The growing prevalence of chronic diseases such as end-stage renal diseases, cancer, HIV, and neurological diseases is enhancing the growth of the erythropoietin drug market. The product pipeline for EPO drugs only includes biosimilar products. The biosimilars segment is anticipated to witness huge growth over the forecast period due to the expiry of major patented drugs in the U.S. Furthermore, numerous therapeutic benefits are associated with recombinant human erythropoietin, which are anticipated to enhance the growth of the market.
Data Bridge Market Research shows that the Global Erythropoietin (EPO) Drugs Market, which was USD 6.50 billion in 2021, is expected to reach USD 16.09 billion by 2029, at a CAGR of 12% during the forecast period 2023 to 2029.
" Increasing Demand of Biosimilars Surge the Market Growth"
Biosimilars are in higher demand globally, especially in the U.S. region, which is increasing market growth. The European and APAC markets already have a greater penetration of biosimilars. Many major erythropoietin drugs whose patents expire during the forecast include Mircera (PEG-EPO) and Aranesp (darbepoetin). Thus, the patent expiration of drugs like these opens new opportunities for biosimilar manufacturers to manufacture and commercialize their products. Thus, this factor boosts market growth.
What restraints the growth of the Global Erythropoietin (EPO) Drugs Market?
" Adverse Effects of Erythropoietin (EPO) Drugs"
Numerous adverse effects are related to erythropoietin drugs. For instance, the Japanese Registry of Dialysis study indicated a nearly 20% higher mortality risk in patients receiving long-acting erythropoiesis-stimulating agents treatment compared to short-acting erythropoiesis-stimulating agents. Auxiliary use of erythropoiesis-stimulating agents can increase blood viscosity, increasing the risk of myocardial infarction and ischemic stroke. This works as a restraint to the market. All these major factors impede the growth of the market.
Segmentation: Global Erythropoietin (EPO) Drugs Market
The global erythropoietin (EPO) drugs market is segmented on the basis of drug type, drugs, indication, end-user, distribution channel.
- On the basis of drug type, the erythropoietin (EPO) drugs market is segmented into biologics, biosimilars.
- Based on the drugs, the erythropoietin (EPO) drugs market is segmented into epoetin-alfa, darbepoetin-alfa, epoetin-beta, others.
- Based on the indication, the erythropoietin (EPO) drugs market is segmented into cancer, neurology, hematology, renal diseases, others
- Based on the end-user, the erythropoietin (EPO) drugs market is segmented into hospitals, homecare, speciality centres, others
- Based on the distribution channel, the erythropoietin (EPO) drugs market is segmented into hospital pharmacy, online pharmacy, retail pharmacy
Regional Insights: North America is expected to dominate the Global Erythropoietin (EPO) Drugs Market
North America dominates the market due to the rise in the prevalence of cancer and advanced healthcare facilities. The regional market is expected to hugely benefit from local organizations actively engaged in developing the development and use of erythropoietin drugs.
Asia-Pacific is expected to grow in the forecast period of 2023-2029 to the presence of major market players and different strategic initiatives they undertake to develop new erythropoietin drug products to treat anemia patients. For instance, Wanbang Biopharma received approval for Yi Bao (Human Erythropoietin Injection) from NMPA (National Medical Products Administration) in 2021.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-erythropoietin-epo-drugs-market
Recent Developments in Global Erythropoietin (EPO) Drugs Market
- In 2022, Dong-A ST entered a strategic agreement with Polifarma for the DA-3880 NESP biosimilar. Under this agreement, Polifarma achieved the right to commercialize and develop DA-3880 in Brazil, Mexico, and Turkey
The Prominent Key Players Operating in the Global Erythropoietin (EPO) Drugs Market Include:
- Pfizer Inc (U.S.)
- AstraZeneca (U.K.)
- Bristol-Myers Squibb Company (U.S.)
- Dr. Reddy's Laboratories Ltd (India)
- Endo International plc (Ireland)
- Teva Pharmaceutical Industries Ltd (Israel)
- Sun Pharmaceutical Industries Ltd (India)
- Mylan N.V. (U.S.)
- Novartis AG (Switzerland)
- Lupin (India)
- Cipla Inc (India)
- Shanghai Dahua Pharmaceutical Co., Ltd (China)
- JCR Pharmaceuticals Co., Ltd (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of global erythropoietin (EPO) drugs market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Erythropoietin (EPO) Drugs Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
