North America is anticipated to dominate the Erythropoietin Drugs Market in terms of revenues in the forecast period

Transparency Market Research has published a new market report titled, “Erythropoietin Drugs Market: (Drug Class: Epoetin Alfa, Epoetin Beta, Darbepoetin Alfa, Others; Drug Type: Biologics and Biosimilar; Drug Application: Cancer, Renal Disease, Hematology, Neurology, Others (Surgery, Wound healing, etc.); and Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy – Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast, 2017–2025”. According to the report, the erythropoietin drugs market is projected to reach US$ 19,379.2 Mn in 2025 at a CAGR of 7.5% from 2017 to 2025.

The report provides detailed analysis of the current and emerging trends in the erythropoietin drugs market. The market size has been provided for drug class, drug type, drug application, distribution channel and geographical segments. Geographically, the market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The high growth in the market can be attributed to the increasing global prevalence of chronic diseases diseases.

North America accounted for major share of the erythropoietin drugs market in 2016. The well-established healthcare infrastructure, growing focus on enhancing awareness among people, regulations governing the faster approval of drugs for chronic diseases, and drug exclusivity offered to the erythropoietin drugs, are the primary factors contributing to the growth of the market. According to American cancer society around 1,688,780 new cancer cases estimated in North America in year 2017 and in U.S. around 600,920 cancer deaths estimated in year 2017. The strong focus on research and development, the government aids to promote R&D, such as research grants, tax credits and fee waivers contribute to the growth of the market. In addition, favorable reimbursement offered by the government and private payers for the treatment of chronic diseases contributes to the market growth in the region.

Europe was the trailing second region in terms of revenues in erythropoietin drugs market. The strong growth in the region, is attributed to the various genetic mutations leading to the increase in the number of chronic diseases being identified and the rising prevalence, as majority of the chronic diseases follow genetic inheritance. As per the European Renal Association report 2016, in Europe 10% population are suffering from chronic kidney disease, and out of which 17.3% cases observed in northeast Germany. Also according to research article European cancer mortality predictions for the year 2017, published in US National Library of Medicine, around 1,373,500 cancer deaths predicted in 2017. In year 2013 Ireland government has initiated policy to improve nation’s health through Healthy Ireland program for the awareness, and treatment of cancer.

Asia Pacific is one of the region where the market of erythropoietin drugs is rising at good rate. Rising the awareness about the chronic diseases and government initiatives are the major drivers for the growth of the market in this region. According to National Cancer Institute, Asia Pacific region is one of the high cancer burden region. Around 60% cancer cases observes in Asia Pacific, Africa, Central and South America. Also the prevalence of renal disease is also very high in this region. According to published report in journal Renal Failure, an estimation of chronic kidney disease was 120 million in adult population (≥18 years old) in year 2016.

Latin America is the region where lack of awareness, less resources are the major market drivers for the growth of erythropoietin drugs market. Cancer is one of the most death causing disease in this region. According to The Economist Intelligence Unit Limited 2017, in year 2015 mortality rate (70+) by cancer in Brazilian men was 59,888, and 45,877 was in women. In Brazilians (age between 15 and 69) the total mortality rate was 127,970, in year 2015. Government initiatives in the field of erythropoietin products is the major driver for the market. Under the government partnership scheme Brazilian public laboratory and a Cuban company has done agreement for the human recombinant erythropoietin product development.

Middle East and Africa region, high incidence rate of renal diseases, and cancers in countries such as South Africa, Nigeria, etc. is rising the market. As per the report South Africa: Human Papillomavirus and Related Diseases Report 2017, total mortality rate in South Africa by Cervical cancer is 4,248 yearly. Low availability of treatments for chronic diseases is a major factor hampering the erythropoietin drugs market in the region. Rising awareness about cancer, and hematological diseases in countries of MEA.

Major players in the erythropoietin drugs market include Amgen Inc., Novartis AG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Merck & Co., Inc., Johnson & Johnson, Wockhardt Ltd., Pfizer, Inc., Biocon Ltd., Teva Pharmaceutical Industries Ltd. etc.

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Rahul Singh

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