LAMEA Erythropoietin Drugs Market By Drug Class (Biologics and Biosimilars), By Product (Epoetin-alfa, Epoetin-beta, Darbepoetin-alfa and others), By Application (Renal Diseases, Cancer, Hematology and Neurology), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa Erythropoietin Drugs Market would witness market growth of 12.8% CAGR during the forecast period (2021-2027).
Erythropoietin (EPO) is considered as a hormone produced in trace amounts by the kidneys. It circulates through the blood and stimulates the production of red blood cells in the bone marrow. This hormone promotes the division and differentiation of erythroid progenitors that produce red blood cells in the bone marrow.
The use of hemopoietic growth factors erythropoietin (EPO) mainly in the developed countries is high. However, its demand is continuously increasing in developing countries also. These drugs are used in the treatment and management of anaemia resulted in a significant decrease in the need for allogeneic blood transfusion. A large number of anaemic patients are currently treated with erythropoietin. The use of erythropoietin drugs in the treatment of anaemia in sub-Saharan Africa (SSA) is not very high.
There are cost-related challenges added burden by the most African government due to this their citizen is not able to get quality health services compared to other developed countries. Due to the presence of sub-optimal health infrastructure and low annual per capita health care expenditures, it is expected that the demand for high-cost hemopoietic drugs will grow at a slower pace in the African region during the forecast period.
Erythropoietin drugs are getting faster approvals and this gives pharmaceutical & biotechnology firms lucrative opportunities to increase the production of the drug. The government of various countries is focused on investing more in R&D and manufacturing these drugs. This is acting as the major factor propelling the market growth. Patent expiration of these unique and hard drugs is the factor helping the erythropoietin drug market to grow further. The patent expiration of these biologics in the coming years is likely to create more opportunities for players to enter the erythropoietin market.
The Biologics market dominated the Saudi Arabia Erythropoietin Drugs Market by Drug Class in 2020, thereby, achieving a market value of $56.9 million by 2027. Additionally, The Biosimilars market is expected to witness highest CAGR of 39.6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
Scope of the Study
Market Segments Covered in the Report:
By Drug Class
- Renal Diseases
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.)
- Celltrion, Inc.
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