last entrant; latecomer
Used for the last participant to enter a race, market, competition, or similar context. Often implies a disadvantage or a fresh challenger.
The company entered the market as the last entrant.
The last runner crossed the finish line.
先発 means 'first departure' or 'early entrant', the opposite of 最後発.
Compound of 最後 (last) and 発 (departure, start). The exact historical derivation is uncertain, but the meaning is transparent from its components.