Global $1.25+ Billion Filgrastim Biosimilars Market to 2030: Increase in Patent Expiration, Government Initiatives, Increased Expenditure, Low Cost of Biosimilars, Strong Pipeline of Drugs

DUBLIN, Jan. 18, 2021 /PRNewswire/ -- The "Filgrastim Biosimilars Global Market Opportunities and Strategies to 2030: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.

Global Filgrastim Biosimilars Market Opportunities and Strategies to 2030: COVID 19 Implications and Growth provides the strategists, marketers and senior management with the critical information they need to assess the global Filgrastim Biosimilars market.

The global filgrastim biosimilars market reached a value of nearly $785.33 million in 2019, having increased at a compound annual growth rate (CAGR) of 12.13% since 2015. The market is expected to grow from $785.33 million in 2019 to $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%.

Growth in the historic period resulted from 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. This growth was restricted by low number of drug approvals and lack of awareness on biosimilars among primary care physicians and specialists.

Going forward, aging population, increase in healthcare access, and rising prevalence of chronic diseases are expected to drive the market. Rise of pegfilgrastim, stringent regulations related to biosimilar approvals, prolonged production and approval times and impact of COVID-19 are major factors that could hinder the growth of the filgrastim biosimilars market in the future.

The filgrastim biosimilars market is segmented by application into oncology, chronic and autoimmune diseases, blood disorders, growth hormone deficiency, and others. The oncology was the largest segment of the filgrastim biosimilars market by application, accounting for 61.3% of the total market in 2019. Going forward, oncology is expected to be the fastest growing segment in the filgrastim biosimilars market, at a CAGR of 6.0%.

The filgrastim biosimilars market is also segmented by distribution channel into hospital pharmacies, retail pharmacies and online pharmacies. The hospital pharmacies was the largest segment of the filgrastim biosimilars market by type, accounting for 91.7% of the total market in 2019. Going forward, the retail pharmacies segment is expected to be the fastest growing segment in the filgrastim biosimilars market, at a CAGR of 16.7%.

Western Europe was the largest region in the global filgrastim biosimilars market, accounting for 47.3% of the total in 2019. It was followed by the North America, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the filgrastim biosimilars market will be Asia Pacific and Middle East, where growth will be at CAGRs of 15.4% and 14.4% respectively. These will be followed by South America and Eastern Europe, where the markets are expected to register CAGRs of 12.5% and 9.6% respectively.

The filgrastim biosimilars market is highly concentrated, with a small number of large players in the market. The top ten competitors in the market constituting more than 98% of the total market in 2019. Major players in the market include Teva Pharmaceutical Industries, Novartis International AG, Biocon Limited, Intas Biopharmaceuticals and Dr. Reddy's Laboratories.

The top opportunities in the filgrastim biosimilars market segmented by application will arise in the oncology segment, which will gain $57.5 million of global annual sales by 2023. The top opportunities in the filgrastim biosimilars market segmented by distribution channel will arise in the online pharmacies segment, which will gain $49.1 million of global annual sales by 2023. The filgrastim biosimilars market size will gain the most in the USA at $21.9 million.

Market-trend-based strategies for the filgrastim biosimilars market includes 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. Player-adopted strategies in the filgrastim biosimilars market include investing in expanding operations through innovative product launches, strategic partnerships, acquisitions and mergers to strengthen their service offerings.

To take advantage of the opportunities, the publisher recommends the filgrastim biosimilars market companies to focus on a strategic partnerships, focus on research & development, focus on the production of biosimilars for neutropenia treatment, expand in emerging markets, leverage e-commerce to maximize reach and revenues, leverage online pharmacies, set up authorized distributors and sales representatives, provide competitively priced offerings in low-income countries to reach new users companies, focus on creating awareness, participate in trade shows and events and focus on creating awareness among patients and doctors.

Key Topics Covered:

1. Filgrastim Biosimilars Market Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction

6.1.1. Segmentation by Geography

6.1.2. Segmentation by Application

6.1.3. Segmentation by Distribution Channel

7. Filgrastim Biosimilars Market Characteristics

7.1. Market Definition

7.2. Market Segmentation by Application

7.2.1. Oncology

7.2.2. Chronic and Autoimmune Diseases

7.2.3. Blood Disorders

7.2.4. Growth Hormone Deficiency

7.2.5. Others

7.3. Market Segmentation by Distribution Channel

7.3.1. Hospital Pharmacies

7.3.2. Retail Pharmacies

7.3.3. Online Pharmacies

8. Filgrastim Biosimilars Market Trends and Strategies

8.1. Shift Towards Development of Biosimilars

8.2. Demand For Biosimilars in The Treatment of Neutropenia

8.3. Revised FDA Regulations To Facilitate Biosimilar Drug Development

8.4. Higher Investments

8.5. Growing Mergers and Acquisitions

9. COVID-19 Impact On The Filgrastim Biosimilars Market

10. Global Filgrastim Biosimilars Market Size and Growth

10.1. Market Size

10.2. Historic Market Growth, 2015-2019, Value ($ Million)

10.2.1. Drivers of The Market 2015-2019

10.2.2. Restraints On The Market 2015-2019

10.3. Forecast Market Growth, 2019-2023, 2025F, 2030F Value ($ Million)

10.3.1. Drivers of The Market 2019-2023

10.3.2. Restraints On The Market 2019-2023

11. Global Filgrastim Biosimilars Market Segmentation

11.1. Global Filgrastim Biosimilars Market, Segmentation by Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Million)

11.1.1. Oncology

11.1.2. Chronic and Autoimmune Diseases

11.1.3. Blood Disorders

11.1.4. Others

11.1.5. Growth Hormone Deficiency

11.2. Global Filgrastim Biosimilars Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Million)

11.2.1. Hospital Pharmacy

11.2.2. Retail Pharmacy

11.2.3. Online Pharmacy

12. Filgrastim Biosimilars Market, Regional and Country Analysis

12.1. Global Filgrastim Biosimilars Market, by Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Million)

12.2. Global Filgrastim Biosimilars Market, by Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Million)

Companies Mentioned

• Teva Pharmaceutical Industries Ltd.
• Novartis International AG
• Biocon Limited
• Intas Biopharmaceuticals
• Dr. Reddy's Laboratories

For more information about this report visit https://www.researchandmarkets.com/r/tnwnmn

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