Erythropoietin (EPO) Global Market To Reach Value Of About $ 2.27 Billion In 2023
The global erythropoietin (EPO) market is expected to decline from $1.01 billion in 2019 to $0.95 billion in 2020 at a compound annual growth rate (CAGR) of -6.27%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $2.27 billion in 2023 at a CAGR of 33.9%.
The erythropoietin (EPO) market consists of sales of erythropoietin drugs by entities (organizations, sole traders, and partnerships) that manufacture erythropoietin biosimilars. Erythropoietin (EPO) 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 anaemia. The erythropoietin (EPO) drugs are used for treatment for anaemia, kidney disorders, cancer, and other conditions.
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The global erythropoietin (EPO) market is further segmented based on type and geography.
By Product: Epoetin-alfa, Epoetin-beta, Darbepoetin-alfa, Others.
By Application: Cancer, Hematology, Renal diseases, Neurology, Others.
By Geography: The global erythropoietin (EPO) market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Trends In The Erythropoietin (EPO) Market
Stringent regulations imposed on the production and sales of erythropoietin drugs are predicted to hinder the growth of the erythropoietin market over the forecast period. For instance, in European Community (EC), technologically advanced medicinal products manufactured using a biotechnological process such as recombinant DNA technology should comply with marketing authorization (MA) under provisions of Regulation (EC) No. 726/04 issued by EC.
Erythropoietin (EPO) Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides erythropoietin (EPO) market overviews, analyzes and forecasts market size and growth for the global erythropoietin (EPO) market, erythropoietin (EPO) market share, erythropoietin (EPO) market players, erythropoietin (EPO) market segments and geographies, erythropoietin (EPO) market’s leading competitors’ revenues, profiles and market shares. The erythropoietin (EPO) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.