Summary
Major players in the pegfilgrastim biosimilars market are Mylan, Biocon, Mundipharma, Pfizer, Sandoz, Coherus, Intas Pharmaceuticals and Fresenius Kabi.
The global pegfilgrastim biosimilars market is expected to grow from $1.17 billion in 2021 to $1.28 billion in 2022 at a compound annual growth rate (CAGR) of 10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The pegfilgrastim biosimilars market is expected to reach $1.92 billion in 2026 at a CAGR of 10.6%.
The pegfilgrastim biosimilars market consists of sales fulphila, pelgraz, pelmeg, udenyca, ziextenzo, grasustek, fylnetra, and stimufend.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.
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.
The different applications in pegfilgrastim biosimilar are chemotherapy treatment, transplantation, and others.Chemotherapy is a cancer treatment that involves the administration of one or more anti-cancer medications as part of a defined protocol.
The various distribution channels include hospital pharmacies, retail pharmacies, and mail-order pharmacies.
North America was the largest region in the pegfilgrastim biosimilars market in 2022.Middle East is expected to be the fastest growing region in 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 and Africa.
Government initiatives for the development of biosimilars are expected to drive the pegfilgrastim biosimilars.Governments worldwide are focusing on the development of biosimilars attributing 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 which in turn supported the growth of the pegfilgrastim biosimilars market.
During the forecast period, the pegfilgrastim biosimilar market was restrained by the low number of drug approvals by the FDA.The market currently only has 4 drugs approved for treatment, thus restraining the growth of the market.
This can be attributed to strict standards for manufacturing and high drug efficacy standards set by the regulatory bodies for approval of this therapy, thus increasing the time required for approval and limiting the growth of the market.
Companies in the pegfilgrastim biosimilar market are increasing their product innovation through strategic collaborations.To sustain 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 as well as academic and research institutions in this market by way of partnerships or out-licensing deals, this trend has been increasing over recent years.For instance, in April 2020, Biocon, an India-based biopharmaceutical company partnered with Mylan, a US-based generic and specialty pharmaceuticals company to introduce Fulphila, biosimilar pegfilgrastim in Australia.
Fulphila has been licensed by the Therapeutic Goods Administration for the therapy of oncology patients who have had chemotherapy to shorten the length of acute neutropenia and hence the risk of infection, as evidenced by febrile neutropenia.
In February 2022, Biocon Biologics Ltd, an India-based fully integrated biopharmaceutical company, acquired Viatris ’ biosimilar business for $3.34 billion. Though this acquisition, BBL would be able to direct-market more of its existing and upcoming biosimilars. In order to maintain customer service and facilitate a smooth transition to BBL, Viatris is expected to provide commercial and other transition services with this acquisition for an anticipated two-year term. Viatris Inc is a US-based pharmaceutical and healthcare corporation which has co-developed a biosimilar of pegfilgrastim.
The countries covered in the pegfilgrastim biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
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