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Rising Prevalence Of Cancer Drives G-CS Market Growth: Key Factor Driving The Growth In The G-CSF (Granulocyte Colony Stimulating Factors) Market
G-CSF (Granulocyte Colony Stimulating Factors)
What Is the Expected G-CSF (Granulocyte Colony Stimulating Factors) Market Size During the Forecast Period?
The steady expansion of the G-CSF (granulocyte colony stimulating factors) market has been noticeable in recent years. The market, which is expected to rise from $5.5 billion in 2024 to $5.72 billion in 2025, will demonstrate a compound annual growth rate (CAGR) of 3.9%. The growth seen in the historical period can be traced back to a rise in cancer incidences, robust economic development in burgeoning markets, augmented healthcare spending, an upturn in pharmaceutical research & development expenditure, and government-led initiatives.
Strong expansion is anticipated in the G-CSF (granulocyte colony stimulating factors) market in the upcoming years, with its value expected to reach $7.19 billion in 2029, showcasing a compound annual growth rate (CAGR) of 5.9%. The predicted growth for this timeframe is due to numerous factors such as the rising incidence of cancer, growing demand for prophylactic granulocyte colony-stimulating factor (g-CSF), increased healthcare spending, high potential of up-and-coming economies, advancements in technology, and widespread adoption of biosimilar drugs. Foreseen trends for this period include significant investment in R&D for the creation of innovative and efficacious drugs, heightened concentration on merger and acquisition growth strategies, formation of strategic alliances, progress in new drug developments, and concerted efforts in manufacturing biosimilars for the treatment of neutropenia to enhance revenue and product variety.
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What Are the High-Growth Segments in the G-CSF (Granulocyte Colony Stimulating Factors) Market?
The G-CSF (granulocyte colony stimulating factors) market covered in this report is segmented -
1) By Type: Pegfilgrastim, Lenograstim, Filgrastim, Other Types
2) By Product: Tablet, Capsule, Other Products
3) By Application: Oncological Diseases, Blood Disorders, Chronic And Autoimmune Disorders, Other Applications
Subsegments:
1) By Pegfilgrastim: Pre-filled Syringes, Vial Formulations, Biosimilars Of Pegfilgrastim
2) By Lenograstim: Injectable Formulations, Vial Formulations, Combination Therapies
3) By Filgrastim: Injectable Formulations, Pre-filled Syringes, Biosimilars Of Filgrastim
4) By Other Types: Filgrastim-sndz (Biosimilar), Novel G-CSF Products In Development, Combination Therapies With Other Growth Factors
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What Key Drivers Are Expected to Influence Future G-CSF (Granulocyte Colony Stimulating Factors) Market Growth?
The surge in cancer cases globally is propelling the growth of the G-CSF (granulocyte colony stimulating factor) market, given that cancer is the second leading cause of death, with 1 in 6 global deaths being cancer-related. As per the American Cancer Society, a US voluntary health organization focusing on cancer elimination, it is estimated that in January 2023, the US will record 1,958,310 new cancer incidences and 609,820 deaths due to cancer. G-CSF, a class of growth factors, generates white blood cells in the bone marrow, thereby reducing infection and sepsis risks. In those affected by cancer, G-CSF triggers quicker recovery and lessens neutropenia-associated death rates post-chemotherapy for cancer. It also limits infections following certain cancer treatments. Consequently, the escalating rate of cancer is anticipated to boost the G-CSF market's expansion.
Which Companies Hold the Largest Share Across Different G-CSF (Granulocyte Colony Stimulating Factors) Market Segments?
Major companies operating in the G-CSF (granulocyte colony stimulating factors) market include Amgen Inc., Coherus Biosciences Inc., Sandoz, Biocon/Mylan, Teva Pharmaceuticals Inc., Chugai Pharma, Intalfarmaco Group, Pfizer, Sun Pharmaceutical Industries Limited, BeyondSpring Inc., Kyowa Hakko Kirin Co. Ltd, BioCad, Stada Arzneimittel, Dong-A Socio Group, Dr. Reddy's Laboratories, Celltrion Inc., Emcure Pharmaceuticals, Accord Healthcare UK, Intas Pharmaceuticals, Spectrum Pharmaceuticals, Apobiologix, Apotex Inc., Eurofarma Laboratórios, BIOPHARMA-MEA, NeoTX, AID Genomics Limited, GlaxoSmithKline plc, AstraZeneca, Merck Sharp & Dohme Corp., Julphar, Sanofi, Novo Nordisk A/S, Bayer, Kitov Pharma Limited, CureTech Ltd., Neopharma, Cipla.
What Trends Are Driving Growth in The G-CSF (Granulocyte Colony Stimulating Factors) Market?
Firms in the G-CSF (granulocyte colony-stimulating factor) market are zooming in on strategic alliances to produce cutting-edge products and expand their market reach. The trend of these companies teaming up with one another or with educational and research organizations has seen a rise in licensing agreements both inbound and outbound, particularly in recent years. A case in point from 2022, Evive Biotech, a biopharmaceutical firm based in Singapore, entered into an exclusive, enduring licensing agreement with APOGEPHA, a pharmaceutical company in Germany, for F-627(Efbemalenograstim alfa)'s commercialization in Germany and Switzerland. The F-627 is an innovative dimeric G-CSF long-lasting fusion protein free from pegylation.
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What Are the Emerging Geographies for The G-CSF (Granulocyte Colony Stimulating Factors) Market Growth?
North America was the largest region in the G-CSF (granulocyte colony-stimulating factors) market in 2024. The regions covered in the G-CS (granulocyte colony stimulating factors) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the G-CSF (Granulocyte Colony Stimulating Factors) Market?
2. What is the CAGR expected in the G-CSF (Granulocyte Colony Stimulating Factors) Market?
3. What Are the Key Innovations Transforming the G-CSF (Granulocyte Colony Stimulating Factors) Industry?
4. Which Region Is Leading the G-CSF (Granulocyte Colony Stimulating Factors) Market?
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