Erythropoietin Drugs Market Size is Expected to Reach at USD 17.1 Billion by 2030, Registering a CAGR of 5.8%, Owing to Increasing Prevalence of Anemia and Chronic Diseases
The Global Erythropoietin Drugs Market Size is predicted to reach USD 17.1 Billion by 2030 from USD 10.3 Billion in 2021, at a CAGR of 5.8% between 2022 and 2030, as per the Acumen Research and Consulting
Erythropoietin (EPO) is a hormone that regulates the production of red blood cells in the body. It is primarily used to treat anemia, a condition characterized by a lack of red blood cells, which can result in fatigue, weakness, and difficulty breathing. EPO drugs are available in both natural and synthetic forms, with the synthetic version is more commonly used in medical treatments.
The global market for EPO drugs is expected to grow at a significant rate in the coming years. This is primarily due to the increasing incidence of anemia caused by chronic diseases such as cancer and kidney disease, as well as the growing popularity of endurance sports and the use of EPO as a performance-enhancing drug. Additionally, advances in biotechnology are expected to lead to the development of new, more effective forms of EPO, such as biosimilars, which are expected to drive market growth in the coming years.
Erythropoietin Drugs Market Statistics
- Global erythropoietin drugs market revenue collected USD 10.3 Billion in 2021, with a 5.8% CAGR between 2022 and 2030
- Europe erythropoietin drugs market value gathered more than USD 3.9 Billion in 2021
- By application, the renal disease category capture over 50% of total market share in 2021
- According to studies, 37 million Americans suffer from kidney illness
- Growing popularity of endurance sports, fuels the erythropoietin drugs market size
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Erythropoietin Drugs Market Trends
Erythropoietin (EPO) drugs are used to treat anemia, a condition in which the body does not produce enough red blood cells. EPO drugs stimulate the production of red blood cells by the bone marrow. They are commonly used to treat anemia caused by chronic kidney disease, cancer chemotherapy, and HIV/AIDS. The global EPO drugs market is expected to grow due to the increasing prevalence of anemia and chronic diseases, the growing geriatric population, and the increasing use of EPO drugs in sports and athletic performance enhancement. However, the market may be hindered by the high cost of treatment and the potential side effects of EPO drugs.
Increasing Incidence of Chronic Kidney Disease Drives the Erythropoietin Drugs Market Growth
The increasing incidence of chronic kidney disease (CKD) is a significant driver for the market growth of erythropoietin drugs. CKD is a condition in which the kidneys gradually lose function over time, and can lead to anemia, a condition in which the body does not have enough red blood cells to deliver oxygen to the body's tissues. According to the National Kidney Foundation, more than 37 million American adults have CKD, and that number is expected to increase as the population ages and the prevalence of risk factors such as diabetes and hypertension continues to rise.
Additionally, global statistics show that the number of people with CKD is increasing, with an estimated 850 million people worldwide affected by the condition in 2019, this number is expected to reach over 1 billion by 2040. Erythropoietin drugs are used to treat anemia caused by CKD, and as the incidence of CKD increases, the demand for these drugs also increases. This drives the market growth of erythropoietin drugs.
Erythropoietin Drugs Market Segmentation
Acumen Research and Consulting has segmented the global Erythropoietin Drugs market by product, drug class, and application.
- By product, the industry is categorized into darbepoetin-alfa, epoetin-beta, epoetin-alfa, and others.
- By drug class, the market is divided into biosimilars, and biologics.
- By application, the market is classified into neurology, cancer, renal diseases, and hematology.
Erythropoietin Drugs Market Regional Overview
The erythropoietin drugs market is divided into five geographic segments: North America, Europe, Asia-Pacific, Latin America, and the MEA. As per the erythropoietin drugs industry analysis, Europe is currently the dominant region in the global market. This growth is due to the presence of a large patient population and a well-established healthcare system. In Europe, the Erythropoietin drug market is driven by the high prevalence of anemia, particularly in the geriatric population. Additionally, the increasing use of Erythropoietin drugs in the treatment of cancer-related anemia and the growing adoption of biosimilars are also contributing to the market growth in Europe. Moreover, the increasing adoption of Erythropoietin drugs in the treatment of cancer-related anemia and the growing demand for biosimilars are also expected to drive market growth in these countries. In addition, the increasing focus on research and development activities and the launch of new and innovative Erythropoietin drugs are also expected to drive the erythropoietin drugs market share. Companies such as Roche, Novartis, and Amgen are among the major players operating in the Erythropoietin drug market in Europe.
Erythropoietin Drugs Market Players
Some of the major erythropoietin drugs market companies are Biocon Limited, Amgen, Inc., Dr. Reddy’s Laboratories Ltd., Celltrion Inc., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Sun Pharmaceutical Industries Ltd., LG Life Sciences Ltd., Teva Pharmaceutical Industries Ltd, and Intas Pharmaceuticals Ltd.
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