Market Overview:
Recombinant erythropoietin is a glycoprotein hormone produced by kidney that regulates production of red blood cells. Recombinant erythropoietin products are produced using recombinant DNA technology and used in treatment of anemia caused by chronic kidney disease and chemotherapy. They help increase red blood cell production and treat symptoms associated with anemia such as tiredness, weakness, shortness of breath, and poor ability to exercise. Growing prevalence of chronic kidney disease and cancer are major factors driving demand for recombinant erythropoietin.
Market key trends:
Recombinant erythropoietin products have become one of the standard treatments for anemia related to chronic kidney disease and cancer. The prevalence of chronic kidney disease is increasing rapidly globally due to aging population and rising incidences of diabetes and hypertension. As per statistics published by International Society of Nephrology, around 850 million people suffer from chronic kidney disease worldwide. Growing prevalence of cancer is another key trend boosting recombinant erythropoietin market. As per WHO, cancer burden has risen to 18.1 million new cases and 9.6 million cancer deaths in 2018 globally. Epoetin alfa, epoetin beta and darbepoetin alfa are major recombinant erythropoietin products used widely in treatment of renal anemia and chemotherapy-induced anemia. Biosimilar versions of these products have also gained significant traction in recent years due to their cost effectiveness.
The global Recombinant Erythropoietin Market Share is estimated to be valued at US$ 7.01 Billion in 2023 and is expected to exhibit a CAGR of 2.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the recombinant erythropoietin market is low due to high capital requirement for R&D and manufacturing plant setup. Strict regulations for biosimilars also pose entry barriers.
Bargaining power of buyers: The bargaining power of buyers in the recombinant erythropoietin market is moderate due to availability of large number of established brands. However, limited therapeutic options increase buyer dependence on key brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers for raw materials and manufacturing equipment. Suppliers have limited differentiation in their offerings.
Threat of new substitutes: Threat of new substitutes is low as recombinant erythropoietin is the standard therapy and no major substitute has entered the market yet.
Competitive rivalry: The competitive rivalry is high due to presence of many global and local players offering biosimilars. Players compete on basis of product differentiation, pricing and marketing.
Key Takeaways
The global Recombinant Erythropoietin Market is expected to witness high growth, exhibiting CAGR of 2.0% over the forecast period, due to increasing prevalence of renal disorders and growing incidence of cancer.
Regional analysis
North America dominates the global market holding the largest market share due to growing demand for biosimilars and high healthcare spending in the US. Asia Pacific is expected to witness fastest growth rate over the forecast period with China and India emerging as high potential markets.
Key players
Key players operating in the recombinant erythropoietin market are Amgen Inc., Johnson & Johnson (Janssen Pharmaceuticals), Pfizer Inc., Roche Holding AG, Novartis AG, Biocon Limited, Teva Pharmaceutical Industries Ltd., LG Chem Ltd., Sandoz International GmbH (a subsidiary of Novartis AG), Intas Pharmaceuticals Ltd., Dr. Reddy’s Laboratories Ltd., Celltrion Inc., 3SBio Inc., CJ CheilJedang Corporation, BioSidus SA.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
