Rituximab Biosimilars Global Market Report 2020-30: Covid 19 Growth And Change

The Business Research Company’s Rituximab Biosimilars Global Market Report 2020-30: COVID-19 Growth and Change

LONDON, GREATER LONDON, UK, February 8, 2021 /EINPresswire.com/ --

New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports

The rising prevalence of non-Hodgkin’s lymphoma (NHL) is predicted to contribute to the growth of the rituximab biosimilars market. Non-Hodgkin’s lymphoma is a cancer that starts in white blood cells (lymphocytes) that are part of the body’s immune system. In 2018, rituximab-abbs was approved as the first rituximab biosimilars for the treatment of patients with B-cell NHL and adult patients with CD20-positive. According to the National Library of Medicine’s statistics, non-Hodgkin lymphoma was ranked as the 5th to 9th most common cancers in most of the countries, with approximately 5,10,000 new cases in 2018, globally. Moreover, according to the American Cancer Society, NHL is the most common cancer in the USA. About 77,240 people (34,860 females and 42,380 males) are estimated to be diagnosed with NHL by the end of 2020 in the USA. Thus, growing cases of non-Hodgkin’s lymphoma are predicted to generate high demand for rituximab biosimilars over the forecast period.

The global rituximab biosimilars market was expected to decline from $1.84 billion in 2019 to $1.78 billion in 2020 at a compound annual growth rate (CAGR) of -3.22%. The decline was mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is expected to recover and reach $2.62 billion in 2023 at a CAGR of 13.85%. Europe accounts for the largest rituximab biosimilars market share, while Asia-Pacific is expected to be the fastest-growing region in the forecast period.

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Oliver Guirdham
The Business Research Company
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