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Epoetin Alfa Therapeutics Market to See Incredible Growth During 2017 - 2025
Human erythropoietin is mostly produced by kidneys. It usually stimulates the human bone marrow to produce red blood cells. Inadequate production of human erythropoietin could lead to severe anemia. Epoetin alfa is an artificially made human erythropoietin. Developed by recombinant DNA technology, epoetin alfa acts as a catalyst to stimulate human erythropoietin production. Epoetin alfa is used to treat severe anemia, various neurological diseases, and cancer. It lowers the requirements of blood transfusion.
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The global epoetin alfa therapeutics market is driven by high prevalence of anemia and neurological abnormalities, high diagnosis and treatment rate of cancer and anemia, favorable medical reimbursements, and strong health care infrastructure. High R&D investments and technological advancements are projected to propel the global epoetin alfa therapeutics market in the near future. However, side effects associated with epoetin alfa therapy such as joint pain, itching, headache, cough, rash, and nausea are anticipated to act as restraints of the global epoetin alfa therapy market during the forecast period.
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Epoetin alfa therapy is mostly used to treat anemia and several types of cancer. According to a research published in the Current Treatment Options in Neurology, epoetin alfa has shown positive results in the treatment of traumatic brain injury, subarachnoid hemorrhage, and stroke. In terms of application, the global epoetin alfa therapeutics market can be segmented into anemia, cancer, neurology, and others. Based on route of administration, epoetin alfa therapeutics market can be classified into subcutaneous and intravenous. In terms of distribution channel, the global epoetin alfa therapeutics market has been divided into hospital pharmacies, retail pharmacies, drug stores and others.
Geographically, the global epoetin alfa therapeutics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. A ten-year study on prevalence of anemia in the U.S. revealed that 3% to 5% of the U.S. population suffered from anemia in 2016. Prevalence of anemia in Europe was estimated at 6% to 7% in 2016. Moreover, a significant population of these two regions suffer from cancer and neurological disorders. High prevalence of anemia, neurological disorders, and cancer, high treatment cost, availability of medical reimbursement, well-established medical infrastructure, and technological advancements drive the epoetin alfa therapeutics market in North America and Europe. Asia Pacific is expected to account for the third largest share of the epoetin alfa therapeutics market. However, epoetin alfa therapeutics market in the region is anticipated to expand at the highest growth rate during the forecast period. This is attributed to large population, market penetration of epoetin alfa products, and technological developments. Furthermore, highest percentage of population suffer from anemia in Africa; more than 10% of the population of the region suffered from anemia in 2016. High prevalence of anemia, low awareness, lack of treatment of anemia, and unavailability of epoetin alfa products in Africa are the major factors that restrain epoetin alfa therapeutics market in Middle East & Africa.
Key players in the global epoetin alfa therapeutics market include Amgen, Inc., and Janssen Products, LP (a Johnson and Johnson Company).
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