Pegfilgrastim Biosimilars Market 2024 Trends, Business Growth And Major Driving Factors 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Pegfilgrastim Biosimilars Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The pegfilgrastim biosimilars market size has grown rapidly in recent years. It will grow from $1.59 billion in 2023 to $1.75 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to 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 pegfilgrastim biosimilars market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to increasing prevalence of cancer, aging population, increasing number of approvals, and targets and incentives . Major trends in the forecast period 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.

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Key Market Players:

Major companies operating in the pegfilgrastim biosimilars market report are Coherus BioSciences, Sandoz, Biocon/Mylan, Intas Biopharmaceuticals Ltd, Mundipharma GmbH, Dr. Reddy's Laboratories, Pfizer Inc., Emcure Pharmaceuticals, USV Private Limited, Apotex Pty Ltd, Kyowa Kirin Co. Ltd, Qilu Pharmaceutical, Gennova Biopharmaceuticals Limited, Lupin Limited, Coherus Biosciences Inc, Fresenius Kabi, Napp Pharmaceuticals, Boicon, Amega Biotech.

Market Drivers:

Government initiatives for the development of biosimilars are expected to drive the pegfilgrastim biosimilars market. Governments worldwide are focusing on the development of biosimilars due to their cost-effective nature. 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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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

The report answers the following questions:

What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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