The global erythropoietin drugs market is prognosticated to demonstrate steady growth in coming years, as reported by Transparency Market Research.
Global Erythropoietin Drugs Market: Snapshot
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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Global Erythropoietin Drugs Market: Overview
Erythropoietin drugs can be defined as naturally occurring hormone secreted from the kidney, and perform function in development of red blood cells (RBC) by stimulating the bone marrow tissues in the bone. Rising the RBC count increases the hemoglobin level in the blood stream, transport the sufficient amount of oxygen in every part of body. The market is anticipated to grow at a significant rate owing to various factors such as high return on investments, patent expiration of erythropoietin drugs, and growing focus on awareness programs by the governmental and non-governmental organizations, and tax credits and fee waivers offered by the government, among others. According to the research report, the global erythropoietin drugs market is expected to be worth US$19,379.2 mn by the end of 2025, as the market rises at a steady CAGR of 7.5% between 2017 and 2025.
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.
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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.
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