PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299748
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299748
Erythropoietin drugs market size was valued at USD 7,008.1 Million in 2022, expanding at a CAGR of 10.5% from 2023 to 2030.
Erythropoietin (EPO) is also known as hematopoietin, a glycoprotein hormone secreted from the kidneys that play an important role in the development of red blood cells (RBCs) in the bone by stimulating the bone marrow tissues. Additionally, a rise in RBC count increases the hemoglobin level in the bloodstream and delivers a sufficient amount of oxygen to every part of the body. Moreover, erythropoietin medications are largely used in the treatment of anemia caused by end-stage renal disease (ESRD) and dialysis procedures.
The increasing prevalence of anemic conditions caused by ESRD treatment, antiretroviral treatment, and chemotherapy are major factors projected to increase the demand for the erythropoietin market. Additionally, besides treating anemia, several therapeutic advantages are associated with recombinant human erythropoietin such as brain disorders. Moreover, if erythropoietin is administered systematically, it passes the blood-brain barrier as a result improving neuroplasticity and rising cognitive functions in many brain disorders. However, the increasing cost of erythropoietin drugs is one of the major factors that could restrain the market growth during the forecast period.
Furthermore, increasing awareness regarding the advantages of erythropoietin therapeutics drugs, readily available reimbursements, and rising trends of commercialization for erythropoietin biosimilars are expected to boost the EPO drugs market growth. The COVID-19 pandemic had a positive impact on the erythropoietin drugs market. It increased the demand for medicines and also increased the demand for various medical services. Additionally, the drug is helpful in anemia treatment and works against COVID-19.
The global erythropoietin drugs market is segmented on the basis of type, product, application, and region.
The market is divided into two categories based on type: biologics and biosimilars. The biosimilars sector is likely to dominate the market. Due to the strong product pipeline, an increasing partnership among manufacturers & hospitals, and rising funds for development & research.
The market is divided into two categories based on product: erythropoietin and darbepoetin-alfa. The darbepoetin-alfa sector is expected to possess the market. This is partially due to darbepoetin-alfa helping in treating anemia that occurs in a patient who received chemotherapy for cancer.
The market is divided into three categories based on application: cancer, renal diseases, neurology, and others. The cancer sector is estimated to hold the largest market share during the forecast period. Cancer cases are increasing due to the adoption of alcohol, western lifestyle, smoking, and poor diet choice. Thus in turn propel the cancer segment growth.
The increasing demand for erythropoietin drugs thus increases the market growth globally. Additionally, market players are focusing on new product launches, partnerships, joint ventures, collaborations, and regional growth. Moreover, an increase in anemia in cancer patients boosted the erythropoietin drug market growth. Furthermore, strategies used by market players to strengthen and expand their business include R&D spending, mergers & acquisitions, and distribution channel development. For instance, in March 2022, Zydus Lifesciences a company received the new drug approval for Oxemia (Desidustat). Additionally, it is a first-of-its-kind oral treatment for anemia associated with chronic kidney disease(CKD), from the Drugs Controller General of India (DCGI).
This proposed research study on erythropoietin drugs market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for erythropoietin drugs market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the erythropoietin drugs market.
Impact of COVID-19 on erythropoietin drugs market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on erythropoietin drugs market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the erythropoietin drugs market, we have also included competitive landscape and key innovator analysis for the Erythropoietin Drugs Market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offersdetailed company profiling featuring major market participantswhich will help users to understand their financial information and strategic initiatives of players operating in the erythropoietin drugs market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global erythropoietin drugs market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows: