Albany, NY -- (SBWIRE) -- 08/10/2018 -- The global erythropoietin drugs market is anticipated to experience a surge in product development taken up by the firms operating in the regional and global market. Players seem to be looking for more number of distributors, owing to increase in competition among the peers in the market. This in turn, show the increase in number of distribution channel in the market, contributing in the overall growth of the market. Key players are investing into strategic mergers and acquisitions in order to gain better return on investment (ROI). This is encouraging them to come up with more cost-effective and efficient products. Moreover, government initiatives regarding the research and development activities is another factor bolstering the demand for erythropoietin drugs in the market.
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According to Transparency Market Research (TMR), the global erythropoietin drugs market is expected to expand at a steady CAGR of 7.5% within the forecast period from 2017 to 2025. By the end of 2025, the market is valued to around worth of US$19.3 bn. Based on drug class, the market is segmented into epoetin beta, epoetin alfa, darbepoetin alfa, and others. Among these, in 2016, the Epoetin alfa was the leading segment. The segment is foreseen to dominate in the forecast period as well, as far as revenues are concerned. It is anticipated to remain dominant in the forecast period, in terms of revenues. The segment of Epoetin alfa is generally used to treat chronic renal failure, and cancer chemotherapy. Geographically, North America emerged as a leading region, back in 2016, and is likely to sustain its dominance in coming year as well. The regional growth is credited to rise in approvals related with erythropoietin drugs, and fee waivers and reimbursement policies offered by the governments.
Usage of Erythropoietin Drugs in Cancer Treatment to Augment Market Growth
The significant rise in prevalence of chronic illness all over the world is one of the major factor that is anticipated to surge the demand for global erythropoietin drugs market. The usage of erythropoietin drugs in cancer treatment is expected to be responsible for the notable number of market share in forthcoming years due to their promising pipeline drugs. However, the maximum amount of overall share is credited to the rise in number of people suffering from renal illness and other kidney diseases.
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Improper Price Capping Regulations to Hamper Market Growth
The global erythropoietin drugs market is prognosticated to be hindered by improper price cap rules and regulations in some regions, such as Europe. The growth is also appearing to be hampered due to low-grade healthcare services available in developing nations. Along with this, the lack of proper diagnosis technique are also expected to slow down the market growth of erythropoietin drugs.
Nevertheless, as the drugs are the most preferred method to treat a chronic ailments and tumors, the global erythropoietin drugs market is till anticipated to flourish substantially in the coming years. Moreover, the erythropoietin drugs are also used to cure anemia, which is another factor accelerating the demand in the market.
This analysis is based on a recent market research report by Transparency Market Research, titled, "Erythropoietin Drugs Market (Drug Class – Epoetin Alfa, Epoetin Beta, and Darbepoetin Alfa; Drug Type – Biologics and Biosimilar; Drug Application – Cancer, Renal Disease, Hematology, Neurology, and Surgery and Wound Healing; Distribution Channel – Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) – Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 – 2025."
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