Erythropoietin, also known as hemotopoietin, is a hormone produced by the kidneys for the continuous production of red blood cells. They are used in the treatment of diseases such as anemia, AIDS, cancer, and others. The global erythropoietin drug market report by Market Research Future (MRFR) has been compiled after undertaking painstaking primary and secondary research. Predictions and projections outlined in the report for the period of 2018 to 2023 (forecast period) are based on current trends, historical events, and technological breakthroughs.
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Market Scope
The global erythropoietin drug market 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.
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.
However, high costs of the treatment and adverse effects of erythropoietin can hamper market growth.
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.
Competitive Outlook
Emcure Pharmaceuticals, 3SBio, Intas Pharmaceuticals, Johnson & Johnson, Boehringer Ingelheim, Hospira, Dahua Pharmaceutical, Teva Pharmaceutical Industries Ltd., Kyowa Hakko Kirin, Amgen, Biocon, Celltrion, Inc., LG Life Sciences Ltd., BIOSIDUS, and Hoffmann-La Roche are some of the notable players profiled in the global erythropoietin drug market.
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It is a glycoprotein hormone that controls erythropoiesis or production of RBC.
Moreover, introduction of new drugs and different government initiatives for research fuels the market growth during the forecast period.Global erythropoietin drug market is growing with the rapid pace.
According to a recent study report published by the Market Research Future, global erythropoietin drug market is booming and expected to gain prominence over the forecast period.
The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).Global erythropoietin drug market is expected to grow at a CAGR of 9.5% during forecasted period.Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/1360Erythropoietin Drug Market Key PlayersThe global erythropoietin drug market is observed to be growing rapidly owing to increasing developments of key players like Hoffmann-La Roche (Switzerland), Johnson & Johnson (US), Amgen (US), Kyowa Hakko Kirin, Intas Pharmaceuticals (India), Teva Pharmaceutical Industries Ltd. (Israel), Biocon (India), Emcure Pharmaceuticals (India), Celltrion, Inc. (South Korea), Hospira (US), Dahua Pharmaceutical (China), LG Life Sciences Ltd. (Korea), 3SBio, Boehringer Ingelheim (US), BIOSIDUS (Argentina).Erythropoietin Drug Market SegmentationGlobal erythropoietin drug market is segmented on the basis of type of product into biosimilars, first generation formulation and second generation formulation.
On the basis of application market is segmented as oncology, renal diseases, HIV and other and on the basis of end user they are segmented into hospital and pharmacy.Erythropoietin Drug Market Regional AnalysisNorth America has the largest market share in global erythropoietin drug market owing to the increasing population of people suffering from cancer and renal diseases.
Erythropoietin drug market in Europe is growing owing to the development of numerous biosimilars which in turn increases the frequency of their usage.
The global Erythropoietin Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the erythropoietin market include Amgen Inc., Johnson & Johnson, Hospira Inc., Roche, LG Life Sciences Ltd., Biocon, Intas Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Ranbaxy Laboratories Ltd., and Celltrion, Inc.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Erythropoietin Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/erythropoietin-market/download-sampleMarket DynamicsThe key factors driving the erythropoietin drug market are the increasing occurrence of anemia owing to chronic diseases such as cancer, HIV, and end-stage renal disease, increasing prevalence of ART-induced anemia, and growing demand for biologic and biosimilar drugs.
Anaemia is a severe global public health condition that predominantly affects elders, young children, and pregnant women.
Favorable reimbursement policies, fast erythropoietin drug approvals, substantial investment by the government for R activities to manufacture the drug, and increasing awareness about EPO are other factors that propel erythropoietin drug market growth.
