Erythropoietin Drugs Market Booming with 5.7% CAGR | AMR

PORTLAND, OREGON, UNITED STATES, June 17, 2024 /EINPresswire.com/ -- 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.

Rise in trends of commercialization for erythropoietin biosimilars, readily available reimbursements, favorable government regulations, and increase in level of awareness regarding benefits of EPO therapeutics boost growth of the erythropoietin drugs market.

Rise in prevalence of cancer, HIV, anemia, and kidney diseases, surge in level of awareness about the benefits of EPO therapeutics, and commercialization for erythropoietin biosimilars drive the growth of the global erythropoietin drugs market. However, longer duration of treatment, unaffordability of therapeutics, and adverse amount of side effects hinder the market growth. On the contrary, the commercialization of darbepoetin alfa biosimilar and achieving economies of scale across developed regions are expected to open lucrative opportunities for the market players in the future.

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The epoetin-alfa segment held the lion’s share in 2020, accounting for more than two-fifths of the market. However, the darbepoetin-alfa segment is estimated to register the highest CAGR of 7.0% during the forecast period.

Factors affecting the growth of the Erythropoietin Drugs Market:

Chronic Kidney Disease (CKD): CKD is a major cause of anemia, leading to increased use of EPO drugs to manage anemia in these patients.
Cancer: Chemotherapy-induced anemia is commonly treated with EPO drugs.
HIV/AIDS: HIV patients may experience anemia as a side effect of antiretroviral therapy, increasing the demand for EPO.
Development of Biosimilars: The introduction of EPO biosimilars, which are more cost-effective than original biologics, has expanded market accessibility and growth.
Innovations in Drug Delivery: Improvements in EPO drug formulations and delivery mechanisms enhance patient compliance and outcomes.
Cost of Treatment: The high cost of original EPO drugs can be a barrier; however, biosimilars offer more affordable options.
Healthcare Reimbursements: Favorable reimbursement policies for EPO drugs in various regions enhance market growth.

Economic Factors:

Cost of Treatment: The high cost of original EPO drugs can be a barrier; however, biosimilars offer more affordable options.

Healthcare Reimbursements: Favorable reimbursement policies for EPO drugs in various regions enhance market growth.

Market Segmentation:

By PRODUCTS:

Epoetin-alfa
Epoetin-beta
Darbepoetin-alfa
Others

By APPLICATIONS:

Hematology
Kidney Disorder
Cancer
Others

By GEOGRAPHY:

North America
Europe
Asia-Pacific
LAMEA

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Regional Growth Dynamics:

The global erythropoietin drugs market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for more than one-third of the market. However, the market across Asia-Pacific is projected to register the highest CAGR of 7.8% from 2021 to 2028.

Competitive Landscape:

Johnson & Johnson,
Amgen Inc.
Roche
Hospira Inc.
Biocon
LG Life Sciences Ltd.
Teva Pharmaceutical Industries Ltd.
Intas Pharmaceuticals
Ranbaxy Laboratories Ltd.
Celltrion, Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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