Ibrutinib Market Global Outlook 2021 predicted to reach USD 66.28 billion by 2030

The Global Ibrutinib Market size is estimated to be USD 5.17 billion in 2019 and is predicted to reach USD 66.28 billion by 2030 with a CAGR of 26.1% from 2020-2030.

Ibrutinib is also known as Imbruvica is a small molecule which permanently bindsto the protein important for B cells called Bruton's tyrosine kinase. This drug is used for the treatment B cell cancer, chronic lymphocytic leukemia, and others. This drug is categorized under targeted therapy which differentiates the normal cells and cancer cells and slows down the growth of cancer cells. There are various side effects associated with the drug and it is approved by the USFDA and other authorities for its treatment.

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Top Companies: Beacon Pharmaceuticals, Janssen Pharmaceuticals, Pharmacyclics Inc., Johnson and Johnson, Incepta Pharmaceuticals, and Bluepharma and others.

Market Dynamics and Trends

The improving and modernizing healthcare infrastructure as well as increase in the burden of chronic disorders over the period of time is expected to drive the market growth. Furthermore, increased prevalence of cancer coupled with technological advancement is further expected to promote the growth of ibrutinib market.

The other factors include favorable reimbursement scenario, increased public awareness coupled with increase in disposable income are also expected to support the market growth. However, various side effects of the ibrutinib and high cost of the drug is expected to inhibit the growth of ibrutinib market. Moreover, increase in research and development coupled with clinical trials and usage approvals by the authorities are expected to create ample opportunities in the ibrutinib market over the forecast period.

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Market Segmentations and Scope of the Study:

The global ibrutinib market share is analyzed on the basis of product type, application, and geography. On the basis of product type, the market is segmented into 140 mg, 10mg, and 5mg. On the basis of application, the market is divided into Chronic Lymphocytic Leukaemia (CLL), Mantle Cell Lymphoma (MCL), Diffuse Large B Cell Lymphoma (DLBCL), Multiple Myeloma (MM), and Follicular Lymphoma (FL). Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America denotes a higher adoption of the ibrutinib and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including presence of well-established healthcare amenities, increased prevalence of cancer, usage approvals by the authorities, and technological advancements.

It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to increasing accessibility to healthcare facilities in the region, favorable reimbursement scenario, with increased awareness are further expected to fuel the growth of ibrutinib market over the forecast period.

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