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Erythropoietin Drugs Market Size (US$ 14.5 Billion) | Industry Growth Report 2023-2028
What Are The Growth Prospects Of The erythropoietin drugs Industry?
According to the report, The global erythropoietin drugs market size reached US$ 10.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.65% during 2023-2028.
What are erythropoietin drugs?
Erythropoietin (EPO) or hematopoietin is produced by the kidneys and is responsible for stimulating the production of red blood cells (RBCs) in the body. A deficiency of EPO can lead to low levels of hemoglobin and several medical conditions. As a result, there is a growing demand for EPO drugs, which are also known as EPO stimulating agents (ESAs) and are produced artificially using recombinant deoxyribonucleic acid (DNA) technology. They are typically administered intramuscularly and released into the bloodstream to trigger the production of RBCs. Owing to these properties, erythropoietin drugs are utilized in varying dosages and delivery modes across home care, specialty clinics, and hospitals across the globe.
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What are the growth prospects and trends in the erythropoietin drugs industry?
The market is primarily driven by the increasing incidences of chronic diseases such as cancer, neurological disorders, acquired immunodeficiency syndrome (AIDS), and kidney problems. In addition, the increasing product application to treat anemic conditions induced by end-stage renal disease (ESRD), antiretroviral treatments (ART), chemotherapy, and radiotherapy is contributing to the market growth. Moreover, various governments are taking initiatives to incentivize research on chronic diseases by providing grants, drug exclusivity, tax credits, and fee waivers to create novel erythropoietin drug products representing another major growth-inducing factor. Besides this, the widespread adoption of EPO to treat critically ill patients due to their anti-apoptotic, anti-ischemic, and regenerative effects in various tissues, such as the nervous system, lungs, kidneys, pancreas, and retina, is accelerating the product adoption rate. Furthermore, the surging demand for EPO in chemotherapy cycles, the increasing prevalence of end-stage renal diseases (dialysis), and the recent repurposing of EPO drugs for treating diabetes mellitus (DM) are also creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Drug Class:
Biologics
Biosimilars
Breakup by Product Type:
Epoetin-alfa
Epoetin-beta
Darbepoetin-alfa
Others
Breakup by Application:
Hematology
Kidney Disorder
Cancer
Others
Breakup by End User:
Hospitals
Homecare
Specialty Clinics
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Amgen Inc.
Biocon Limited
Dr. Reddy's Laboratories Ltd.
F. Hoffmann-La Roche AG
Intas Pharmaceuticals Ltd.
Johnson & Johnson
LG Chem Ltd.
Pfizer Inc.
Sun Pharmaceutical Industries Limited
Teva Pharmaceutical Industries Ltd.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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