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The latest report by IMARC, titled “ ErythropoietinDrugsMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast 2023-2028
” " the global erythropoietin drugs market size reached US$ 10.4 Billion in 2022.
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.
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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 endstage 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$ 14.5 Billion by 2028, exhibiting a CAGR of 5.65% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
DrugClassInsights:
• Biologics
• Biosimilars
ProductTypeInsights:
• Epoetin-alfa
• Epoetin-beta
• Darbepoetin-alfa
• Others
ApplicationInsights:
• Hematology
• Kidney Disorder
• Cancer
• Others
End-UserInsights:
• Hospitals
• Homecare
• Specialty Clinics
• Others
RegionalInsights:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• Amgen Inc
• Biocon Limited
• Dr. Reddys Laboratories Ltd.
• F. Hoffmann-La Roche AG
• Intas Pharmaceuticals Ltd.
• Johnson & Johnson
• LG Chem Ltd.
• Pfizer Inc.
• Sun Pharmaceutical Industries Limited
• Teva Pharmaceutical Industries Ltd.
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