Overview and Scope
Pegfilgrastim biosimilars refer to a biosimilar that is intended to be used in conjunction with supportive care for people with non-myeloid cancer. It can help prevent or treat infections brought on by myelosuppressive chemotherapy by promoting the formation of certain white blood cells.
Sizing and Forecast
The pegfilgrastim biosimilars market size has grown rapidly in recent years. It will grow from $1.59 billion in 2023 to $1.75 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to increase in cancer prevalence, government initiatives, increased healthcare expenditure, increase in biopharmaceutical r&d expenditure, low cost of biosimilars, and high penetration of the biosimilar drugs.
The pegfilgrastim biosimilars market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to increasing prevalence of cancer, aging population, increasing number of approvals, and targets and incentives . Major trends in the forecast period include taking advantage of the less stringent regulations to develop new and improved biosimilars, investing extensively in r&d activities for the development of effective and innovative biologics, focusing on establishing strategic partnerships with the large players to expand their research and developments activities in new drug developments and increasing their focus on m&a growth strategies to expand the customer base and their geographic markets, and increasing focus towards the production of biosimilars for neutropenia treatment to improve revenues and product offerings.
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Segmentation & Regional Insights
The pegfilgrastim biosimilars market covered in this report is segmented –
1) By Application: Chemotherapy Treatment, Transplantation, Other Applications
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Mail-Order Pharmacies
North America was the largest region in the pegfilgrastim biosimilars market in 2023. The Middle East is expected to be the fastest growing region in the global pegfilgrastim biosimilars market share during the forecast period. The regions covered in the pegfilgrastim biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Government initiatives for the development of biosimilars are expected to drive the pegfilgrastim biosimilars market. Governments worldwide are focusing on the development of biosimilars due to their cost-effective nature. The US Food and Drug Administration (FDA) launched a Biosimilar Action Plan, to increase treatment options. The Australian government is committed to the Biosimilar Awareness Initiative, and they improved their commitment by supporting the Generic and Biosimilar Medicines Association through a grant of $5 million to accept increased general biosimilar education and activities that promote the suitable dispensing, prescription, and use of biosimilar medicines. Hence, the government initiatives for the development of biosimilars aid in the increased production and awareness that, in turn, support the growth of the pegfilgrastim biosimilars market.
Key Industry Players
Major companies operating in the pegfilgrastim biosimilars market report are Coherus BioSciences, Sandoz, Biocon/Mylan, Intas Biopharmaceuticals Ltd., Mundipharma GmbH, Dr. Reddy’s Laboratories, Pfizer Inc., Emcure Pharmaceuticals, USV Private Limited, Apotex Pty Ltd., Kyowa Kirin Co. Ltd., Qilu Pharmaceutical, Gennova Biopharmaceuticals Limited, Lupin Limited, Coherus Biosciences Inc., Fresenius Kabi, Napp Pharmaceuticals, Boicon, Amega Biotech.
The pegfilgrastim biosimilars market report table of contents includes:
1. Executive Summary
2. Pegfilgrastim Biosimilars Market Characteristics
3. Pegfilgrastim Biosimilars Market Trends And Strategies
4. Pegfilgrastim Biosimilars Market – Macro Economic Scenario
5. Global Pegfilgrastim Biosimilars Market Size and Growth
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31. Pegfilgrastim Biosimilars Market Other Major And Innovative Companies
32. Global Pegfilgrastim Biosimilars Market Competitive Benchmarking
33. Global Pegfilgrastim Biosimilars Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pegfilgrastim Biosimilars Market
35. Pegfilgrastim Biosimilars Market Future Outlook and Potential Analysis
36.Appendix
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