Overview and Scope
Filgrastim biosimilars refer to a biosimilar that is intended to treat patients who suffer bone marrow damage from extremely high radiation doses in a manner similar to how it helps cancer patients by stimulating the formation of white blood cells, making patients less susceptible to infections.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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
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Major Driver Impacting Market Growth
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.
Key Industry 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
The filgrastim biosimilars market report table of contents includes:
1. Executive Summary
2. Filgrastim Biosimilars Market Characteristics
3. Filgrastim Biosimilars Market Trends And Strategies
4. Filgrastim Biosimilars Market – Macro Economic Scenario
5. Global Filgrastim Biosimilars Market Size and Growth
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32. Global Filgrastim Biosimilars Market Competitive Benchmarking
33. Global Filgrastim Biosimilars Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Filgrastim Biosimilars Market
35. Filgrastim Biosimilars Market Future Outlook and Potential Analysis
36. Appendix
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