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 from USD 10.56 Billion in 2023 to USD
19.97 Billion by 2030 at a CAGR of 11.2% during the forecast period 2023-2030.
The
most significant market driving factor for the global erythropoietin drug
market growth is the increasing prevalence of diseases like cancer and various
renal diseases. The increasing investment in medical research & development
(R&D) and introduction of new drugs are also carrying forward the market
growth. Noth just new drugs but the market is also getting strong due to the
introduction of several new erythropoietin drug combinations. Other factors
contributing to the global erythropoietin drug market growth include different
government initiatives for research and a wider pool of patients being covered
due to the introduction of new drug combinations.
Key Players
the
global erythropoietin
drug market players are 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, 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
drug market insight 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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