The global erythropoietin drugs market size is expected to reach USD 17.4 billion by 2025, according to a new report by Grand View Research, Inc. The industry is projected to advance at a substantial CAGR of 11.5% over the forecast period. Erythropoietin (EPO) is a growth factor that is produced in the kidneys, which stimulates red blood cell (RBC) production in the bone marrow. Thus, the major functions of EPO include promoting RBC development, and initiating hemoglobin synthesis. Rising incidence of chronic diseases such as CKD (chronic kidney disease) and cancer resulting in anemia is a major growth driver of this market. According to the statistics published by the National Heart, Lung, and Blood Institute of the U.S. Department of Health & Human Services, over 3 million people are affected by anemia every year and this number is expected to increase over the forecast period. This highlights the need for erythropoietin-stimulating agents in the coming years.
Besides kidney-related disorders, the high prevalence of other life-threatening diseases such as cancer and HIV is expected to positively shape the EPO drugs industry over the forecast period. Introduction of novel drugs and their cheaper biosimilar formulations with enhanced efficacy and cost-effectiveness is also expected to offer expansive growth opportunities for market growth. For instance, development of numerous biosimilars in the European market is expected to gain traction and increase their usage rates, owing to associated benefits such as less time required for approval, cost-efficiency, and enhanced therapeutic effect. Companies are involved in extensive R&D initiatives for development of innovative molecules and discovering new therapeutic areas for existing drugs, which has created a positive environment for industry growth. Additionally, patent expiration of major biologics in recent years, such as that of Amgen’s patent for Epogen in 2015, has created numerous opportunities for the entry of erythropoietin biosimilars in the market.
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Erythropoietin Drugs Market Report Highlights
• According to the NIDDK, the overall prevalence of CKD in the general population is around 14 percent, while more than 661,000 Americans suffer from kidney failure, which is expected to be a key factor for the growth of the EPO drugs market moving ahead
• In terms of product, Epoetin-alfa held the largest share in the erythropoietin drugs market, owing to its early introduction in the U.S. market and patent protection; this was the first biologic to be approved by the U.S. FDA for the treatment of anemia resulting from CKD, cancer chemotherapy, and HIV treatment
• Epoetin-omega and epoetin-zeta are anticipated to exhibit lucrative growth over the forecast period owing to associated benefits such as longer half-life and enhanced therapeutic effects
• The Asia Pacific regional industry for erythropoietin-stimulating agents is expected to witness lucrative CAGR during the forecast period; the continued rise in the incidence of chronic diseases coupled with high demand for low-cost therapeutics has accelerated the regional industry advancement
• The COVID-19 pandemic has led to extensive efforts by researchers into developing an effective vaccine to combat the virus. In July 2020, researchers at the Max Planck Institute of Experimental Medicine in Göttingen carried out studies that indicated a positive role of EPO in mitigating the disease progression; favorable outcomes may lead to accelerated growth of the erythropoietin drugs industry in the near future
•Industry participants are focusing on the discovery of new therapeutic areas for existing drugs and development of cost-effective biosimilars, thereby increasing R&D activities for the development of erythropoietin drugs
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Erythropoietin Drugs Market Segmentation
Grand View Research has segmented the erythropoietin (EPO) drugs market on the basis of the drug class, product, application, and region:
Erythropoietin Drugs Drug class Outlook (Revenue, USD Million, 2014 – 2025)
Erythropoietin Drugs Product Outlook (Revenue, USD Million, 2014 – 2025)
Erythropoietin Drugs Application Outlook (Revenue, USD Million, 2014 – 2025)
• Renal Diseases
Erythropoietin Drugs Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company based in India and the US, and headquartered in San Francisco. The organization offers syndicated and customized research reports in 46 industries across key regional markets, such as the US, Canada, Latin America, Europe, and Asia Pacific, among others.
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