LOS ANGELES, June 21, 2021 (GLOBE NEWSWIRE) -- The Global Erythropoietin Drugs Market is expected to grow at a CAGR of around 5.8% from 2020 to 2027 and reach the market value of over US$ 14.2 Bn by 2027.
North America takes a forefront lead in the global erythropoietin drugs market
Because of the rising prevalence of chronic diseases such as cancer, CKD, and HIV, North America accounted for a sizable share of erythropoietin drug sales in 2016. According to the Centers for Disease Control and Prevention (CDC), there are 1.2 million HIV-positive people in the United States, with 39,513 cases diagnosed in 2015. These statistics show the demand for EPO drugs over the forecast period. Furthermore, as biologics' patents expire, a slew of new players have entered the market in this region and are taking a variety of strategic steps to increase their revenue share. Teva Pharmaceutical Industries Ltd., for example, acquired Anda, Inc., a leading generics distributor in the United States, from Allergan, plc. in October 2016, thereby strengthening its distribution network.
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Asia Pacific, on the other hand, will have the fastest growing CAGR in the coming years. Increasing government initiatives in this region to provide better health amenities to the public is another factor contributing to market growth. For example, the Japanese government has passed a regulation that requires biosimilars to be priced at a 30% discount in comparison to making them available at subsidized prices to people from lower socioeconomic classes. Furthermore, Asia Pacific has sparked significant interest in many companies for the development of biosimilars and is known for producing more biosimilars than any other region on the planet.
Asia-Pacific is a promising market for erythropoietin growth, with the majority of erythropoietin originator companies focusing on the region. Because of the development of biosimilars by major manufacturers in these regions, the region has the largest share of the biosimilar industry. India and China are important markets for erythropoietin biosimilars.
Market Drivers
The high prevalence of cancer, HIV, and CKD in developing countries presents a significant opportunity for drug manufacturers to expand their presence in this market. The increased demand for low-cost therapeutics in developing countries such as Asia Pacific and the Middle East and Africa has prompted the development of biosimilars for EPOs in these regions. The increasing use of biosimilar EPOs is expected to drive the growth of the overall EPO market in the coming years.
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The rising prevalence of chronic diseases such as end-stage renal disease, cancer, and HIV is expected to drive up demand for EPO-stimulating agents, as these conditions can lead to anemia. The demand for Erythropoietin (EPO) drugs is expected to rise in the coming years in order to combat the rising incidence of anemia. The Erythropoietin (EPO) Drugs market is expected to grow during the forecast period due to driving factors such as an increase in the number of patients suffering from anemia, favorable reimbursements, increased commercialization of EPO biosimilars, and an increase in the incidence of chronic kidney diseases.
Market Restraint
Side effects of EPO, such as arterial hypertension, iron deficiency, and influenza-like syndrome, as well as the longer duration of EPO treatment (4-6 weeks), limits the growth of the erythropoietin drugs market.
Market Opportunity
The rise in commercialization trends for erythropoietin biosimilars, readily available reimbursements, favorable government regulations, and increased awareness about the benefits of EPO therapeutics all contribute to the growth of the erythropoietin drugs market.
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Segmental Analysis
The global erythropoietin drugs market is segmented as drug class, product, and application. The drug class is classified into biologics and biosimilars. Based on product, the market is segregated as epoetin-alfa, epoetin-beta, darbepoetin-alfa, and others. By application, the market is segmented as cancer, hematology, renal diseases, and neurology.
Some of the leading competitors are Johnson & Johnson, Celltrion, Teva Pharmaceutical Industries Ltd., Amgen, Inc., F. Hoffmann-La Roche Ltd, LG Life Sciences Ltd., Biocon Limited, and among others.
Some of the key observations regarding the erythropoietin drugs industry include:
- In March 2017, Johnson & Johnson announced receiving approval of a new product namely, "EPREX® (epoetin alfa)". The newly launched product is used for the treatment of symptomatic anaemia (haemoglobin concentration of ≤10 g/dL) in adults with low- or intermediate-1-risk primary myelodysplastic syndromes (MDS) who have low serum erythropoietin (<200 mU/mL).
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