The Global Filgrastim Market size is expected to reach $953. 4 million by 2027, rising at 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 generally utilized to cure low blood neutrophils.
New York, Dec. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "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 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.
COVID-19 Impact Analysis
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.
Market Growth Factors:
Increase in the aging population
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.
Growing cases of 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.
Market Restraining Factors:
Stringent government regulations and policies
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.
Drug Type Outlook
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.
Distribution Channel Outlook
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.
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.
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
Strategies Deployed in Filgrastim Market
Nov-2021: Apobiologix, a subsidiary of Apotex introduced Bambevi. This product is utilized in combination with chemotherapy to cure specific kinds of colorectal, brain, lung, and ovarian cancer. This launch would expand the Apobiologix portfolio to make sure constant support of patient requirements.
Jun-2021: Kyowa Kirin came into an agreement with Amgen, an American multinational biopharmaceutical company. This agreement aimed to develop and market KHK4083, Kyowa Kirin’s potential first-in-class, Phase 3-ready anti-OX40 fully human monoclonal antibody.
Jun-2020: Pfizer got the approval for NYVEPRIA, a biosimilar to Neulasta from the US Food and Drug Administration (FDA). This approval helps in enabling cost savings and provides better access to a crucial treatment option.
Nov-2019: Novartis unveiled Sandoz’s pegfilgrastim biosimilar, Ziextenzo, in the United States. Ziextenzo is used to decrease the duration of neutropenia and incidence of febrile neutropenia in adult patients cured with cytotoxic (anti-cancer) chemotherapy for malignancy with the exception of chronic myeloid leukemia and myelodysplastic syndromes.
Mar-2019: Apobiologix, a division of Apotex unveiled its pegfilgrastim biosimilar, Lapelga, in Canada. By availing Lapelga and Grastofil in Canada, patients can get better access to innovative, affordable, and effective biological drugs, along with providing substantial cost savings to the healthcare system.
Mar-2019: Pfizer received approval from the United States (U.S.) Food and Drug Administration (FDA) for TRAZIMERA, a biosimilar to Herceptin. This product is used in the treatment of human epidermal growth factor receptor-2 (HER2) overexpressing breast cancer and HER2 overexpressing metastatic gastric or gastroesophageal junction adenocarcinoma.
Aug-2018: Teva Pharmaceutical received approval from the U.S. FDA for Granix (tbo-filgrastim) Injection. This injection is used for a new vial presentation and indication in pediatric patients one month and older. In addition, this pediatric indication and vial presentation of Granix would expand the product line of treatment options, which could provide advantages for patients and healthcare providers.
Jul-2018: Dr. Reddy’s Laboratories released Hervycta, a biosimilar of Roche’s Herceptin, in India. This product is indicated for the treatment of HER2-positive cancers, which would benefit women in India who have HER2-positive breast cancer and are required access to affordable, high-quality and innovative medicines.
Jul-2018: Pfizer got approval from the US FDA for NIVESTYM, a biosimilar to Neupogen. This product is for all eligible indications of the reference product. The FDA approval helped the company to expand access to critical treatment options for patients with neutropenia.
Dec-2017: Teva Pharmaceutical Industries got approval from South Africa’s Medicines Control Council (MCC) for the country’s first non-originator biological, filgrastim. This filgrastim is recommended as an important treatment for chemotherapy-induced febrile neutropenia and peripheral blood stem cell harvesting in autologous stem cell harvesting in haematological malignancies.
May-2017: Dr. Reddy’s Laboratories entered into an agreement with GE Healthcare, a subsidiary of American multinational conglomerate General Electric. Under this agreement, Dr. Reddy’s Laboratories installed FlexFactory, a manufacturing platform by GE Healthcare, to expand biologics production capabilities at its facility in Hyderabad, India.
Scope of the Study
Market Segments covered in the Report:
By Drug Type
• Biosimilar and
• Chemotherapy induced Neutropenia
• Chronic Neutropenia and
• Other Indications
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies and
• Online Pharmacies
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• 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.
• Toksöz Group
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