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Biologic Drug Treatments for Neutropenia: Market Trends 2024
Biologic Drug Treatments for Neutropenia Market Trends
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According to The Business Research Company's, The neutropenia biologic drug treatment market size has grown strongly in recent years. It will grow from $13.22 billion in 2023 to $14.08 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to market access and reimbursement, patient advocacy and awareness, physician education and training, biologic drug development, clinical trial success.
The neutropenia biologic drug treatment market size is expected to see strong growth in the next few years. It will grow to $18.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to healthcare cost management, patient-centric care models, combination therapies development, regulatory changes and approvals, personalized medicine approaches. Major trends in the forecast period include global market accessibility, advancements in manufacturing techniques, treatment protocol streamlining, biosimilar adoption, development of long-acting formulations.
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Market Drivers and Trends:
The rise in the number of cancer cases across the globe is likely to contribute to the growth of the market for neutropenia biologic drugs. Due to a growing cancer incidence and an increase in the number of people opting for chemotherapy, there has been an increase in the number of people suffering from neutropenia. 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.
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 February 2021, Asalyxa Bio completedits formation and seed funding and accelerated ASX-100 into first-in-human trials. 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.
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Major Key Players of the Market:
CVS Health Corporation, Pfizer Inc., Novartis International AG, Sanofi SA, Amgen Inc., Mylan NV, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Kyowa Kirin Co. Ltd., Tianjin CanSino Biotechnology Inc., Dr Reddy's Laboratories Ltd., The Unmanned Surface Vehicles Private Limited, Biocon Limited, Dong-A ST Co. Ltd., Akthelia Pharmaceuticals Ltd., Generon (Shanghai) Corporation Ltd., Sandoz International GmbH, Enzychem Lifesciences Corporation, Aprilbio Co. Ltd., Spectrum Pharmaceuticals Inc., S&D Pharma SK sro, Partner Therapeutics Inc., PhytoHealth Corporation, X4 Pharmaceuticals Inc., BeyondSpring Inc., Tanvex BioPharma Inc., Myelo Therapeutics GmbH, Cellerant Therapeutics Inc., Toko Pharmaceutical Industries Co. Ltd., Statera Biopharma Inc.
Neutropenia Biologic Drug Treatment Market 2024 Key Insights:
• The neutropenia biologic drug treatment market size is expected to see strong growth in the next few years. It will grow to $18.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Cancer Epidemic Driving Demand For Neutropenia Biologic Drugs
• Innovative Drug Delivery Systems In Neutropenia Biologic Drugs Market
• North America was the largest region in the neutropenia biologic drug treatment market in 2023
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