Erythropoietin Drug Market Is Predicted To Reach USD 17.4 Billion By 2025: By Grand View Research, Inc.
The global erythropoietin (EPO) drugs market is expected to
reach USD 17.4 billion by 2025, according to a new report by Grand View
Research, Inc. Rising incidence of chronic diseases such as CKD 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 showcases the need for erythropoietin-stimulating agents in the
coming years.
Introduction of novel drugs and
their cheaper biosimilar formulations with enhanced efficacy and
cost-effectiveness is also expected to serve this industry with lucrative
opportunities. 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.
U.S. erythropoietin drugs
market revenue by drug class, 2014 - 2025 (USD billion)
Browse full research report on
Erythropoietin
Drug Market
Companies are involved in
extensive R&D initiatives for development of innovative molecules and
discovering new therapeutic areas for existing drugs. For instance, in April
2016, Sandoz received approval from the European Commission for use of its
biosimilar Binocrit in nephrology indications, thereby extending the
therapeutic area of its product portfolio.
Moreover, many of the industry
players in the U.S., Europe, and Asia Pacific are involved in the development
of new biosimilars. For example, Biocon’s subsidiary Syngene International
entered into an agreement with Bristol-Myers Squibb to extend their drug
discovery and development program in India. This enables Biocon to enhance its
erythropoietin drugs portfolio. Expected product approvals in the coming years
are anticipated to fuel market growth.
Further key findings from
the report suggest:
- The biologics
segment is declining over the forecast period owing to patent expiration
of branded biologics and introduction of biosimilars in the market
- The patent for
Aranesp (darbepoetin-alfa) will expire in 2024 in the U.S. and is expected
to provide numerous future growth opportunities for new market entrants
- Epoetin-alfa
held the largest share of product segment owing to its early introduction
in the U.S. market and patent protection
- 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
- Use of
erythropoietin drugs for treatment of renal diseases held a dominant share
as of 2016 owing to the increasing incidence of chronic kidney diseases
- The Asia
Pacific regional industry for erythropoietin-stimulating agents is
expected to witness lucrative CAGR during the forecast period
- 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.
For
more information: http://www.grandviewresearch.com
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