by Recombinant erythropoietin (rEpo) is a biologic drug produced through recombinant DNA technology in living organisms such as yeast or mammalian cells that stimulates red blood cell production. rEpo is used to treat anemia associated with chronic kidney disease, cancer, and HIV/AIDS. The global rEpo market has witnessed significant growth in recent years due to rising prevalence of anemia worldwide. According to World Health Organization, about a quarter of the global population is affected by anemia with women and children being the most vulnerable groups.
The global Recombinant Erythropoietin Market is estimated to be valued at US$ 7.2 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.
Market key Trends:
One of the major trends witnessed in the rEpo market is the use of biosimilar products. Biosimilars offer cost benefits over reference biological drugs. The patent expiration of key blockbuster Epoetin drugs such as Eprex/Erypo has enabled the entry of low-cost biosimilar products from companies such as Hospira and Biocon. Biosimilar Epoetin drugs are approved by major regulatory agencies for treating anemia related to chronic kidney disease. Their adoption continues to grow steadily, especially in developing regions. This growing adoption of biosimilar Epoetin drugs is likely to reduce treatment costs and drive the growth of the overall rEpo market during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as there are high capital requirements for R&D and manufacturing facilities. Additionally, established brands have strong customer loyalty and distribution networks.
Bargaining power of buyers: The bargaining power of buyers is moderate as recombinant erythropoietin is an important drug for treating anemia. However, buyers have some influence due to the availability of generics.
Bargaining power of suppliers: The bargaining power of suppliers is low as the raw materials used in manufacturing recombinant erythropoietin are commodity chemicals and easily available.
Threat of new substitutes: There is a low threat of new substitutes as recombinant erythropoietin is an important and effective treatment with no major substitutes available.
Competitive rivalry: The competitive rivalry is high among the major players due to their large market share and geographical presence. Players compete on the basis of quality, price, and innovation.
Key Takeaways
The global Recombinant Erythropoietin Market Growth is expected to witness high growth over the forecast period. The global Recombinant Erythropoietin Market is estimated to be valued at US$ 7.2 billion in 2024 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024 to 2031.
North America currently dominates the market owing to advancements in biologics and increasing prevalence of kidney diseases and cancer in the region. Asia Pacific is expected to grow at a fastest rate during the forecast period. Factors such as rising healthcare spending, growing aging population, and increasing incidence of lifestyle diseases are driving the growth of the market in the region. China and India are expected to offer significant opportunities owing to their large population base and improving healthcare infrastructure.
Key players operating in the recombinant erythropoietin market are Amgen, Johnson & Johnson, Kyowa Hakko Kirin, Roche. These players are focusing on new product launches and geographical expansion strategies to gain maximum share in the market. For instance, in 2022 Roche launched its biosimilar recombinant erythropoietin product Eporatio to expand its portfolio of hematology therapies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
