The North America Erythropoietin Drugs Market would witness market growth of 11.1% CAGR during the forecast period (2021-2027).
Erythropoietin refers to a hormone that is produced by the kidneys. It helps in the development of red blood cells in the bone marrow. The RBCs help in carrying oxygen from the lungs to the heart and then to the rest of the body. Erythropoietin drugs can be injectable in nature. They are used to cure anaemia and other blood-related diseases.
Chronic Kidney Diseases (CKD) is among the leading causes of anaemia. Therefore, the increasing incidence of CKD is the key contributing factor responsible for the growing demand for erythropoietin (EPO) drugs. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), there are around 661,000 people who are suffering from kidney failures in the U.S. This number is likely to increase in the forecast period. This is expected to drive the demand for the market of erythropoietin drugs.
The demand for Erythropoietin Drugs is high in North America. It is due to higher awareness about erythropoietin drugs and increasing cases of renal, oncological, and anaemic diseases in this region. There is a surge in the number of patients who are suffering from chronic kidney dysfunction; this is resulting in higher demand for low-cost therapeutics. In addition, the rising awareness about erythropoietin drugs is one of the important factors accelerating the North American erythropoietin drugs market growth.
Additionally, the healthcare facilities in North America are well-established and the accessibility of infrastructure for the research is anticipated to help the growth rate of the market. The number of such advanced facilities is further expected to increase in the coming years, which is anticipated to support the North American erythropoietin drugs market. The new drug introduction with biosimilar formulations with more efficiency is anticipated to offer profitable growth possibilities to this regional market.
The US market dominated the North America Biosimilars Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4,259.9 million by 2027. The Canada market is experiencing a CAGR of 39% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 38.1% during (2021 - 2027).
Based on Drug Class, the market is segmented into Biologics and Biosimilars. Based on Product, the market is segmented into Epoetin-alfa, Epoetin-beta, Darbepoetin-alfa and others. Based on Application, the market is segmented into Renal Diseases, Cancer, Hematology and Neurology. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Erythropoietin Drugs Market is Estimated to Reach USD 20.2 Billion by 2027 at a CAGR of 11.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson and Johnson, Teva Pharmaceuticals Industries Ltd., Amgen, Inc., F. Hoffmann-La Roche Ltd., Biocon Limited, Intas Pharmaceutical Ltd., Sun Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., LG Corporation (LG Life Sciences Ltd.), and Celltrion, Inc.
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