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2021

Filgrastim Market

Filgrastim Market Size, Share, Competitive Landscape and Trend Analysis Report, by Drug Type, Indication and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2030

LS : Pharmaceuticals

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Author's: Smita Nerkar | Roshan Deshmukh
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Filgrastim Market Statistics- 2030

Global filgrastim market was valued at $ 562.50 million in 2020 and is projected to reach $745.90 million by 2030 registering a CAGR of 2.80% from 2021 to 2030. Filgrastim is a recombinant DNA-derived granulocyte colony stimulating factor (G-CSF) that is commonly used to treat low blood neutrophils. It's also commonly employed in cases where lukapheresis is associated with an increase in white blood cells. Filgrastim has a number of side effects, including joint discomfort, chest pain, hair loss, and vomiting. 

Filgrastim is a recombinant version of the naturally occurring G-CSF that stimulates neutrophil production. It was licensed for the treatment of low blood neutrophils in the U.S. in 1991. The World Health Organization (WHO) 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 $200 in the U.S, around 50 Euro in the UK, and $100 in developing countries.

Filgrastim-Market-2021-2030

Factors such as increase in prevalence of various diseases and surge igeriatric population drives the filgrastim market growth. Furthermore, increase in pressure to decrease healthcare expenditure and surge in demand for filgrastim, due to its cost effectiveness is anticipated to boost the growth of this market. In addition, surge in demand for biosimilars in the treatment of neutropenia further impede the market growth. However, common adverse effects of filgrastim include joint pain, chest pain, hair loss, and vomiting hinder the market growth. Conversely, increase in investing extensively in R&D activities for the development of effective and innovative biosimilars will further provide opportunities for the market.

Moreover, this medication is used to treat neutropenia, a condition that occurs after bone marrow transplantation and chemotherapy. It's been used to treat a variety of malignancies as a supportive therapy. In the recent decade, there has been a major growth in cancer prevention in industrialized countries, as well as government-led campaigns to raise awareness of early treatment. These reasons are projected to propel the worldwide Filgrastim market forward. 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.

The outbreak of COVID-19 has disrupted workflows in the healthcare sector across the globe. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of healthcare. The filgrastim market size is expected to be negatively impacted by the COVID-19 situation. With the majority of countries suffering from the impact of COVID-19, many countries are looking for a way to cure COVID-19. The pandemic has had a serious and disruptive effect on oncology clinical trials and treatment, with both immediate and delayed consequences. According to a study conducted by the Cancer Research UK in July 2020, one in three cancer patients have confirmed that their treatment has been impacted by the effects of COVID-19. The short-term effects include staff and resources being reassigned to deal with COVID patients. In the longer term, trials testing treatments for COVID-19 have been ordered. A sharp reduction in recruitment to ongoing trials and a delay in the planned launch of new oncology studies is expected to negatively impact the filgrastim market.

Filgrastim Market Segmentation  

The global filgrastim market is segmented on the basis of drug type, distribution channel, indication and region. On the basis of drug type, it is further classified into biologic and biosimilar. By distribution channel, it is divided into hospital pharmacies, retail pharmacies and online pharmacies. Based on indication, it is categorized into chemotherapy induced neutropenia, chronic neutropenia and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Filgrastim Market
By Drug Type
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Biosimilar segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

Segment Review

By drug type, the biosimilars segment is expected to expand at a higher growth rate due to low cost and easy availability in developing countries. Furthermore, ongoing biosimilars research and strong pipeline drugs are expected to boost the growth of the global market during the forecast period.

Based on distribution channel, the global filgrastim market can be categorized into hospital pharmacies, retail pharmacies, and online pharmacies. High demand for filgrastim in hospitals across the globe is projected to propel the hospital pharmacies segment from 2020 to 2030.

Filgrastim Market
By Indication
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Reusable segment is projected as one of the most lucrative segment.

Snapshot of the North America Filgrastim Market  

Europe is projected to account for a major share of the global filgrastim market during the forecast period. The market in the region is anticipated to grow in the future, owing to developed health care infrastructure and favorable reimbursement policies, rise in prevalence of infectious diseases and cancer, and the availability of research grants and funding are propelling the market growth in Europe.

The key market players profiled in the report include Abbott Laboratories, Amgen, Apotex, Cadila Pharmaceuticals, Dr. Reddy's Laboratories, Kirin Holding (Kyowa Kirin), Novartis, Pfizer, Teva Pharmaceutical Industries Ltd. and Toksöz Group (Arven).

Filgrastim Market
By Region
2030
Europe 
North America
Asia-Pacific
LAMEA

North America is expected to experience growth at the highest rate, registering a CAGR of 3.20% during the forecast period.

Filgrastim Market Research Study Key Benefits

  • The study provides an in-depth analysis of the global filgrastim market along with the current trends and future estimations to explain the imminent investment pockets.
  • A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
  • Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the key segments of the industry helps to understand the application and products of filgrastim used across the globe.
  • Key market players and their strategies have been analyzed to understand the competitive outlook of the market.

Key Market Segments

By Drug Type

  • Biologic
  • Biosimilar

By Distribution Channel

  • Hospital pharmacies
  • Retail pharmacies
  • Online pharmacies

By Indication

  • Chemotherapy induced Neutropenia
  • Chronic Neutropenia
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China 
    • Australia
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Leading Players of Filgrastim Market

  • Abbott Laboratories 
  • Amgen 
  • Apotex 
  • Cadila Pharmaceuticals
  • Dr. Reddy's Laboratories
  • Kirin Holding (Kyowa Kirin)
  • Novartis
  • Pfizer
  • Teva Pharmaceutical Industries Ltd.
  • Toksöz Group

Filgrastim Market Report Highlights

Aspects Details
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By DRUG TYPE
  • Biologic
  • Biosimilar
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By DISTRIBUTION CHANNEL
  • Hospital pharmacies
  • Retail pharmacies
  • Online pharmacies
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By INDICATION
  • Chemotherapy induced Netropenia
  • Chronic neutropenia
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

ABBOTT LABORATORIES, TOKSÖZ GROUP., DR. REDDY’S LABORATORIES LIMITED, PFIZER INC., KIRIN HOLDINGS, APOTEX INC., TEVA PHARMACEUTICAL INDUSTRIES LTD., ZYDUS CADILLA, NOVARTIS AG, AMGEN INC.

Analyst Review

Filgrastim market growth includes increase in pressure to decrease healthcare expenditure and surge in demand for filgrastim due to its cost effectiveness is anticipated to boost the growth of this market. In addition, surge in demand for biosimilars in the treatment of neutropenia further impede the market growth. However, common adverse effects of filgrastim include joint pain, chest pain, hair loss, and vomiting hinder the market growth. On the other hand, increase in investing extensively in R&D activities for the development of effective and innovative biosimilars will further provide opportunities for the market.

Europe is projected to account for a major share of the global filgrastim market during the forecast period. The market in the region is anticipated to witness growth in the future, owing to developed healthcare infrastructure and favorable reimbursement policies, rise in prevalence of infectious diseases and cancer, and the availability of research grants and funding are propelling the market growth in Europe. Furthermore, increase in number of cancer patients, particularly in developing countries such as China and India, is one of the key factors expected to propel the global filgrastim market during the forecast period.

Author Name(s) : Smita Nerkar | Roshan Deshmukh
Frequently Asked Questions?

The total market value of Filgrastim market is $562.5 million in 2020.

The forcast period for Filgrastim market is 2021 to 2030

The market value of Filgrastim market in 2021 is $582.2 million.

The base year is 2020 in Filgrastim market

Top companies such asAbbott Laboratories, Amgen, Apotex, Cadila Pharmaceuticals, Dr. Reddy's Laboratories, Kirin Holding (Kyowa Kirin), Novartis, Pfizer, Teva Pharmaceutical Industries Ltd and Toksöz Group (Arven) held a high market position in 2020.

Biosimilars segment is expected to expand at a higher growth rate due to low cost and easy availability in developing countries. Furthermore, ongoing biosimilars research and strong pipeline drugs are likely expected to boost the growth of the global market during the forecast period.

Increase in prevalence of various diseases and surge in geriatric population drives the filgrastim market growth. Furthermore, increase in pressure to decrease healthcare expenditure and surge in demand for filgrastim, due to its cost effectiveness is anticipated to boost the growth of this market

Europe is projected to account for a major share of the global filgrastim market during the forecast period. The market in the region is anticipated to grow in the future, owing to developed health care infrastructure and favorable reimbursement policies, rise in prevalence of infectious diseases and cancer, and the availability of research grants and funding are propelling the market growth in North America.

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Filgrastim Market

Global Opportunity Analysis and Industry Forecast, 2021-2030