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How Significant is the Anticipated Growth Rate of the Pegfilgrastim Biosimilars Market from 2025 to 2034?

The market size for pegfilgrastim biosimilars has seen rapid expansion in recent years. The market value is predicted to escalate from $1.56 billion in 2024 to $1.8 billion in 2025, with an annual growth rate (CAGR) of 15.3%. Factors that contributed to growth during the historical period include a rise in cancer prevalence, governmental actions, augmented healthcare spending, increased R&D expenditure in biopharmaceuticals, affordability of biosimilars, and widespread use of biosimilar drugs.

Over the next several years, the pegfilgrastim biosimilars market is predicted to experience accelerated growth. The market is projected to expand to $3.44 billion in 2029, with a compound annual growth rate (CAGR) of 17.5%. Factors contributing to this growth during the forecast period include a rise in the incidence of cancer, an older population, an increase in approvals, targets, and incentives. The period is likely to see trends such as leveraging less rigid regulations to create improved biosimilars, heavy investment in R&D for the production of efficient and creative biologics, a focus on forming strategic alliances with major players to broaden their R&D for new drug discoveries, growing their interest in M&A expansion tactics to increase their client base and geographical markets, and a heightened focus on the generation of biosimilars for neutropenia treatment to amplify revenues and product range.

How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the pegfilgrastim biosimilars Market?

In the pegfilgrastim biosimilars market, support and development efforts from the government are expected to be a significant driving factor. Because of their affordability, biosimilars are the target of development initiatives from global governments. Launching the Biosimilar Action Plan, the US Food and Drug Administration (FDA) aimed to enhance the availability of treatment alternatives. The Australian government is backing the Biosimilar Awareness Initiative, which they have bolstered by allocating a $5 million grant to the Generic and Biosimilar Medicines Association. The purpose of this grant money is to support the enhancement of general biosimilar education, along with initiatives encouraging appropriate dispensation, prescription and usage of biosimilar medications. Therefore, government-driven developmental efforts around biosimilars can facilitate increased production, awareness and subsequently the growth of the pegfilgrastim biosimilars market.

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Who Are the Dominant Players Pushing the Boundaries of the Pegfilgrastim Biosimilars Market?

Major companies operating in the pegfilgrastim biosimilars market include:

• Amgen_x000D_

• Mylan N.V._x000D_

• Sandoz (a Novartis division)_x000D_

• Teva Pharmaceutical Industries Ltd._x000D_

• Biocon_x000D_

How Are Market Trends Revolutionizing the Pegfilgrastim Biosimilars Industry in Recent Times?

Strategic collaborations for product innovation are on the rise in the pegfilgrastim biosimilar market as corporates strive to remain competitive. Not only are they creating innovative products, but they are also pooling resources and skills with other companies. Though collaborations with academic and research institutions are not new, they’ve been ramping up in recent years with more partnerships and out-licensing deals. A case in point is the May 2023 collaboration between US-based Amneal Pharmaceuticals and Kashiv Biosciences to develop and launch Fylnetra (pegfilgrastim-pbbk), a biosimilar pegfilgrastim delivered in a 6 mg/0.6 mL single-dose prefilled syringe. Fylnetra, a preservative-free clear solution, is used to mitigate the risk of infection, specifically febrile neutropenia, in non-myeloid cancer patients undergoing specific myelosuppressive anti-cancer treatments.

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Which Primary Segments of the Pegfilgrastim Biosimilars Market Are Driving Growth and Industry Transformations?

The pegfilgrastim biosimilars market covered in this report is segmented –

1) By Application: Chemotherapy Treatment, Transplantation, Other Applications

2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Mail-Order Pharmacies

Subsegments:

1) By Chemotherapy Treatment: Supportive Care for Cancer Patients, Reduction of Chemotherapy-Induced Neutropenia

2) By Transplantation: Hematopoietic Stem Cell Transplantation, Peripheral Blood Stem Cell Transplantation

3) By Other Applications: Treatment of Chronic Neutropenia, Treatment of Severe Congenital Neutropenia, Other Supportive Therapies in Oncology

Which Geographic Areas Are Influencing the Growth of the Pegfilgrastim Biosimilars Market?

North America was the largest region in the pegfilgrastim biosimilars market in 2024. Middle East is expected to be the fastest growing region in the global pegfilgrastim biosimilars market share during the forecast period. The regions covered in the pegfilgrastim biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Are the Core Features That Define the Pegfilgrastim Biosimilars Market?

Pegfilgrastim biosimilars refer to a biosimilar that is intended to be used in conjunction with supportive care for people with non-myeloid cancer. It can help prevent or treat infections brought on by myelosuppressive chemotherapy by promoting the formation of certain white blood cells.

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