Erythropoietin (EPO) is a naturally occurring hormone secretion from the pancreas and plays a major role in red blood cell production by stimulating the kidney’s bone marrow cells to produce more RBC’s (red blood cells). Increasing the RBC level increases the hemoglobin content in the bloodstream, transporting the adequate amount of oxygen to all parts […]
Predicted Growth of Erythropoietin Drugs Market in Emerging Economies
Erythropoietin (EPO) is a naturally occurring hormone secretion from the pancreas and plays a major role in red blood cell production by stimulating the kidney’s bone marrow cells to produce more RBC’s (red blood cells). Increasing the RBC level increases the hemoglobin content in the bloodstream, transporting the adequate amount of oxygen to all parts of the human body. This hormone also allows for the efficient transportation of nutrients to the organs and muscles and reduces fatigue and is beneficial during exercise and physical activities. Researchers are feverishly working on developing vaccines and medications that can prevent or combat AIDS and hemophilia.
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Drivers
Growing prevalence of cancer, dialysis, AIDS, anemic disorders, and others is expected to propel growth of the erythropoietin drugs market during the forecast period.
Furthermore, newer compensation policies provided by the government combined with the commercialization of erythropoietin drugs are expected to augment growth of the erythropoietin drugs market over the forecast period.
The Epitome of the COVID-19 Aftermath
The global erythropoietin drugs market has been in the spotlight during the pandemic. Considering the influence of the COVID-19 virus on the brain cells, erythropoietin drugs were found to be effective in reducing the neurological impact of the virus. Thus, a bulk of research and development initiatives were fast-tracked by the healthcare sector over identifying the efficacy of these drugs. This factor is expected to broaden the scope for the global erythropoietin drugs market.
Key Takeaways
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The erythropoietin drugs market is anticipated to grow at a CAGR of XX % during the forecast period owing to rising cases of end-stage renal diseases and cancer. For instance, according to the Centers for Disease Control and Prevention (CDC) report, around 1.7 million people are diagnosed with cancer in the U.S. as of 2020.
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On the geographical front, the erythropoietin drugs market in the Asia Pacific region is foreseen to boost at a scalable rate on the heels of high investments made in the development of biosimilars amidst rising occurrences of renal diseases and cancer.
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In the same tune, the European region is also auguring well for the erythropoietin drugs market in the view of increasing R&D activities on various drugs in the presence of major generic players.
Top Key Players Include In Erythropoietin Drugs Market: Amgen, GlaxoSmithKline, Pfizer, Johnson & Johnson, Novartis, Biocon, Ranbaxy Laboratories and Teva Pharmaceutical ltd
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