Market Analysis and Price Projections for Pegfilgrastim (NDC: 55513-0190)
Introduction to Pegfilgrastim
Pegfilgrastim, marketed under the brand name Neulasta, is a colony-stimulating factor used to stimulate the production of white blood cells in patients undergoing chemotherapy. It is a man-made version of a natural substance produced in the body and is administered via subcutaneous injection[1][4].
Market Overview
The global market for pegfilgrastim, including both the original drug and its biosimilars, has been experiencing significant growth. Here are some key points regarding the market:
Current Market Size
As of 2020, the global pegfilgrastim biosimilars market was valued at approximately $902.1 million. This market is expected to grow substantially, driven by the increasing prevalence of cancer and the adoption of biosimilars[3].
Growth Projections
The market is projected to grow from $902.1 million in 2020 to $1,801.0 million by 2025, at a compound annual growth rate (CAGR) of 14.8%. Further, the market is expected to reach $4,037.1 million by 2030, with a CAGR of 17.5% from 2025 to 2030[3].
Key Segments
The top opportunities in the pegfilgrastim biosimilars market are expected to arise in the chemotherapy-induced neutropenia segment, which is forecasted to gain $701.0 million in global annual sales by 2025. Hospital pharmacies are also a significant distribution channel, expected to contribute $612.3 million to global annual sales by 2025[3].
Pricing and Billing
NDC and Billing Information
The NDC code 55513-0190-01 is assigned to a package of 1 syringe containing 0.6 mL of pegfilgrastim (6 mg). This product is billed per milliliter, and the 11-digit billing format for this NDC is 55513019001[1][5].
HCPCS Coding
Effective January 1, 2022, the HCPCS code for pegfilgrastim (excluding biosimilars) changed from J2505 to J2506, which corresponds to "injection, pegfilgrastim, excludes biosimilar, 0.5 mg"[5].
Market Trends and Strategies
Regulatory Environment
The market for pegfilgrastim biosimilars benefits from less stringent regulations compared to original biologics. This environment encourages the development of new and improved biosimilars[3].
Research and Development
Companies are investing extensively in research and development to create effective and innovative biologics. This includes focusing on strategic partnerships with large players to expand research and development activities[3].
M&A and Growth Strategies
Market players are adopting merger and acquisition strategies to expand their customer base and geographic markets. There is also a significant focus on producing biosimilars for neutropenia treatment to improve revenues and product offerings[3].
Regional Market Analysis
United States
The USA is expected to be a major contributor to the growth of the pegfilgrastim biosimilars market, with projected sales of $426.9 million by 2025. This is driven by the high prevalence of cancer and the well-established healthcare infrastructure in the region[3].
Competitive Landscape
Original Drug vs. Biosimilars
The market for pegfilgrastim is dominated by the original drug Neulasta, but biosimilars are gaining traction due to their cost-effectiveness and similar efficacy. This competition is expected to drive down prices and increase market accessibility[3].
Price Projections
Given the growing demand and the increasing competition from biosimilars, the prices of pegfilgrastim are likely to stabilize or decrease slightly. Here are some key points:
Current Pricing
As of the latest data, the wholesale price for Neulasta (pegfilgrastim) can vary, but it is generally billed per milliliter. The exact pricing can depend on various factors including the payer, the healthcare setting, and the specific billing codes used[1].
Future Pricing Trends
With the projected growth in the biosimilars market, prices are expected to be influenced by the increasing competition. Biosimilars typically offer a cost advantage over the original biologic, which could lead to a reduction in the overall market price for pegfilgrastim treatments[3].
Conclusion
The market for pegfilgrastim, particularly its biosimilars, is poised for significant growth driven by the increasing prevalence of cancer and the adoption of cost-effective biosimilar options. The pricing for these treatments is expected to be influenced by competition, regulatory environments, and market strategies.
Key Takeaways
- The global pegfilgrastim biosimilars market is expected to grow from $902.1 million in 2020 to $1,801.0 million by 2025.
- The market is projected to reach $4,037.1 million by 2030.
- Hospital pharmacies and chemotherapy-induced neutropenia segments are key areas of growth.
- Pricing is expected to be influenced by competition from biosimilars.
- The USA is a significant market for pegfilgrastim biosimilars.
FAQs
What is the NDC code for Neulasta (pegfilgrastim)?
The NDC code for Neulasta (pegfilgrastim) is 55513-0190-01[1][5].
How is Neulasta (pegfilgrastim) administered?
Neulasta (pegfilgrastim) is administered via subcutaneous injection[1][4].
What is the projected growth rate of the pegfilgrastim biosimilars market?
The market is expected to grow at a CAGR of 14.8% from 2020 to 2025 and 17.5% from 2025 to 2030[3].
Which segment is expected to contribute the most to the pegfilgrastim biosimilars market?
The chemotherapy-induced neutropenia segment is expected to contribute significantly, gaining $701.0 million in global annual sales by 2025[3].
How does the pricing of Neulasta (pegfilgrastim) compare to its biosimilars?
Biosimilars typically offer a cost advantage over the original biologic, which could lead to a reduction in the overall market price for pegfilgrastim treatments[3].
Sources
- NDC Package 55513-190-01 Neulasta Injection Subcutaneous - NDC List.
- Amgen Notice Regarding Prolia NDCs - HRSA.
- Global $4,037 Million Pegfilgrastim Biosimilars Markets - GlobeNewswire.
- NEULASTA- pegfilgrastim kit - DailyMed.
- PHYSICIAN OFFICE CODING AND BILLING INFORMATION SHEET - Neulasta HCP.
