Pegfilgrastim is a long-acting form of filgrastim that stimulates the bone marrow to produce more white blood cells. Pegfilgrastim biosimilars are follow-on biologics or subsequent entry biologics of pegfilgrastim. These biosimilars have no clinically meaningful differences in terms of safety, purity, and potency from the original version of pegfilgrastim, when administered at the same dose. Biosimilars provide a cost-effective alternative to innovative biologics and expand access to important medicines for patients. Global pegfilgrastim biosimilars growth is driven by increasing demand for affordable treatment options and the patent expiration of innovator drugs, thus, leading to market entry of multiple biosimilars.
Market Dynamics:
Global pegfilgrastim biosimilars market growth is driven rising prevalence of cancer cases globally. Growing awareness about biosimilar drugs and government thrust on increasing affordability of treatment have boosted adoption of pegfilgrastim biosimilars. Lower costs compared to reference biologics also drives the market growth. However, presence of stringent regulations for biosimilar approval can pose challenge for market players. Data exclusivity granted to reference drugs also delays market entry of biosimilars. Furthermore, complex production processes and the need for specialized expertise can hamper the market growth. Presence of strong pipeline with various biosimilar approvals and emerging markets can offer opportunities for market growth.
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