How Will The Neutropenia Biologic Drug Treatment Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s neutropenia biologic drug treatment market report forecasts the neutropenia biologic drug treatment market size to grow to $15.79 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.
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Neutropenia Biologic Drug Treatment Market Size Forecast
The global neutropenia biologic drug treatment market is expected to grow from $11.26 billion in 2022 to $12.29 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neutropenia biologic drug treatment market is expected to grow from $15.79 billion in 2027 at a CAGR of 6.5%.
North America held the largest neutropenia biologic drug treatment market share.
Key Neutropenia Biologic Drug Treatment Market Driver – Rise In The Number Of Cancer Cases Globally
For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. Therefore, the rise in cancer incidence rates globally is anticipated to boost demand for the neutropenia biologic drug treatment market over the forthcoming years.
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Key Neutropenia Biologic Drug Treatment Market Trend – Developing Novel Drug Delivery Systems
Companies in the neutropenia biologic drug treatment market are increasingly investing in developing novel drug delivery systems to improve the therapeutic response of the drug and increase its efficacy. Novel drug delivery systems allow the delivery of a very high dose of drugs directly into the neutrophils, while the systemic dose remains low, thus disabling side effects. For instance, in August 2020, Asalyxa Bio announced its formation and seed funding to accelerate ASX-100 into first-in-human trials in 2021. ASX-100 is a novel spherical particle that releases a safe and effective anti-inflammatory agent, salicylic acid, directly to over-reactive immune cells and is used for treating severe neutrophil-mediated disease.
Neutropenia Biologic Drug Treatment Market Segment
1) By Drug Type: Filgrastim, Pegfilgrastim, Lenograstim, Lipegfilgrastim, Sargramostim
2) By Treatment Type: Antibiotic Drugs, Granulocyte-Colony-Stimulating Factor (G-CSF), Antifungal Drugs, Other Treatment Types
3) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, Online Pharmacies
Neutropenia Biologic Drug Treatment Market Major Players and Strategies
Major players in the neutropenia biologic drug treatment market are Teva Pharmaceutical, Amgen, Sanofi, Mylan, Kyowa Kirin, Baxter International, CVS Health Corp., Novartis, Spectrum Pharmaceuticals, and Partner Therapeutics.
In September 2020, Gilead Sciences, a US-based biopharmaceutical company, launched Immunomedics for $21 billion. Through this acquisition, Gilead will get TrodelvyTM ( acituzumabgovitecan-hziy), which will alter Gilead’s portfolio by adding a first-in-class commercial drug with considerable revenue potential and best-in-class potential. Immunomedics is a biotechnology company based in the United States that provides biologic drug treatment for neutropenia.
The Neutropenia Biologic Drug Treatment Global Market Report 2023 covers regional data on neutropenia biologic drug treatment market size, neutropenia biologic drug treatment market trends and drivers, opportunities, strategies, and neutropenia biologic drug treatment market competitor analysis. The countries covered in the neutropenia biologic drug treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Neutropenia biologic drug treatment refers to drugs that are used to reduce fevers or potential infections as well as activate the bone marrow and boost neutrophil production. A lack of neutrophils, a particular type of white blood cell, causes neutropenia.
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