Covina, Oct. 05, 2023 (GLOBE NEWSWIRE) -- What are Erythropoietin (EPO) drugs, and what is their primary purpose in healthcare?
Erythropoietin are proteins called as growth factors where erythropoietin drugs are used to maintain healthy amount of red blood cells in human being. Erythropoietin contains synthetic protein which helps bone marrow to develop red blood cells.
Growing prevalence of anemia, caner, chronic kidney disease, bone marrow dysfunction, and HIV are major factor driving growth of the global erythropoietin drugs market. Furthermore, blood transfusion during surgeries and treatment of solid tumors, malignant lymphoma or multiple myeloma, and cardiovascular status is also expected to propel the market growth. Moreover, growing drug patent expiration is shifting vendors to emphasize on using bio-similar medicines that have same therapeutic effect with lower cost is another factor which supports the growth of Erythropoietin Drugs market.
Key Trends in the Erythropoietin Drugs Market
- Increasing Incidence of Anemia: Anemia, a condition characterized by a lack of red blood cells, continued to be a prevalent health issue globally. Erythropoietin drugs, which stimulate red blood cell production, were in demand to treat various forms of anemia, including those associated with chronic kidney disease, cancer, and chemotherapy.
- Biologics and Biosimilars: The market was witnessing a shift from traditional erythropoietin drugs to biologics and biosimilars. Biologics are manufactured using living cells and offer potential advantages in terms of efficacy and reduced side effects. Biosimilars, which are highly similar to the original biologics, were gaining traction due to cost-effectiveness.
- Growing Dialysis and CKD Patient Population: With the increasing prevalence of chronic kidney disease (CKD) and the need for dialysis in these patients, the demand for erythropoietin-stimulating agents (ESAs) remained high. These drugs are used to manage anemia in CKD patients, particularly those undergoing dialysis.
- Rising Aging Population: The global aging population was contributing to the growth of the erythropoietin drugs market. Elderly individuals are more susceptible to anemia, often due to age-related chronic conditions, making erythropoietin drugs a vital part of healthcare for this demographic.
- Market Expansion in Emerging Economies: The market was expanding in emerging economies where healthcare infrastructure was improving. Increasing healthcare spending, greater awareness of anemia management, and the availability of newer erythropoietin drug formulations were driving growth in these regions.
Report Scope:
| Attribute | Details |
| Base year for estimation | 2020 |
| Forecast period | 2020 – 2030 |
| Accounted in | US$ 11 billion |
| Is estimated in | US$ 25.9 billion |
| CAGR of | 8.9% |
| Market representation | Revenue in USD Million & CAGR from 2020 – 2029 |
| Market Segmentation | By Drug Class: Biologics and Biosimilar By Product: Epoetin-Alfa, Epoetin-Beta, Darbepoetin-Alfa, and Others (Pegylated Erythropoietin and Carbamylated Erythropoietin) By Application: Cancer, Hematology, Renal Diseases, and Neurology |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
The major companies in the market are as follows:
- Johnson & Johnson
- Celltrion, Inc.
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- Amgen, Inc
- F. Hoffmann-La Roche Ltd.
- LG Life Sciences Ltd.
- Biocon Limited
- Intas Pharmaceuticals Ltd
- Sun Pharmaceutical Industries Ltd
- Dr. Reddy’s Laboratories Ltd.
Request a PDF of the Report
https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/808
Analyst View:
Growing prevalence of diseases coupled with large patient pool and developed healthcare infrastructure with better reimbursement scenario has become major contribution in target market growth. Presence of major players and approval of drugs has further expected to boost the demand for Erythropoietin Drugs market growth.
Conclusion
The Erythropoietin Drugs Market has shown sustained growth due to the rising incidence of anemia, especially in patients with chronic kidney disease and cancer undergoing chemotherapy. Erythropoietin drugs, which stimulate red blood cell production, have played a crucial role in managing anemia-related conditions. Market competition and patent expirations have driven cost-effective biosimilar alternatives, influencing market dynamics. Overall, the Erythropoietin Drugs Market is expected to continue evolving with a focus on innovation, accessibility, and cost-efficiency to meet the growing demand for anemia management solutions.
Request a Customized Copy of the Report:
https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/808
More Trending Reports:
- Kidney Cancer Drugs Market - Increasing prevalence of kidney cancer, owing to increasing obesity among the individuals
- Drug Discovery Services Market - Trends, Analysis and Forecast till 2025
- Subcutaneous Biologics Market - High treatment costs for subcutaneous biologics.
Blog: www.prophecyjournals.com
Follow us on:
LinkedIn | Twitter | Facebook |YouTube
