(MENAFN- EIN Presswire) Erythropoietin Drugs market by 2030
Erythropoietin drugs market size was valued at $9,243.12 million in 2020, and is projected to reach $14,414.59 million by 2028, registering a CAGR of 5.7%
PORTLAND, OREGON, UNITED STATES, April 21, 2023 /einpresswire.com / -- Erythropoietin (EPO) drugs are medications that stimulate the production of red blood cells in the body. These drugs are commonly used to treat anemia caused by chronic kidney disease, cancer, or other conditions that affect the body's ability to produce red blood cells.
As per the report published by Allied Market Research, the global erythropoietin drugs market was pegged at $9.24 billion in 2020, and is estimated to reach $14.41 billion by 2028, growing at a CAGR of 5.7% from 2021 to 2028.
The erythropoietin drugs market refers to the industry that produces and sells these medications. The market is driven by factors such as increasing prevalence of anemia and chronic kidney disease, growing geriatric population, and rising awareness about these drugs among healthcare professionals.
EPO drugs are typically administered via injection and are available in different forms, including biosimilars, which are similar versions of the original drug that have been approved for use by regulatory agencies.
The market for erythropoietin drugs is expected to continue to grow in the coming years, as more people are diagnosed with anemia and chronic kidney disease, and as new biosimilars enter the market. However, the market also faces challenges such as increasing competition and regulatory pressures.
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Covid-19 scenario:
The outbreak of Covid-19 disrupted the workflow in the healthcare sector as the rapid spread of coronavirus forced several industries to shutdown temporarily.
However, the pandemic had a positive effect on the demand for medical services including erythropoietin.
As erythropoietin is used to treat anemia and can be effective against Covid-19, which boosted its demand. Moreover, it has anti-ischemic, anti-apoptotic, and regenerative effects in several tissues such as kidney, lungs, nervous system, retina, and pancreas. Thus, it can be used to treat critically ill patients.
The erythropoietin (EPO) drugs market can be segmented based on the type of drug, mode of administration, and application.
Based on the type of drug, the market can be divided into biosimilars and biologics. Biosimilars are similar versions of the original drug, while biologics are drugs made from living cells or organisms.
Based on the mode of administration, the market can be segmented into intravenous (IV) and subcutaneous (SC) injections.
Based on the application, the market can be segmented into chronic kidney disease, cancer, HIV, and others. Chronic kidney disease is the largest application segment for EPO drugs, as these drugs are commonly used to treat anemia associated with kidney disease.
Geographically, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions are further segmented based on country, which can provide a more detailed analysis of the market.
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The top 10 companies in the Erythropoietin (EPO) drugs market are:
Amgen Inc.
Johnson & Johnson
Roche Holdings AG
Pfizer Inc.
Novartis AG
Teva Pharmaceutical Industries Ltd.
Biocon Ltd.
Celltrion Inc.
Hospira Inc. (Pfizer)
LG Life Sciences Ltd.
These companies are major players in the EPO drugs market and account for a significant share of the market. They are involved in the production, development, and distribution of EPO drugs, and are expected to continue to be key players in the market in the coming years.
Key Findings Of The Study:
On the basis of product, the epoetin-alfa held largest share in the global erythropoietin drugs market in 2020.
On the basis of application, the kidney disorders held the largest erythropoietin drugs market share in 2020, and is expected to remain dominant throughout the forecast period.
By region, North America is expected to experience growth at the highest rate, during the forecast period.
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North America dominates the global erythropoietin drugs market, owing to presence of several approved and commercialized erythropoietin biosimilars. However, Asia-Pacific is characterized by presence of generic epoetin products. Asia-Pacific and LAMEA offer promising growth opportunities for erythropoietin manufacturers as these regions are less explored for erythropoietin drugs as compared to North America and Europe.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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