The increasing incidences of end stage renal diseases and advancements in technologies for treating anemic conditions by EPO are expected to provide opportunities for the erythropoietin market growth.
Erythropoietin is considered as the primary RBCs regulator. It essentially is a glycoprotein and is known to promote bone marrow stem cells. Also, it is a regular moderator of hemoglobin synthesis and overall red blood cells concentration.
Health conditions that arise from cancer, post-chemotherapy, kidney failures etc lead to anemia casing severe loss of RBCs. The erythropoietin drug is used to boost the levels of RBCs in the bone marrow and save millions of lives. This is the key reason boosting the global erythropoietin market growth.
As a result of the tremendous market boost, the global erythropoietin market is projected to hit USD 8.9 Billion by 2028 with an annual increase of 11.20% CAGR from 2021 to 2028. Erythropoietin supplementation is usually induced in a person’s body to quickly treat anemia resulting from the aforementioned health conditions. The Erythropoietin supplementation is usually administered in the bone marrow through injection.
The purpose of the erythropoietin drug is to boost the blood oxygen levels and eliminates the potential need for blood transfusions. The drug that is released from the bone marrow is ejected into the bloodstream and is classed as erythropoietin drug.
The current industry trends in the global erythropoietin market reflect that the erythropoietin market is attractive as the drug is experiencing increased demand in the market. Factors such as commercialization of erythropoietin drug, increased production and supply worldwide of the erythropoietin drug, reimbursements, government support, and increasing awareness regarding the benefits of erythropoietin supplementation are boosting the growth of global erythropoietin market.
Also, erythropoietin drug when induced using advanced technologies in the body and combined with other medical components offers faster recovery of RBCs, faster recovery, thus ensuring mega boost in return on investment to the erythropoietin drug manufacturers.
Adroit Market Research report on the global erythropoietin market renders a transparent and unbiased overview of the market, evaluating it from 2018 to 2028, with base year 2020, and forecast years 2021-2028. The market is studied in detailed covering the major industry trends and aspects such as drivers, restraints, opportunities, threats, as well challenges in individual segments and regions.
With advanced analytical tools and the best research practices such as SOT and PESTEL assessment, all segments and sub-segments have been studied in great detail. Apart from studying the key market dynamics and market aspects, the report gives a detailed coverage of the market players leading the market. The financial information of the market, key profiles, major events undertaken in recent years, new launches, market strategies and other crucial information are given to help market players understand their market players clearly and take appropriate decisions.
The erythropoietin drug developers and firms involved in erythropoietin production as well as researchers are taking dedicated efforts to develop the EPO. Many new firms in the market have got patents and are selling the EPO drugs. Also, companies are battling over receiving the EPO patents and therapies. They are pursuing various market strategies to beat the completion and make a strong foothold in global erythropoietin market. Many generic versions of the EPO are also introduced by the companies to ensure mass scale availability.
Depending upon the product type segment, the current industry trends denote the epoetin-alfa segment dominates the global erythropoietin market and is expected to gather favorable market share in the future years as well The key factors having a major influence on the market are usefulness of erythropoietin drug in treating anemic conditions caused form HIV, cancer, chemotherapy and more such conditions.
Based on application-based segmentation, the cancer segment is likely to dominate overall revenue cycles in the global erythropoietin supplementation market due to rising prevalence of end stage renal disease and growing demand for dialysis.
The key players who have brought landmark advances in the Erythropoietin market are Teva Pharmaceutical Industries, Roche, Ranbaxy Laboratories, Pfizer, LG Life Sciences, Johnson & Johnson, Intas, Celltrion, Biocon, and Amgen. The reputed players and new market to stay ahead of the competition and serve best to the people, are offering advanced therapeutics in erythropoietin supplementation. They are carrying out broader operations in Erythropoietin drug business segments.
Key Segments of the Global Erythropoietin Market
Product Type Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Kidney disorder
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa