New Study Reveals Increased Access and Cost Savings with Growing Pegfilgrastim Biosimilar Market | Fact.MR Report

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.

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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.

Key Takeaways of Pegfilgrastim Biosimilar Market

• Increasing demand for cost-effective treatment options: Pegfilgrastim is a biologic drug used to stimulate the production of white blood cells in cancer patients undergoing chemotherapy. Biosimilar versions of pegfilgrastim offer a more affordable alternative to the originator drug, making it an attractive option for healthcare providers and patients seeking cost-effective treatment options. The market for pegfilgrastim biosimilars is driven by the growing need to reduce healthcare costs without compromising on the quality and efficacy of treatment.

• Expanding market competition and product availability: The pegfilgrastim biosimilar market is witnessing increasing competition as more manufacturers enter the space. With the expiration of patents on the originator drug, biosimilar manufacturers have been able to develop and commercialize their versions of pegfilgrastim. This has led to a wider range of options for healthcare providers and increased accessibility to pegfilgrastim treatment, creating a more competitive market landscape.

• Regulatory support for biosimilars: Regulatory bodies, including the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), have established robust guidelines and frameworks for the approval and market entry of biosimilars. This regulatory support has facilitated the development and commercialization of pegfilgrastim biosimilars, providing manufacturers with a clear pathway to bring their products to market. The regulatory backing has increased confidence among healthcare providers and patients regarding the safety, efficacy, and interchangeability of pegfilgrastim biosimilars.

• Cost-saving potential for healthcare systems: Pegfilgrastim biosimilars offer significant cost savings for healthcare systems, especially in regions where the use of biosimilars is encouraged or mandated. The lower price point of biosimilars can help alleviate the financial burden on healthcare systems, allowing for broader patient access to treatment. This cost-saving potential has garnered attention from healthcare policymakers and payers, leading to increased adoption and utilization of pegfilgrastim biosimilars in some markets.

• Ongoing clinical evidence and real-world data: As more pegfilgrastim biosimilars enter the market, there is a growing body of clinical evidence and real-world data supporting their safety and efficacy. This evidence contributes to the confidence of healthcare providers and patients in using biosimilars, further driving market growth. Long-term studies and post-marketing surveillance are crucial in establishing the performance and reliability of pegfilgrastim biosimilars and solidifying their position in the market.

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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

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Key Questions Covered in the Pegfilgrastim
Biosimilar Market Report:

• What is the projected value of the Pegfilgrastim Biosimilar factors Industry in 2022?
• At what rate will the global Pegfilgrastim Biosimilar factors market size grow until 2026?
• Which are the factors hampering the growth of Pegfilgrastim Biosimilar factors?
• Which region is expected to lead in the global Pegfilgrastim Biosimilar factors market by 2026?
• Which are the factors driving the Pegfilgrastim Biosimilar factors Industry during the forecast period?
• What is the expected market value of the Pegfilgrastim Biosimilar factors market during the forecast period?

Regional Analysis for Pegfilgrastim Biosimilar Market:

• APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (USA, Canada and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, United Arab Emirates, South Africa)

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This release was published on openPR.