Erythropoietin Drug Market Outlook, Trend Analytics and Forecast to 2023
Market Scope:
The large cases of ESRD has caused a surge of anemia among patients and portended to fuel the demand for erythropoietin drugs. Approval of Epogen and commercialization of the drug as early as 2016 has facilitated market growth. Rise of chemotherapy as a part of cancer treatment can bode well for the market. High incidence of various cancers will be a favorable catalyst for the overall market. The utilization of the drug for treatment of hematology and neurology can affect the industry over the forecast period.
The global Erythropoietin Drug Market Trends is set to accumulate high revenues at 9.5% CAGR during the forecast period. Large number of patients suffering from anemia, HIV, and end stage renal disease (ESRD) is the primary driver of the market. The hormone is produced in a synthetic form via recombinant technology into darbepoietin alfa, epoetin alfa, epoetin omega, and others. According to the National Institute of Diabetes Digestive and Kidney Diseases (NIDDK), close to 661,000 people were diagnosed with chronic kidney disease. This can fuel the demand for EPO drugs in the market.
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However, high costs of the treatment and adverse effects of erythropoietin can hamper market growth
Key Players:
· Amgen
· Bioco
· Biosidus
· Boehringer Ingelheim
· Celltrion Inc
· Dahua Pharmaceutical
· Emcure Pharmaceuticals
· Hoffmann-La Roche.
Segmentation:
· The global erythropoietin drug market is segmented by type of product, application, and end user.
· By type, it is segmented into biosimilars, first generation formulation, and second generation formulation. The biosimilar segment is expected to generate massive revenue for the global erythropoietin drug market owing to the expiration of patented drugs by major pharmaceutical companies. Low cost of therapeutics in developing economies of APAC and MEA will facilitate segment growth.
· By application, it is segmented into HIV, oncology, renal diseases, and others.
· On the basis of end user, it is divided into hospital and pharmacy. The pharmacy can be the biggest end user in the global erythropoietin drug market owing to having a large distribution network and being able to provide drugs to anemic patients at ease.
Regional Analysis:
The global erythropoietin drug market, by region, covers North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
North America will lead the market followed by Europe. The large number of patients affected by cancer and huge number of renal disease patients will drive the North America erythropoietin drug market. Favorable reimbursement schemes introduced for HIV treatment can bode well for the market. Acquisitions of small drug manufacturers by prominent companies are being noticed in the region for a better cap on drug prices. Government initiatives and funding for research and development may bolster the market demand.
APAC has assumed the third position, while MEA may contribute the lowest to the market. APAC can be lucrative for the global market owing to the large patient pool and the growing healthcare sector in China and India. Presence of various contract research organizations can fuel the demand for erythropoietin and its subsequent export to developed countries.
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