Analysis of Pegfilgrastim Biosimilar market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Pegfilgrastim is developed by PEGylating the recombinant human granulocyte colony-stimulating factor (G-CSF) analogue, filgrastim. Pegfilgrastim was first launched by Amgen Inc. as Neulasta in 2002. Later, several biosimilars of pegfilgrastim were launched in the market.
Pegfilgrastim is used as a supportive oncology drug to treat chemotherapy- and/or radiotherapy-induced neutropenia in cancer patients. With more than ten pegfilgrastim biosimilars available in the market and over 5 under development, the pegfilgrastim biosimilar size market is expected to witness an upswing in the future.
The COVID-19 pandemic effect has been moderate on the overall pegfilgrastim market. COVID-19 has overall affected the speed of processes in clinical trials, but it’s predicted that, there will not be any near-term effect on approval processes by the regulatory bodies.
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The distribution channel includes hospital pharmacies, retail pharmacies, and mail-Order pharmacies. Hospital pharmacies have dominated the market, capturing over 50% market share in the global pegfilgrastim biosimilar market. Owing to increasing adoption of chemotherapy for cancer treatment across the globe, hospital pharmacies will be the most adoptive sector in the pegfilgrastim biosimilar market.
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The pegfilgrastim biosimilar market is segmented into the following regions - North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa. North America is the dominant region that holds over 3/4 of the global pegfilgrastim biosimilar market share. Majority of pegfilgrastim biosimilar developers target North America for their product launches, owing to growing demand for biosimilars in this region.
North America has experienced increasing spending on biologics for cancer and related disease treatment over the past few years. Also, rising prevalence of cancer and advanced healthcare facilities make North America the most attractive region for pegfilgrastim biosimilar market players.
The pegfilgrastim biosimilar market in the Asia Pacific region is likely to witness significant growth due to increasing prevalence of cancer coupled with lowering of prices owing to launch of various biosimilars. The adoption of originator pegfilgrastim (Neulasta) in Asia Pacific has remained limited due to higher cost of the product, resulting in limited accessibility.
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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.
Other players in the market are Pfizer Inc, Green Cross Corp, Accord healthcare, Intas Pharmaceuticals Ltd, and Zydus Cadila. These players are focused on strategic collaborations & partnerships and investments in research & development for developing novel biosimilar platforms.
“Key players should target emerging markets along with developed markets to make the access of affordable biosimilar therapeutics easy for a large patient population, and, in turn, expand their global footprints.”
COVID-19 has affected the pace of clinical trials, eventually leading to delays in the approval process. Delays caused by the COVID-19 pandemic crisis may lead to a backlog of approvals, and eventually delay the launches of 2020. Coherus Biosciences, a key manufacturer of pegfilgrastim biosimilar, mentioned that, the company does not import its active pharmaceutical ingredients (API) for UDENYCA from countries such as China and India, and therefore, its manufacturing did not get impacted by the coronavirus pandemic. The overall effect of the COVID-19 outbreak on the pegfilgrastim biosimilar market has been moderate.
Fact.MR published an exclusive forecast report on the pegfilgrastim biosimilar market for 2020 to 2026. The foremost objective of this report on the pegfilgrastim biosimilar market is to pitch spearhead insights on the market scenario, demand generators, and product developments in the pegfilgrastim biosimilar market. Also, the study addresses key dynamics that are expected to diversify the sales and future prominence of pegfilgrastim biosimilars.
The report on the pegfilgrastim biosimilar market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the pegfilgrastim biosimilar market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the pegfilgrastim biosimilar market, including the drivers, restraints, opportunities, trends, and developments for pegfilgrastim biosimilars. Current product pipeline analysis has also been included in the report, to help readers clearly understand the future product framework map in the 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.
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Hospital pharmacies segment has the largest share in the Pegfilgrastim Biosimilar market
Europe is expected to be the most dominant region in the global market for Pegfilgrastim Biosimilar
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