Sales Of Pegfilgrastim Biosimilar To Exhibit 10% CAGR Through 2026 | Fact.MR Study

Chemotherapy and/or radiotherapy is used for the treatment of most cancers. However, chemotherapy and radiotherapy have a very common side effect called neutropenia, and pegfilgrastim is required for its treatment. A study conducted on patients who received chemotherapy in 2016-2017 to evaluate the occurrence of chemotherapy-induced febrile neutropenia (CIFN) showed that, out of 200 patients, 9.5% patients developed neutropenia. Neutropenia patients are highly susceptible to infections, and for this reason, it is a life-threatening disease.  Pegfilgrastim is advantageous over filgrastim in relatively decreasing the incidence of febrile neutropenia. In the future, pegfilgrastim biosimilars will provide better access to this treatment.

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All in all, rising incidence of cancer and increasing use of chemotherapy for treatment will aid the expansion of the pegfilgrastim biosimilar market, which was valued at US$ 944 Mn in 2019, and is expected to exhibit a CAGR of over 10% over the forecast period (2020–2026).

Key Segments of Pegfilgrastim Biosimilar Market

Fact.MR’s study on the pegfilgrastim biosimilar market offers information divided into two important segments-distribution channel and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories, for the better understanding of readers.

Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Mail-Order Pharmacies

Region

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

Key Takeaways from Pegfilgrastim Biosimilar Market Study

• The hospital pharmacies segment under the distribution channel category held half of the global pegfilgrastim biosimilar market share in 2019, owing to increasing cancer treatments such as chemotherapy and others. Retail pharmacies followed due to increasing number of prescriptions.
• North America holds almost 3/4 of the global pegfilgrastim biosimilar market, followed by Europe, owing to large number of product launches in these regions.

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Pegfilgrastim Biosimilar Market: Key Players

The pegfilgrastim biosimilar market is significantly consolidated and competitive in nature. Many small and large pharmaceutical companies have developed this biosimilar. Key players operating in the market are Coherus Biosciences, Mylan N.V., Biocon, and Novartis AG (Sandoz). These companies have launched pegfilgrastim biosimilars and are bolstered with partnerships and collaborations for expanding their market presence, globally.

• The East Asia market year-on-year growth is expected to rapidly surge in the near future. This growth is due to increasing pool of patients and advancements in healthcare with government support, which will propel pegfilgrastim biosimilar market growth in Asian countries.
• The COVID-19 pandemic that has swept the world is projected to have only a moderate impact on the progress of the pegfilgrastim biosimilar market.

“Increasing demand for cost-effective therapeutics such as biosimilars and patent expiration of blockbuster biologics will provide competitive benefits to market players in terms of new product development,” says a Fact.MR analyst.

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Increasing Consolidation among Key Players and New Product Launches

Increase in value chain partnerships and market consolidation activities such as collaborations, partnerships, and M&A among market players will be a significant tool to increase their capabilities and speed to market for new launches. For instance, Mylan and Biocon collaboratively worked on a partnership to launch Pegfilgrastim biosimilar Fulphila.

Manufacturers are making efforts to develop biosimilars, and, so far, in 2020, there were 4 biosimilar launches in the United States, and many more are anticipated to be launched. It is estimated that, the pipeline from 2021 to 2025 will have at least 5 approved biosimilars.

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