Transparency Market Research in its new report titled, “Filgrastim Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the filgrastim market. The TMR report anticipates that the rise in the ongoing biosimilar research and strong pipeline drugs will drive the filgrastim market during the forecast period i.e, 2018-2026. 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, says the report.
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.
The TMR report has segmented the global filgrastim market based on type, distribution channel, and region. Based on type, the market is split 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 report has segregated the global filgrastim market on a geographical stand into five key regions: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Among these, North America is expected dominate the global market owing to developed health care infrastructure and favorable reimbursement policies. As per the report, Europe was the second largest market for filgrastim in 2017. India, China, and Japan are the major markets for filgrastim in Asia Pacific.
The global filgrastim market is fragmented, with presence of large number of companies with global reach. Leading companies operating in the global filgrastim market are profiled in this report to give a better competitive analysis and these include Amgen Inc., F. Hoffmann-La Roche Ltd., Dr. Reddy’s Laboratories Ltd, Intas Pharmaceuticals, Cadila Pharmaceuticals, Lupin Limited, Emcure Pharmaceuticals Ltd., and Biocon.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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