New York, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "G-CSF (Granulocyte Colony Stimutating Factors) Global Market Report 2020-30: COVID-19 Growth and Change" - https://www.reportlinker.com/p05996814/?utm_source=GNW
Reddy’s Laboratories and Celltrion Inc.

The global Granulocyte-Colony Stimulating Factor (G-CSF) is expected to decline from $7.30 billion in 2019 to $6.91 billion in 2020 at a compound annual growth rate (CAGR) of -5.27%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $8.33 billion in 2023 at a CAGR of 6.44%.

The G-CSF (Granulocyte Colony Stimulating Factors) market consists of sales of G-CSF drugs and relates services. Granulocyte colony-stimulating factor is a drug used to treat neutropenia, a disorder in which there is a lower-than-average number of white blood cells, caused by certain forms of chemotherapy.

North America was the largest region in the G-CSF market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

In June 2019, Pfizer Inc., a US-based pharmaceutical corporation, acquired Array BioPharma Inc. for $48 per share in cash, for a total enterprise value of approximately $11.4 billion. This acquisition strengthens Pfizer’s innovative biopharmaceutical business and is expected to accelerate its growth trajectory, particularly in the long term. Array BioPharma Inc, a US-based company, is focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer.

The G-CSF market covered in this report is segmented by type into lenograstim (granocyte); filgrastim (neupogen, zarzio, nivestim, accofil); long acting (pegylated) filgrastim (pegfilgrastim, neulasta, pelmeg, ziextenco); lipegfilgrastim (lonquex) and by application into oncological diseases; blood disorders; growth hormone deficiencies; chronic and autoimmune disorders; others.

The increasing demand for prophylaxis granulocyte colony-stimulating factor (G-CSF) is another key factor driving the growth of the granulocyte-colony stimulating factor market. The prophylaxis with G-CSF decreases the occurrence of febrile neutropenia (FN), allowing patients to receive and stay on myelosuppressive chemotherapy. The current use of G-CSF prophylaxis offers significant benefits including reducing incidents of febrile neutropenia by 3.3 million and cases of chemotherapy reduced dosage intensity by less than 85%, over the next 10 years. Therefore, the increasing demand for prophylaxis granulocyte colony-stimulating factor (G-CSF) is expected to drive the growth of the granulocyte-colony stimulating factor market.

The high cost is a key factor limiting the growth of the G-CSF market. Improved chemotherapy administration is responsible for the rise in instant medical expenses in breast cancer patients receiving primary prophylactic (PP) G-CSF. According to a study conducted by the American Journal of Managed Care, PPG-CSF administration in the first chemotherapy class was associated with a 57 % increase in total Medicare costs during the study period, despite a fall in medical costs for neutropenia. Around 42% of the increase can be attributed to the rise in the costs of chemotherapy. Each shot of PPG-CSF costs more than $250. Therefore, the high cost is expected to hinder the growth of the G-CSF (Granulocyte Colony Stimulating Factors) market.

The increasing prevalence of cancer is a key factor driving the growth of the G-CSF (Granulocyte Colony Stimulating Factors) market. Cancer is considered to be the second major cause of death, with around 1 in 6 deaths due to cancer worldwide. According to the World Health Organization (WHO), 9.6 million deaths occurred in 2018 due to cancer. About 70% of deaths from cancer occur in low- and middle-income countries. G-CSF is a class of growth factor which produces white blood cells in the bone marrow to minimize the risk of infection and sepsis. In cancer patients, G-CSF accelerates recovery and reduces mortality from neutropenia after chemotherapy for cancer. It can also reduce infection after certain forms of treatment for cancer. Therefore, the increasing prevalence of cancer is expected to drive the growth of the G-CSF market.
Read the full report: https://www.reportlinker.com/p05996814/?utm_source=GNW

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