Erythropoietin Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: April 06, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 10.18 billion |
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Revenue Forecast in 2031 |
US$ 19.65 billion |
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CAGR |
7.6% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Drug Class, Indication, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global erythropoietin drugs market was valued at US$ 10.18 billion in 2022 and is expected to register a revenue CAGR of 7.6% to reach US$ 19.65 billion by 2031.
Erythropoietin Drugs Market Fundamentals
Erythropoietin drugs are synthetic versions of erythropoietin, a hormone produced by the kidneys that stimulate red blood cell production in the bone marrow. These drugs treat anemia caused by chronic kidney disease, cancer, HIV treatment, chemotherapy, and other conditions that affect red blood cell production. Erythropoietin drugs are typically administered by injection under the skin or into a vein and are available under various brand names, including epoetin-alfa, darbepoetin-alfa, and biosimilar versions. These drugs work by stimulating the production of red blood cells, which helps to improve oxygen delivery to the tissues and reduce anemia symptoms, such as fatigue and weakness.
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Erythropoietin Drugs Market Dynamics
Erythropoietin drugs are also used to treat anemia associated with cancer chemotherapy. As cancer incidence continues to rise globally, the demand for erythropoietin drugs is expected to increase. For instance, according to the WHO's February 2022 factsheet, cancer is one of the leading causes of death, which caused nearly 10 million deaths in 2020 or almost one in six deaths. Erythropoietin drugs are commonly used to treat anemia associated with chronic kidney disease, affecting millions worldwide. The growing incidence of chronic kidney disease will also fuel the global erythropoietin drugs market revenue. Moreover, developing innovative medication administration methods such as prefilled syringes and autoinjectors will likely improve patient compliance and convenience, further driving the demand for erythropoietin drugs. Healthcare expenditure is rising globally, particularly in developing countries, which is expected to increase demand for erythropoietin drugs as more people access healthcare.
However, erythropoietin drugs are often expensive, particularly for long-term use. This can limit access to these drugs, particularly in developing countries with limited healthcare budgets. Moreover, erythropoietin drugs can cause a range of adverse side effects, including blood clots, hypertension, and seizures. This can limit their use, particularly in patients with a high risk of these side effects. Additionally, the emergence of biosimilars, alternative treatment options, and stringent regulatory requirements in developed countries are some of the restraints impeding the overall market growth.
Erythropoietin Drugs Market Ecosystem
The global erythropoietin drugs market is analyzed from four perspectives: drug class, indication, distribution channel, and region.
Erythropoietin Drugs Market by Drug Class
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Based on the drug class, the global erythropoietin drugs market is segmented into epoetin-alfa, epoetin-beta, darbepoetin-alfa, and others.
The epoetin-alfa segment dominated the market with the largest revenue share in 2022. Epoetin-alfa is a biosynthetic form of the hormone erythropoietin, which stimulates the production of red blood cells in the body. It treats anemia associated with chronic kidney disease, cancer chemotherapy, and other conditions. The drug works by stimulating the production of red blood cells, which helps to improve oxygen delivery to the body's tissues and reduce the symptoms of anemia, such as fatigue and weakness. Epoetin-alfa is typically administered by injection, either subcutaneously or intravenously. Epoetin-alfa is marketed under several brand names, including Epogen, Procrit, and Eprex. These factors contribute to the revenue growth of the epoetin-alfa segment.
The darbepoetin-alfa is expected to be the fastest-growing segment during the forecast period, attributed to its advantages over other drugs, such as a longer half-life. Darbepoetin-alfa is also a synthetic form of erythropoietin, a hormone produced by the kidneys that stimulate red blood cell production in the bone marrow. Darbepoetin-alfa is available under various brand names, including Aranesp and Nespo. It is similar to epoetin-alfa but has a longer half-life in the body, meaning it can be administered less frequently. It works by stimulating the production of red blood cells, which helps to improve oxygen delivery to the body's tissues and reduce the symptoms of anemia, such as fatigue and weakness. The drug is often used as an alternative to epoetin-alfa in certain patient populations, such as those with chronic kidney disease undergoing dialysis. These factors contribute to the revenue growth of the darbepoetin-alfa segment.
Erythropoietin Drugs Market by Indication
Based on the indication, the global erythropoietin drugs market is segmented into chronic kidney disease, chemo-induced anemia, and others.
The chronic kidney disease segment dominated the market with the largest revenue share in 2022, owing to the rising prevalence of kidney diseases. For instance, according to the Centers for Disease Control and Prevention factsheet of July 2022, more than 1 in 7 individuals suffer from chronic kidney diseases, 15% of US adults or 37 million people. Chronic kidney disease is a common condition that affects the functioning of the kidneys. One of the complications of chronic kidney disease is anemia, which occurs when the kidneys cannot produce enough erythropoietin to stimulate the production of red blood cells. Erythropoietin drugs, including epoetin-alfa and darbepoetin-alfa, commonly treat anemia in chronic kidney disease patients. By stimulating the production of red blood cells, these drugs can help alleviate anemia symptoms, such as fatigue and weakness. These overall factors contribute to the revenue growth of the chronic kidney disease segment.
Similarly, chemo-induced anemia also accounted for a prominent market revenue share. Chemo-induced anemia is a common side effect of chemotherapy treatment for cancer. Chemotherapy can damage bone marrow cells that produce red blood cells, decreasing hemoglobin levels and anemia. Chemo-induced anemia can cause fatigue, weakness, shortness of breath, and other symptoms that can impact the quality of life of cancer patients. Erythropoietin drugs are a treatment option for chemo-induced anemia, as they can stimulate the production of red blood cells and improve hemoglobin levels in the blood.
Erythropoietin Drugs Market by Distribution Channel
Based on the distribution channel, the global erythropoietin drugs market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacy segment is a key player in the erythropoietin drugs market, with the largest revenue share in 2022. Hospital pharmacists have specialized training in the use of medications, including erythropoietin drugs, and can guide healthcare providers and patients on the proper use, dosing, and administration of these drugs. Additionally, hospital pharmacies can often deliver erythropoietin drugs quickly to patients who need them. Besides, hospital pharmacies are typically located within hospitals, so patients who experience adverse reactions to erythropoietin drugs or other medications can receive prompt medical attention if needed. They work closely with healthcare providers to ensure that patients receive coordinated and comprehensive care. This includes communicating with physicians, nurses, and other healthcare providers to ensure that erythropoietin and other medications are prescribed appropriately and that patients are monitored for potential adverse effects. Hospital pharmacies may also participate in research and development activities related to erythropoietin drugs and other medications. This can help to advance the understanding of these drugs and improve treatment options for patients with anemia and other related conditions. These overall factors contribute to the revenue growth of the hospital pharmacy segment.
Online pharmacy is expected to be the fastest-growing segment during the forecast period. Online pharmacies offer the convenience of ordering drugs from the comfort of one's home. They often provide home delivery services, which is especially important for patients who have difficulty traveling to physical pharmacies. As internet access becomes more widespread, more patients are turning to online pharmacies as a convenient and accessible option for purchasing drugs, including erythropoietin drugs. Online pharmacies often offer lower prices than physical pharmacies, which can be especially important for patients needing to take erythropoietin drugs over an extended period. Erythropoietin drugs are considered specialty drugs, often difficult to find at physical pharmacies. Online pharmacies, on the other hand, tend to have a wider selection of specialty drugs, making them an attractive option for patients who need erythropoietin drugs. These overall factors contribute to the revenue growth of the online pharmacy segment.
Erythropoietin Drugs Market by Region
Geographically, the global erythropoietin drugs market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global erythropoietin drugs market with the largest revenue share in 2022, owing to a well-established healthcare system and a high prevalence of chronic kidney disease, cancer, and other diseases that can cause anemia, which creates a high demand for erythropoietin drugs. Additionally, companies across the region are continuously involved in partnerships, mergers, and acquisitions to develop new and novel drugs for treating chronic kidney disease and chemo-induced anemia, which is also expected to improve the erythropoietin drugs market outlook.
During the forecast period, the Asia Pacific region is the fastest-growing erythropoietin medication market, with India and China leading the way. This is due to major players and a large senior population. India has the world's greatest frequency of anemia, followed by China. Furthermore, governments and big businesses always spend on research and development initiatives to create novel treatment approaches.
Competitive Landscape of the Global Erythropoietin Drugs Market
The prominent players operating in the global erythropoietin drugs market are:
Strategic Developments in Erythropoietin Drugs Market
Erythropoietin drugs are synthetic versions of erythropoietin, a hormone produced by the kidneys that stimulate red blood cell production in the bone marrow.
The expected size of the global erythropoietin drugs market in 2031 is US$ 19.65 billion.
The revenue CAGR of the erythropoietin drugs market during the forecast period is expected to be 7.6% from 2023 to 2031.
The emergence of biosimilars, alternative treatment options, and stringent regulatory requirements in developed countries restrict global market revenue growth to its full potential.
Some prominent players operating in the global erythropoietin drugs market are Johnson & Johnson Services, Inc., Teva Pharmaceutical Industries Ltd., Intas Pharmaceuticals Ltd., Dr. Reddy's Laboratories Ltd., and Sun Pharmaceutical Industries Ltd.
*Insights on financial performance are subject to the availability of information in the public domain