The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s pegfilgrastim biosimilars market report forecasts the pegfilgrastim biosimilars market size to grow to $2.04 Billion by 2027, with a CAGR (compound annual growth rate) of more than 9%.

Learn More On The Pegfilgrastim Biosimilars Market Report 2023 – https://www.thebusinessresearchcompany.com/report/pegfilgrastim-biosimilar-global-market-report

Pegfilgrastim Biosimilars Market Size Forecast
The global pegfilgrastim biosimilars market is expected to grow from $1.28 billion in 2022 to $1.41 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. 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, causing inflation across goods and services and affecting many markets across the globe. The pegfilgrastim biosimilars market is expected to grow from $2.04 billion in 2027 at a CAGR of 9.7%.

North America held the largest pegfilgrastim biosimilars market share, and Middle East was the fastest-growing region in 2022.

Key Pegfilgrastim Biosimilars Market Driver ­– Increase In Production And Awareness By Government Initiatives For The Development Of Biosimilars
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 aid in the increased production and awareness that, in turn, support the growth of the pegfilgrastim biosimilars market.

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Key Pegfilgrastim Biosimilars Market Trend – Product Innovation Through Strategic Collaborations
Companies in the pegfilgrastim biosimilar market are increasing their product innovation through strategic collaborations. To sustain themselves 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 with academic and research institutions in this market by way of partnerships or out-licensing deals, this trend has been increasing over the past few years. For instance, in April 2020, Biocon, an India-based biopharmaceutical company, partnered with Mylan, a US-based generic and specialty pharmaceuticals company, to introduce Fulphila, a biosimilar pegfilgrastim, in Australia. Fulphila has been licenced by the Therapeutic Goods Administration for the therapy of oncology patients who have had chemotherapy to shorten the length of acute neutropenia and hence the risk of infection, as evidenced by febrile neutropenia.

Pegfilgrastim Biosimilars Market Segment
1) By Application: Chemotherapy Treatment, Transplantation, Other Applications
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Mail-Order Pharmacies

Pegfilgrastim Biosimilars Market Major Players and Strategies
Major players in the pegfilgrastim biosimilars market are Mylan, Biocon, Mundipharma, Pfizer, Sandoz, Coherus, Intas Pharmaceuticals, and Fresenius Kabi.

In February 2022, Biocon Biologics Ltd., an India-based fully integrated biopharmaceutical company, acquired Viatris ‘ biosimilar business for $3.34 billion. Through this acquisition, BBL would be able to direct-market more of its existing and upcoming biosimilars. In order to maintain customer service and facilitate a smooth transition to BBL, Viatris is expected to provide commercial and other transition services with this acquisition for an anticipated two-year term. Viatris Inc is a US-based pharmaceutical and healthcare corporation that has co-developed a biosimilar of pegfilgrastim.

The Pegfilgrastim Biosimilars Global Market Report 2023 covers regional data on pegfilgrastim biosimilars market size, pegfilgrastim biosimilars market trends and drivers, opportunities, strategies, and pegfilgrastim biosimilars market competitor analysis. The countries covered in the pegfilgrastim biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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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