The global filgrastim market size is expected to reach $ 953. 4 million by 2027, increasing to a market growth of 8.0% CAGR during the forecast period. Filgrastim refers to the recombinant DNA-derived granulocyte colony stimulating factor (G-CSF), which is typically used to cure weak blood neutrophils.
New York, December 27, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of the “Global Filgrastim Market By Drug Type, By Indication, By Distribution Channel, By Regional Outlook, Industry Analysis Report and forecast, 2021 – 2027 “- https://www.reportlinker.com/p06193308/?utm_source=GNW
It is especially used in cases where lukapheresis is linked to the increase in white blood cells. In addition, there are some side effects from using filgrastim, including chest pain, hair loss, joint discomfort, and vomiting.
Filgrastim injections are used in the healing process of neutropenia which is a condition of having low white blood cell count which can be caused by anti-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 assessment
The COVID-19 pandemic has had a huge impact on the workflow of the healthcare sector around the world. The disruption of the supply chain of various products and the temporary ban on manufacturing units have had a negative impact on the filgrastim market. The pandemic has increased pressure on the world’s health systems. More staff and resources have been reallocated to treat COVID patients who previously cared for patients with different illnesses. A decline in recruitment for trials and an impediment to the planned publication of the latest oncology studies would affect the filgrastim market. Some biosimilar developers have also entered the development phase of non-biosimilar products to find a treatment for the SAR-VOC-2 virus. Some filgrastim biosimilars are also used to treat patients with COVID-19.
Market growth factors:
Increase in the aging population
There is an increase in the geriatric population in various countries of the world, which would fuel the demand for biopharmaceuticals like filgrastim biosimilars to cure 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 illnesses.
Growing cases of chronic disease
Chronic disease refers to a group of diseases 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 sedentary lifestyle, unhealthy diet and tobacco consumption are responsible for chronic diseases. Cancer is one of the leading causes of death worldwide, causing around 10 million deaths in 2020. Of the total number of cancer deaths, approx. 70% of deaths were reported in low- and middle-income countries.
Market restriction factors:
Strict government regulations and policies
Pharmaceutical companies that develop biosimilars like filgrastim face a major challenge in the approval process of their products. Different countries have 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.
Drug type Prospects
Based on drug type, the market is segmented into biosimilars and biologics. Among the two, the biosimilars segment is expected to show a promising CAGR due to its easy availability and low cost in emerging countries.
On the basis of 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 outlook
By distribution channel, the filgrastim market is divided into retail pharmacies, hospital pharmacies and online pharmacies. Among all, the hospital pharmacy market is expected to experience substantial growth during the forecast period owing to the increasing demand for filgrastim in hospitals all over the world.
By region, the filgrastim market is analyzed North America, Europe, Asia-Pacific, and LAMEA. North America has emerged as the leading region in the filgrastim market in 2020 with the highest market share and is expected to maintain its dominance during the forecast period. This is due to the developed health care infrastructure, the increasing prevalence of infectious diseases, favorable reimbursement policies, and the accessibility of grants and research funding.
The market research report covers the analysis of the major players in the market. Major companies featured 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 Toksöz Group
Strategies deployed on the Filgrastim market
Nov-2021: Apobiologix, a subsidiary of Apotex, introduces Bambevi. This product is used in conjunction with chemotherapy to treat specific types of colorectal, brain, lung and ovarian cancer. This launch would expand the Apobiologix portfolio to ensure constant support for patient needs.
June-2021: Kyowa Kirin has reached an agreement with Amgen, an American multinational biopharmaceutical company. This agreement aimed to develop and commercialize KHK4083, Kyowa Kirin’s first fully human monoclonal antibody, ready for phase 3, anti-OX40.
June 2020: Pfizer obtained approval of NYVEPRIA, a biosimilar of Neulasta, from the United States Food and Drug Administration (FDA). This approval saves money and provides better access to a critical treatment option.
Nov-2019: Novartis has unveiled Sandoz’s biosimilar pegfilgrastim, Ziextenzo, in the United States. Ziextenzo is used for decreasing the duration of neutropenia and the incidence of febrile neutropenia in adult patients who are cured with cytotoxic (anti-cancer) chemotherapy of malignancies, except chronic myelogenous leukemia and myelodysplastic syndromes.
March 2019: Apobiologix, a division of Apotex, unveiled its pegfilgrastim biosimilar, Lapelga, in Canada. By using Lapelga and Grastofil in Canada, patients can gain better access to innovative, affordable and effective biologic drugs, while delivering substantial savings to the healthcare system.
March 2019: Pfizer received United States Food and Drug Administration (FDA) approval for TRAZIMERA, a biosimilar to Herceptin. This product is used in the treatment of breast cancer overexpressing human epidermal growth factor receptor 2 (HER2) and metastatic adenocarcinoma of the gastric or gastroesophageal junction overexpressing HER2.
August 2018: Teva Pharmaceutical received US FDA approval for Granix (tbo-filgrastim) Injection. This injection is used for a new vial presentation and a new indication in pediatric patients one month and older. Additionally, this pediatric indication and vial presentation of Granix would expand the product line of treatment options, which could provide benefits to patients and healthcare providers.
Jul-2018: Dr Reddy’s labs launched Hervycta, a Herceptin biosimilar from Roche, in India. This product is indicated for the treatment of HER2-positive cancers, which would benefit Indian women with HER2-positive breast cancer who need access to affordable, high-quality and innovative drugs.
Jul-2018: Pfizer obtained US FDA approval for NIVESTYM, a biosimilar to Neupogen. This product is for all eligible indications of the reference product. The FDA approval has helped the company expand access to essential treatment options for patients with neutropenia.
Dec-2017: Teva Pharmaceutical Industries obtained South Africa’s Medicines Control Council (MCC) approval for the country’s first non-native biologic, filgrastim. This filgrastim is recommended as an important treatment for febrile neutropenia induced by chemotherapy and peripheral blood stem cell harvesting in autologous stem cell harvest in hematologic malignancies.
May-2017: Dr. Reddy’s Laboratories entered into an agreement with GE Healthcare, a subsidiary of the US multinational conglomerate General Electric. As part of the agreement, Dr. Reddy’s Laboratories installed FlexFactory, a manufacturing platform from GE Healthcare, to expand production capabilities for biologics at its plant in Hyderabad, India.
Scope of the study
Market segments covered in the report:
By type of drug
• Biosimilar and
• Chemotherapy-induced neutropenia
• Chronic neutropenia and
• Other indications
By distribution channel
• Hospital pharmacies
• Retail pharmacies and
• Online pharmacies
• North America
o United States
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia-Pacific
o United Arab Emirates
o Saudi Arabia
o Rest of LAMEA
• Abbott Laboratories
• Amgen, Inc.
• Pfizer, Inc.
• Novartis SA
• Dr Reddy’s Laboratories Ltd.
• Teva Pharmaceutical Industries Ltd.
• Kyowa Kirin Co., Ltd. (Kirin Company)
• Cadila Healthcare Ltd. (Zydus Cadila)
• Apotex, Inc.
• Toksöz Group
• Comprehensive coverage
• The largest number of tables and figures on the market
• Subscription-based model available
• Best price guaranteed
• After-sales research support guaranteed with 10% free customization
Read the full report: https://www.reportlinker.com/p06193308/?utm_source=GNW
ReportLinker is an award winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001