Filgrastim Biosimilars Market - Filgrastim Biosimilars Market Forecast To 2030

The Business Research Company’s Filgrastim Biosimilars Market – Opportunities And Strategies – Global Filgrastim Biosimilars Market Forecast To 2030

LONDON, GREATER LONDON , UK, December 9, 2021 /EINPresswire.com/ -- The population profile of most countries is becoming older, thus driving the demand for biopharmaceuticals such as filgrastim biosimilars to treat the side effects caused by the treatment of various chronic diseases including cancer. The proportion of people above the age of 65 years increased globally and age-related chronic ailments also increased. For example, the percentage of seniors is expected to grow from 28% in 2019 to 38% in 2050 in Japan. The increase in the aging population has expanded the patient pool of many chronic diseases such as cancer. People suffering from these diseases are expected to be more vulnerable to chronic diseases, thus significantly impacting market growth during this period.

The global filgrastim biosimilars market size reached a value of nearly $860.12 million in 2023 at a rate of 2.30%. The growth is mainly due to the patent expiration of filgrastim biologics and government initiatives. The market is expected to grow from $860.12 million in 2023 to $984.23 million in 2025 at a CAGR of 6.97%. The market is expected to grow and reach $1,279.86 million in 2030 with a CAGR of 5.39%.

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Pharmaceutical companies are shifting towards biosimilar drug development. Pharma companies had focused on small molecules for decades, but the rate of innovation in that field has slowed dramatically, leading to the shift towards biosimilars. These research and development (R&D) activities have led to increasing success rates in clinical trials for biosimilars. R&D is being carried out by market leaders in the biosimilars market as they continuously strive to make breakthroughs in the form of new and effective biosimilars. The unmet needs with respect to chronic disease therapies help pharmaceutical companies to innovate and develop biologic molecules. For instance, Amgen and Kirin Holdings Company are developing a filgrastim biosimilar which stimulates the growth of white blood cells to treat neutropenia, a common adverse event in patients receiving chemotherapy for breast cancer. Currently, the drug is in Phase I/II clinical study for breast cancer patients. In June 2020, Pfizer, an American multinational pharmaceutical company, received approval from the US Food and Drug Administration to introduce its biosimilar drug for lowering the incidence of infection as manifested by febrile neutropenia in patients with non-myeloid malignancies receiving myelosuppressive anticancer drugs.

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Major players covered in the global filgrastim biosimilars industry are Teva Pharmaceutical Industries, Novartis International AG, Biocon Limited, Intas Biopharmaceuticals, Dr. Reddy’s Laboratories.

TBRC’s global filgrastim biosimilars market report is segmented by application into oncology, chronic and autoimmune diseases, blood disorders, growth hormone deficiency, infectious diseases, others, by distribution channel into hospital pharmacy, retail pharmacy, online pharmacy, by type of manufacturing into in-house manufacturing, contract manufacturing organization.

Filgrastim Biosimilars Market - By Application (Oncology, Chronic and Autoimmune Diseases, Blood disorders, Growth hormone deficiency), By Distribution Channel (Hospital pharmacies, Retail pharmacies, Online pharmacies), And By Region, Opportunities And Strategies – Global Filgrastim Biosimilars Market Forecast To 2030 is one of a series of new reports from The Business Research Company that provides filgrastim biosimilars market overview, filgrastim biosimilars market, filgrastim biosimilars market, filgrastim biosimilars market forecast filgrastim biosimilars market size and growth for the whole market, filgrastim biosimilars market segments, and geographies, filgrastim biosimilars market trends, filgrastim biosimilars market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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