Lenograstim Market
Number of pages: 100 | Report Format: PDF | Published date: May 12, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
CAGR |
4.2% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Indication, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global Lenograstim market is expected to register a revenue CAGR of 4.2%.
Lenograstim Market Fundamentals
Lenograstim is used to stimulate the production of white blood cells in patients undergoing chemotherapy or bone marrow transplant. It is a type of medication called granulocyte colony-stimulating factor (G-CSF). Lenograstim is often used in patients who are undergoing chemotherapy to help prevent or treat neutropenia, which can increase the risk of infections. It can be given prophylactically (before neutropenia occurs) or therapeutically (after neutropenia has occurred). The global market for lenograstim is driven by the increasing cancer incidence and the rising demand for chemotherapy drugs. Historically, lenograstim has been used primarily for therapeutic purposes, which is administered after neutropenia. However, there is growing interest in using lenograstim prophylactically, which could increase the overall use of the medication.
The global lenograstim industry analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the Lenograstim market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the Lenograstim market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
Lenograstim Market Dynamics
There are several factors driving the growth of the global lenograstim market. The American Cancer Society predicted that in 2021, over 1.9 million new cancer cases were identified in the country and roughly 660,000 cancer-related deaths. Chemotherapy was a common treatment for many of these patients. Patients with cancer who get chemotherapy at this rate have a higher risk of developing neutropenia. A common problem that might develop after a bone marrow transplant is neutropenia. The Worldwide Network for Blood and Marrow Transplantation (WBMT) estimates that around 1.5 million HSCTs were carried out globally in 2019, with most of these operations occurring in North America and Europe. The production of white blood cells, including neutrophils, can be stimulated by the administration of growth factors such as lenograstim. Advances in biotechnology have led to the development of biosimilars of filgrastim, which are lower in cost than the original biologic drug. This has increased the affordability of the drug and led to increased uptake of both drug classes, including filgrastim and lenograstim. There has been an increase in awareness and education about the benefits of supportive care drugs such as lenograstim in managing the side effects of chemotherapy. This has led to an increased use of the drug in clinical practice. Overall, the increased use of lenograstim is a result of the growing prevalence of cancer, improved effectiveness of chemotherapy, advances in biotechnology, and increased awareness and education about the benefits of supportive care drugs.
However, there are other growth factors, such as filgrastim, pegfilgrastim, and sargramostim, that are also used to stimulate the production of white blood cells. These drugs may compete with lenograstim in the market and limit its growth.
Lenograstim Market Ecosystem
Lenograstim Market, by Indication
Lenograstim Market, by End User
Lenograstim Market by Indication
[56755]
The chemotherapy-induced neutropenia segment accounts for the largest revenue share in the global lenograstim market. Neutropenia is a common side effect of chemotherapy, which can lead to an increased risk of infections and potentially life-threatening complications. According to a study published in the Journal of Oncology Pharmacy Practice, the prevalence of chemotherapy-induced neutropenia ranges from 40% to 60% among cancer patients receiving chemotherapy. Lenograstim is a medication commonly used to prevent or treat neutropenia in chemotherapy patients. As the prevalence of cancer increases globally, the number of patients undergoing chemotherapy is also expected to increase. This shall drive demand for lenograstim in the chemotherapy-induced neutropenia segment.
The market segmentation sections provide the Lenograstim market outlook in terms of the demarcation of different consumer groups. Market segmentation is the split of an industry into subgroups depending on characteristics such as indication, end User, and region. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential Lenograstim market demand opportunities.
Lenograstim Market by Region
North America accounts for the largest revenue share in the global lenograstim market, and it is expected to continue to grow in the coming years. The United States is North America's largest market for lenograstim, followed by Canada. Demand for lenograstim is anticipated to rise in North America because of the rising cancer incidence. It is anticipated that the requirement for supportive medications, such as lenograstim, to prevent or treat neutropenia will also rise as an increasing number of patients undergo chemotherapy. The American Cancer Society estimates that 608,570 Americans will die from cancer this year and that 1.9 million new cases will be diagnosed in the United States in 2021. The estimated annual incidence of febrile neutropenia (FN), a type of CIN associated with fever and infection, in the United States was approximately 114,000 cases, according to a study published in the journal Cancer in 2019. Lenograstim biosimilars have been approved in the United States and Canada, which could make the market more competitive and lower prices. Lenograstim and several other drugs are supported in their development by North America's robust research and development infrastructure. New lenograstim formulations that enhance patient outcomes and convenience may emerge because of this.
Based on the regions, the global Lenograstim market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of Lenograstim industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level Lenograstim market overview.
Key Components of the Report
Lenograstim Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Lenograstim is a recombinant granulocyte colony-stimulating factor that functions as an immunostimulatory.
During the forecast period, North America will have the largest revenue share in the global lenograstim market.
The global lenograstim market is expected to grow at a revenue CAGR of 4% during the forecast period.
The increasing number of cancer incidences globally is the most prominent trend in the global lenograstim market.
The lenograstim market is still developing in many emerging markets, presenting an opportunity for manufacturers to expand their presence in these regions.
The presence of other granulocyte-stimulating agents such as filgrastim, and other biosimilars may hamper the growth of this market.
The incidence of cancer is increasing globally, which is driving demand for drugs like lenograstim that are used in the treatment of chemotherapy-induced neutropenia.
Chugai Pharmaceuticals and Sanofi S.A. are the players in the global lenograstim market.
The chemotherapy-induced neutropenia segment has the highest share in the global lenograstim market.
*Insights on financial performance are subject to the availability of information in the public domain