Erythropoietin Drugs Market Update 2023: Revenue to Cross USD 14.41 Billion 2028 | CAGR of 5.7%

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. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

Drivers of growth: The growth of the market is driven by factors such as the increasing prevalence of chronic kidney diseases, the rise in the number of cancer patients undergoing chemotherapy, and the growing geriatric population.

Types of erythropoietin drugs: The two major types of erythropoietin drugs are biosimilars and biologics. Biosimilars are expected to dominate the market due to their cost-effectiveness compared to biologics.

Application areas: Erythropoietin drugs are primarily used in the treatment of anemia caused by chronic kidney disease, cancer, and other diseases. They are also used to reduce the need for blood transfusions during surgeries.

Regional analysis: North America held the largest share of the market in 2020, followed by Europe and Asia Pacific. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period.

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Market Segmentation:

On the basis product type, epoetin-alfa segment is anticipated to grow with the highest revenue throughout the forecast period, owing to increase in sales of Epogen, which is the top selling brand of erythropoietin, developed by Amgen. Epogen indicated notable growth in the U.S. market as Amgen procured patent protection for this product.

By application, the kidney disorders (ESRD and Dialysis) segment accounted for a major share in 2020, and is expected to exhibit a prominent growth rate during the forecast period, owing to increase in cases of patients with kidney disease. Furthermore, ESRD is majorly responsible for prescription of EPO treatment among renal disease patients.

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Regional Growth Dynamics:

North America dominates the global erythropoietin drugs market, owing to presence of several approved and commercialized erythropoietin biosimilars. However, Asia-Pacific is characterized by presence of generic epoetin products. Asia-Pacific and LAMEA offer promising growth opportunities for erythropoietin manufacturers as these regions are less explored for erythropoietin drugs as compared to North America and Europe.

Competitive Landscape:

• AMGEN INC.
• JOHNSON AND JOHNSON
• ROCHE DIAGNOSTICS
• HOSPIRA INC.
• LG LIFE SCIENCES LTD.
• BIOCON
• INTAS PHARMACEUTICALS
• TEVA PHARMACEUTICAL INDUSTRIES LTD.
• RANBAXY LABORATORIES LTD.
• CELLTRION, INC

Recent developments:

Emergence of new erythropoietin drugs in clinical trials: Several new erythropoietin drugs are currently in clinical trials, including methoxy polyethylene glycol-epoetin beta (CERA), peginesatide, and roxadustat. These drugs are being developed for the treatment of anemia associated with chronic kidney disease, cancer, and other conditions.

Growing focus on biosimilars: Pharmaceutical companies are increasingly focusing on developing biosimilar erythropoietin drugs, which are cheaper alternatives to the original biologic drugs. This is expected to drive the growth of the erythropoietin drugs market, particularly in emerging markets.

Increasing prevalence of chronic kidney disease: The increasing prevalence of chronic kidney disease, particularly in developing countries, is expected to drive the growth of the erythropoietin drugs market. According to the World Health Organization (WHO), an estimated 10% of the world’s population has chronic kidney disease.

Rising demand for erythropoietin drugs in cancer treatment: Erythropoietin drugs are increasingly being used for the treatment of anemia associated with cancer. The rising incidence of cancer worldwide is expected to drive the growth of the erythropoietin drugs market in the coming years.

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