What Is The Current and Historic Market Size Analysis Of Filgrastim Biosimilars Market?
The filgrastim biosimilars market has seen considerable growth due to a variety of factors.
• In the previous years, the market size for filgrastim biosimilars has seen a powerful surge. The growth is projected to continue, with the market size expected to rise from $0.92 billion in 2024 to $0.98 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.9%.
The noteworthy growth during the historic period is accredited to the rise of emerging markets, the surge in patent expirations, government-driven initiatives, elevated healthcare spending, the affordability of biosimilars, a robust spectrum of drugs in the pipeline, and an increase in expenditure for biopharmaceutical research and development.
What Is The Forecast For The Filgrastim Biosimilars Market By 2029?
The filgrastim biosimilars market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions indicate robust expansion for the filgrastim biosimilars market in the forthcoming years. The market is projected to reach $1.21 billion by 2029, with a compound annual growth rate (CAGR) of 5.4%.
The projected growth during this period can be attributed to factors such as an aging population and enhanced healthcare access. Key trends during this forecast period will include substantial investment in research and development activities for the creation of effective and innovative biosimilars, focusing on the production of biosimilars specifically for treating neutropenia to increase revenue, and placing greater emphasis on Mergers & Acquisitions as growth strategies.
What Are The Core Factors Supporting Growth In Filgrastim Biosimilars Market?
The escalation in instances of neutropenia is projected to boost the filgrastim biosimilar market's growth. Neutropenia is identified as a state where the body lacks sufficient neutrophils, crucial white blood cells that combat infections. Filgrastim biosimilars operate by prompting the production of neutrophils in the bone marrow, consequently improving the neutrophil count and aiding in infection combat. To illustrate, the National Center for Biotechnology Information, a US-centric database for biomedical literature, stated in August 2022 that the occurrence of neutropenia was 0.38% in Mexican-Americans, 0.79% in whites, and 4.5% in black participants. Hence, the upsurge in neutropenia manifestation is fuelling the filgrastim biosimilar market's expansion.
How Is The Globa Filgrastim Biosimilars Market Divided Into Key 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
Subsegments:
1) By In-House Manufacturing: Proprietary In-House Manufacturing Facilities, Company-Owned Production Plants, Vertically Integrated Manufacturing
2) By Contract Manufacturing Organization: Full-Service Contract Manufacturing, Fill and Finish Services, API (Active Pharmaceutical Ingredient) Manufacturing, Specialized Biosimilar Manufacturing Services
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What Trends Are Reshaping The Filgrastim Biosimilars Market Landscape?
Leading businesses in the filgrastim biosimilar market are spearheading the creation of novel products through cutting-edge technologies like recombinant DNA technology for manufacturing biosimilars. This technology entails the formation of hybrid or chimeric DNA via the introduction of an alien sequence into an organism's DNA. As an example, Amneal Pharmaceuticals, a pharmaceutical firm in the US, in May 2023, broke new ground with the launch of FYLNETRA (pegfilgrastim-pbbk), a biosimilar equivalent of Amgen’s NEULASTA, marked for curing and protecting against febrile neutropenia in the US. It enhances and specialises the production of neutrophils derived from specific progenitor cells, stimulates their maturity, and maximises the survival and efficacy of fully mature neutrophils, causing dosage-related increases in neutrophil counts. The introduction of Fylnetra paves the way for future cost-effective medications and propels accessibility for patients, healthcare providers, and payors.
Who Are the Key Players in the Filgrastim Biosimilars Market?
Major companies operating in the filgrastim biosimilars market include:
• Teva Pharmaceutical Industries Ltd
• Novartis International AG
• Biocon Limited
• Intas Biopharmaceuticals
• Dr. Reddy's Laboratories
• Pfizer
• Cadila Healthcare Ltd
• Reliance Life Science Pvt. Ltd
• Gennova Biopharmaceuticals (Emcure)
• Sandoz Pty Ltd
• Mylan
• Lupin Limited
• Coherus Biosciences Inc.
• North China Pharmaceutical Corporation
• Tonghua Dongbaoare
• Beijing SL Pharmaceutical
• Fuji Pharma
• Adello Biologics
• Apobiologix (Apotex)
• Hospira
• Tanvex BioPharma
• Eurofarma Laboratórios
What are the Regional Insights into the Filgrastim Biosimilars Market?
North America was the largest region in the filgrastim biosimilar markets market in 2024. 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
