DUBLIN–(BUSINESS WIRE)–The “Pegfilgrastim Biosimilars Global Market Opportunities and Strategies to 2030, by Application, Distribution Channel” Report has been added ResearchAndMarkets.com Offer.
The global market for pegfilgrastim biosimilars reached nearly US$902.1 million in 2020. The market is expected to grow at a rate of 14.8% from $902.1 million in 2020 to $1,801.0 million in 2025. The growth is mainly due to an increased cancer prevalence and increasing acceptance of biosimilars. The market is expected to grow at a CAGR of 17.5% from 2025 and reach $4,037.1 million in 2030.
This report describes and explains the global Pegfilgrastim Biosimilars Market and covers the years 2015-2020 which is known as the historical period and 2020-2025 which is known as the forecast period and further forecasts for the period 2025-2030. The report assesses the market in each region and for the major economies within each region.
Growth in the pegfilgrastim biosimilars market over the historical period resulted from an increase in cancer prevalence, government initiatives, increased healthcare spending, increased spending on biopharmaceutical research and development, low cost of biosimilars, and high penetration of biosimilar drugs. The market has been constrained by challenges from regulatory changes, low levels of drug approvals, lack of awareness of biosimilars among GPs and specialists, and poor access to healthcare.
Going forward, rising cancer prevalence, aging population, increasing number of approvals, and targets and incentives are expected to drive the market. Factors that may hamper the growth of the market in the future include the impact of COVID-19, strict regulations regarding biosimilars approval, and extended production and approval times.
The pegfilgrastim biosimilars market is segmented by application into chemotherapy-induced neutropenia, transplantation and others. Chemotherapy-induced neutropenia was the largest segment of the pegfilgrastim biosimilars market segmented by application, accounting for 75.5% of the total market in 2020. Going forward, the chemotherapy-induced neutropenia segment is expected to be the fastest growing segment in the market segment of pegfilgrastim biosimilar therapy type, at a CAGR of 15.2% over the period 2020-2025.
The pegfilgrastim biosimilars market is also segmented by distribution channel into hospital pharmacies, retail pharmacies, and mail-order pharmacies. Hospital pharmacies were the largest segment of the pegfilgrastim biosimilars market segmented by distribution channel, accounting for 87.7% of the total market in 2020. Going forward, the mail-order pharmacy segment is expected to be the fastest growing segment in the segmented market for pegfilgrastim biosimilars distribution channel, at a CAGR of 31.8% over the period 2020-2025.
North America was the largest region in the pegfilgrastim biosimilars market, accounting for 51.2% of the total market in 2020. Western Europe followed, followed by Asia Pacific and then the other regions. Going forward, the fastest growing regions in the pegfilgrastim biosimilars market will be Asia-Pacific and North America, where growth will be at CAGRs of 43.6% and 14.9%, respectively.
The global pegfilgrastim biosimilars market is highly concentrated with few major players in the market. The nine competitors in the market accounted for up to 100% of the total market in 2020. Major players in the market include Coherus BioSciences, Biocon/Mylan, Sandoz (Novartis), Mundipharma GmbH, Dr. Reddy’s Laboratories, Pfizer Inc., Emcure Pharmaceuticals (Gennova Biopharmaceuticals Ltd.) and USV Private Limited.
The largest opportunity in the pegfilgrastim biosimilars market segmented by application comes from the chemotherapy-induced neutropenia segment, which is expected to generate $701.0 million in annual global revenue by 2025. The greatest opportunity in the pegfilgrastim biosimilars market segmented by distribution channel comes from the hospital pharmacy segment, which is expected to generate $612.3 million in annual global revenue by 2025. The US market for pegfilgrastim biosimilars will grow the fastest at US$426.9 million.
Strategies for pegfilgrastim biosimilars based on market trends include leveraging the less stringent regulations to develop new and improved biosimilars, investing extensively in R&D activities to develop effective and innovative biologics, and focusing on building strategic partnerships with the major players in their research – Expand new drug development and development activities and increase its focus on M&A growth strategies to expand its customer base and geographic markets, and increase its focus on the production of biosimilars for the treatment of neutropenia to improve sales and product offerings .
Strategies adopted by players in the pegfilgrastim biosimilars market include expanding the business by commercializing its products, strengthening the business through various expansion strategies in different geographies, and gaining drug approvals in different geographies.
To capitalize on opportunities, the editor recommends that pegfilgrastim biosimilars companies focus on solid research and development, focus on strategic partnerships for new product development, establish authorized distributors and sales representatives, competitively priced offerings in low-income countries Offer and increase visibility through corporate websites and healthcare websites, focus on raising awareness, target hospitals and pharmacies to spread awareness, focus on cancer patients.
Main topics covered:
1. Pegfilgrastim Biosimilars Market Executive Summary
2. Table of Contents
3. List of figures
4. List of Tables
5. Reporting Structure
6.1. Segmentation by geography
6.2. Segmentation by application
6.3. Segmentation by sales channel
7. Market Characteristics of Pegfilgrastim Biosimilars
7.1. market definition
7.2. Market segmentation by application
7.2.1. Chemotherapy-induced neutropenia
7.3. Market segmentation by distribution channel
7.3.1. hospital pharmacies
7.3.2. retail pharmacies
7.3.3. mail order pharmacies
8. Pegfilgrastim Biosimilars Market Trends and Strategies
8.1. Revised FDA regulations to facilitate biosimilar development
8.2. Robust research & development
8.3. Large number of strategic partnerships
8.4. Growing mergers and acquisitions
8.5. Demand for biosimilars in the treatment of neutropenia
9. Impact of COVID-19 on Pegfilgrastim Biosimilars Market
9.1. Impact on the Global Pegfilgrastim Biosimilars Market
9.2. Delays in clinical trials
9.3. Impact on Patients
9.4. Impact on key stakeholders
9.5. future outlook
10. Global Pegfilgrastim Biosimilars Market Size & Growth
10.1. market size
10.2. Historical Market Growth, 2015-2020, Value (Million US$)
10.2.1. Market drivers 2015 – 2020
10.2.2. Restrictions on the market 2015 – 2020
10.3. Forecast Market Growth, 2020 – 2025, 2030F, Value (Million US Dollars)
10.3.1. Market drivers 2020 – 2025
10.3.2. Restrictions on the market 2020 – 2025
11. Global Pegfilgrastim Biosimilars Market Segmentation
11.1. Global Pegfilgrastim Biosimilars Market, Segmentation by Application, Historical and Forecast, 2015 – 2020, 2025F, 2030F, Value (Million US$)
11.1.1. Chemotherapy-induced neutropenia
11.2. Global Pegfilgrastim Biosimilars Market, Segmentation by Distribution Channel, Historical and Forecast, 2015 – 2020, 2025F, 2030F, Value (Million USD)
11.2.1. hospital pharmacies
11.2.2. retail pharmacies
11.2.3. mail order pharmacies
12. Pegfilgrastim Biosimilars Market, Region and Country Analysis
12.1. Global Pegfilgrastim Biosimilars Market, By Region, Historical & Forecast, 2015-2020, 2025F, 2030F, Value (Million US$)
12.2. Global Pegfilgrastim Biosimilars Market, by Country, Historical and Forecast, 2015-2020, 2025F, 2030F, Value (Million US$)
Intas Biopharmaceuticals Ltd.
dr Reddy’s Laboratories
Emcure Pharmaceuticals (Gennova Biopharmaceuticals Ltd.)
UPS Private Limited
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