Filgrastim Biosimilars Global Market Report 2023

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Major players in the filgrastim biosimilars market are Cadila Pharmaceuticals, Dr. Reddy’s Laboratories, Intas Biopharmaceuticals, Sandoz, Amgen Inc., Dr. Reddy’s Laboratories Ltd, Intas Pharmaceuticals, Emcure Pharmaceuticals Ltd.

New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Filgrastim Biosimilars Global Market Report 2023" - https://www.reportlinker.com/p06241850/?utm_source=GNW
, Biocon and Aryogen Biopharma.

The global filgrastim biosimilars market is expected to grow from $0.75 billion in 2021 to $0.88 billion in 2022 at a compound annual growth rate (CAGR) of 17.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The filgrastim biosimilars market is expected to reach $1.19 billion in 2026 at a CAGR of 8.0%.

The filgrastim biosimilars consists of sales of zarxio, nivestym, and releuko.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

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.

North America was the largest region in the filgrastim biosimilars market in 2022.Middle East is expected to be the fastest growing region in 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 and Africa.

The main types of manufacturing in filgrastim biosimilar are in-house manufacturing and contract manufacturing organization.A contract manufacturing organization, also known as a contract development and manufacturing organization, is a corporation that provides entire services to other pharma firms on a contractual basis, from drug discovery to drug production.

The different applications include oncology, chronic and autoimmune diseases, blood disorders, growth hormone deficiency, infectious diseases, and others and are distributed through various channels such as hospital pharmacies, retail pharmacies, and online pharmacies.

Government initiatives for the development of biosimilars are expected to drive the filgrastim biosimilars market over the coming years.Governments worldwide are focusing on the development of biosimilars attributing to their cost-effective nature.

The US Food and Drug Administration (FDA) launched a Biosimilar Action Plan, to increase treatment options.The Australian government is committed to the Biosimilar Awareness Initiative and they improved their commitment by supporting the Generic and Biosimilar Medicines Association through a grant of $5 million to accept increased general biosimilar education and activities that promote the suitable dispensing, prescription, and use of biosimilar medicines.

Hence, the government initiatives for the development of biosimilars aid in the increased production and awareness which in turn supported the growth of the filgrastim biosimilars market.

Stringent regulations imposed on approvals of biosimilars are anticipated to hinder the growth of the filgrastim biosimilar market in the forecast period.The governments of different regions impose different rules regarding the production and use of biologics and biosimilars.

Further, issues such as patent infringement or agreement issues restrict the manufacturers of biosimilars from commercializing the government-approved biosimilars.The US Food and Drug Administration requires double regulatory approval for biosimilars, restricting the use of biosimilars as an interchangeable drugs for biologics, whereas, in Europe, the European Medicines Agency (EMA) approves biosimilars as interchangeable products for biologics.

For instance, Sandoz got USFDA approval for its 1st biosimilar ZarxioTM (filgrastim-and) of original biologic Neupogen.The consent depended on a comprehensive package of analytical, nonclinical, and clinical information, which verified that Zarxio is highly similar to the US-licensed reference product.

To get this approval Sandoz even had to fight a legal battle with Amgen which claims that Sandoz has infringed its manufacturing process. These kinds of hurdles can restrict the growth of the filgrastim biosimilar market.

Companies in the pegfilgrastim biosimilar market are increasing their product innovation through strategic collaborations.To sustain in the increasingly competitive market, companies are developing innovative products as well as sharing skills and expertise with other companies.

While companies have long collaborated as well as academic and research institutions in this market by way of partnerships or out-licensing deals, this trend has been increasing over recent years.For instance, in April 2020, Biocon, an India-based biopharmaceutical company partnered with Mylan, a US-based generic and specialty pharmaceuticals company to introduce Fulphila, biosimilar pegfilgrastim in Australia.

Fulphila has been licensed by the Therapeutic Goods Administration for the therapy of oncology patients who have had chemotherapy to shorten the length of acute neutropenia and hence the risk of infection, as evidenced by febrile neutropenia.

In March 2022, Biocon Biologics, an India-based fully integrated biopharmaceutical company, acquired Viatris Inc for $3.3 billion. This acquisition would build a distinctive, fully integrated, global biosimilars enterprise. This strategic alliance combines the strengths and complementary skills of both parties, positioning Biocon Biologics for the next ten years of value generation for all of our stakeholders. Viatris Inc is a US-based pharmaceutical company and developed a biosimilar of pegfilgrastim.

The countries covered in the filgrastim biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The filgrastim biosimilars market research report is one of a series of new reports that provides filgrastim biosimilars market statistics, including filgrastim biosimilars industry global market size, regional shares, competitors with a filgrastim biosimilars market share, detailed filgrastim biosimilars market segments, market trends and opportunities, and any further data you may need to thrive in the filgrastim biosimilars industry. This filgrastim biosimilars market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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