How Will The Filgrastim Biosimilar Market Grow In 2022?
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The filgrastim biosimilar market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of %, as per The Business Research Company’s market report!
Read More On The Filgrastim Biosimilar Market Report 2022 – https://www.thebusinessresearchcompany.com/report/filgrastim-biosimilar-global-market-report
The Filgrastim Biosimilar Market Size In 2022 And Forecast
The global filgrastim biosimilar market is expected to grow from $0.75 billion in 2021 to $0.88 billion in 2022 at a compound annual growth rate (CAGR) of 17.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The filgrastim biosimilars market is expected to reach $1.19 billion in 2026 at a CAGR of 8.0%.
The filgrastim biosimilars market consists of sales of filgrastim biosimilars and related services by entities (organizations, sole traders and partnerships) that manufacture filgrastim biosimilars.
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Government Initiatives For The Development Of Biosimilars Is Driving The Growth Of The Filgrastim Biosimilar Market
The US Food and Drug Administration (FDA) launched a Biosimilar Action Plan, to increase treatment options. The Australian government is committed to the Biosimilar Awareness Initiative and they improved their commitment by supporting the Generic and Biosimilar Medicines Association through a grant of $5 million to accept increased general biosimilar education and activities that promote the suitable dispensing, prescription and use of biosimilar medicines. Hence, the government initiatives for the development of biosimilars aids in the increased production and awareness which in turn supported the growth of the filgrastim biosimilars market.
Competitive Landscape And The Regional Analysis Of The Filgrastim Biosimilar Market
Major players in the filgrastim biosimilar market are Cadila Pharmaceuticals, Dr. Reddy’s Laboratories, Intas Biopharmaceuticals, Sandoz, Amgen Inc., Dr. Reddy’s Laboratories Ltd, Intas Pharmaceuticals, Emcure Pharmaceuticals Ltd., Biocon and Aryogen Biopharma.
Additionally, as per TBRC’s research – North America was the largest region in the filgrastim biosimilar market in 2021 holding the largest market share and Middle East is expected to be the fastest-growing region in the forecast period.
The Filgrastim Biosimilar Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the filgrastim biosimilar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the filgrastim biosimilar market.
Product Innovation – A Key Trend In The Filgrastim Biosimilar Market
Companies in the pegfilgrastim biosimilar market are increasing their product innovation through strategic collaborations. To sustain in the increasingly competitive market, companies are developing innovative products as well as sharing skills and expertise with other companies. While companies have long collaborated as well as academic and research institutions in this market by way of partnerships or out-licensing deals, this trend has been increasing over recent years.
Filgrastim Biosimilar Market Segmentation By The Business Research Company
1) By Application: Oncology, Chronic and Autoimmune Diseases, Blood Disorders, Growth Hormone Deficiency, Infectious Diseases, Others
2) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
3) By Type of Manufacturing: In-House Manufacturing, Contract Manufacturing Organization
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