According to a market report, published by Sheer Analytics and Insights, The global erythropoietin drugs market was valued at $10.1 billion in 2021 and it is expected to reach $33.4 billion at a CAGR of 11.30% between 2022 and 2032. A hormone called erythropoietin is mostly made by the kidneys and aids in the creation of red blood cells, which transport oxygen from the lungs to the rest of the body. Injectable erythropoietin medications are used to treat anemia and other conditions of this nature. The market for erythropoietin (EPO) drugs is also predicted to expand over the forecast period as a result of growth-promoting factors such as an increase in the number of anemia patients and favorable reimbursements. The enormous demand for EPO medications has been mostly driven by rising rates of ESRD, HIV, and cancer. However, the commercialization of EPO biosimilars would ultimately lessen the impact of restrictions and spur market expansion, particularly in emerging nations. 3 million people in the United States suffer from anemia each year, and over the projected period, this figure is anticipated to rise, according to a report released by the National Heart, Lung, and Blood Institute of the U.S. Department of Health & Human Services. Hence, these primary factors are estimated to accelerate market growth during the forecast period.
Companies engage in major R&D projects aimed at creating novel compounds and identifying fresh therapeutic applications for already available medications. The main driver of the erythropoietin market's growth is the rise in anemic conditions caused by chemotherapy, antiretroviral therapy, and end-stage renal disease treatment. As a result, the demand for EPO has increased due to an increase in the number of chemotherapy treatment cycles and an increase in the incidence of end-stage renal disease. Major pharmaceutical companies like Amgen, Novartis, and Pfizer have developed erythropoietin biosimilars, causing a substantial shift in the market for erythropoietin medications from reference pharmaceuticals to biosimilars.
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Moreover, Europe has a huge patient base, an established healthcare infrastructure, and a better reimbursement environment, making it the world's largest market for erythropoietin medications. Pharmaceutical firms keep releasing biosimilars in the area to compete with the standard treatments. On the other hand, the Asia-Pacific area is home to the fastest-growing erythropoietin medication market, with nations like China and India experiencing profitable expansion. China and India are the two countries with the greatest anemia prevalence rates worldwide.
On the other side, the use of erythropoietin-containing medications is connected with several side effects. For instance, the Japanese Registry of Dialysis study found that patients getting long-acting erythropoiesis-stimulating agent treatment have a 20% higher chance of dying from any cause than that receiving short-acting erythropoiesis-stimulating agent treatment. Along with this, one of the main reasons impeding market expansion, particularly in developing and undeveloped nations, is the rising cost of erythropoietin medications. Therefore, these primary factors would hamper the erythropoietin drugs market globally at a certain period in the future.
Some new developments in the global erythropoietin drugs market:
- On 7th March, 2022, The Drug Controller General of India has approved Zydus Lifesciences' New Drug Application for Oxemia, the country's first oral therapy for anemia brought on by chronic renal disease.
- On 18th October, 2022, for sickle cell disease, roxadustat from FibroGen and AstraZeneca shows potential. Currently, there are only two therapy options available to a patient with beta thalassemia or sickle cell disease—genetic conditions that impair the blood protein hemoglobin in red blood cells. They can either treat the disease's numerous lifetime symptoms with medication or get a bone marrow transplant to treat it.
- On 26th October, 2022, With a CAGR of 5.7%, the U.S. will account for more than 35% of the global demand for erythropoietin drugs in 2028. An increase in the prevalence of anemic diseases brought on by chemotherapy, antiretroviral medication, and treatments for end-stage renal disease. As a result, the demand for EPO has increased due to an increase in the number of chemotherapy treatment cycles and an increase in the incidence of end-stage renal disease.
According to the study, key players dominating the global erythropoietin drugs market are 3SBio (China), Amgen (U.S), Biocon (India), Cipla (India), Celltrion (South Korea), Dragon Pharma (U.S), Emcure (India), Galenica (Switzerland), Intas Pharmaceuticals (India), Johnson and Johnson (U.S), Kirin Holdings (Japan), LG Corp (South Korea), Nidda Healthcare Holding (Germany), Novartis (Switzerland), Pfizer (U.S), Roche Holding (Switzerland), Sihuan Pharmaceuticals (China), Sun Pharmaceuticals (India), Teva Pharmaceuticals (Israel), Uni-Bio Group (Hong Kong), among others.
Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/erythropoietin-drugs-market-21
The Global Erythropoietin Drugs Market Has Been Segmented Into:
The Global Erythropoietin Drugs Market – by Drug Type:
- Biologics
- Biosimilar
- Others
The Global Erythropoietin Drugs Market – by Application Type:
- Hematology
- Cancer
- Renal Diseases
- Neurology
- Others
The Global Erythropoietin Drugs Market – by Regions:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- Australia
- Rest of Asia Pacific
- LAMEA
- Middle East
- Saudi Arabia
- UAE
- Others
- Latin America
- Brazil
- Chile
- Others
- Africa
- South Africa
- Egypt
- Others
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