How is the Neulasta Market Poised for Growth: Trends and Opportunities Through 2034
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How has the neulasta market grown over the years?
In recent years, the market size of Neulasta has witnessed an (HCAGR) of XX. It’s anticipated to rise from $XX million in 2024 to $XX million in 2025, representing a compound annual growth rate (CAGR) of XX%. Factors contributing to the growth during the historic period include the increasing occurrence of chemotherapy-induced neutropenia, amplified cancer incidences worldwide, heightened awareness of the risks neutropenia poses during cancer therapy, availability of government funding for biologics, and the early adoption of biologics in developed areas.
What Is the forecasted market size and growth rate for the neulasta market?
The prediction of the future size of the neulasta market indicates a forecasted compound annual growth rate (FCAGR) of XX%, and it’s expected to expand to $XX million by 2029. The potential growth during the projected period is linked to the increasing presence of biosimilars in developing economies, an escalating demand for affordable cancer-supportive care, an amplified global healthcare expenditure, more approvals for biosimilars by regulatory bodies, and heightened patient cognizance concerning biosimilar alternatives. Notable trends for the forecasted timeline encompass the progression of prefilled syringes for simplified administration, advancements in drug delivery techniques such as on-body injectors, the incorporation of digital platforms for patient learning, the application of AI in the Research and Development and supply chain fortification of biologics, and the strategic collaboration between biologics and biosimilar companies.
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What are the major factors driving growth in the neulasta market?
The increase in cancer cases is spurring the expansion of the neulasta market. Cancer constitutes a set of illnesses marked by abnormal cell proliferation that has the potential to metastasize to different parts of the body. Aging populations, unhealthy habits, and environmental determinants are among the factors contributing to a higher prevalence of this disease. Biosimilars like neulasta, which are essential for cancer patients undergoing chemotherapy, play a crucial role in mitigating the effects of chemotherapy-induced neutropenia by increasing white cell count and lowering infection risks. For instance, the Australian Institute of Health and Welfare stated in August 2024 that by 2034, Australia is forecasted to see around 209,000 new cancer incidents, marking a substantial rise from the anticipated 169,000 cases in 2024. In addition, cancer is expected to be responsible for nearly a third of all deaths in the nation in 2024. Thus, the upsurge in cancer occurrences will buttress the growth of the neulasta market.
What key areas define the segmentation of the global neulasta Market?
The neulasta market covered in this report is segmented –
1) By Indication: Chemotherapy-Induced Neutropenia, Bone Marrow Transplantation, Other Indications
2) By Formulation: Injectable Solution, Pre-Filled Syringes Or Pens
3) By Distribution Channel: Hospitals, Oncology Clinics, Specialty Pharmacies, Home Healthcare Services
4) By End User Patients: Adult Patients, Pediatric Patients
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What are the top market players propelling the growth of the neulasta industry?
Major companies operating in the neulasta market include Amgen Inc.
What are the key trends shaping the future of the neulasta market?
A leading trend within the neulasta market involves the innovation in drug delivery technologies, specifically prefilled autoinjectors, in order to solidify a competitive advantage within the sector. These autoinjectors come pre-packaged with medication for ease and convenience of patient self-administration. Coherus Biosciences, a US-based biopharma company, revealed in March 2023, its single-dose, prefilled autoinjector version of its pegfilgrastim biosimilar, Udenyca (pegfilgrastim-cbqv), had received approval from the FDA. This biosimilar was created to prevent and treat febrile neutropenia, a frequent issue for chemotherapy patients. The autoinjector facilitated patients taking pegfilgrastim on day two after their chemotherapy, assisting in reducing the chances of febrile neutropenia. Its unique push-on-skin activation ensures a prompt and full delivery of the pegfilgrastim dose.
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What regions are dominating the neulasta market growth?
North America was the largest region in the neulasta market in 2024. The regions covered in the neulasta market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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