Erythropoietin Drugs Market CAGR Projected to Grow Through 2022-2028 | Amgen, GlaxoSmithKline, Pfizer, Johnson & Johnson

Erythropoietin Drugs Market

Market Overview:

Erythropoietin alfa is a drug that is widely used to treat anemia. It increase the red blood cells count in the body.

Competitive Landscape:

Amgen, GlaxoSmithKline, Pfizer, Johnson & Johnson, Novartis, Biocon, Ranbaxy Laboratories and Teva Pharmaceutical ltd.

Key Drivers

Increasing prevalence of anemia is a prime factor driving growth of the erythropoietin drugs market. Anemia is a serious global public health problem that particularly affects young children and pregnant women. World Health Organization estimates that 42% of children less than 5 years of age and 40% of pregnant women worldwide are anemic.

Growing development of biosimilar drug is again expected to foster market growth. Increasing healthcare expenditure is also anticipated to propel market growth.

Acquire Sample Report + All Related Tables & Graphs Study Now @ https://www.coherentmarketinsights.com/insight/request-sample/214

Covid-19 Impact Analysis

Covid-19 pandemic has negatively impacted the production, development, and supply of medical products require for anemia medications businesses of various companies. COVID 19 pandemic has led to unprecedented lockdown across the globe which has led to the shutdown of industrial establishments and disruption in supply chain of the pharmaceutical products

Europe leads the market and Asia Pacific will witness significant growth

Europe is the largest market for erythropoietin drugs market with large patient pool, developed healthcare infrastructure and better reimbursement scenario. The pharmaceutical companies continue to introduce biosimilar in the region to compete against the reference drugs. The drug approval process is less stringent as compared to North America which leads to fast approval of drugs. The mortality rate is 1.2 per 100,000 population for Anemia across Europe. North America is going to be an important market for the erythropoietin drugs industry as the drugs under clinical trials get approval from FDA and key drugs such as Epogen and Aranesp face patent expiration

Asia Pacific region is fastest growing erythropoietin drugs market, with countries such as India and China showing lucrative growth. India has the highest prevalence of anemia in the world followed by China. According to study conducted by Stanford University, an estimated180 million people suffer from Anemia in central and eastern China with the old age population more prone to it. The market of erythropoietin drugs will grow significantly as major pharmaceutical companies continue to expand the drug manufacturing process in countries such as India, China and Japan. Factors such as less stringent regulatory scenario and commercialization of erythropoietin biosimilars in the region will drive the market forward.

Get Full PDF Sample Copy of Report: (Including Full TOC, List of Tables& Figures, Chart) @ https://www.coherentmarketinsights.com/insight/request-pdf/214

Introduction of new erythropoietin biosimilar will intensify the market competition

The key players in the erythropoietin drugs market are Amgen, GlaxoSmithKline, Pfizer, Johnson & Johnson, Novartis, Biocon, Ranbaxy Laboratories and Teva Pharmaceutical ltd. Due to the high cost associated with the development of innovator drugs and the patent expiration of the first erythropoietin drug launched by Amgen, the major players in the market are introducing erythropoietin biosimilar in the market with major focus on darbepoietin alfa drug. Key biosimilar such as NuPIAO, KRN321, ErepoXen and JR-131 are present at various stages of clinical development. The market is consolidated in nature and the key pharmaceutical companies will aim to introduce erythropoietin drugs in under-penetrated markets such as India, China, Japan and U.S. to stay competitive in the market.

Key Takeaways:

1. Major market players in the market are involved in various growth strategies such as applying for regulatory approval from concerning authorities, in order to gain competitive edge in the global market. For instance, in August 2019, GlaxoSmithKline plc (GSK) filed submission for market approval of Japanese New Drug Application (JNDA) to the Ministry of Health, Labour, and Welfare for its dapordustat.

2. North America is expected to gain significant growth over the forecast period owing to the increasing launch of novel drug by key players. For instance, in February 2021, FDA has approved Pyrukynd (mitapivat) tablets to treat hemolytic anemia (a disorder in which red blood cells are destroyed faster than they can be made) in adults with pyruvate kinase (PK) deficiency.

Buy This Complete Business Report @ https://www.coherentmarketinsights.com/insight/buy-now/214

About US:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Contact Us:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

This release was published on openPR.