The global erythropoietin (EPO) drugs market is poised for remarkable growth in the coming years. These drugs have received approvals from various regulatory authorities for their efficacy in treating chemotherapy-induced anaemia. Moreover, post-abbreviated new drug application (ANDA) approvals have been instrumental in driving the success of erythropoietin drugs for the treatment of chemotherapy-induced anaemia. Patients undergoing chemotherapy or facing conditions such as chronic renal failure, chemotherapy, and antiviral drug therapy benefit from these drugs, which help address anaemia and other blood-related clinical conditions. The market growth has also been influenced by the COVID-19 pandemic, which has created a significant impact on various sectors, including healthcare. As the demand for effective treatments for anaemia and related conditions continues to rise, the global EPO drugs market is expected to experience substantial growth in the forecast period.
What are Erythropoietin Drugs?
Erythropoietin drugs, also known as EPO drugs, are pharmaceutical agents that mimic the function of the naturally occurring hormone erythropoietin in the body. Erythropoietin is a glycoprotein hormone produced primarily by the kidneys, although a small amount is also synthesized in the liver. Its main role is to stimulate the production of red blood cells in the bone marrow.
Erythropoietin drugs are primarily used in the treatment of anaemia, a condition characterized by a deficiency of red blood cells or haemoglobin in the blood. They work by stimulating the production of red blood cells, promoting their maturation, and increasing their lifespan. This helps to improve oxygen-carrying capacity and alleviate the symptoms associated with anaemia, such as fatigue, weakness, and shortness of breath.
These drugs are commonly used in various medical settings, including the treatment of chronic kidney disease-related anaemia, chemotherapy-induced anaemia in cancer patients, and in patients undergoing antiviral drug therapy for conditions such as hepatitis C. They are usually administered via injection, either subcutaneously or intravenously, under the supervision of healthcare professionals.
It’s important to note that the use of EPO drugs should be carefully monitored and controlled, as excessive stimulation of red blood cell production can lead to complications such as high blood viscosity and increased risk of blood clots. Therefore, their administration requires close monitoring of haemoglobin levels and regular adjustments of the drug dosage to maintain optimal therapeutic outcomes while minimizing potential risks.
Expansion rate in Erythropoietin (EPO) Drugs Market
- According to the analysis conducted by Data Bridge Market Research, the global erythropoietin (EPO) drugs market is projected to experience a substantial growth rate during the forecast period of 2022-2029. The expected compound annual growth rate (CAGR) for the global market is estimated to be around 12% within this period. The market was valued at USD 6.50 billion in 2021 and is anticipated to reach a market value of USD 16.09 billion by 2029.
- In addition to providing market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also offers in-depth expert analysis. This analysis includes factors such as patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework, which contribute to a comprehensive understanding of the market dynamics.
- The report takes into consideration various factors that impact the market growth and provides insights into emerging trends, technological advancements, competitive landscape, and market opportunities. It aims to assist stakeholders, including pharmaceutical companies, healthcare professionals, researchers, and investors, in making informed decisions regarding investments, product development, and market expansion strategies.
- By analyzing the market trends and dynamics, the report provides valuable information for market participants to identify potential growth opportunities and challenges in the erythropoietin drugs market. With the inclusion of expert analysis and comprehensive data, the report serves as a reliable resource for understanding the current market scenario and forecasting future trends in the global erythropoietin drugs market.
Fundamentals of Erythropoietin (EPO) Drugs Market
- Growing Number of Chronic Diseases
The erythropoietin medicine market is expanding as a result of an increase in the prevalence of chronic illnesses such cancer, end-stage renal disease, HIV, and neurological disorders. Patients with severe anaemia, renal disease, HIV, and cancer may benefit from the usage of these medications. Around 37.7 million individuals worldwide have HIV in 2020, according to UNAIDS. According to CDC data, more than 37 million Americans are expected to have chronic kidney disease (CKD) by 2021. Thus, it is anticipated that there would be a strong demand for erythropoietin medications over the projection period. As a result, the market is growing faster.
- Drug patent expirations and the development of new technologies
The creation of biosimilar erythropoietin medications using recombinant DNA technology has been made possible by the patent expiry of numerous branded medications. Biosimilars were created by a number of large firms, including Biocon Ltd., Ranbaxy Laboratories Ltd., Dr. Reddy’s Laboratories Ltd., and Intas Pharmaceuticals Ltd. It is anticipated that the availability of biosimilars would increase globally.
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