The Business Research Company’s Erythropoietin (EPO) Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, June 11, 2021 /EINPresswire.com/ — The rising incidence of chronic kidney diseases is anticipated to propel the demand for the global erythropoietin drugs market over the approaching years. According to the Brazilian Journal of Nephrology’s statistics published in February 2019, kidney disease is a global public healthcare problem affecting over 750 million people across the globe. In addition to this, according to the Centers for Disease Control and Prevention’s report published on chronic kidney disease in the United States, in 2019, 15% of the adults in the USA, or 37 million people are estimated to have chronic kidney disease (CKD). CKD is more common in people aged 65 or older (38%) than in people aged 45-64 years (13%) and 18-44 years (7%). Chronic kidney diseases lead to an anemic condition which in turn increases the demand for erythropoietin to curb the condition, thereby driving the revenues for the market.
The global erythropoietin (EPO) market is expected to grow from $0.96 billion in 2020 to $1.1 billion in 2021 at a compound annual growth rate (CAGR) of 14.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The erythropoietin market size is expected to reach $3.11 billion in 2025 at a CAGR of 30%.
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The erythropoietin (EPO) market consists of sales of erythropoietin drugs by entities (organizations, sole traders, and partnerships) that manufacture erythropoietin biosimilars. Erythropoietin is a hormone produced by kidneys and plays a vital role in the production of red blood cells, which carry oxygen from the lungs to the rest of the body. Lack of sufficient erythropoietin results in low red blood cells, which may lead to anemia. EPO drugs are used for treatment for anemia, kidney disorders, cancer, and other conditions.
The global EPO market is segmented by product into epoetin-alfa, epoetin-beta, darbepoetin-alfa, others, by application into cancer, hematology, renal diseases, neurology, others, and by drug class into biologics, biosimilar.
Major players in the erythropoietin (EPO) market are Amgen Inc., Johnson & Johnson, Roche Group, Pfizer Inc., Novartis, Celltrion Inc, and LG Life Sciences Ltd.
Erythropoietin (EPO) Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides erythropoietin market overview, forecast erythropoietin market size and growth for the whole market, erythropoietin market segments, and geographies, erythropoietin market trends, erythropoietin market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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