The filgrastim biosimilars market consists of sales of filgrastim biosimilars and related services by entities (organizations, sole traders and partnerships) that manufacture filgrastim biosimilars. Filgrastim biosimilar treatment is used to stimulate the bone marrow to produce more neutrophils (white blood cells) to fight infection in patients undergoing chemotherapy for cancer treatment. Only goods and services traded between entities or sold to end consumers are included.
The global filgrastim biosimilars market is expected to decline from $511.15 million in 2019 to $445.04 million in 2020 at a compound annual growth rate (CAGR) of -12.93%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $751.96 billion in 2023 at a CAGR of 19.11%.
