According to Fact MR’s recent market research, Pegfilgrastim Biosimilar sales to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges. Focus on improving overall patient care will remain a chief growth driver. Besides this, Pegfilgrastim Biosimilar market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Pegfilgrastim Biosimilar market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Pegfilgrastim Biosimilar
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Digital Transformation in Healthcare Presenting Opportunities for Pegfilgrastim Biosimilar Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.
Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Pegfilgrastim Biosimilar market.
The report offers actionable and valuable market insights of Pegfilgrastim Biosimilar. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Pegfilgrastim Biosimilar Market across various industries and regions.
This newly published and insightful report sheds light on Market Insights of Pegfilgrastim Biosimilar, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Pegfilgrastim Biosimilar Market.
Chemotherapy and/or radiotherapy is used for the treatment of most cancers. However, chemotherapy and radiotherapy have a very common side effect called neutropenia, and pegfilgrastim is required for its treatment. A study conducted on patients who received chemotherapy in 2016-2017 to evaluate the occurrence of chemotherapy-induced febrile neutropenia (CIFN) showed that, out of 200 patients, 9.5% patients developed neutropenia. Neutropenia patients are highly susceptible to infections, and for this reason, it is a life-threatening disease. Pegfilgrastim is advantageous over filgrastim in relatively decreasing the incidence of febrile neutropenia. In the future, pegfilgrastim biosimilars will provide better access to this treatment.
The pricing of pegfilgrastim biosimilar is around 25% to 30% lower as compared to originator products (i.e. Neulasta by Amgen). Lower prices of pegfilgrastim biosimilars are expected to enhance their adoption for neutropenia treatment in developed as well as developing countries, as multiple regional and global players are seeking to get marketing approval in various countries.
All in all, rising incidence of cancer and increasing use of chemotherapy for treatment will aid the expansion of the pegfilgrastim biosimilar market, which was valued at US$ 944 Mn in 2019, and is expected to exhibit a CAGR of over 10% over the forecast period (2020–2026).
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Key Takeaways from Pegfilgrastim Biosimilar Market Study
- The hospital pharmacies segment under the distribution channel category held half of the global pegfilgrastim biosimilar market share in 2019, owing to increasing cancer treatments such as chemotherapy and others. Retail pharmacies followed due to increasing number of prescriptions.
- North America holds almost 3/4 of the global pegfilgrastim biosimilar market, followed by Europe, owing to large number of product launches in these regions.
- The East Asia market year-on-year growth is expected to rapidly surge in the near future. This growth is due to increasing pool of patients and advancements in healthcare with government support, which will propel pegfilgrastim biosimilar market growth in Asian countries.
- The COVID-19 pandemic that has swept the world is projected to have only a moderate impact on the progress of the pegfilgrastim biosimilar market.
“Increasing demand for cost-effective therapeutics such as biosimilars and patent expiration of blockbuster biologics will provide competitive benefits to market players in terms of new product development,” says a Fact.MR analyst.
Increasing Consolidation among Key Players and New Product Launches
Increase in value chain partnerships and market consolidation activities such as collaborations, partnerships, and M&A among market players will be a significant tool to increase their capabilities and speed to market for new launches. For instance, Mylan and Biocon collaboratively worked on a partnership to launch Pegfilgrastim biosimilar Fulphila.
Manufacturers are making efforts to develop biosimilars, and, so far, in 2020, there were 4 biosimilar launches in the United States, and many more are anticipated to be launched. It is estimated that, the pipeline from 2021 to 2025 will have at least 5 approved biosimilars.
Key Segments of Pegfilgrastim Biosimilar Market
Fact.MR’s study on the pegfilgrastim biosimilar market offers information divided into two important segments-distribution channel and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories, for the better understanding of readers.
- Hospital Pharmacies
- Retail Pharmacies
- Mail-Order Pharmacies
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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Report Benefits & Key Questions Answered
- Pegfilgrastim Biosimilar Category and segment level analysis:Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Pegfilgrastim Biosimilar Historical volume analysis: The report provides a comparison of Pegfilgrastim Biosimilar’s historical sales and projected sales performance for 2021-2031.
- Pegfilgrastim Biosimilar Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Pegfilgrastim Biosimilar market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Pegfilgrastim Biosimilar Consumption by demographics: The report investigates consumer behavior affecting Pegfilgrastim Biosimilar demand outlook for the assessment period. Effect of their keenness for digital trends on Pegfilgrastim Biosimilar market is carefully analyzed
- Post COVID consumer spending on Pegfilgrastim Biosimilar: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Pegfilgrastim Biosimilar market growth.
More Valuable Insights on Pegfilgrastim Biosimilar Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Pegfilgrastim Biosimilar, Sales and Demand of Pegfilgrastim Biosimilar, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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