Global Pegfilgrastim Biosimilars Market Grows With Increased Prevalence Of Cancer

According to The Business Research Company’s research report on the global pegfilgrastim biosimilars market, the pegfilgrastim biosimilars market size reached a value of nearly $0.8 billion in 2019. The market is expected to grow from $0.8 billion in 2019 to $1.1 billion in 2023 at a rate of 6.3%. The growth is mainly due to an increased prevalence of cancer and increased adoption of the biosimilars. The pegfilgrastim biosimilars market forecast is that it is expected to stabilize and reach $1.5 billion in 2025 and $3.6 billion in 2030. These drugs are used during the course of cancer treatment in order to reduce the infection risk for those patients undergoing immunosuppressant treatments, such as chemotherapy. The drug has further applications in protection from infections where the immune system is compromised, such as in bone marrow transplants.

London, (GLOBE NEWSWIRE) - (Pegfilgrastim Biosimilars Companies Included: Mylan, Biocon, Mundipharma, Pfizer, Sandoz, Coherus, Intas Pharmaceuticals, Fresenius Kabi)

The rising prevalence of chronic diseases is expected to be a major driver of the pegfilgrastim biosimilars market. Long working hours, limited physical activity, unhealthy eating and drinking habits contribute people suffering from these to be more vulnerable to chronic diseases, thus driving the need for pegfilgrastim biosimilars. According to a United Nations article, by 2030, the proportion of global deaths due to chronic diseases is expected to increase to 70% of total deaths. The global burden of chronic disease is expected to reach about 60%. According to the National Cancer Institute (NCI) report, it was estimated that 1.7 million new cases of cancer were diagnosed in the US in 2019, and 606,880 people are expected to die from the disease.

While there is an increase in diseases due to current lifestyles, the access to healthcare services is expected to improve in developing countries alongside. Effective implementation of government health plans is the core reason for the improvement in healthcare access in many developing regions such as India, China and many Latin American countries. Many countries like Russia and Brazil are focusing on improving their healthcare capabilities, which will help drive the pegfilgrastim biosimilars market.

The Business Research Company’s report titled Pegfilgrastim Biosimilars Global Market Report 2020-30: COVID-19 Growth and Change covers major pegfilgrastim biosimilars companies, pegfilgrastim biosimilars market share by company, pegfilgrastim biosimilars manufacturers, pegfilgrastim biosimilars infrastructure market size, and pegfilgrastim biosimilars market forecasts. The report also covers the global pegfilgrastim biosimilars market and its segments. The pegfilgrastim biosimilars market is segmented by application: chemotherapy treatment, transplantation, others, by distribution channel: hospital pharmacies, retail pharmacies, mail-order pharmacies.

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The global pegfilgrastim biosimilar market has seen decline in 2020 due to the COVID-19 pandemic and the measures taken to contain its spread. The restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulted in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. Pegfilgrastim is an extremely competitive drug category. While some biosimilar products such as Amgen’s reference product Neulasta® (the original syringe form) have been steadily losing market share since the COVID-19 outbreak, other biosimilars such as Coherus Bioscience’s Udenyca® have been steadily gaining market share. As recently as January 2020, Coherus reported that Udenyca’s US market share climbed to above 20%. According to Bernstein Research’s analysis, this figure reached 22% in March in the pegfilgrastim category. However, the US uptake for biosimilars is slow, and since the COVID outbreak, infliximab and pegfilgrastim have continued to decline as the market sees an increasing number of biosimilars.

Another effect of the coronavirus outbreak is that there has been a shift in patients’ preference for deferred care, as they do not want to visit hospitals or clinics to avoid exposure to the virus. In particular, patients who are undergoing chemotherapy for the treatment of cancer are immunocompromised and at high risk. The use of an on-body injector allows patients undergoing chemotherapy to skip at least a couple of in-person visits to the infusion center without exposing them to higher risks of neutropenia and infection. Therefore, the use of on-body injector technology seems to be a reasonable choice. Unfortunately, pegfilgrastim biosimilars were only available for administration by syringe at that time. However, in October 2020, Accord-UK launched Pelgraz® PFI, which comes in a device designed specifically to enable patients to confidently self-inject from their own homes. Pelgraz® PFI is a long-acting supportive therapy indicated to reduce the duration of neutropenia and the incidence of febrile neutropenia in adult patients undergoing cytotoxic chemotherapy, and provides patients with the convenience of a one dose per chemotherapy cycle regime.

Pegfilgrastim Biosimilars Global Market Report 2020-30: COVID-19 Growth and Change is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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