The pegfilgrastim biosimilars market consists of the sales of pegfilgrastim biosimilars and related services offered by the companies that develop and manufacture them. Pegfilgrastim is a version of filgrastim (Neupogen) and is used to increase the production of infection-fighting white blood cells for the treatment of cancer patients undergoing chemotherapy. Pegfilgrastim biosimilars find their applications in reducing infection for patients undergoing anticancer therapy.
The global pegfilgrastim biosimilar market is expected to decline from $534.43 million in 2019 to $453.11 million in 2020 at a compound annual growth rate (CAGR) of -15.22%. 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 $1,158.72 million in 2023 at a CAGR of 36.75%.