Erythropoietin Drugs Market Growth
According to a new report published by Allied Market Research, titled, “erythropoietin drugs market by type, application: global opportunity analysis and industry forecast, 2021–2028,” the global erythropoietin drugs market size was valued at $9,243.12 million in 2020, and is projected to reach $14,414.59 million by 2028, registering a CAGR of 5.7% from 2021 to 2028.
Rising incidences of Cancer, ESRD (End Stage Renal Disease), and HIV have largely contributed to the overwhelming demand for EPO drugs. Approximately 20% of the patients suffering from Cancer/HIV and ~70% of the patients suffering from ESRD undergo chemotherapy, which induces anemia in such patients, requiring EPO treatment. Despite this, the market nevertheless witnesses restraints due to highly priced EPO drugs resulting in minimal adoption. However, commercialization of EPO biosimilars would eventually ease the influence of restraints and fuel the market growth, primarily across the developing regions.
To view the report, visit the website at : http://www.alliedmarketresearch.com/erythropoietin-market
Globally, ~70% of the market share is held by the developed regions owing to favorable reimbursements leading to affordability for EPO drugs. Going forward, owing to commercialization of EPO biosimilars, the Asia-Pacific EPO drugs market would be the most potential market among other regions.
Rise in prevalence of anemic conditions induced from end stage renal disease treatment, chemotherapy, and antiretroviral treatment (ART) is the primary factor that propels growth of the erythropoietin market. Hence, rise in number of treatment cycles for chemotherapy and increase in incidences of end stage renal diseases (dialysis) has increased demand for EPO. Side effects associated with EPO including arterial hypertension, iron deficiency, and influenza-like syndrome and longer duration of EPO treatment (4-6 weeks) restrain growth of the erythropoietin drugs market. In addition, rise in trends of commercialization for erythropoietin biosimilars, readily available reimbursements, favorable government regulations, and increase in level of awareness regarding benefits of EPO therapeutics boost growth of the erythropoietin drugs market.
Erythropoietin Drugs Market Segmentation
Erythropoietin/hematopoietin is a glycoprotein hormone that triggers production of red blood cells in the bone marrow through erythropoiesis. Erythropoietin drug was developed with the objective to treat anemic conditions caused from ESRD treatments and dialysis procedures. EPO drugs have gained approvals for chemotherapy-induced anemia. Advanced application of recombinant DNA technology enables production of erythropoietin for in-vitro conditions/synthetic variants, which are referred to as recombinant human erythropoietin (rHuEPO). Currently, EPO’s, are largely used in anemic conditions induced from end stage renal disease treatment, chemotherapy, and antiretroviral treatment (ART).
This pandemic has disrupted growth in many economies across various domains. However, there has also been a positive effect and surge in demand for various medical services, including erythropoietin. As erythropoietin (EPO) is a drug for anemia and can be effective against COVID-19, as per scientists at Max Planck Institute of Experimental Medicine in Göttingen. According to them, when the SARS-CoV-2 attacks brain, growth aspect can mitigate serious disease development and protect people from long-term neurological impacts. Primary case studies suggest a favorable effect of erythropoietin. Currently, scientists are planning a randomized clinical trial to systematically investigate effects of treating COVID-19 using erythropoietin.
Rise in prevalence of anemic conditions induced from end stage renal disease treatment, chemotherapy, and antiretroviral treatment (ART). Hence, rise in number of treatment cycles for chemotherapy and increase in incidences of end stage renal diseases (dialysis) has increased demand for EPO. Side effects associated with EPO including arterial hypertension, iron deficiency, and influenza-like syndrome and longer duration of EPO treatment (4-6 weeks) restrain growth of the erythropoietin drugs market. In addition, rise in trends of commercialization for erythropoietin biosimilars, readily available reimbursements, favorable government regulations, and increase in level of awareness regarding benefits of EPO therapeutics boost growth of the erythropoietin drugs market.
On the basis product type, epoetin-alfa segment is anticipated to grow with the highest revenue throughout the forecast period, owing to increase in sales of Epogen, which is the top selling brand of erythropoietin, developed by Amgen. Epogen indicated notable growth in the U.S. market as Amgen procured patent protection for this product.
By application, the kidney disorders (ESRD and Dialysis) segment accounted for a major share in 2020, and is expected to exhibit a prominent growth rate during the forecast period, owing to increase in cases of patients with kidney disease. Furthermore, ESRD is majorly responsible for prescription of EPO treatment among renal disease patients.
Key Findings Of The Study
- On the basis of product, the epoetin-alfa held largest share in the global erythropoietin drugs market in 2020.
- On the basis of application, the kidney disorders held the largest erythropoietin drugs market share in 2020, and is expected to remain dominant throughout the forecast period.
- By region, North America is expected to experience growth at the highest rate, during the forecast period.
Key Market Players:
TEVA PHARMACEUTICAL INDUSTRIES LTD., LG LIFE SCIENCES LTD., ROCHE DIAGNOSTICS, HOSPIRA INC., RANBAXY LABORATORIES LTD., CELLTRION, INC, INTAS PHARMACEUTICALS, BIOCON, AMGEN INC., JOHNSON AND JOHNSON
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