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Darbepoetin Alfa (Aranesp) Market Trends & Growth Forecast 2024-2033
Darbepoetin Alfa (Aranesp) Market Trends
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According to The Business Research Company's, The darbepoetin alfa (aranesp) market size has grown strongly in recent years. It will grow from $5.56 billion in 2023 to $5.88 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to anemia treatment advancements, erythropoiesis-stimulating agents (esa) demand, biopharmaceutical innovation, clinical acceptance, improved patient outcomes.
The darbepoetin alfa (aranesp) market size is expected to see steady growth in the next few years. It will grow to $7.11 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to healthcare reimbursement policies, increased awareness and education, healthcare infrastructure development, renal care demands, aging population. Major trends in the forecast period include global market penetration, digital health integration, personalized treatment approaches, adoption of biosimilars, long-acting formulations.
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Market Drivers and Trends:
The increase in the prevalence of chronic diseases is expected to propel the growth of the darbepoetin alfa market going forward. A chronic disease is a form of illness that lasts three months or more and can deteriorate with time. Darbepoetin alfa is used to treat various chronic diseases, to reverse chemotherapy-induced anemia in cancer. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least one chronic condition would increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Therefore, an increase in the prevalence of chronic diseases is driving the growth of the darbepoetin alfa market.
Product innovations are a key trend gaining popularity in the darbepoetin alfa market. Major companies operating in the darbepoetin alfa market are adopting new technologies to sustain their position in the market. For instance, in February 2023, GlaxoSmithKline. Ltd, a UK-based pharmaceutical and biotechnology company, introduced the US Food and Drug Administration (FDA), a US-based government agency that approved Jesduvroq (daprodustat). Daprodustat, recombinant human erythropoietin (rhEPO, darbepoetin alfa or epoetin alfa), is an oral hypoxia-inducible factor prolyl hydroxylase inhibitor and is used once daily treatment of anemia brought on by chronic kidney disease (CKD) in people who have been on dialysis for at least four months.
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Major Key Players of the Market:
Johnson & Johnson, Amgen Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., Serum Institute of India Pvt. Ltd., Dr. Reddy's Laboratories Ltd., Cipla Ltd., Biocon Ltd., Reliance Life Sciences, Torrent Pharmaceuticals Ltd., 3SBio Inc., Cadila Healthcare Ltd., Dong-A ST Co. Ltd., Chong Kun Dang Holdings, Hetero Drugs Ltd., Intas Pharmaceuticals Ltd., Avesthagen Pharma, Stada Arzneimittel AG, Ranbaxy Laboratories Ltd., Sandoz International GmbH, Shandong Kexing Bioproducts Co. Ltd., Iko Pharmaceutical Co. Ltd., Menagen Pharmaceutical Industries, Kyowa Kirin Co. Ltd., Polifarma S.p.A.
Darbepoetin Alfa (Aranesp) Market 2024 Key Insights:
• The darbepoetin alfa (aranesp) market size is expected to see steady growth in the next few years. It will grow to $7.11 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.
• Rising Chronic Disease Burden Fuels Growth In Darbepoetin Alfa Market
• Oral Darbepoetin Alfa Alternative Fuels Innovation In Chronic Anemia Treatment
• North America was the largest region in the darbepoetin alfa market in 2023
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