Global Pegfilgrastim Biosimilars Market Size to Grow at a CAGR of 7% During the Forecast Period of 2023-2031

The ‘Global Pegfilgrastim Biosimilars Market Trends, Size, Share, Report and Forecast 2023-2031’ by Expert Market Research gives an extensive outlook of the global pegfilgrastim biosimilars market, assessing the market on the basis of its segments like indication type, product type, application, distribution channel, and major region.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

Pegfilgrastim Biosimilars Market Share, Size, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast

The key highlights of the report include:

Market Overview (2016-2031)

  • Forecast CAGR (2023-2031): 7%

The growth of the pegfilgrastim biosimilars market has been driven by the increased incidence of leukaemia during the historical period. Increased cancer prevalence, government initiatives, rising healthcare costs, rising biopharmaceutical spending in research and development, low cost of biosimilars, and high penetration of biosimilar medications are some of the key factors contributing to the growth of the market.

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The rise in immune-weakening diseases, including cancer and AIDS, among others, is a major factor in the market expansion for pegfilgrastim biosimilars. Cancer diagnosis occurs in 1 out of 5 people worldwide over their lifetime, according to the International Agency for Research on Cancer. The risk of developing cancer rises with advancing age, and the demand for the product also rises with the rising number of elderly people.

Pegfilgrastim biosimilars have received significant regulatory approval. Due to their affordable prices and efficient clinical management characteristics, biosimilars have emerged as an effective therapy alternative. Pegfilgrastim biosimilar is also advised to patients who have been exposed to myelosuppressive radiations, which can harm bone marrow to a life-threatening degree.

Pegfilgrastim Biosimilars Industry Definition and Major Segments

The PEGlyated version of filgrastim, a recombinant human granulocyte stimulating factor, is known as pegfilgrastim biosimilar (GSF). The primary purpose of it is to produce more neutrophils or white blood cells. This drug was initially created by Amgen and sold under the name Neulasta. It encourages the production of more neutrophils in the bone marrow, which helps people with immune system attacking illnesses fight infections.

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Based on indication type, the market is segmented into:

  • Neutropenia 
  • Hematopoietic Subsyndrome
  • Others

The market on the basis of product type is segmented into:

  • MK-6302
  • Peg G-CSF
  • PEG Neutrogena
  • Grasustek
  • LA-EP2006
  • R-TPR-029
  • Filgrastim
  • Others

Based on application, the market is divided into:

  • Chemotherapy Induced Neutropenia
  • Transplantation
  • Others

The market on the basis of distribution channel is segmented into:

  • Hospital Based Pharmacies
  • Online Pharmacies
  • Retail Pharmacies

On the basis of region, the market is divided into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Pegfilgrastim Biosimilars Market Trends

The regulatory agencies have given their approval to a substantial number of Pegfilgrastim biosimilars. Due to their affordable costs and efficient clinical management characteristics, biosimilars have emerged as a viable therapy alternative, which is further supporting the growth of the pegfilgrastim biosimilars market.

Strong research and development efforts are being made in the pegfilgrastim biosimilar sector. Increased success rates in clinical trials for biosimilars are the result of these research and development efforts. Market leaders in the biosimilars market are conducting research and development in an effort to create novel and efficient biosimilars that will revolutionise the market. This will propel the expansion of the market further.

Additional factors, including the low cost of biosimilars, improved awareness, and rising healthcare spending, are anticipated to fuel market expansion. The pegfilgrastim biosimilars market is predicted to be dominated by hospital pharmacies since the medication used to treat chronic illnesses necessitate hospital stays.

Key Market Players

The major players in the global pegfilgrastim biosimilars market report are:

  • Merck & Co., Inc.
  • Zydus Lifesciences Limited
  • Ratiopharm GmbH
  • Jiangsu Hengrui Pharmaceuticals Co. Ltd
  • Biocon Limited
  • Dr. Reddy’s Laboratories Ltd
  • Pfizer Inc.
  • Emcure Pharmaceuticals Limited
  • USV Private Limited
  • Apotex Pty Ltd
  • Kyowa Kirin Co., Ltd.
  • Lupin Limited

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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