Erythropoietin Drug Market size
Global Erythropoietin Drug Market to Grow at 9.5% CAGR Between 2017 and 2023
Global Erythropoietin Drug Market to Rising by 2023 Increasing Prevalence of Cancer
Also known as hematopoietin, erythropoietin drug is defined as a glycoprotein hormone that controls erythropoiesis. Erythropoiesis is defined as the production of red blood cells (RBC). A new report on the global erythropoietin drug market, published by Market Research Future (MRFR), estimates that this market can visualize expansion at 9.5% CAGR between 2017 and 2023.
The most significant market driving factor for the global Erythropoietin Drug Market size growth is the increasing prevalence of diseases like cancer and various renal diseases. The increasing investment in medical research & development (R&D) and introduction of new drugs are also carrying forward the market growth. Noth just new drugs but the market is also getting strong due to the introduction of several new erythropoietin drug combinations. Other factors contributing to the global erythropoietin drug market growth include different government initiatives for research and a wider pool of patients being covered due to the introduction of new drug combinations.
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Key Players
Big players in the global erythropoietin drug market 3SBio (China), Amgen (USA), Biocon (India), Biosidus (Argentina), Boehringer Ingelheim (USA), Celltrion Inc. (South Korea), Dahua Pharmaceutical (China), Emcure Pharmaceuticals (India), Hoffmann-La Roche (Switzerland), Hospira (USA), Intas Pharmaceuticals (India), Johnson & Johnson (USA), Kyowa Hakko Kirin (Japan), LG Life Sciences Ltd. (South Korea), and Teva Pharmaceutical Industries Ltd. (Israel).
Market Segmentation
The global erythropoietin drug market segmentation encompasses application, end-user, and product type. MRFR’s take on the market surveys various facets of the market in-depth.
The application-based segmentation of this market covers the Human Immunodeficiency Virus (HIV), oncology, renal diseases, and others. In the context of end-user, the market has been segmented into hospital and pharmacy. Regarding product type, the market has been segmented into biosimilars, first-generation formulation, and second-generation formulation.
Regional Segmentation
A geographical outlining of the global erythropoietin drug market covers North America, Europe, Asia Pacific, and the Middle East & Africa (MEA).
North America holds the largest share in the global market due to continuously increasing number of the cancer patient, technological advancement in the medical sector, availability of advanced medical services, governmental initiatives for research, and patient suffering from renal diseases in North America. USA and Canada generate maximum market revenue in this region. Some of the key market players are based in the USA.
In Europe, the market is growing primarily due to the same reasons as in North America. Amendments in reimbursement policies and the growing healthcare sector are also contributing to the market growth. Due to the availability of advanced medical facilities, Western Europe is a bigger regional market than Eastern Europe. The most powerful country-specific markets in Europe are France, Germany, Italy, Spain, and the UK. An inspection of the remaining countries in Western Europe featured in this report speculate the huge contribution to market revenue from some other countries in this region with a sizable revenue from Eastern Europe too.
During the forecast period, the gains for Asia Pacific market can rise high, making it the fastest-growing regional market. The factors benefitting the market growth in this region are increased penetration of healthcare services and expanding patient population in countries like China and India. Moreover, the increased government effort to improve healthcare in these countries is creating new growth opportunities for the market. Other important country-specific markets in this region are Australia, Japan, and South Korea. An analysis of the remaining countries in the Asia Pacific region featured in this report estimates the huge contribution to market revenue from some other countries.
The MEA region holds the lowest share in the global market due to poor medical facilities and lack of skilled professionals.
Latest Industry News
- GlaxoSmithKline (GSK) has started the marketing activities in Japan to launch a new oral drug called daprodustat. Daprodustat is meant to cure anemia associated with chronic kidney disease (CKD), which is caused by a deficiency in erythropoietin. Daprodustat is also expected to be an alternative to many erythropoiesis-stimulating agents (ESAs) that are injected into the body of the patient. 21 AUG 2019
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