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Erythropoietin Drugs Market Worth $17.4 Billion By 2025 Due To Rising Incidence Of Chronic Diseases Such As CKD And Cancer | Grand View Research, Inc.

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Erythropoietin Drugs Market Worth $17.4 Billion By 2025 Due To Rising Incidence Of Chronic Diseases Such As CKD And Cancer | Grand View Research, Inc.

April 05
06:46 2021
Erythropoietin Drugs Market Worth $17.4 Billion By 2025 Due To Rising Incidence Of Chronic Diseases Such As CKD And Cancer | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
The continued rise in incidences of kidney disorders among the general population has necessitated development of novel drugs for effective treatment, which is expected to be a major driver for the erythropoietin drugs market, according to Grand View Research. The COVID-19 pandemic is expected to offer new avenues to industry players through involvement in the development of possible vaccines over the coming months.

The global erythropoietin drugs market size is expected to reach USD 17.4 billion by 2025, according to a new report by Grand View Research, Inc. The industry is projected to advance at a substantial CAGR of 11.5% over the forecast period. Erythropoietin (EPO) is a growth factor that is produced in the kidneys, which stimulates red blood cell (RBC) production in the bone marrow. Thus, the major functions of EPO include promoting RBC development, and initiating hemoglobin synthesis. Rising incidence of chronic diseases such as CKD (chronic kidney disease) 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 highlights the need for erythropoietin-stimulating agents in the coming years.

Besides kidney-related disorders, the high prevalence of other life-threatening diseases such as cancer and HIV is expected to positively shape the EPO drugs industry over the forecast period. Introduction of novel drugs and their cheaper biosimilar formulations with enhanced efficacy and cost-effectiveness is also expected to offer expansive growth opportunities for market growth. 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. Companies are involved in extensive R&D initiatives for development of innovative molecules and discovering new therapeutic areas for existing drugs, which has created a positive environment for industry growth. Additionally, patent expiration of major biologics in recent years, such as that of Amgen’s patent for Epogen in 2015, has created numerous opportunities for the entry of erythropoietin biosimilars in the market. 

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/erythropoietin-epo-drugs-market

Erythropoietin Drugs Market Report Highlights

 According to the NIDDK, the overall prevalence of CKD in the general population is around 14 percent, while more than 661,000 Americans suffer from kidney failure, which is expected to be a key factor for the growth of the EPO drugs market moving ahead

In terms of product, Epoetin-alfa held the largest share in the erythropoietin drugs market, owing to its early introduction in the U.S. market and patent protection; this was the first biologic to be approved by the U.S. FDA for the treatment of anemia resulting from CKD, cancer chemotherapy, and HIV treatment

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

The Asia Pacific regional industry for erythropoietin-stimulating agents is expected to witness lucrative CAGR during the forecast period; the continued rise in the incidence of chronic diseases coupled with high demand for low-cost therapeutics has accelerated the regional industry advancement

The COVID-19 pandemic has led to extensive efforts by researchers into developing an effective vaccine to combat the virus. In July 2020, researchers at the Max Planck Institute of Experimental Medicine in Göttingen carried out studies that indicated a positive role of EPO in mitigating the disease progression; favorable outcomes may lead to accelerated growth of the erythropoietin drugs industry in the near future

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

Get Sample Copy Of This Report @ https://www.grandviewresearch.com/industry-analysis/erythropoietin-epo-drugs-market/request/rs1

Erythropoietin Drugs Market Segmentation

Grand View Research has segmented the erythropoietin (EPO) drugs market on the basis of the drug class, product, application, and region:

Erythropoietin Drugs Drug class Outlook (Revenue, USD Million, 2014 – 2025)

     Biologics
     Biosimilar

Erythropoietin Drugs Product Outlook (Revenue, USD Million, 2014 – 2025)

     Epoetin-alfa
     Epoetin-beta
     Darbepoetin-alfa
     Others

Erythropoietin Drugs Application Outlook (Revenue, USD Million, 2014 – 2025)

     Cancer
     Hematology
     Renal Diseases
     Neurology

Erythropoietin Drugs Regional Outlook (Revenue, USD Million, 2014 – 2025)

     North America
        • The U.S.
        • Canada
    • Europe
        • Germany
        • The U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa
        • South Africa

Speak to Analyst @ https://www.grandviewresearch.com/inquiry/4506/ibb

About Grand View Research

Grand View Research, Inc. is a market research and consulting company based in India and the US, and headquartered in San Francisco. The organization offers syndicated and customized research reports in 46 industries across key regional markets, such as the US, Canada, Latin America, Europe, and Asia Pacific, among others.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/erythropoietin-epo-drugs-market


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