According to FutureWise analysis the market for erythropoietin stimulating agents in 2023 is US$ 10.57 billion, and is expected to reach US$ 20.78 billion by 2031 at a CAGR of 8.82%.
The process by which red blood cells are formed is erythropoiesis. The process is initiated by a hormone called erythropoietin, which is released by the kidneys and stimulates the bone marrow to synthesize more red blood cells. Erythropoietin stimulating agents are drugs that work similarly to erythropoietin and are taken in order to increase the number of red blood cells in the body. It is usually performed when anemia is caused by a variety of illnesses, such as cancer, blood disorders, neural disorders, chronic kidney disease, HIV, and others. A rise in anemic conditions caused by end-stage renal disease treatment, chemotherapy, and antiretroviral treatment (ART) is driving the growth of the erythropoietin market. Thus, an increase in chemotherapy cycles and an increase in end stage renal disease (dialysis) has led to an increase in demand for EPO. The side effects associated with erythropoietin therapy, such as arterial hypertension, iron deficiency, and influenza-like syndrome, and the longer duration of therapy (4-6 weeks) limit the market for erythropoietin drugs. Moreover, growth of the erythropoietin drugs market is fueled by the increasing trend of biosimilar erythropoietin products, reimbursements that are readily available, favorable government regulations, and increased awareness of erythropoietin therapeutics.
The severity of the disease varies among patients based on the type of chemotherapy used, the type and stage of neoplasia, and the characteristics of the patient. Cancer patients who suffer from severe anemia are often fatigued, weak, and depressed, which significantly decreases quality of life. Among cancer patients undergoing chemotherapy, erythropoietin acts against two main causes of anemia, namely myelosuppression and endogenous erythropoietin deficiency. Erythropoietin alfa and epoetin beta are most often prescribed to patients diagnosed with anemia associated with cancer.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Erythropoietin Stimulating Agents Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Erythropoietin Stimulating Agents Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.