April 12, 2024
Recombinant Erythropoietin Market

Recombinant Erythropoietin Market Is Expected To Be Driven By Rising Prevalence Of Anemia

Recombinant erythropoietin is a man-made form of erythropoietin that stimulates the production of red blood cells. It is derived from genetically engineered cell lines and manufactured through similar techniques used for recombinant DNA therapeutics. Recombinant erythropoietin is extensively used for treatment of anemia associated with chronic kidney disease, cancer chemotherapy, HIV, and other medical conditions.

The global recombinant erythropoietin market is estimated to be valued at US$ 9.5 billion in 2024 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

The global recombinant erythropoietin market is expected to witness significant growth owing to the rising prevalence of anemia globally. According to the World Health Organization (WHO), around a third of the global population is affected by anemia due to various causes such as iron deficiency, infections, chronic inflammation, and genetic disorders. Additionally, increasing incidence of chronic kidney diseases (CKD) and cancer that require chemotherapy is also fueling the demand for recombinant erythropoietin for treatment of associated anemia. Furthermore, development of long-acting recombinant erythropoietins with improved efficacy is further supporting the market growth.

Market Dynamics

Rising prevalence of anemia is expected to be a major driver for recombinant erythropoietin market over the forecast period. According to the Centers for Disease Control and Prevention (CDC), anemia affects over 3 million Americans every year. It is particularly common in certain groups such as pregnant women, young children, and elderly population. Around 10-15% of the global population is estimated to suffer from anemia. Additionally, increasing incidence of CKD and cancer are projected to push the cases of associated anemia over the coming years. For instance, according to statistics by the American Society of Nephrology, over 37 million people globally suffer from CKD. This rising patient pool suffering from anemia presents a lucrative opportunity for players in recombinant erythropoietin market.

Furthermore, ongoing research and development for long-acting recombinant erythropoietins with improved efficacy will further aid the market growth. Manufacturers are developing recombinant erythropoietins that can be administered less frequently through subcutaneous injections. This provides enhanced patient compliance and convenience. Such next generation products are gaining FDA approval which is positively impacting recombinant erythropoietin demand.

Segment Analysis

The global Recombinant Erythropoietin Market Growth is dominated by the pharmaceuticals subsegment. The pharmaceuticals subsegment accounts for around 70% of the market share owing to the wide application of recombinant erythropoietin in treating anemia related to chronic kidney disease, cancer chemotherapy and HIV patients. Recombinant erythropoietin is essential in pharmaceutical industries for treating such medical conditions.

PEST Analysis

Political: Government regulations related to approvals of recombinant erythropoietin and any changes made in drug pricing can impact the market. Various countries have stringent norms for drug approval which affects the timelines.
Economic: Fluctuations in currency exchange rates and economic performance of key markets impact sales volumes and pricing strategies of players. The overall healthcare spending of countries also determines the potential of this market.
Social: Growing prevalence of lifestyle disease, obesity and rising geriatric population fueling demand for effective anemia treatment drives the market growth. However, high cost of biologics is a challenge.
Technological: Developments in producing more efficacious and safer biosimilars through cell culture and fermentation technologies help lower costs and expand access to treatment.

Key Takeaways

The global recombinant erythropoietin market size was valued at US$ 10 Billion in 2024 and is projected to reach US$ 15 Billion by 2031, registering a CAGR of 3.4% during the forecast period.

Regional analysis

North America region currently dominates the recombinant erythropoietin market led by the US due to high adoption rates and developed healtAhcare infrastructure. Asia Pacific region is expected to experience fastest growth rate owing to rising healthcare investments, growing incidences of kidney failures and increasing patient affordability in the region.

Key players

Key players operating in the recombinant erythropoietin market are Amgen, Johnson & Johnson, Roche, Kyowa Hakko Kirin and 3SBio Group. Amgen leads the market with established biosimilars like Epogen and Aranesp since the 1980s and has a strong patient base.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it