Portland, OR, June 23, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Erythropoietin Drugs Market was pegged at $9.24 billion in 2020, and is estimated to reach $14.41 billion by 2028, growing at a CAGR of 5.7% from 2021 to 2028.
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Rise in prevalence of cancer, HIV, anemia, and kidney diseases, surge in level of awareness about the benefits of EPO therapeutics, and commercialization for erythropoietin biosimilars drive the growth of the global erythropoietin drugs market. However, longer duration of treatment, unaffordability of therapeutics, and adverse amount of side effects hinder the market growth. On the contrary, the commercialization of darbepoetin alfa biosimilar and achieving economies of scale across developed regions are expected to open lucrative opportunities for the market players in the future.
Covid-19 scenario:
- The outbreak of Covid-19 disrupted the workflow in the healthcare sector as the rapid spread of coronavirus forced several industries to shutdown temporarily.
- However, the pandemic had a positive effect on the demand for medical services including erythropoietin.
- As erythropoietin is used to treat anemia and can be effective against Covid-19, which boosted its demand. Moreover, it has anti-ischemic, anti-apoptotic, and regenerative effects in several tissues such as kidney, lungs, nervous system, retina, and pancreas. Thus, it can be used to treat critically ill patients.
The global erythropoietin drugs market is segmented on the basis of product type, application, and region.
Based on product type, the epoetin-alfa segment held the lion’s share in 2020, accounting for more than two-fifths of the market. However, the darbepoetin-alfa segment is estimated to register the highest CAGR of 7.0% during the forecast period.
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On the basis of application, the kidney disorder segment dominated the market in 2020, contributing to more than two-fifths of the market. In addition, the segment is expected to manifest the highest CAGR of 6.5% during the forecast period.
The global erythropoietin drugs market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for more than one-third of the market. However, the market across Asia-Pacific is projected to register the highest CAGR of 7.8% from 2021 to 2028.
The global erythropoietin drugs market includes an in-depth analysis of the prime market players such as Johnson & Johnson, Amgen Inc., Roche, Hospira Inc., Biocon, LG Life Sciences Ltd., Teva Pharmaceutical Industries Ltd., Intas Pharmaceuticals, Ranbaxy Laboratories Ltd., and Celltrion, Inc.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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