Filgrastim Biosimilars Global Market Report 2024

The filgrastim biosimilars market size has grown strongly in recent years. It will grow from $1.02 billion in 2023 to $1.1 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth witnessed in the historical period can be ascribed to the expansion of emerging markets, the rise in patent expiration, government initiatives, augmented healthcare expenditure, cost-effectiveness of biosimilars, a robust drug pipeline, and an upswing in biopharmaceutical research and development expenditure.

The filgrastim biosimilars market size is expected to see rapid growth in the next few years. It will grow to $1.66 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The anticipated growth in the forecast period can be attributed to the aging population and an increase in healthcare access. Key trends during this period include substantial investments in research and development (R&D) activities for the creation of effective and innovative biosimilars, the production of biosimilars targeting neutropenia treatment to enhance revenues, and an intensified focus on mergers and acquisitions (M&A) as growth strategies.

The anticipated growth of the filgrastim biosimilar market is driven by the increasing prevalence of neutropenia. Neutropenia, a condition characterized by insufficient neutrophils, crucial white blood cells in infection defense, can be addressed with filgrastim biosimilars. These biosimilars stimulate neutrophil production in the bone marrow, elevating neutrophil counts and aiding in infection resistance. For example, data from August 2022, sourced from the National Center for Biotechnology Information, revealed neutropenia prevalence rates of 0.38% among Mexican-Americans, 0.79% among whites, and 4.5% among black participants. Consequently, the rising prevalence of neutropenia is a significant factor propelling the filgrastim biosimilar market's growth.

Government initiatives dedicated to biosimilar development are poised to contribute to the filgrastim biosimilar market's expansion in the coming years. Global governments are emphasizing biosimilar development due to its cost-effectiveness. Initiatives such as the US Food and Drug Administration's (FDA) Biosimilar Action Plan and Australia's commitment to the Biosimilar Awareness Initiative highlight a strategic focus on increasing treatment options and promoting biosimilar education. This support, including a $5 million grant from the Australian government to the Generic and Biosimilar Medicines Association, enhances awareness and activities related to biosimilar medicines' dispensing, prescription, and use. Thus, government initiatives play a pivotal role in fostering the growth of the filgrastim biosimilar market.

Prominent firms in the filgrastim biosimilar market are at the forefront of creating innovative products utilizing advanced technologies, such as recombinant DNA technology, to manufacture biosimilars. Recombinant DNA technology involves the creation of hybrid DNA by integrating a foreign sequence into an organism's DNA. For instance, in May 2023, Amneal Pharmaceuticals, a US-based pharmaceutical company, introduced FYLNETRA (pegfilgrastim-pbbk), a biosimilar to Amgen's NEULASTA in the United States. It is indicated for treating and preventing febrile neutropenia, facilitating neutrophil expansion, maturation, and enhanced viability and efficiency. FYLNETRA's launch aims to provide affordable medicines, expanding access for patients, providers, and payors.

Leading companies in the filgrastim biosimilar market continue to innovate with products such as Releuko (filgrastim-ayow) to better address patient needs. Releuko (filgrastim-ayow), referencing Neupogen (filgrastim), is designed for treating and preventing febrile neutropenia in cancer patients undergoing chemotherapy. In November 2022, Amneal Pharmaceuticals and Kashiv Biosciences, both US-based companies, jointly launched Releuko (filgrastim-ayow) in the US market. Contraindications include patients with a history of serious allergic reactions to human granulocyte colony-stimulating factors. This approval marks Amneal's debut in the biosimilar realm, with more decisions anticipated by year-end.

In March 2022, Biocon Biologics, an India-based fully integrated biopharmaceutical company, completed the acquisition of Viatris Inc. for $3.3 billion, creating a robust, globally integrated biosimilars enterprise. This strategic collaboration leverages the strengths and complementary expertise of both entities, positioning Biocon Biologics for a decade of value generation for stakeholders. Viatris Inc., a US-based pharmaceutical company, has developed a biosimilar of pegfilgrastim.

Major companies operating in the filgrastim biosimilars market report are Teva Pharmaceutical Industries Ltd., Novartis International AG, Biocon Limited, Intas Biopharmaceuticals, Dr. Reddy's Laboratories, Pfizer, Cadila Healthcare Ltd., Abbott Laboratories, Reliance Life Science Pvt. Ltd., Gennova Biopharmaceuticals (Emcure), Sandoz Pty Ltd., Apotex Pty Ltd., Mylan, Kyowa Kirin Co. Ltd., Lupin Limited, Biocon Biologics, Coherus Biosciences Inc., North China Pharmaceutical Corporation, Tonghua Dongbaoare, Beijing SL Pharmaceutical, Mochida Pharmaceutical, Fuji Pharma, Amgen (Europe) GmbH, Napp Pharmaceuticals, Adello Biologics, Apobiologix (Apotex), Hospira, Tanvex BioPharma, Eurofarma Laboratórios.

North America was the largest region in the filgrastim biosimilar markets market in 2023. The Middle East is expected to be the fastest growing region in the global filgrastim biosimilar markets market during 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, Africa. The countries covered in the filgrastim biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

There are two primary manufacturing types for the filgrastim biosimilar market in-house manufacturing and contract manufacturing organization (CMO). A contract manufacturing organization, also known as a contract development and manufacturing organization, is a company that offers comprehensive services to other pharmaceutical firms on a contractual basis, covering activities from drug discovery to drug production. The diverse applications of filgrastim biosimilars include oncology, chronic and autoimmune diseases, blood disorders, growth hormone deficiency, infectious diseases, and others. These products are distributed through various channels, including hospital pharmacies, retail pharmacies, and online pharmacies.

The filgrastim biosimilar markets market research report is one of a series of new reports that provides filgrastim biosimilar markets market statistics, including filgrastim biosimilar markets industry global market size, regional shares, competitors with a filgrastim biosimilar markets market share, detailed filgrastim biosimilar markets market segments, market trends and opportunities, and any further data you may need to thrive in the filgrastim biosimilar markets industry. This filgrastim biosimilar markets 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.

The filgrastim biosimilar markets consist 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.

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

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