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 t...