Cost-effectiveness of Biosimilar Drugs to Push Growth of the Renal Anemia Treatment Market
Pharmaceutical Companies are Focusing on Research and Development of Novel Products
Multinational pharmaceutical companies that develop drugs for renal anemia treatment will play an important role in improving access to quality care in the developing countries. Pharmaceutical companies in the field of renal anemia treatment have reported strong financial results in the past few years. For instance, Novartis’ Binocrit used for renal anemia treatment has recorded significant growth in revenue in the last few years. The company expects that the revenue from the product will increase further in the coming years. Increasing number of pharmaceutical companies and increasing research and development with the aim of developing novel drugs for renal anemia treatment will contribute towards the growth of the concerned market during the forecast period.
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Unlocking Potential for Biosimilar Medicine for Renal Anemia Treatment
Biologics will play a significant role in the renal anemia treatment care market across the globe. The emergence of biologics and growing demand for biosimilar medicines across the world will create new opportunities for the players operating in the renal anemia treatment market. Biosimilar drugs are a cost-effective method of renal anemia treatment. They also allow for greater patient access, which will further push the growth of the renal anemia treatment market during the forecast period. FDA approval for various biosimilars for renal anemia treatment in the past few years will lead to huge benefits for patients suffering from renal anemia. For instance, in 2018, FDA approved epoetin alfa-epbx (Retacrit) manufactured by Hospira, Inc, as a biosimilar to epoetin alfa (Epogen/Procrit) for the treatment of renal anemia caused by chronic kidney diseases.
Collaboration among Key Pharmaceutical Industries to Develop Novel Drugs for Renal Anemia Treatment
Despite the many advancements in biomedical research and healthcare systems, the global healthcare burden is increasing globally. In order to meet healthcare challenges and develop novel drugs for renal anemia treatment, various pharmaceutical industries have developed a new business model to increase profitability and decrease cost of failure. New collaborative models within the pharmaceutical industry will further help to reshape the research and development of drugs for renal anemia treatment. Over the years, the strategy of mergers, acquisitions and collaborations within the pharmaceutical industry has continued to grow and has paved way for the development of drugs for renal anemia treatment. Open collaborations and new business models, such as joint ventures between pharmaceutical companies and other external entities, will push pharmaceutical research by facilitating partnerships involving academia and the public and private sector.
Renal anemia occurs when the body has fewer red blood cells than normal. In case of anemia, red blood cells carry less oxygen than required to tissues and organs, especially to heart and brain. Anemia is a frequent complication caused in patients suffering from chronic kidney disease and occurs in more than 90% of patients receiving renal replacement therapy. Anemia of chronic kidney disease is caused by a decrease in erythropoietin production and anemia tends to get worse as the chronic kidney disease progresses.
About the Report
PMR conducted a research study on renal anemia treatment market for the forecast period 2018 to 2026. The renal anemia treatment market report offers a comprehensive evaluation of the business opportunities prevailing in the renal anemia treatment market along with insights on prevalence of renal anemia in top countries. The global report on renal anemia treatment also explains the key regulations for drug approval and pipeline assessment. The report on renal anemia treatment also elaborates on the macroeconomic factors influencing the dynamics of renal anemia treatment market and its futuristic potential.
The report offers a comprehensive taxonomy of renal anemia treatment market based on product type, route of administration, distribution channel and end user and region. Product types covered under the current research scope of report include iron supplements and erythrocyte stimulating agents. The erythrocyte stimulating agents segment is further segmented into epoetin alfa, epoetin beta and darbepoetin alfa. By route of administration, the renal anemia treatment market is classified into oral and parenteral. The global renal anemia treatment market report has been segmented by distribution channels into hospitals pharmacies, retail pharmacies and mail order pharmacies. The renal anemia treatment market has been analyzed across regions of North America, Latin America, Europe, Asia-Pacific excluding China, China and Middle East and Africa.
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To estimate the market size of renal anemia treatment market, we followed an epidemiology based approach. Following are some of the steps we followed to calculate base year market size of renal anemia treatment market. Initially, we studied the prevalence of diseases in top 20 countries to analyze the potential patient population seeking renal anemia treatment. The prevalence of renal anemia among adult population in different countries was analyzed through in-depth secondary research. Culmination of secondary and primary research helped in zeroing on treatment seeking rates for renal anemia among the potential patient population in different countries. The process for this included primary interviews with nephrologists and nurses across leading hospitals in each of these 20 countries. The annual cost for renal anemia treatment was also validated through primary research.