Global Pegfilgrastim Biosimilar Market: Snapshot
Biosimilar is referred to a medical product that is similar to existing drug produced by a well-established company. These medications need independent approval for clinical trials. Filgrastim is a drug widely used for the treatment of low levels of blood neutrophils, which can occur due to HIV/AIDS, chemotherapy, radiation poisoning, or any other unidentified source. Filgrastim biosimilar are mostly used to boost the growth of white blood cells. This, these drugs help an individual to develop an ability to fight with infections.
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TMR’s upcoming research report on the global pegfilgrastim biosimilar market gives 360-degree analysis of vital elements such as challenges, drivers, restraints, and opportunities in this market. Apart from this, the report sheds light on the competitive landscape and regional outlook of the market for pegfilgrastim biosimilar. Thus, the report is a valuable guidebook of the pegfilgrastim biosimilar market for the period of 2020 to 2030.
The report performs segmentation of the global pegfilgrastim biosimilar market based on various key factors such as distribution channels, application type, and region. Depending on application type, the market for pegfilgrastim biosimilar is bifurcated into transplantation and chemotherapy treatment.
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Global Pegfilgrastim Biosimilar Market: Growth Dynamics
The global pegfilgrastim biosimilar market is growing on the back of increased cases of various diseases including cancer and HIV/AIDS. Pegfilgrastim biosimilar are used in the treatment of low blood neutrophils levels and for fighting various infections in patients who are gone through radiation poisoning and chemotherapy. The products from pegfilgrastim biosimilar market are gaining traction across the world owing to their cost-effectiveness than pegfilgrastim. This scenario depicts that the market for pegfilgrastim biosimilar will expand at rapid pace in the forthcoming years.
However, pegfilgrastim biosimilar market is predicted to witness limitation in growth during forecast period of 2020 to 2030. This situation is attributed to several adverse effects of pegfilgrastim biosimilar. Acute respiratory distress syndrome, bone pain, and spleen rupture are some of the key adverse effects of pegfilgrastim biosimilar. This factor is hindering the growth of the global pegfilgrastim biosimilar market.
This aside, absence of appropriate reimbursement policies for biosimilar is one of the important factors obstructing the expansion of pegfilgrastim biosimilar market.
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Global Pegfilgrastim Biosimilar Market: Notable Development and Competitive Analysis
The nature of global pegfilgrastim biosimilar market is fairly fragmented. With presence of considerable number of active players, the competitive landscape of the market for pegfilgrastim biosimilar is highly intense. Several enterprises working in this market are growing focus on getting FDA approval products. This move is helping them to gain prominent position in this market. Many players are strengthening their distribution channels. All these efforts suggest that the global pegfilgrastim biosimilar market will grow at considerable rate in the years ahead.
The list of key players in the global pegfilgrastim biosimilar market includes:
- Cinfa Biotech
- USV Biologics
- Stada Arzneimittel/Gedeon Richter
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Global Pegfilgrastim Biosimilar Market: Regional Assessment
The global pegfilgrastim biosimilar market shows presence in many regions including APEJ, the Middle East and Africa, Latin America, North America, Europe, CIS and Russia, and Japan. Of them, North America is one of the prominent regions of the market for pegfilgrastim biosimilar. Key reason attributed to this growth is improved expenditure on healthcare, growing number of people living with cancer, and affordability of health services in this region.
This aside, pegfilgrastim biosimilar market will show prominent growth in Australia and the New Zealand. Increased number of people living with acute cancer, HIV/AIDS, chronic neutropenia is projected to drive market growth in the region.
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