Global Erythropoietin Drugs Market: Overview
Erythropoietin drugs can be defined as naturally occurring hormone secreted from the kidney, and perform function in development of red blood cells (RBC) by stimulating the bone marrow tissues in the bone. Rising the RBC count increases the hemoglobin level in the blood stream, transport the sufficient amount of oxygen in every part of body. The market is anticipated to grow at a significant rate owing to various factors such as high return on investments, patent expiration of erythropoietin drugs, and growing focus on awareness programs by the governmental and non-governmental organizations, and tax credits and fee waivers offered by the government, among others. According to the research report, the global erythropoietin drugs market is expected to be worth US$19,379.2 mn by the end of 2025, as the market rises at a steady CAGR of 7.5% between 2017 and 2025.
Cancer to Remain Critical to Escalating Demand for Erythropoietin Drugs over Forecast Period
On the basis of drug class, the market has been segmented into epoetin alfa, epoetin beta, darbepoetin alfa, others. Epoetin alfa was the dominant segment in 2016. It is anticipated to remain dominant in the forecast period, in terms of revenues. Epoetin alfa is usually related with cancer chemotherapy and chronic renal failure. Rising the prevalence of cancer worldwide according to National institute of cancer, 1,685,210 new cases of cancer estimated in year 2016. On the basis of drug application, the market has been segmented into cancer, renal disease, hematology, neurology, others (surgery, wound healing, etc.). Cancer was the dominant segment in 2016. It is anticipated to remain dominant in the forecast period, in terms of revenues, owing to the factors such as increasing prevalence of chronic diseases globally.
Based on drug type, the market has been segmented into biologics and biosimilars. The biologic erythropoietin drugs dominated the market in 2016 and are anticipated to remain dominant in the forecast period. This segment is anticipated to grow at a high CAGR during the forecast period owing to long drug exclusivity period, which provides manufacturers a high return on investment (ROI). On the basis of distribution channel, the market has been segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment dominated the market in 2016 and is anticipated to remain the dominant segment in terms of revenues in the forecast period. The online pharmacy segment is anticipated to grow at a significant high CAGR during the forecast period, owing to the factors such as increasing reach of online pharmacy to the customers, rising the internet facilities globally, and other services such as cost containment offered by online pharmacy.
Higher Approval Rate of Erythropoietin Drugs in North America Boosts Growth of Regional Market
Geographically, the market has been segmented into five regions, including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America was the dominant region in terms of revenues in 2016 and is anticipated to remain dominant in the forecast period. The growth in the region can be attributed to the increasing approvals of erythropoietin drugs, government incentives offered for research on chronic disease such as research and development grants, drug exclusivity, tax credit and fee waivers, among others.
Request Brochure of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1856
Europe is anticipated to be the trailing next in terms of revenues in the forecast period. This growth can be attributed to the increasing prevalence of chronic diseases in the region. Growth of the segment is led by government initiatives for cancer and other chronic disease treatment. Governments of various countries in the region are taking efforts to decrease the rate of incidence of cancer. Asia Pacific region is growing with highest CAGR value. High incidence rate of hematological diseases in countries such as India, China, Bangladesh, and Pakistan is driving the erythropoietin drugs market in Asia Pacific.
Major players in the erythropoietin drugs market include Amgen Inc., Novartis AG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Merck & Co., Inc., Johnson & Johnson, Wockhardt Ltd., Pfizer, Inc., Biocon Ltd., Teva Pharmaceutical Industries Ltd. etc., among others.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Transparency Market Research
90 State Street,
NY – 12207
USA – Canada Toll Free 866-552-3453