G-CSF (Granulocyte Colony Stimulating Factors) Global Market Opportunities and Strategies to 2030: COVID-19 Growth and Change

This report describes and explains the global G-CSF (Granulocyte Colony Stimulating Factors) market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The global G-CSF (Granulocyte Colony Stimulating Factors) market reached a value of nearly $5,005.6 million in 2020, having decreased at a compound annual growth rate (CAGR) of -5.3% since 2015, primarily due to high uptake of biosimilars in the EU and USA and COVID-19 impact. The market is expected to grow from $5,005.6 million in 2020 to $5,721.6 million in 2025 at a rate of 2.7%. The market is then expected to grow at a CAGR of 6.3% from 2025 and reach $7,761.1 million in 2030.

Growth in the historic period resulted from increase in cancer prevalence, strong economic growth in emerging markets, increased healthcare expenditure, increase in pharmaceutical R&D expenditure and government initiatives. Factor that negatively affected growth in the historic period was pricing pressures from regulators, challenges due to regulatory changes and low healthcare access.

Going forward, increasing prevalence of cancer, increasing demand for prophylaxis granulocyte colony-stimulating factor (G-CSF), rise in healthcare expenditure, high potential of emerging economies, technology advances and high penetration of the biosimilar drugs will drive the growth. Factors that could hinder the growth of the G-CSF (Granulocyte Colony Stimulating Factors) market in the future include high costs of drugs, rise in interest rates, high cost of drug development with threat of failure and coronavirus pandemic.

The G-CSF (Granulocyte Colony Stimulating Factors) market is segmented by type into pegfilgrastim, filgrastim, lenograstim and others. The pegfilgrastim market was the largest segment of the G-CSF (Granulocyte Colony Stimulating Factors) market segmented by type, accounting for 77.6% of the total in 2020. Going forward, the filgrastim segment is expected to be the fastest growing segment in the G-CSF (Granulocyte Colony Stimulating Factors) market segmented by type, at a CAGR of 5.7% during 2020-2025.

The G-CSF (Granulocyte Colony Stimulating Factors) market is segmented by application into oncology, blood disorders, chronic and autoimmune disorders and other applications. The oncology market was the largest segment of the G-CSF (Granulocyte Colony Stimulating Factors) market segmented by application, accounting for 61.7% of the total in 2020. Going forward, the oncology segment is expected to be the fastest growing segment in the G-CSF (Granulocyte Colony Stimulating Factors) market segmented by application, at a CAGR of 3.3% during 2020-2025.

The G-CSF (Granulocyte Colony Stimulating Factors) market is segmented by geography into Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.North America was the largest region in the global G-CSF (Granulocyte Colony Stimulating Factors) market, accounting for 50.1% of the total in 2020. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the G-CSF (Granulocyte Colony Stimulating Factors) market will be Middle East, and Eastern Europe, where growth will be at CAGRs of 25.9% and 11.7% respectively. These will be followed by South America, and Africa where the markets are expected to grow at CAGRs of 8.6% and 5.0% respectively.

The G-CSF (Granolocyte Colony Stimulating Factors) market is particularly prone to disruption from the coronavirus outbreak, as patients with cancer are more susceptible to viral infections, especially after chemotherapy, stem cell transplants, or surgeries. COVID-19 has caused clinical trial delays for G-CSF drugs, and has resulted in low usage of G-CSF drugs. Due to worldwide lockdown, production is also being halted which is causing supply chain issues.

The onset of the COVID-19 pandemic brought multiple complications across various markets, out of these, the G-CSF market took a hard hit. Supply chain disruption has impacted distribution and the availability of critical drugs and the delay in clinical trials along with halting of research work for G-CSF drugs has severely impacted the G-CSF market.

The G-CSF market is concentrated, with a small number of large players dominating the market. The top eight competitors in the market made up to 89.1% of the total market in 2019. The market is highly competitive. Companies in the market face completion for new product developments and technological advances. Major players in the market includes, Amgen Inc., Coherus Biosciences Inc., Sandoz (Novartis), Biocon/Mylan, Teva Pharmaceutcals Inc., Chugai Pharma Inc., Intalfarmaco Group, and Pfizer.

The top opportunities in the G-CSF (Granulocyte Colony Stimulating Factors) market segmented by type will arise in the pegfilgrastim segment, which will gain $420.6 million of global annual sales by 2025. The top opportunities in segment by application will arise in the oncology segment, which will gain $539.6 million of global annual sales by 2025. The G-CSF (Granulocyte Colony Stimulating Factors) market size will gain the most in the USA at $337.0 million.

Market-trend-based strategies for the G-CSF (Granulocyte Colony Stimulating Factors) market include investing extensively in R&D activities for the development of effective and innovative drugs, increasing focus on M&A growth strategies to expand the customer base and geographic markets, establishing strategic partnerships with the large players to expand their research and developments activities in new drug developments and focusing efforts towards the production of biosimilars for neutropenia treatment to improve revenues and product offerings.

Player-adopted strategies in the G-CSF (Granulocyte Colony Stimulating Factors) market include expanding their business presence through strategic acquisitions of emerging companies, commercialization of biosimilars, drug approvals from regulatory bodies, product expansions, and innovative product developments.

To take advantage of the opportunities, the publisher recommends the G-CSF (granulocyte colony stimulating factors) market companies to focus on research and development, acquisitions of other companies, expand in emerging markets, offering skimmed pricing, leveraging social media platforms, targeting hospitals and pharmacies to spread awareness and target geriatric populations.