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2024 Filgrastim Biosimilars Market: Size, Growth, Share, Trends, Forecast To 2033
Filgrastim Biosimilars Market
Filgrastim Biosimilars Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1.66 billion In 2028 At A CAGR Of 10.7% :
The filgrastim biosimilars market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.1 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to emerging markets growth, increase in patent expiration, government initiatives, increased healthcare expenditure, low cost of biosimilars, strong pipeline of drugs and increase in biopharmaceutical r&d expenditure.
The filgrastim biosimilars market size is expected to see rapid growth in the next few years. It will grow to $1.66 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to aging population, increase in healthcare access,. Major trends in the forecast period include investing extensively in r&d activities for the development of effective and innovative biosimilars, production of biosimilars for neutropenia treatment to improve revenues and increasing their focus on m&a growth strategies.
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Filgrastim Biosimilars Market Major Segments
The filgrastim biosimilars market covered in this report is segmented -
1) By Type Of Manufacturing: In-House Manufacturing, Contract Manufacturing organization
2) By Application: Oncology, Chronic And Autoimmune Diseases, Blood Disorders, Growth Hormone Deficiency, Other Applications
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
Key Driver - Neutropenia Prevalence Drives Growth In The Filgrastim Biosimilar Market
The increasing prevalence of neutropenia is expected to propel the growth of the filgrastim biosimilar market going forward. Neutropenia refers to a condition where the body does not have enough neutrophils, which are an important type of white blood cell that fights infections. Filgrastim biosimilars work by stimulating the production of neutrophils in the bone marrow, which increases the neutrophil count and helps fight infections. For instance, in August 2022, according to the National Center for Biotechnology Information, a US-based database for biomedical literature, the prevalence of neutropenia was 0.38% among Mexican-Americans, 0.79% among whites, and 4.5% among black participants. Thus, the increasing prevalence of neutropenia is driving the growth of the filgrastim biosimilar market.
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Prominent Trend - Amneal Pharmaceuticals' Fylnetra Marks A New Era Of Accessible Healthcare With Recombinant Dna Technology
Major companies operating in the filgrastim biosimilar market are developing innovative products with advanced technologies such as recombinant DNA technology to produce biosimilars. Recombinant DNA technology is a process that involves the creation of hybrid or chimeric DNA by inserting a foreign sequence into the DNA of an organism. For instance, in May 2023, Amneal Pharmaceuticals, a US-based pharmaceutical company launched FYLNETRA (pegfilgrastim-pbbk), a biosimilar to Amgen's NEULASTA, in the United States indicated for the treatment and prevention of febrile neutropenia. It promotes the expansion and specialization of neutrophils originating from dedicated precursor cells, triggers their maturation, and improves the viability and efficiency of fully developed neutrophils, leading to dosage-dependent rises in neutrophil counts. The launch of Fylnetra contributes to the next wave of affordable medicines and drives access across patients, providers, and payors.
Filgrastim Biosimilars Market Players
Major companies operating in the filgrastim biosimilars market report are Teva Pharmaceutical Industries Ltd, Novartis International AG, Biocon Limited, Intas Biopharmaceuticals, Dr. Reddy's Laboratories, Pfizer, Cadila Healthcare Ltd, Abbott Laboratories, Reliance Life Science Pvt. Ltd, Gennova Biopharmaceuticals (Emcure), Sandoz Pty Ltd, Apotex Pty Ltd, Mylan, Kyowa Kirin Co. Ltd, Lupin Limited, Biocon Biologics, Coherus Biosciences Inc., North China Pharmaceutical Corporation, Tonghua Dongbaoare, Beijing SL Pharmaceutical, Mochida Pharmaceutical, Fuji Pharma, Amgen (Europe) GmbH, Napp Pharmaceuticals, Adello Biologics, Apobiologix (Apotex), Hospira, Tanvex BioPharma, Eurofarma Laboratórios
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Largest And Fastest Growing Region In The Market
North America was the largest region in the filgrastim biosimilar markets market in 2023. The Middle East is expected to be the fastest growing region in the global filgrastim biosimilar markets market during the forecast period. The regions covered in the filgrastim biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Filgrastim Biosimilars Market Report Structure
3. Filgrastim Biosimilars Market Trends And Strategies
4. Filgrastim Biosimilars Market - Macro Economic Scenario
5. Filgrastim Biosimilars Market Size And Growth
…..
27. Filgrastim Biosimilars Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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