The Global Filgrastim Market size is expected to reach $953.4 million by 2027, rising at a market growth of 8% CAGR during the forecast period.
Filgrastim refers to the recombinant DNA-derived granulocyte colony-stimulating factor (G-CSF), which is generally utilized to cure low blood neutrophils. It is especially used in cases wherein lukapheresis is linked with rising white blood cells. In addition, there are some side effects of using filgrastim that include chest pain, hair loss, joint discomfort, and vomiting.
Filgrastim injections are utilized in the process of curing neutropenia which is a condition of having low white blood cells that can be caused by cancer medicines. This injection is a man-made form of a substance, which is naturally created in a person’s body called a colony-stimulating factor. In addition, filgrastim assists the bone marrow to develop new white blood cells.
The COVID-19 pandemic has significantly impacted the workflow of the healthcare industry around the world. The disruption in the supply chain of various goods and the temporary ban on manufacturing units had a negative impact on the filgrastim market. The pandemic has increased the pressure on healthcare systems of the world. More staff and resources were reassigned to treat COVID patients who were earlier taking care of patients with a different disease.
A decline in recruitment to the trials and obstruct in the planned release of the latest oncology studies would affect the filgrastim market. There are certain biosimilar developers who have also entered the market of non-biosimilar products for the development stage to find a treatment for the SAR-COV-2 virus. There are certain filgrastim biosimilars that are also utilized to cure COVID-19 infected patients.
There is an increase in the geriatric population across various nations of the world, which would fuel the demand for biopharmaceuticals like filgrastim biosimilars to cure the side effects caused by the treatment of numerous chronic diseases like cancer. People with the age of 65 years have surged around the world along with that age-related chronic ailments have also increased. These aged people are more vulnerable to chronic diseases.
Chronic disease refers to a group of diseases including cardiovascular diseases, diabetes, cancer, and others. There is a rise in the number of chronic diseases among the population across the globe. Factors such as sedentary lifestyle, unhealthy diet, and consumption of tobacco are responsible for chronic diseases. Cancer is one of the top reasons behind death across the world which caused approximately 10 million deaths in 2020. Among the total number of deaths due to cancer, approx. 70% of deaths were reported in low- and middle-income countries.
Pharmaceutical companies that are developing biosimilars like filgrastim face a major challenge in the approval process of their products. Different countries have a different process of approval for any medicine, treatment, vaccine, and medical device; however, these approval procedures are difficult to follow. It is due to the various regulations and evidence required to prove the efficacy and safety of that product.
Based on Drug Type, the market is segmented into Biosimilar and Biologic. Among both, the biosimilars segment is estimated to display a promising CAGR owing to the easy availability and low cost in emerging nations.
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 in the filgrastim market in 2020 and is anticipated to continue its dominance over the forecast period.
By distribution channel, the filgrastim market is divided into retail pharmacies, hospital pharmacies, and online pharmacies. Among all, the hospital pharmacies market is anticipated to witness a substantial growth during the forecast period owing to the increasing demand for filgrastim in hospitals around the world.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 521.1 Million |
| Market size forecast in 2027 | USD 953.4 million |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 8% from 2021 to 2027 |
| Number of Pages | 193 |
| Number of Tables | 340 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Drug Type, Indication, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the filgrastim market is analyzed across North America, Europe, Asia Pacific, and LAMEA. North America emerged as the leading region in the filgrastim market in 2020 with the highest market share and is estimated to maintain its dominance during the forecast period. It is owing to the developed healthcare infrastructure, growing prevalence of infectious diseases, supportive reimbursement policies, and accessibility of research grants & funding.
Free Valuable Insights: Global Filgrastim Market size to reach USD 953.4 million by 2027
The market research report covers the analysis of key stake holders of the market. 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 Toksöz Group
By Drug Type
By Indication
By Distribution Channel
By Geography
The global filgrastim market size is expected to reach $953.4 million by 2027.
Increase in the aging population are driving the market in coming years, however, Stringent government regulations and policies limited the growth of the market.
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
The chemotherapy-induced neutropenia segment is projected to display the highest growth rate during the forecast period.
The Asia Pacific is anticipated to display the fastest growth rate over the forecast period. This growth is attributed to the rise in the number of cancer patients, particularly in emerging nations like China and India.
The North America market dominated the Global Filgrastim Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $369.6 million by 2027.
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