The Pegfilgrastim Biosimilars by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pegfilgrastim Biosimilars, 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.
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.
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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
Companies in the pegfilgrastim biosimilar market are increasing their product innovation through strategic collaborations. To sustain themselves in the increasingly competitive market, companies are developing innovative products as well as sharing skills and expertise with other companies. While companies have long collaborated with academic and research institutions in this market by way of partnerships or out-licensing deals, this trend has been increasing over the past few years. For instance, in May 2023, Amneal Pharmaceuticals, a US-based generics and specialty pharmaceutical company, partnered with Kashiv Biosciences, a US-based integrated biosciences company, to develop and introduce Fylnetra (pegfilgrastim-pbbk), a biosimilar pegfilgrastim. FYLNETRA is a preservative-free, clear solution offered in a 6 mg/0.6 mL single-dose prefilled syringe. It’s used to reduce infection risks, specifically febrile neutropenia, in patients with non-myeloid cancers undergoing certain myelosuppressive anti-cancer treatments.
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 analysis
5.Pegfilgrastim Biosimilars Market Size And Growth
6. Pegfilgrastim Biosimilars Segmentation
7. Pegfilgrastim Biosimilars Regional And Country Analysis
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27.Pegfilgrastim Biosimilars Competitive Landscape And Company Profiles
28.Pegfilgrastim Biosimilars Key Mergers And Acquisitions
29. Pegfilgrastim Biosimilars Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Coherus BioSciences
- Sandoz
- Biocon/Mylan
- Intas Biopharmaceuticals Ltd.
- Mundipharma GmbH
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