Albany, New York, April 10, 2019 (GLOBE NEWSWIRE) -- The global erythropoietin drugs market depicts a competitive and fragmented landscape. Many players around the world manufacture erythropoietin drugs, using widespread recombinant techniques. Despite the stiff legal battles over patents and worldwide repercussions, the erythropoietin drugs market continues to host several large players, reports Transparency Market Research (TMR). Key players in the erythropoietin drugs market are Johnson & Johnson, Amgen Inc., Roche, LG Life Sciences Ltd., Hospira Inc., Biocon.
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Major players in the global erythropoietin drugs market are focused on expanding their global footprint due to improvements in healthcare infrastructure and robust competition in emerging markets. However, gaining a competitive edge in the global erythropoietin drugs market is difficult. Due to patent expiries, many cheaper biosimilars are already available in the market. Hence, innovation through research and development promises to be a vital frontier in the global erythropoietin drugs market, especially in the use of nanoparticles. Due to the necessity of cumulative doses, side effects such as tumor growth are on the rise. Nanoparticles promise more control over administration and lowering dosage.
The global erythropoietin drugs market is predicted to reach US$19.3 bn by 2025 end, thanks to a notable 7.5% CAGR. Among the various drug class segments in the market, the Epoetin alfa is expected to lead growth in total revenues. The segment caters to chronic illnesses such as cancer chemotherapy and renal failure. The erythropoietin drugs market in North America is also expected to register robust growth. The region is witnessing increasingly favorable reimbursement environment, and rise in approvals related to erythropoietin drugs.
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Anemia Promises Lucrative Opportunities in the Erythropoietin Drugs Market
According to the National Center for Biotechnology Information, Anemia affects nearly 5.6% of the US population. Due to poor outcomes in most health treatment, anemia is considered a benchmark for understanding public health. Additionally, the elderly population, at high risk of Anemia is on the rise globally. Moreover, anemia also results as a side-effect of prominent cancer chemotherapy treatment. Anemia also impacts people suffering from other chronic illnesses such as HIV. Furthermore, cancer and HIV incidences are on the rise globally. Hence, rise in anemic population, rise in chronic illnesses, and growing cost-effective availability of erythropoietin drugs are expected to create lucrative opportunities. Due to the growing influx of generic drugs, erythropoietin drugs market revenues are expected to face restraints but still, grow considerably during the forecast period.
Biosimilars to Lead Growth in the Erythropoietin Drugs Market
The erythropoietin drugs market is divided into biologics and biosimilars. Among these, the biologic erythropoietin drugs were prevalent in the market in 2016, accounting for a dominant share. The biologic erythropoietin drugs are expected to continue their growth, thanks to the long expiry periods. The long expiry periods provide a much-needed leeway for distribution agents and manufacturers to earn significant revenues on each unit. This is likely to drive significant growth in the erythropoietin drugs market, despite the relatively average lower prices of biosimilars.
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Additionally, distribution channel wise, the hospital pharmacies are expected to dominate the erythropoietin drugs market in the near future. The other distribution channels like retail pharmacies, and online pharmacies are also expected to register healthy growth. The online pharmacy segment is expected to register the fastest growth due to its increasing reach, and cost-efficiency. Chronic illnesses and subsequent limited movements are also expected to propel the online pharmacy segment in the erythropoietin drugs market.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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