Pegfilgrastim Biosimilar Market

Global Pegfilgrastim Biosimilar Market Overview

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.

Pegfilgrastim Biosimilar Market Insights by Distribution Channel

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.

Regional Outlook of Pegfilgrastim Biosimilar Market

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.

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.

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.

The Analyst’s Viewpoint

“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 Impact on Pegfilgrastim Biosimilar market

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.

Pegfilgrastim Biosimilar Market: About the Report

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.

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

Pegfilgrastim Biosimilar Market – Report Scope

Fact.MR recently published a market study on the global market for pegfilgrastim biosimilars. The study provides a detailed assessment of key market dynamics, including the drivers, trends, opportunities, and restraints, as well as detailed information about the pegfilgrastim biosimilar market structure. The market study presents exclusive information about how the pegfilgrastim biosimilar market will grow during the forecast period (2020 to 2026).

Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market and compounded annual growth rate (CAGR) are explained in Fact.MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the pegfilgrastim biosimilar market during the forecast period.

The study is relevant for stakeholders in the pegfilgrastim biosimilar market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the pegfilgrastim biosimilar market, investors, industry experts, researchers, and journalists, as well as business researchers, can leverage the information and data presented in Fact.MR’s study.

It also offers actionable insights based on the future trends in the pegfilgrastim biosimilar market. Furthermore, small businesses and new entrants in the pegfilgrastim biosimilar market too can make use of the information presented in this study, based on which, they can make appropriate business decisions to gain momentum in the market.

Key Questions Answered in Fact.MR’s Pegfilgrastim Biosimilar Market Report

• Which regions will continue to remain the most profitable regional markets for pegfilgrastim biosimilar market players?
• Which factors will induce a change in the demand for pegfilgrastim biosimilars during the assessment period?
• How will changing trends impact the pegfilgrastim biosimilar market?
• What effect will the COVID-19 pandemic have on the global pegfilgrastim biosimilar Market
• How can market players capture the low-hanging opportunities in the pegfilgrastim biosimilar market in developed regions?
• Which companies are leading the pegfilgrastim biosimilar market?
• What are the winning strategies of stakeholders in the pegfilgrastim biosimilar market to upscale their position in this landscape?

Pegfilgrastim Biosimilar Market: Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the pegfilgrastim biosimilar market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the pegfilgrastim biosimilar market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as validation from companies in the pegfilgrastim biosimilar market and makes Fact.MR’s projections on the growth prospects of the pegfilgrastim biosimilar markets more accurate and reliable.