Dublin, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The "Ibrutinib Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The ibrutinib market size is expected to see exponential growth in the next few years. It will grow to $41.98 billion in 2028 at a compound annual growth rate (CAGR) of 23.1%. The anticipated growth in the forecast period can be attributed to potential label expansions, the expansion of the global market, increased competition from biosimilars, and the adoption of patient-centric healthcare models. Major trends expected during the forecast period encompass expanded indications and clinical trials, the dynamics of the competitive landscape and market entry, development in biosimilars and generics, health technology assessment, and market access, as well as the utilization of real-world evidence and the establishment of long-term safety profiles.
The projected rise in lymphoma cases is anticipated to drive the expansion of the ibrutinib market in the foreseeable future. Lymphoma, a cancer originating from lymphocytes, the immune system's infection-fighting cells, occurs when there is abnormal growth in these white blood cells crucial for the immune response. Ibrutinib is employed in treating lymphoma, specifically B-cell malignancies, by inhibiting tyrosine kinase enzymes that transmit growth signals in cells. For example, as of September 2022, Cancer Australia reported 7,397 diagnosed lymphoma cases in 2022, with the number of deaths from lymphoma in Australia increasing to 1,766, compared to 1,679 deaths in 2020. Consequently, the escalating incidence of lymphoma is a key factor propelling the growth of the ibrutinib market.
Government initiatives aimed at enhancing cancer care and treatment are expected to contribute to the growth of the ibrutinib market. These initiatives encompass policies, funding, and programs implemented by governments to improve the accessibility, affordability, and quality of care for cancer patients. Enhanced access to Ibrutinib, a groundbreaking cancer treatment, is facilitated through subsidized programs and research funding, ultimately improving patient care and outcomes. For instance, as of September 2023, the US government's revival of the Cancer Moonshot initiative, dedicated to halving the cancer death rate within 25 years, is supported by the Centers for Disease Control and Prevention (CDC). The initiative sets ambitious goals to reduce the cancer death rate by 50% over the next quarter century and provide comprehensive support to cancer survivors and their families. Consequently, government initiatives aimed at improving cancer care and treatment are propelling the growth of the ibrutinib market.
Health side effects pose a significant challenge, limiting the growth of the ibrutinib market during the forecast period. These unintended and often undesirable outcomes or symptoms resulting from ibrutinib use can hinder market growth by reducing patient compliance, raising medical concerns, damaging reputation, prompting regulatory scrutiny, fostering competition from alternative treatments, increasing research and development costs, necessitating patient education and support, and overall affecting market dynamics. For instance, according to Mayo Clinic, some side effects of ibrutinib include fever, nausea, confusion, and body pain. Therefore, the health side effects associated with ibrutinib are hindering the growth of the ibrutinib market.
Ibrutinib is available in two primary forms, capsules and tablets. Capsules are defined as small gelatinous cases containing medicine, often offering a more convenient ingestion method compared to tablets. These formulations are distributed through various channels, including hospital pharmacies, retail pharmacies, and online pharmacies, catering to multiple applications such as chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and others. The diverse settings where Ibrutinib is utilized encompass hospitals, clinics, specialty centers, and ambulatory surgical centers.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- By Type: Capsules; Tablets
- By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies
- By Applications: Chronic Lymphocytic Leukemia (CLL); Small Lymphocytic Lymphoma (SLL); Other Applications
- By End-User: Hospitals; Clinics; Specialty Centers; Ambulatory Surgical Centers
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Company Profiles
- Johnson and Johnson Pvt Ltd.
- ABBVie Inc.
- Novartis AG
- Bristol-Myers Squibb Company
- Fresenius Kabi Oncology Ltd.
- Teva Pharmaceutical Industries Limited
- Dr. Reddy's Laboratories Ltd.
- Apotex Inc.
- Cipla Limited
- Zydus Lifesciences Limited
- Sun Pharmaceutical Industries Ltd.
- Supriya Lifescience Ltd.
- Incepta Pharmaceuticals Ltd.
- Accord Healthcare Limited
- Natco Pharma Ltd.
- Haoyuan Chemexpress
- Toronto Research Chemicals
- Shilpa Medicare Limited
- ZcinoPharm Taiwan Ltd.
- Beacon Pharmaceuticals
For more information about this report visit https://www.researchandmarkets.com/r/khti17
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