According to the latest report by IMARC Group, titled “Erythropoietin Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global erythropoietin drugs market size reached US$ 9.8 Billion in 2021. Erythropoietin (EPO) is a hormone produced naturally by kidneys to stimulate the production of red blood cells (RBCs) in the body. Its deficiency or excess leads to severe medical conditions, such as low hemoglobin levels and kidney diseases. EPO drugs, also known as haematopoietin, are injectable drugs used to cure anemia and increase RBC production. They are widely used to treat anemic conditions caused by chronic renal disease, cancer treatment, myelodysplasia, medicine side effects, and surgery. They also help reduce infections in acquired immune deficiency syndrome (AIDS) and pre-operative blood transfusion. EPO drugs mimic the naturally occurring erythropoietin and stimulate the bone marrow to produce more RBCs.
Erythropoietin Drugs Market Trends:
The widespread prevalence of chronic diseases, such as cancer, AIDS, and kidney problems, is one of the primary factors driving the market growth. EPO drugs are widely used to treat anemic conditions induced by end-stage renal disease (ESRD), antiretroviral treatments (ART), chemotherapy, radiotherapy, and other cancer treatments. In addition to this, rising product utilization to treat critically ill patients owing to its anti-ischemic, anti-apoptotic, and regenerative effects in various tissues, such as lungs, kidneys, nervous system, pancreas, and retina, is acting as another growth-inducing factor. Furthermore, the rapid commercialization of highly efficient biosimilars, which are easy to switch, cost-effective, and require less approval time, is providing an impetus to the market growth. In line with this, the widespread product application in chemotherapy cycles, along with the increasing incidences of end-stage renal diseases (dialysis), is favoring the market growth. Additionally, the recent repurposing of EPO drugs for treating diabetes mellitus (DM) due to its cytoprotective effect that enhances cardiac function, reduces fatigue, and improves cognition in DM patients is positively influencing the market growth. Moreover, the implementation of various government initiatives to incentivize research on chronic diseases through grants, drug exclusivity, fee waivers, and tax credits is propelling the market growth. Other factors, including rising awareness regarding the benefits of EPO therapeutics, the increasing geriatric population in need of surgical procedures, and rising strategic collaborations among drug manufacturers due to high return on investment (ROI), are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 13.8 Billion by 2027, exhibiting a CAGR of 5.75% during 2022-2027.
- On the basis of drug class, the market has been bifurcated into biologics and biosimilars.
- Based on the product type, the market has been classified into epoetin-alfa, epoetin-beta, darbepoetin-alfa, and others.
- On the basis of the application, the market has been divided into hematology, kidney disorder, cancer, and others.
- Based on the end user, the market has been classified hospitals, homecare, specialty clinics, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Amgen Inc., Biocon Limited, Dr. Reddy’s Laboratories Ltd., F. Hoffmann-La Roche AG, Intas Pharmaceuticals Ltd., Johnson & Johnson, LG Chem Ltd., Pfizer Inc., Sun Pharmaceutical Industries Limited and Teva Pharmaceutical Industries Ltd.
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