DUBLIN, January 18, 2022 /PRNewswire/ — The “Global Filgrastim Market by Drug Type, By Indication, By Distribution Channel, By Regional Perspective, Industry Analysis Report and Forecast, 2021 – 2027” report has been added to from ResearchAndMarkets.com offer.
The global filgrastim market size is expected to reach $953.4 million by 2027, with a market growth of 8% CAGR during the forecast period.
Filgrastim refers to recombinant DNA-derived granulocyte-colony stimulating factor (G-CSF), which is generally used to cure weak blood neutrophils. It is particularly used in cases where lukapheresis is linked to an increase in white blood cells. Also, the use of filgrastim has some side effects including chest pain, hair loss, joint pain and vomiting.
Filgrastim injections are used in the healing process for neutropenia, which is a condition of low white blood cell count that can be caused by cancer drugs. This injection is an artificial form of a substance, which is naturally created in a person’s body, called colony stimulating factor. In addition, filgrastim helps the bone marrow to develop new white blood cells.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on healthcare industry workflow around the world. Disruption in the supply chain of various commodities and temporary banning of manufacturing units have negatively impacted the filgrastim market. The pandemic has increased the pressure on health systems around the world. More staff and resources have been reallocated to treat COVID patients who previously cared for patients with a different disease.
Decline in trial recruitment and hamper in expected publication of latest oncology studies are expected to affect the filgrastim market. Some biosimilar developers have also entered the development-stage non-biosimilar market to find a treatment for the SAR-COV-2 virus. Some filgrastim biosimilars are also used to treat patients infected with COVID-19.
Market Growth Factors:
Increase in aging population
There is an increase in the geriatric population in various countries around the world, which is expected to fuel the demand for biopharmaceuticals like filgrastim biosimilars to cure the side effects caused by the treatment of many chronic diseases like cancer. People over the age of 65 have increased worldwide, and age-related chronic diseases have also increased. These older people are more vulnerable to chronic diseases.
Increasing cases of chronic diseases
Chronic diseases refer to a group of illnesses including cardiovascular disease, diabetes, cancer and others. There is an increase in the number of chronic diseases among the population across the world. Factors such as a sedentary lifestyle, poor diet and tobacco consumption are responsible for chronic diseases. Cancer is one of the leading causes of death in the world and caused about 10 million deaths in 2020. Among the total number of cancer deaths, approx. 70% of deaths were reported in low- and middle-income countries.
Marketing Restriction Factor:
Strict government regulations and policies
Pharmaceutical companies developing biosimilars like filgrastim face a major challenge in the approval process for their products. Different countries have a different approval process for any drug, treatment, vaccine, and medical device; however, these approval procedures are difficult to follow. This is due to the various regulations and evidence required to prove the efficacy and safety of this product.
Prospects of drug types
On the basis of drug type, the market is segmented into biosimilar and biologic. Among the two, the biosimilars segment is estimated to show a promising CAGR owing to easy availability and low cost in emerging countries.
Based on indication, the market is segmented into Chemotherapy Induced Neutropenia, Chronic Neutropenia, and Other Indications. Among these, the chemotherapy-induced neutropenia segment acquired the highest share of the filgrastim market in 2020 and is expected to continue to dominate during the forecast period.
Distribution Channel Insights
By distribution channel, the filgrastim market is divided between community pharmacies, hospital pharmacies and online pharmacies. Among all, the hospital pharmacy market is expected to witness substantial growth over the forecast period owing to the growing demand for filgrastim in hospitals across the globe.
Regionally, the filgrastim market is analyzed through North America, Europe, Asia Pacific, and LAMEA. North America has emerged as the top filgrastim market region in 2020 with the highest market share and is expected to maintain its dominance during the forecast period. This is due to the developed healthcare infrastructure, increasing prevalence of infectious diseases, favorable reimbursement policies, and accessibility of grants and research funding.
The market research report covers the analysis of major market players. Key companies profiled in the report include Abbott Laboratories, Amgen, Inc., Pfizer, Inc., Novartis AG, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Kyowa Kirin Co., Ltd. (Kirin Company), Cadila Healthcare Ltd. (Zydus Cadila), Apotex, Inc. and the Toksoz Group
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 2. Market Overview
126.96.36.199 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market constraints
Chapter 3. Global Filgrastim Market by Drug Type
3.1 Global Biosimilars Market by Region
3.2 Global Organic Market by Region
Chapter 4. Global Filgrastim Market by Indication
4.1 Global Chemotherapy Induced Neutropenia Market by Region
4.2 Global Chronic Neutropenia Market by Region
4.3 Global Other Indications Market by Region
Chapter 5. Global Filgrastim Market by Distribution Channel
5.1 Global Hospital Pharmacy Market by Region
5.2 Global Retail Pharmacy Market by Region
5.3 Global Online Pharmacy Market by Region
Chapter 6. Global Filgrastim Market by Region
Chapter 7. Business Profiles
7.1 Abbott Laboratories
7.1.1 Presentation of the company
7.1.2 Financial analysis
7.1.3 Sectoral and regional analysis
7.1.4 Research and development costs
7.2 Amgen, Inc.
7.2.1 Presentation of the company
7.2.2 Financial analysis
7.2.3 Regional Analysis
7.2.4 Research & Development expenses
7.3 Pfizer, Inc.
7.3.1 Presentation of the company
7.3.2 Financial analysis
7.3.3 Regional Analysis
7.3.4 Research and development costs
7.3.5 Strategies and recent developments:
188.8.131.52 Approvals and tests:
7.4 Novartis AG
7.4.1 Company Overview
7.4.2 Financial analysis
7.4.3 Sectoral and regional analysis
7.4.4 Research and development costs
7.4.5 Strategies and recent developments:
184.108.40.206 Product launches and product extensions:
7.5 Dr. Reddy’s Laboratories Ltd.
7.5.1 Presentation of the company
7.5.2 Financial analysis
7.5.3 Sectoral and regional analysis
7.5.4 Research and development costs
7.5.5 Strategies and recent developments:
220.127.116.11 Partnerships, collaborations and agreements:
18.104.22.168 Product launches and product extensions:
7.6 Teva Pharmaceutical Industries Ltd.
7.6.1 Company Overview
7.6.2 Financial analysis
7.6.3 Regional Analysis
7.6.4 Research and development costs
7.6.5 Strategies and recent developments:
22.214.171.124 Approvals and tests:
7.7 Kyowa Kirin Co., Ltd. (Kirin Company)
7.7.1 Company overview
7.7.2 Financial analysis
7.7.3 Regional Analysis
7.7.4 Research and development costs
7.7.5 Strategies and recent developments:
126.96.36.199 Partnerships, collaborations and agreements:
7.8 Cadila Healthcare Ltd. (Zydus Cadila)
7.8.1 Company overview
7.8.2 Financial analysis
7.8.3 Sectoral and regional analysis
7.8.4 Research and development costs
7.9 Apotex, Inc.
7.9.1 Company overview
7.9.2 Strategies and recent developments:
188.8.131.52 Product launches and product extensions:
7.10 Toksoz Group
7.10.1 Company overview
For more information on this report, visit https://www.researchandmarkets.com/r/yrwb5p
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