How is the Neupogen (filgrastim) Market Poised for Growth: Trends and Opportunities Through 2034
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What is the Predicted Annual Growth Rate of the Neupogen (filgrastim) Market Over the Coming Decade?
There has been a substantial growth in the market size of neupogen (filgrastim) in the past few years. The market is anticipated to expand from a valuation of $1,330.69 million in 2024 to a staggering $1,404.70 billion in 2025, growing at a compound annual growth rate (CAGR) of 5.6%. The impressive growth during the historical period could be linked to the escalating rate of cancer cases, increased awareness related to chemotherapy-induced neutropenia, enhancements in healthcare infrastructure, early clearance for Neupogen biosimilars, and a rise in global healthcare spending.
Expectations are high for robust expansion in the Neupogen (Filgrastim) market in the coming years. It’s predicted to reach $1,727.05 million by 2029 with a compound annual growth rate (CAGR) of 5.3%. This anticipated growth during the forecast period is largely due to an increased need for affordable neutropenia treatment, larger healthcare coverage in developing markets, amplified government backing for biosimilar infiltration, a sharpened concentration on tailored medicine, and an aging population. Foreseen trends for the prediction period are rising investments in biosimilars’ research and development, progress in drug administration systems for neutropenia treatments, escalating collaborations for the commercialization of oncology drugs, a heightened emphasis on patient affordability initiatives, and the advent of next-generation G-CSF products.
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Neupogen (filgrastim) Market?
The increasing instance of various illnesses is anticipated to push the growth of the neupogen (filgrastim) market in the future. Diseases, often stemming from infections, genetics, environmental conditions or personal health habits, are aberrations in the body’s structure or functionality causing specific symptoms and complications. An aging demographic, inactive lifestyles, rising pollution, poor nutrition, and the extensive distribution of infectious viruses all contribute to thriving disease prevalence. Neupogen (filgrastim) mitigates the repercussions of chemotherapy-induced neutropenia by prompting neutrophil production, thus boosting the immune system’s infection-fighting capabilities in immunocompromised patients. It plays a crucial role in minimizing hospitalization periods, managing infection risks, and ensuring continuous cancer treatment for patients undergoing rigorous therapies. For example, Allergy UK reported in April 2024 that over 21 million people in the UK were affected by allergies, positioning it as the top reported chronic health condition in 2022, with projections forecasting that half of the European population will suffer at least one allergy by 2026. Moreover, the Macmillan Cancer Support disclosed in June 2022 that 3 million people were living with cancer in the UK in 2022, with an expected increase to roughly 3.5 million by 2025 and to 4 million by 2030. As such, the increased prevalence of various diseases fuels the growth of the neupogen (filgrastim) market.
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What Are the Major Players Making an Impact in the Neupogen (filgrastim) Market’s Growth?
Major companies operating in the neupogen (filgrastim) market include Amgen Inc.
Which Upcoming Trends Are Set to Influence the Neupogen (filgrastim) Market’s Path Forward?
A primary trend in the Neupogen (filgrastim) market entails the emphasis on crafting innovative filgrastim biosimilar solutions. These novel products serve as affordable and readily available alternatives to manage chemotherapy-induced neutropenia. Considered biological medications, filgrastim biosimilar solutions duplicate the safety, efficacy, and structure of the original filgrastim (Neupogen). Their main function is to boost neutrophil production in chemotherapy patients, thereby preventing neutropenia. As an example, in November 2022, Releuko (filgrastim-ayow), a biosimilar to Neupogen (filgrastim), was introduced in the US market by Amneal Pharmaceuticals and Kashiv Biosciences, both US-based companies. Releuko comes in intravenous and subcutaneous forms, accessible in single-dose vials and prefilled syringes, thus offering versatility in dosing for healthcare providers. The significance of Releuko lies not just in its cost-effectiveness, but also in its role in enhancing the availability of critical oncology care and responding to the increasing market demand for biosimilars.
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Which Key Segments of the Neupogen (filgrastim) Market Are Poised for Growth and Innovation?
The neupogen (filgrastim)market covered in this report is segmented –
1) By Drug Type: Biologic; Biosimilar
2) By Indication: Chemotherapy Induced Neutropenia; Chronic Neutropenia; Others
3) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies
What Regions Are Steering Growth in the Neupogen (filgrastim) Sector?
North America was the largest region in the neupogen (filgrastim) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neupogen (filgrastim) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Neupogen (filgrastim) Market Classified and Defined in Market Analysis?
Neupogen (filgrastim) is a recombinant granulocyte colony-stimulating factor (G-CSF) that stimulates the production of white blood cells in the bone marrow. It is used to prevent infection in patients with neutropenia caused by chemotherapy, bone marrow transplantation, or certain medical conditions.
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