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Erythropoietin (EPO) Market Analysis & Growth Insights 2024-2033
Erythropoietin (EPO) Market Analysis
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According to The Business Research Company's, The erythropoietin (epo) market size has grown rapidly in recent years. It will grow from $17.29 billion in 2023 to $19.25 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to patient education and awareness, pharmaceutical industry consolidation, healthcare reimbursement policies, market expansion and demand growth, patent expiration and biosimilar entry.
The erythropoietin (epo) market size is expected to see rapid growth in the next few years. It will grow to $30.92 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to market competition and biosimilar impact, disease prevalence projections, healthcare policy and reimbursement changes, emerging markets growth, clinical trials and research focus. Major trends in the forecast period include supply chain management, global expansion and emerging markets, patient education and awareness, reimbursement policies, market consolidation and mergers.
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Market Drivers and Trends:
The rising incidence of chronic kidney diseases is anticipated to propel the demand for the erythropoietin market over the coming years. The growing cases of chronic kidney disease require erythropoietin administration, which is used to make red blood cells to improve immunity. For instance, in March 2021, according to the Centers for Disease Control and Prevention's report published on chronic kidney disease in the United States, 15% of the adults in the USA, or 37 million people, were estimated to have chronic kidney disease (CKD). People aged 65 or older are more likely to have CKD (38%), followed by those aged 45-64 (13%), and those aged 18-44 (7%).Chronic kidney diseases lead to an anaemic condition, which in turn increases the demand for erythropoietin to curb the condition, thereby driving the market revenues.
Major companies operating in the erythropoietin market are developing innovative products such as Varenzin-CA1 to mark their position in the market. Varenzin-CA1 (molidustat oral suspension) is a conditionally approved drug by the FDA for the control of nonregenerative anemia associated with chronic kidney disease (CKD) in cats. For instance, in May 2023, Elanco, a US-based pharmaceutical company received FDA approval for Varenzin-CA1. It is developed exclusively for cats and features a mode of action that induces the genetic transcription of erythropoietin (EPO), increasing both EPO and red blood cell production in a cat's body. Varenzin-CA1 is a breakthrough innovation that meets at-home convenience and sets a new standard of care for cats suffering from nonregenerative anemia due to CKD.
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Major Key Players of the Market:
BASF SE, Hoffmann-La Roche AG, Merck Sharp & Dohme LLC, Sanofi SA, Thermo Fisher Scientific Inc., Associated British Foods plc, DuPont de Nemours Inc., Kerry Group plc, Firmenich SA, Koninklijke DSM NV, Dyadic International Inc., Novozymes A/S, Endo International plc, Chr Hansen Holding A/S, Advanced Enzyme Technologies Ltd., Catalyst Pharmaceuticals Inc., Codexis Inc., AB Enzymes GmbH, Brain Biotech AG, Biocatalysts Ltd., Xike Biotechnology Co. Ltd., Amano Enzyme Inc., Enzyme Development Corporation, Lumis Biotech Pvt. Ltd., Teknisk-Kemiske Laboratorium ApS, Creative Enzymes Co. Ltd., BioResource International Inc., Enzyme Bioscience Pvt. Ltd., Sunson Industry Group Co. Ltd.
Erythropoietin (EPO) Market 2024 Key Insights:
• The erythropoietin (epo) market size is expected to see rapid growth in the next few years. It will grow to $30.92 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%.
• Erythropoietin Market Gains Momentum Amid Rising Incidence Of Chronic Kidney Diseases
• Elanco's Varenzin-Ca1 Revolutionizes Anemia Treatment For Cats With Chronic Kidney Disease
• North America was the largest region in the erythropoietin (EPO) market in 2023
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