Dublin, March 16, 2022 (GLOBE NEWSWIRE) -- The "Pegfilgrastim Biosimilars Global Market Opportunities And Strategies To 2030, By Application, Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The global pegfilgrastim biosimilars market reached a value of nearly $902.1 million in 2020. The market is expected to grow from $902.1 million in 2020 to $1,801.0 million in 2025 at a rate of 14.8%. The growth is mainly due to an increased prevalence of cancer and increasing adoption of the biosimilars. The market is then 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 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period in the pegfilgrastim biosimilars market resulted from increase in cancer prevalence, government initiatives, increased healthcare expenditure, increase in biopharmaceutical R&D expenditure, low cost of biosimilars, and high penetration of the biosimilar drugs. The market was restrained by challenges due to regulatory changes, low number of drug approvals, lack of awareness on biosimilars among primary care physicians and specialists, and low healthcare access.
Going forward, increasing prevalence of cancer, aging population, increasing number of approvals, and targets and incentives are expected to drive the market. Factors that could hinder the growth of the market in the future include effect of COVID-19, stringent regulations related to biosimilar approvals, and prolonged production and approval time.
The pegfilgrastim biosimilars market is segmented by application into chemotherapy induced neutropenia, transplantation and others. The chemotherapy induced neutropenia was the largest segment of the pegfilgrastim biosimilars market segmented by application, accounting for 75.5% of the total in 2020. Going forward, the chemotherapy induced neutropenia segment is expected to be the fastest growing segment in the pegfilgrastim biosimilars market segmented by therapy type, at a CAGR of 15.2% during 2020-2025.
The pegfilgrastim biosimilars market is also segmented by distribution channel into hospital pharmacies, retail pharmacies and mail order pharmacies. The hospital pharmacies was the largest segment of the pegfilgrastim biosimilars market segmented by distribution channel, accounting for 87.7% of the total in 2020. Going forward, the mail order pharmacies segment is expected to be the fastest growing segment in the pegfilgrastim biosimilars market segmented by distribution channel, at a CAGR of 31.8% during 2020-2025.
North America was the largest region in the pegfilgrastim biosimilars market, accounting for 51.2% of the total in 2020. It was followed by the Western Europe, 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 large players in the market. The nine competitors in the market made 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 top opportunities in the pegfilgrastim biosimilars market segmented by application will arise in the chemotherapy induced neutropenia segment, which will gain $701.0 million of global annual sales by 2025. The top opportunities in the pegfilgrastim biosimilars market segmented by distribution channel will arise in hospital pharmacies segment, which will gain $612.3 million of global annual sales by 2025. The pegfilgrastim biosimilars market size will gain the most in the USA at $426.9 million.
Market-trend-based strategies for the pegfilgrastim biosimilars includes include taking advantage of the less stringent regulations to develop new and improved biosimilars, investing extensively in R&D activities for the development of effective and innovative biologics, focusing on establishing strategic partnerships with the large players to expand their research and developments activities in new drug developments and increasing their focus on M&A growth strategies to expand the customer base and their geographic markets, and increasing focus towards the production of biosimilars for neutropenia treatment to improve revenues and product offerings.
Player-adopted strategies in the pegfilgrastim biosimilars market include expanding business through commercialization of its products, strengthening business through different expansion strategies in different geographies, and getting drugs approvals in different geographies.
To take advantage of the opportunities, the publisher recommends the pegfilgrastim biosimilars companies to focus on robust research & development, focus on strategic partnerships for new product development, set up authorized distributors and sales representatives, provide competitively priced offerings in low-income countries, increase visibility through business websites and healthcare websites, focus on increasing awareness, targeting hospitals and pharmacies to spread awareness, focus on patients suffering from cancer.
Key Topics Covered:
1. Pegfilgrastim Biosimilars Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction
6.1. Segmentation By Geography
6.2. Segmentation By Application
6.3. Segmentation By Distribution Channel
7. Pegfilgrastim Biosimilars Market Characteristics
7.1. Market Definition
7.2. Market Segmentation By Application
7.2.1. Chemotherapy Induced Neutropenia
7.2.2. Transplantation
7.2.3. Others
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 Drug 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 Global Pegfilgrastim Biosimilars Market
9.2. Clinical Trial Delays
9.3. Impact On Patients
9.4. Impact On Major Players
9.5. Future Outlook
10. Global Pegfilgrastim Biosimilars Market Size And Growth
10.1. Market Size
10.2. Historic Market Growth, 2015 - 2020, Value ($ Million)
10.2.1. Drivers Of The Market 2015 - 2020
10.2.2. Restraints On The Market 2015 - 2020
10.3. Forecast Market Growth, 2020 - 2025, 2030F, Value ($ Million)
10.3.1. Drivers Of The Market 2020 - 2025
10.3.2. Restraints On The Market 2020 - 2025
11. Global Pegfilgrastim Biosimilars Market Segmentation
11.1. Global Pegfilgrastim Biosimilars Market, Segmentation By Application, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.1.1. Chemotherapy Induced Neutropenia
11.1.2. Transplantation
11.1.3. Others
11.2. Global Pegfilgrastim Biosimilars Market, Segmentation By Distribution Channel, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.2.1. Hospital Pharmacies
11.2.2. Retail Pharmacies
11.2.3. Mail-Order Pharmacies
12. Pegfilgrastim Biosimilars Market, Regional And Country Analysis
12.1. Global Pegfilgrastim Biosimilars Market, By Region, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12.2. Global Pegfilgrastim Biosimilars Market, By Country, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
Companies Mentioned
- Coherus BioSciences
- Biocon/Mylan
- Sandoz (Novartis)
- Intas Biopharmaceuticals Ltd.
- Mundipharma GmbH
- Dr. Reddy's Laboratories
- Pfizer Inc.
- Emcure Pharmaceuticals (Gennova Biopharmaceuticals Ltd.)
- USV Private Limited
For more information about this report visit https://www.researchandmarkets.com/r/3ppitq
