Acumen Research and Consulting recently published report titled “Erythropoietin Drugs Market and Region Forecast, 2022 - 2030”
LOS ANGELES, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The Global Erythropoietin Drugs Market Size accounted for USD 10.3 Billion in 2021 and is projected to achieve a market size of USD 17.1 Billion by 2030 rising at a CAGR of 5.8% from 2022 to 2030.
Erythropoietin Drugs Market Overview
Erythropoietin (EPO) drugs are a class of recombinant therapeutics that mimic the endogenous hormone erythropoietin, which regulates erythropoietin, or red blood cell production. EPO drugs are mainly used in the treatment of anemia, a condition characterized by a deficiency of red blood cells or hemoglobin, in patients with chronic kidney disease, cancer, or other conditions that cause anemia.
The global Erythropoietin drugs market size is expected to grow at a significant rate due to increasing incidence of anemia, particularly in the geriatric population, and growing adoption of EPO drugs in the treatment of cancer-induced anemia. the development of long-acting formulations of EPO drugs and increasing government support for the treatment of anemia are also expected to drive market growth.
Major driver of the EPO drugs market is the increasing prevalence of chronic kidney disease (CKD) worldwide. Anemia is a common complication of CKD, and EPO is a key treatment for this condition. The World Health Organization has stated that over 10% of the global population has CKD, and this number is projected to continue to rise in the coming years.
Recent studies have suggested that EPO may have anti-tumor effects and may be useful in the treatment of certain types of cancer. Recombinant EPO, which is produced using biotechnology techniques, has largely replaced the use of blood-derived EPO in clinical practice. Recombinant EPO is more consistent and reliable than blood-derived EPO, and has fewer risks of viral transmission.
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Erythropoietin Drugs Market Report Coverage:
| Market | Erythropoietin Drugs Market | |
| Erythropoietin Drugs Market Size 2021 | USD 10.3 Billion | |
| Erythropoietin Drugs Market Forecast 2030 | USD 17.1 Billion | |
| Erythropoietin Drugs Market CAGR During 2022 - 2030 | 5.8% | |
| Erythropoietin Drugs Market Analysis Period | 2018 - 2030 | |
| Erythropoietin Drugs Market Base Year | 2021 | |
| Erythropoietin Drugs Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Drug Class, By Product, By Application, And By Geography | |
| Erythropoietin Drugs Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Amgen, Inc., Biocon Limited, Celltrion, Inc., Dr. Reddy’s Laboratories Ltd., F. Hoffmann-La Roche Ltd., Intas Pharmaceuticals Ltd., Johnson & Johnson, LG Life Sciences Ltd., Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd. | |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Erythropoietin Drugs Market Research Report Highlights and Statistics
- The Global Erythropoietin Drugs Market size in 2021 stood at USD 10,300 Million and is set to reach USD 17,100 Million by 2030, growing at a CAGR of 5.8%
- The Erythropoietin market share is driven by factors like rising cases of chronic diseases, rising geriatric population, and growing awareness about the use of EPO drugs.
- The biologics erythropoietin segment is expected to dominate the market during the forecast period, this is due to patents being protected.
- North America is expected to hold the largest share of the market, due to the presence of a large number of patients suffering from chronic diseases and the presence of advanced healthcare infrastructure in place.
- Asia Pacific EPO drugs market share is expected to grow the fastest due to rapid and vast spendings in the region especially in countries like India and China.
- Key players in the market include Roche, Amgen, Johnson & Johnson, Pfizer, and Biocon.
Trends in the Erythropoietin Drugs Market Market
- Increasing demand for biosimilars: The market for erythropoietin drugs is witnessing a growing trend of biosimilars, which are cheaper alternatives to branded drugs. This is driven by the need to reduce healthcare costs and improve access to these drugs for patients.
- Advances in biotechnology and drug delivery systems: Advances in biotechnology are leading to the development of new erythropoietin drugs with improved efficacy and safety profiles. This is expected to drive the market growth in the future.
- Growing geriatric population: The aging population is more susceptible to developing chronic diseases, which is driving the demand for erythropoietin drugs.
- Growing awareness about anemia: The increasing awareness about anemia and its causes is driving the demand for erythropoietin drugs.
- Rising adoption of home-based administration: The rising adoption of home-based administration of erythropoietin drugs is driving the market growth as it is convenient and cost-effective.
Erythropoietin Drugs Market Dynamics
Increasing research and development activities: The growing research and development activities in the field of erythropoietin drugs are expected to lead to the development of new drugs and therapies, driving the market growth.
Growing adoption in emerging markets: The growing adoption of erythropoietin drugs in emerging markets is driving the market growth.
Increasing incidence of chronic diseases such as anemia, renal failure, and cancer, which require erythropoietin drugs for treatment.
Rising demand for erythropoietin drugs in sports doping and other performance-enhancing activities.
Government initiatives and overall increased spending in the the pharmaceutical industry.
Strategic collaborations, partnerships, and mergers and acquisitions among erythropoietin drug manufacturers, which are driving growth in the market.
Erythropoietin Drugs Market Growth Hampering Factors
- Stringent regulations and approval process by various government bodies can be a significant barrier for new companies trying to enter the market and can also delay the release of new drugs.
- Significantly high investment cost associated with research and development can make it difficult for smaller companies to compete with larger, more established companies.
- Erythropoietin drugs are primarily used to treat conditions such as anemia and cancer-related fatigue, which are relatively rare conditions. This can limit the potential market for these drugs and make it difficult for companies to recoup their investment in R&D.
- Side effects including blood clots and high blood pressure can make patients hesitant to use these drugs and can also lead to increased scrutiny from regulatory bodies.
- Competition from biosimilars as they are becoming increasingly common in the EPO drugs market and can make it difficult for companies to maintain their market share.
- Economic downturns: Hyperinflation and recession can lead to decreased healthcare spending and reduced demand for expensive drugs like Erythropoietin drugs, which can negatively impact the market.
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Market Segmentation
By Class of Drugs
- Biosimilars
- Biologics
By Product Type
- Epoetin-alfa
- Darbepoetin-alfa
- Epoetin-beta
- Others
By Application Type
- Cancer
- Renal diseases
- Hematology
- Neurology
Erythropoietin Drugs Market Overview by Region
- In North America, the Erythropoietin market share is driven by the increasing prevalence of anemia and cancer-related fatigue, as well as the growing number of patients with chronic kidney disease. Additionally, the region has a strong healthcare infrastructure and high healthcare spending, which further supports the growth of the market.
- In Europe, the Erythropoietin market share is also driven by the high number of anemia cases, and the increasing number of chronic kidney disease amongst patients. Europe has a well-established healthcare system and a high number of clinical trials being conducted for Erythropoietin drugs. This further supports the growth of the market in the region.
- In Asia-Pacific, the Erythropoietin drugs market share is expected to experience the fastest growth, driven by the rapidly increasing population and the high prevalence of anemia and cancer-related fatigue. Additionally, the region has a growing healthcare infrastructure and increasing healthcare spending, which further supports the growth of the market.
- In Latin America and the MEA region, the market is expected to experience moderate growth, driven by the increasing prevalence of anemia and cancer-related fatigue. However, the market is hindered by the lack of healthcare infrastructure and limited healthcare spending in some countries.
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Erythropoietin Drugs Market Key Players
Amgen, Roche, Johnson & Johnson, Novo Nordisk, Pfizer, Biocon, Dr. Reddy's Laboratories,
Teva Pharmaceutical Industries, Sandoz International GmbH (a subsidiary of Novartis),
Mylan N.V., BioXpress Therapeutics Inc, Intas Pharmaceuticals, Biogen, StemCells Inc,
Celltrion Inc., Hospira, Sandoz, Teva, AbbVie, Genentech, GlaxoSmithKline, Merck,
Samsung Bioepis, Celltrion, Bio-Therapeutic, Biotechpharma and Bioton.
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