Erythropoietin Drug Market is Rising to Establish an Excellent CAGAR of 9.5% During Forecast to 2023
Market Overview:
The worldwide demand for erythropoietin drugs also referred as hematopoietin drugs is expected to remain strong in the forthcoming years. Market Research Future (MRFR) reports that the global erythropoietin drug market will post a above-average CAGR between 2017 and 2023. The outlook remains positive for the global erythropoietin drug market for the medium terms.
The most significant market driving factor fokr the global Erythropoietin Drug Market Dynamics 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.
Rising awareness among patients and increased focus on improving healthcare services in the developing countries is likely to open new growth avenues for market players in near future. On the other hand, most of the erythropoietin drug available are highly priced, which makes their penetration in price sensitive markets difficult. This is viewed as a major market constraint. Patient expiry and introduction of generic variants may provide an impetus to drug penetration. Focus is also shifting on developing alternative drugs formulations.
Key Players:
- 3SBio
- Amgen
- Bioco
- Biosidus
- Boehringer Ingelheim
- Celltrion Inc
- Dahua Pharmaceutical
- Emcure Pharmaceuticals
- Hoffmann-La Roche
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 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.
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