Ranibizumab Global Market Report 2024

The ranibizumab market size has grown steadily in recent years. It will grow from $2.55 billion in 2023 to $2.66 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to several factors, including the expansion of clinical trials in emerging markets, the increasing prevalence of age-related macular degeneration (AMD), growing awareness about retinal diseases, the high incidence of diabetic retinopathy, government initiatives and funding, and rising healthcare expenditure.

The ranibizumab market size is expected to see steady growth in the next few years. It will grow to $3.16 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to ongoing research and development efforts, the introduction of biosimilars, a growing focus on combination therapies, the expansion of teleophthalmology, widening indications for ranibizumab, and favorable reimbursement policies. Major trends expected during this period include advancements in biotechnology, technological improvements in drug delivery systems, a move towards personalized medicine, increased use of artificial intelligence in ophthalmology, development of longer-acting formulations, and an increase in patient-centric care models.

The increasing occurrence of eye diseases is poised to drive the expansion of the ranibizumab market in the future. Eye diseases encompass various conditions affecting vision and eye health, with factors such as aging populations, lifestyle changes, and the rise in chronic conditions such as diabetes contributing to their prevalence. Ranibizumab is utilized in treating conditions such as age-related macular degeneration and diabetic retinopathy, playing a role in reducing vision impairment amidst the growing prevalence of eye diseases. For example, the International Agency for the Prevention of Blindness (IAPB) projected a 55% increase in vision loss by 2050, with the number of affected individuals expected to rise from 1.1 billion in 2020 to 1.75 billion in 2050. Hence, the increasing occurrence of eye diseases will fuel the growth of the ranibizumab market.

Key players in the ranibizumab market are focusing on developing cost-effective therapies, such as biosimilars of ranibizumab, to address and prevent vision loss in patients with retinal disorders. A biosimilar of ranibizumab refers to a biologic medication highly similar to the original ranibizumab but marketed under a different brand name, providing a more economical alternative while maintaining comparable efficacy and safety profiles. For instance, Formycon AG and Bioeq AG announced the commercial release of FYB201, a biosimilar to Lucentis (Ranibizumab), in Canada and Switzerland in April 2024. This launch, under the brand names Ranopto and Ranivisio, following marketing authorization from Health Canada and Swissmedic respectively, offers a new, effective, and affordable treatment option for severe retinal diseases. It has already proven to be a cost-effective treatment choice for patients in the USA and various parts of Europe.

In March 2024, Sandoz Group AG acquired the CIMERLI business from Coherus BioSciences to bolster its position in the biosimilar market, particularly in ophthalmology. This move leverages Coherus BioSciences' expertise in developing biosimilar versions of medications such as Ranibizumab, used in treating eye diseases. Coherus BioSciences, a US-based biopharmaceutical company, focuses on developing biosimilar versions of medications such as Ranibizumab.

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.

North America was the largest region in the ranibizumab market in 2023 The regions covered in the ranibizumab market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the ranibizumab market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Ranibizumab is a recombinant humanized monoclonal antibody fragment designed to inhibit vascular endothelial growth factor A (VEGF-A) activity in treating various retinal conditions. It works by reducing abnormal blood vessel growth and leakage in the eye. Its advantage lies in targeted delivery via intravitreal injection, minimizing systemic side effects while preserving and potentially improving vision.

The main types of ranibizumab include single-use prefilled syringes and single-use glass vials. Single-use ranibizumab syringes are intended for one-time use, filled with the appropriate dosage before distribution, and disposed of after a single injection. They are used in conditions such as wet age-related macular degeneration (AMD), diabetic retinopathy (DR), diabetic macular edema (DME), myopic choroidal neovascularization (MCNV), and retinal vein occlusion (RVO). These are distributed through channels such as hospital pharmacies, online pharmacies, and others.

The ranibizumab market research report is one of a series of new reports that provides ranibizumab market statistics, including ranibizumab industry global market size, regional shares, competitors with an ranibizumab market share, detailed ranibizumab market segments, market trends and opportunities, and any further data you may need to thrive in the ranibizumab industry. This ranibizumab market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ranibizumab market consists of sales of biosimilars, intravitreal injections, and compounded formulations. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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