Market Overview
Also
known as hematopoietin, erythropoietin drug is defined as a glycoprotein
hormone that controls erythropoiesis. Erythropoiesis is defined as the
production of red blood cells (RBC). A new report on the global erythropoietin drug
market size is projected to grow at a CAGR of 11.2% during the forecast
period 2023-2032.
The
Erythropoietin drug market has witnessed significant growth over the years,
driven primarily by the increasing prevalence of chronic kidney disease and
cancer-related anemia. Erythropoietin
stimulating agents (ESAs) play a crucial role in this market, serving as a key
treatment option for managing anemia by stimulating the production of red blood
cells. The demand for ESAs is particularly high among patients undergoing
chemotherapy and those with end-stage renal disease who experience decreased
erythropoietin production. This segment of the market is expected to continue
expanding as the global population ages and the incidence of chronic diseases
rises.
However,
the Erythropoietin drug market also faces challenges, including patent
expirations of major brands, regulatory scrutiny regarding safety concerns such
as cardiovascular risks, and the emergence of biosimilars. Despite these
challenges, market players are focusing on strategic collaborations, product
innovations, and geographical expansion to maintain their competitive edge.
Additionally, the growing adoption of biosimilars presents opportunities for
cost-effective treatment options, particularly in developing regions where
access to expensive biologics is limited. Overall, while the Erythropoietin
drug market confronts various challenges, the increasing prevalence of
anemia-related conditions and ongoing research and development efforts are
expected to sustain its growth trajectory in the foreseeable future.
Key Players
The
global erythropoietin drug
companies 3SBio (China), Amgen (USA), Biocon (India), Biosidus
(Argentina), Boehringer Ingelheim (USA), Celltrion Inc. (South Korea), Dahua
Pharmaceutical (China), Emcure Pharmaceuticals (India), Hoffmann-La Roche
(Switzerland), Hospira (USA), Intas Pharmaceuticals (India), Johnson &
Johnson (USA), Kyowa Hakko Kirin (Japan), LG Life Sciences Ltd. (South Korea),
and Teva Pharmaceutical Industries Ltd. (Israel).
Market Segmentation
The
global erythropoietin drug market segmentation encompasses
application, end-user, and product type. MRFR’s take on the market surveys
various facets of the market in-depth.
The
application-based segmentation of this market covers the Human Immunodeficiency
Virus (HIV), oncology, renal diseases, epo medication and others. In
the context of end-user, the market has been segmented into hospital and
pharmacy. Regarding product type, the market has been segmented into
biosimilars, first-generation formulation, and second-generation formulation.
Regional Segmentation
A
geographical outlining of the global erythropoietin drugs market
covers North America, Europe, Asia Pacific, and the Middle East & Africa
(MEA).
North
America holds the largest share in the global market due to continuously
increasing number of the cancer patient, technological advancement in the
medical sector, availability of advanced medical services, governmental
initiatives for research, and patient suffering from renal diseases in North
America. USA and Canada generate maximum market revenue in this region. Some of
the key market players are based in the USA.
In
Europe, the market is growing primarily due to the same reasons as in North
America. Amendments in reimbursement policies and the growing healthcare sector
are also contributing to the market growth. Due to the availability of advanced
medical facilities, Western Europe is a bigger regional market than Eastern
Europe. The most powerful country-specific markets in Europe are France,
Germany, Italy, Spain, and the UK. An inspection of the remaining countries in
Western Europe featured in this report speculate the huge contribution to
market revenue from some other countries in this region with a sizable revenue
from Eastern Europe too.
During
the forecast period, the gains for Asia Pacific market can rise high, making it
the fastest-growing regional market. The factors benefitting the market growth
in this region are increased penetration of healthcare services and expanding
patient population in countries like China and India. Moreover, the increased
government effort to improve healthcare in these countries is creating new
growth opportunities for the market. Other important country-specific markets
in this region are Australia, Japan, and South Korea. An analysis of the
remaining countries in the Asia Pacific region featured in this report
estimates the huge contribution to market revenue from some other countries.
The
MEA region holds the lowest share in the global market due to poor medical
facilities and lack of skilled professionals.
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