Albany, NY -- (SBWIRE) -- 09/29/2020 -- The global erythropoietin drugs market is prognosticated to demonstrate steady growth in coming years, as reported by Transparency Market Research (TMR). The competitive ecosystem features a highly consolidated environment, with vendors involved in different tactics to beat the rival players. Leading vendors in the global erythropoietin drugs market engage in several organic and inorganic growth strategies. Mergers and acquisitions are a popular initiative undertaken by vendors in order to gain momentum in the global market.
The improvement of distribution channels is expected to be focused on by vendors operating in the global erythropoietin drugs market. This is likely to encourage vendors to find more distributors in their supply chain system. This will further amplify competition among the market players.
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Research and development activities play a pivotal role in this industry, and market vendors are anticipated to engage in application-specific research. The segment of biosimilars is expected to offer rich growth opportunity to vendors, with increased number of clinical trials and approvals. Under-penetrated market will be the focus of established vendors and market entrants, with the aim of expansions/launches.
Key vendors in the global erythropoietin drugs market are Johnson & Johnson, Amgen Inc., Biocon Ltd., F. Hoffmann-La Roche Ltd., and Pfizer, Inc.
According to TMR's predictions, the global erythropoietin drugs market is prognosticated to rise at a 7.5% CAGR over the forecast period from 2017 to 2025, and projected to be worth US$19.3 bn by the end of the forecast period.
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Based on the geographical segmentation, the global erythropoietin drugs market is expected to be dominated by North America. The region boasts of fee waivers, favorable reimbursement policies, and approval associated with the product, propelling the North America market. On the basis of drugs class, Epotin alfa is anticipated to remain dominant over the forecast period. This could be attributed to the high prevalence of renal failures and cancer, as the drug is majorly used in these instances.
Rising Incidence of Anemia to Drive Erythropoietin Drugs Market
Substantial economic stresses are amplified by anemia and also affect the quality of life. AS reported by the Center for Disease Control and Prevention (CDC), some 5.5 million ambulatory care patients suffer from anemia due to a nutritional deficiency, while the second most prevalent cause is chronic disease. Although anemia is a common disease symptom, it remains undiagnosed and undertreated, particularly for patients with chronic renal diseases (CRD) that are not dialyzed. Approximately 20 million people in the U.S. have CKD, 2-4 million of which have anemia. Thus, an increasing number of anemia patients are driving the global market for erythropoietin.
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Introduction of Biosimilars to Emerge as Key Market Trend
In the global erythropoietin drugs market, major pharmaceutical companies such as Pfizer, Amgen, and Novartis have shifted dramatically from reference drugs to biosimilars. Biosimilars are comparatively easy to develop and cost-effective, and need less time than biologics for approval. These associated benefits are anticipated in the forecast period to promote segment growth.
Other factors contributing to his dominance include the presence of large patient populations and patent expiration of biologics. In addition, there has been an increase in the availability of some biosimilars in the market. Furthermore, the biosimilars segment is expected to gain traction with increased awareness and high spending on healthcare, opening up growth avenues in the global erythropoietin drugs market.
New Product Launches, Patent Expiration to Drive Erythropoietin Drugs Market
Darbepoetin-alfa has been developed by Amgen, Inc. as a new erythropotine drug marketed under the Aranesp brand name. This medicinal product is patented in the United States and expires in 2024. Darbepoetin-alfa is expected to be positive for its economy, improved efficiency and long half-life, in the future. This is a viable way to treat anemia caused by renal disease at the end of the stage. Research on new therapeutic fields for the application of darbepoetin-alfa is under way, which is expected to serve the global erythropoietin drugs market with substantial growth potential.
This review is based on TMR's report titled, "Erythropoietin Drugs Market (Drug Class - Epoetin Alfa, Epoetin Beta, and Darbepoetin Alfa; Drug Type - Biologics and Biosimilar; Drug Application - Cancer, Renal Disease, Hematology, Neurology, and Surgery and Wound Healing; Distribution Channel - Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 - 2025.."
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