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Erythropoietin Drugs Market Update 2023: Revenue to Cross USD 14.41 Billion 2028 | CAGR of 5.7%
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Drivers of growth: The growth of the market is driven by factors such as the increasing prevalence of chronic kidney diseases, the rise in the number of cancer patients undergoing chemotherapy, and the growing geriatric population.
Types of erythropoietin drugs: The two major types of erythropoietin drugs are biosimilars and biologics. Biosimilars are expected to dominate the market due to their cost-effectiveness compared to biologics.
Application areas: Erythropoietin drugs are primarily used in the treatment of anemia caused by chronic kidney disease, cancer, and other diseases. They are also used to reduce the need for blood transfusions during surgeries.
Regional analysis: North America held the largest share of the market in 2020, followed by Europe and Asia Pacific. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period.
Market Segmentation:
On the basis product type, epoetin-alfa segment is anticipated to grow with the highest revenue throughout the forecast period, owing to increase in sales of Epogen, which is the top selling brand of erythropoietin, developed by Amgen. Epogen indicated notable growth in the U.S. market as Amgen procured patent protection for this product.
By application, the kidney disorders (ESRD and Dialysis) segment accounted for a major share in 2020, and is expected to exhibit a prominent growth rate during the forecast period, owing to increase in cases of patients with kidney disease. Furthermore, ESRD is majorly responsible for prescription of EPO treatment among renal disease patients.
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Competitive Landscape:
AMGEN INC.
JOHNSON AND JOHNSON
ROCHE DIAGNOSTICS
HOSPIRA INC.
LG LIFE SCIENCES LTD.
BIOCON
INTAS PHARMACEUTICALS
TEVA PHARMACEUTICAL INDUSTRIES LTD.
RANBAXY LABORATORIES LTD.
CELLTRION, INC
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