DUBLIN, January 18, 2022--(BUSINESS WIRE)--The "Global Filgrastim Market By Drug Type, By Indication, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
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.
Key Market Players:
Dr. Reddy's Laboratories Ltd.
Teva Pharmaceutical Industries Ltd.
Kyowa Kirin Co., Ltd. (Kirin Company)
Cadila Healthcare Ltd. (Zydus Cadila)
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.
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 is expected to 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 is expected to 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.
Marketing Restraining Factor:
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.
Key Topics Covered:
Chapter 1. Market Scope & 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 Restraints
Chapter 3. Global Filgrastim Market by Drug Type
3.1 Global Biosimilar Market by Region
3.2 Global Biologic 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 Pharmacies Market by Region
5.2 Global Retail Pharmacies Market by Region
5.3 Global Online Pharmacies Market by Region
Chapter 6. Global Filgrastim Market by Region
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/x6jx9i
View source version on businesswire.com: https://www.businesswire.com/news/home/20220118005816/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900