Erythropoietin Drugs Market 2023 | Share, Size, Growth and Forecast Till 2028

IMARC Group's report titled "Erythropoietin Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", 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.

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Factors Affecting the Growth of the Erythropoietin Drugs Industry:

• Rising Prevalence of Anemia:

The escalating demand for erythropoietin drugs due to the rising prevalence of anemia among individuals is bolstering the growth of the market. In line with this, anemia is a medical condition characterized by a deficiency of red blood cells or haemoglobin, leading to fatigue, weakness, and other health complications. Furthermore, erythropoietin drugs stimulate the production of red blood cells, alleviating anemia-related symptoms. In addition, iron deficiency can be caused by poor dietary habits or malabsorption. Erythropoietin drugs address these multifaceted anemia cases among individuals, which is impelling the market growth.  

• Increasing Geriatric Population:

The growing adoption of erythropoietin drugs among the geriatric population, as they are more prone to anemia, is offering a positive market outlook. Apart from this, age-related anemia often results from factors like reduced bone marrow function and the prevalence of chronic diseases. Moreover, key players are focusing on developing high-quality erythropoietin drugs for catering to the specific needs of older patients and mitigating age-related anemia effectively, which is propelling the market growth. Besides this, erythropoietin drugs offer an effective solution to manage anemia, helping seniors maintain their vitality and overall well-being.   

• Advancements in Biotechnology:

Innovations are leading to the development of newer and more efficient erythropoietin drugs and providing enhanced treatment options for patients. These drugs have longer-lasting effects, reduce side effects, and improve dosing regimens. Besides this, biotechnology enables the production of biosimilar erythropoietin drugs, which are highly similar to the original biologic products. These biosimilars offer cost-effective alternatives, increasing accessibility for patients and healthcare systems. In addition, biotechnology plays a vital role in the discovery of novel biomarkers and diagnostic tools for anemia, aiding in early diagnosis and personalized treatment plans.

Leading Companies Operating in the Global Erythropoietin Drugs Industry:

• Amgen Inc.
• Biocon Limited
• Reddy’s Laboratories Ltd.
• Hoffmann-La Roche AG
• Intas Pharmaceuticals Ltd.
• Johnson & Johnson
• LG Chem Ltd.
• Pfizer Inc.
• Sun Pharmaceutical Industries Limited
• Teva Pharmaceutical Industries Ltd.

Erythropoietin Drugs Market Report Segmentation:

By Drug Class:

• Biologics
• Biosimilars

Biologics represented the largest segment due to its ability to mimic the action of natural erythropoietin, stimulating the production of red blood cells in the body.    

By Product Type:

• Epoetin-alfa
• Epoetin-beta
• Darbepoetin-alfa
• Others

Epoetin-alfa accounted for the largest market share, which can be accredited to the reduced need for blood transfusions.

By Application:

• Hematology
• Kidney Disorder
• Cancer
• Others

Kidney disorder exhibits a clear dominance in the market on account of the rising focus on improving the overall well-being of patients.            

By End User:

• Hospitals
• Homecare
• Specialty Clinics
• Others

Hospitals hold the biggest market share as their ability to ensure timely and accurate diagnosis, prescription, and administration of erythropoietin drugs.  

Regional Insights:

• 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

North America enjoys the leading position in the erythropoietin drugs market, which can be attributed to the presence of advanced healthcare infrastructure.  

Global Erythropoietin Drugs Market Trends:

The increasing incidence of chronic kidney disease (CKD) among individuals worldwide is supporting the growth of the market. In line with this, people with CKD, especially those undergoing dialysis, frequently experience anemia due to impaired kidney function. Erythropoietin drugs stimulate red blood cell production and improve the quality of life of patients suffering from CKD.

The rising number of hospitals and clinics across the globe is contributing to the market growth. Apart from this, this expansion improves access to healthcare services among individuals suffering from various diseases.

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