Filgrastim Market to Witness Exponential Growth by 2026
Granulocyte colony stimulating factor is referred as stimulating factor 3, which acts to increase production of stem cells and granulocytes. Filgrastim is a granulocyte colony stimulating factor (G-CSF) prepared by recombinant DNA technology and often used in the treatment of low blood neutrophils. It is also frequently used in conditions where lukapheresis with increased white blood cells is observed. Common adverse effects of Filgrastim include joint pain, chest pain, hair loss, and vomiting. Filgrastim is a recombinant form of naturally occurring G-CSF and functions by stimulating neutrophil production. It was approved in the U.S. in 1991 for the treatment low blood neutrophils. The World Health Organization declared Filgrastim in the List of Essential Medicines as safe and most effective medicine. Filgrastim was first discovered by Amgen, Inc. and sold under the brand name Neupogen. Large number of biosimilar companies are engaged in the manufacture and marketing of Filgrastim across the world. Filgrastim costs around US$ 200 in the U.S, around GBP 50 in the U.K., and US$ 100 in developing countries.
Filgrastim is prescribed for neutropenia, which is caused due to bone marrow transplantation and chemotherapy. It has been considered a supportive therapy in various types of cancers. In the last decade, there has been significant increase in cancer prophylaxis in developed countries and awareness initiatives taken by governments to educate about early treatment. These factors are expected to fuel the growth of the global Filgrastim Market.
Approved biosimilars such as Grafeel, Colstim, Neukine, and Filcad, which are much cheaper and readily available in developing countries, are expected to fuel the growth of the global Filgrastim market. Ongoing biosimilars research and strong pipeline drugs are likely to boost the growth of the global market during the forecast period. Increase in the number of cancer patients, particularly in developing countries such as China and India, is one of the key factors likely to propel the global Filgrastim market during the forecast period. However, high cost of branded biologics and stringent regulatory guidelines for the approval of biosimilars in developed countries act as major restraints of the global market.
Request to View Brochure of Report -
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=45486
The global Filgrastim market can be segmented based on type, distribution channel, and region. In terms of type, the market can be bifurcated into biologics and biosimilars. The biologics segment is expected to be driven by high sales of established brand Neupogen. Availability of Neupogen in developing countries and higher cost restrain the biologics segment. The biosimilars segment is expected to expand at a higher growth rate due to low cost and easy availability in developing countries. Based on distribution channel, the global Filgrastim market can be categorized into hospital pharmacies, retail pharmacies, and online pharmacies. High demand for biologics in hospitals across the globe is projected to propel the hospital pharmacies segment from 2018 to 2026.
The global Filgrastim market can be segmented into five key regions: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to account for a major share of the global market owing to developed health care infrastructure and favorable reimbursement policies. Europe was the second largest market for Filgrastim in 2017. India, China, and Japan are the major markets for Filgrastim in Asia Pacific.
Request to View ToC of the report –
https://www.transparencymarketresearch.com/sample/sample.php?flag=T&rep_id=45486
The global Filgrastim market is fragmented, with presence of large number of companies with global reach. Major players in the global Filgrastim market include Amgen Inc., F. Hoffmann-La Roche Ltd., Dr. Reddy's Laboratories Ltd, Intas Pharmaceuticals, Cadila Pharmaceuticals, Lupin Limited, Emcure Pharmaceuticals Ltd., and Biocon.