by Market Overview:
Recombinant erythropoietin is a protein hormone that stimulates red blood cell production. It is used to treat anemia caused by chronic kidney disease and chemotherapy. Recombinant erythropoietin helps reduce blood transfusions and improves quality of life.
Market key trends:
One of the key trends in the market is use of recombinant erythropoietin for new applications areas such as treatment of fertility problems. Studies have shown that recombinant erythropoietin is effective in increasing number of mature eggs collected from ovaries during fertility treatments such as in vitro fertilization. This new application area is expected to drive the market growth during forecast period as it addresses the large patient population undergoing fertility treatments.
One key trend in the recombinant erythropoietin market is the rising preference for bio-similar drugs over the reference drug. As bio-similar drugs have similar therapeutic effects as the reference drug but are comparatively cheaper, they are being increasingly adopted. This has intensified competition in the market and compressed margins of established recombinant erythropoietin brands.
The global Recombinant Erythropoietin Market Share is estimated to be valued at US$ 7.01 Billion in 2023 and is expected to exhibit a CAGR of 2.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Wide applications in treating anemia associated with chronic kidney disease, cancer, HIV/AIDS treatment, and pre-surgery blood loss.
Weakness: Stringent regulations for drug approval. Risk of side effects and resistance with long-term usage.
Opportunity: Growing geriatric population susceptible to kidney diseases. Increasing approvals of next-generation erythropoietin drugs.
Threats: Entry of biosimilar products eroding the market share of innovator brands. Reimbursement issues restricting market growth.
Key Takeaways
The global Recombinant Erythropoietin market is expected to witness high growth, exhibiting a CAGR of 2.0% over the forecast period, due to the increasing prevalence of chronic kidney disease and cancer.
Regional analysis: North America dominated the market in 2023, owing to rising cases of targeted diseases in the region. Asia Pacific is anticipated to witness the highest growth rate during the forecast period due to the large patient population, increasing healthcare spending, and growing awareness.
Key players operating in the recombinant erythropoietin market are Amgen Inc., Johnson & Johnson (Janssen Pharmaceuticals), Pfizer Inc., Roche Holding AG, Novartis AG, Biocon Limited, Teva Pharmaceutical Industries Ltd., LG Chem Ltd., Sandoz International GmbH (a subsidiary of Novartis AG), Intas Pharmaceuticals Ltd., Dr. Reddy’s Laboratories Ltd., Celltrion Inc., 3SBio Inc., CJ CheilJedang Corporation, BioSidus SA.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
