Hematopoietic Stimulants are also known as granulocyte colony stimulating factors or granulocyte macrophage colony stimulating factors. Hematopoietic stimulants are given as shots under the skin which are man-made form which is produced naturally by the body which helps bone marrow to make new white blood cells. Hematopoietic Stimulants are given after the chemotherapy for cancer, where the cells for the bone marrow is killed during chemotherapy. Hematopoietic Stimulants helps to produce new white blood cells which are required to fight infection while being treatment with chemotherapy. Development of various biosimilars for the production of white blood cells owing to increasing funding and development will drive the market of hematopoietic stimulants in the near future
With the introduction of biosimilars in the pharma industry have lowered the cost of treatment for various disease. Development of new biosimilar by various major players for hematopoietic stimulants will increase the overall growth of the hematopoietic stimulants market. With the rise in healthcare spending, huge potential of the biosimilars market and growing adoption of various novel therapies will drive the hematopoietic stimulants market. Advancement in the treatment for oncology and introduction of new treatment for the patients undergoing myelosuppressive therapy further provide huge potential for the hematopoietic stimulants market to grow. Reduction in the price of hematopoietic stimulants after the development of biosimilars in the developed regions such as north America and Europe have led to the increase in the volume and consumption of hematopoietic stimulants and will continue to do so in the future which further drive the hematopoietic stimulants market.
Despite many factors driving the market of hematopoietic stimulants, there are factors which might hinder the growth of hematopoietic stimulants market globally such as stringent regulation set up by FDA and European Union for the approval of new drug or biosimilar, time taken for the drug to clear clinical trials.
The global hematopoietic stimulants market is segmented on basis of Indication Type, Route of Administration, Distribution Channel and Geography.
Increasing prevalence of cancer, growing treatment option for the cancer and various blood related disorder is expected to drive the market for hematopoietic stimulants in the near future. Development in new novel drug and therapy for various chronic disease further drive the market growth of hematopoietic stimulants. Increased funding by the government and increased research and development of new drug for the production of white blood cell spur the market of hematopoietic stimulants.
The North America market holds the largest revenue share for hematopoietic stimulants, due to increasing prevalence of disease such as cancer. AIDS and various hormone disorders. Further increasing research and development for new treatment therapy and growing number of clinical trials further boost the hematopoietic stimulants market in the forecast period. According to American Cancer Society, about 1,688,780 new cancer cases are expected to diagnose in 2017. Europe is expected to contribute for the second largest revenue share after North America in the global hematopoietic stimulants market, owing to various approval for biosimilars and presence of major key players undergoing clinical trials for drug development and increasing adoption of biologics and biosimilars in this region. Asia Pacific is expected to show rapid growth, due to strong investment by the government in research and development which helps in continuous development of innovative products with high margins and returns. Increasing adoption of biosimilars provide great opportunity for the new players in Asia Pacific to develop drugs with costs and shorter development time which further spur the hematopoietic stimulants market. China is expected to register fast growth, due to changing regulatory environment, clearing regulatory & commercial hurdles and favorable reimbursement scenarios. Latin America and Middle East & Africa are projected to exhibit slow growth in hematopoietic stimulants market, due to underdeveloped approval process and lack of regulation.
Examples of some of the key manufacturer present in the global hematopoietic stimulants market are Novartis AG, Amgen, Emcure Pharmaceuticals, Mylan N.V., Teva Pharmaceutical Industries Ltd., Coherus BioSciences, Inc., Pfizer Inc., Partner Therapeutics, Inc. among others.
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