How is the Ranibizumab Market Poised for Growth: Trends and Opportunities Through 2034
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How has the ranibizumab market size evolved in recent years?
In recent times, the market size of ranibizumab has seen consistent growth. It is projected to increase from $2.66 billion in 2024 to $2.78 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.6%. Factors contributing to the growth over the historical period include the broader footprint of clinical trials in developing markets, a rising incidence of age-related macular degeneration (AMD), heightened awareness of retinal diseases, an escalating number of individuals affected by diabetic retinopathy, government backed initiatives and funding, as well as growing healthcare expenditure.
What are the predictions for the ranibizumab market size in the coming years?
The ranibizumab market size is expected to see steady growth in the next few years. It will grow to $3.3 billion in 2029 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to ongoing research and development, the introduction of biosimilars, an increasing focus on combination therapies, growth in teleophthalmology, expanding indications for ranibizumab, and favorable reimbursement policies. Major trends in the forecast period include advancements in biotechnology, technological advancements in drug delivery systems, a shift towards personalized medicine, the increasing use of artificial intelligence in ophthalmology, the development of longer-acting formulations, and a rise in patient-centric care models.
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What key factors are fueling the growth of the ranibizumab market?
The surge in eye-related disorders is anticipated to trigger the expansion of the ranibizumab market. These disorders encompass a variety of conditions that could negatively impact vision and overall eye health. Factors such as an aging demographic, changes in lifestyle, and a rise in chronic conditions like diabetes contribute to the escalating prevalence of eye disorders. Ranibizumab is utilized to manage conditions like age-related macular degeneration and diabetic retinopathy, aiding in minimizing vision defects amidst the rising incidence of eye illnesses. For example, as reported by the World Health Organization (WHO), a Switzerland-based intergovernmental organization, in August 2023, around 2.2 billion people worldwide were grappling with either near or distance vision impairment. Hence, the growing prevalence of eye diseases is projected to fuel the growth of the ranibizumab market.
How is the global ranibizumab market divided into key segments?
The ranibizumab market covered in this report is segmented –
1) By Product: Single Use Prefilled Syringe, Single Use Glass Vial
2) By Application: Wet Age Related Macular Degeneration (AMD), Diabetic Retinopathy (DR), Diabetic Macular Edema (DME), Myopic Choroidal Neovascularization (MCNV), Retinal Vein Occlusion (RVO)
3) By Distribution Channel: Hospital Pharmacies, Online Pharmacies, Other Distribution Channels
Subsegments:
1) By Single Use Prefilled Syringe: 0.3 Ml Syringe, 0.5 Ml Syringe, 1 Ml Syringe, Other Volume Variants
2) By Single Use Glass Vial: 0.5 Mg Or 0.05 Ml Vial, 1.0 Mg Or 0.1 Ml Vial, 2.0 Mg Or 0.2 Ml Vial, Other Volume Variants
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Who are the key players steering the development of the ranibizumab market?
Major companies operating in the ranibizumab market are F. Hoffmann-La Roche AG, Bayer AG, Novartis AG, Teva Pharmaceutical Industries Ltd, Regeneron Pharmaceuticals Inc., Biogen Inc, Sun Pharmaceutical Industries Ltd., Stada Arzneimittel AG, Genentech Inc., Dr Reddy’s Laboratories Ltd, Cipla Limited, Samsung Biologics Co Ltd, Lupin Limited, Biocon Limited, Celltrion Healthcare Co Ltd, Glenmark Pharmaceuticals Limited, Enzene Biosciences Ltd, Coherus BioSciences Inc, Amman Pharmaceutical Industries, Formycon AG, Intas Pharmaceuticals Ltd, Alvotech, Xbrane Biopharma AB
What emerging trends are influencing the growth of the ranibizumab market?
Leading firms in the ranibizumab market are prioritizing cost-efficient therapies, such as ranibizumab biosimilars, aimed at treating and preventing loss of vision in patients with retinal disorders. Ranibizumab biosimilars are biological medicines closely resembling the original, apart from being traded under different brand names, working as a cost-effective substitute while matching the efficacy and safety of the original drug. For example, in April 2024, Germany’s biotech firm Formycon AG, along with Switzerland’s Bioeq AG, unveiled the commercial availability of FYB201, a biosimilar to Lucentis (Ranibizumab), in Canada and Switzerland. This introduction comes in the wake of marketing approval from Health Canada under the Ranopto brand name and from Swissmedic under the Ranivisio brand name. FYB201 emerges as a fresh, high-quality, effective, and reasonably priced therapeutic alternative for patients plagued by severe retinal diseases, underscoring its importance as a cost-friendly choice for patients in the USA and varied European regions.
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What regions are dominating the ranibizumab market growth?
North America was the largest region in the ranibizumab market in 2024. The regions covered in the ranibizumab market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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