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Erythropoietin Drugs Market Size
Erythropoietin Drugs Market size was valued at around USD 10.4 billion in 2023 and is estimated to grow at 4.5% CAGR from 2024 to 2032. Erythropoietin drugs are medications designed to stimulate the production of red blood cells (RBCs) in the body. They mimic the action of erythropoietin, a naturally occurring hormone produced by the kidneys that regulates red blood cell production. These drugs are primarily used to treat conditions characterized by anemia, which is a deficiency of red blood cells.
The rising prevalence of cancer is a significant driving factor for the market. For instance, according to the World Health Organization (WHO), in 2022, there were an estimated 20 million new cancer cases and 9.7 million deaths worldwide. Thus, this underscores the growing demand for erythropoietin drugs, as they are essential in managing anemia associated with cancer treatments, helping to improve patient outcomes and quality of life.
Erythropoietin Drugs Market Report Attributes
| Report Attribute |
Details |
| Base Year: | 2023 |
|---|
| Erythropoietin Drugs Market Size in 2023: | USD 10.4 Billion |
|---|
| Forecast Period: | 2024-2032 |
|---|
| Forecast Period 2024-2032 CAGR: | 4.5% |
|---|
| 2032 Value Projection: | USD 15.4 Billion |
|---|
| Historical Data for: | 2021-2023 |
|---|
| No. of Pages: | 159 |
|---|
| Tables, Charts & Figures: | 284 |
| Segments covered: | Drug Type, Drug Class, Application, Distribution Channel, and Region |
|---|
| Growth Drivers: | - Rising prevalence of chronic kidney disease (CKD)
- Advancements in drug formulations
- Increasing incidence of cancer
- Rising geriatric population
|
|---|
| Pitfalls & Challenges: | - High cost of drugs
- Potential side effects
|
|---|
Furthermore, rising prevalence of chronic kidney disease (CKD), advancements in drug formulations, and rising geriatric population are the promoting factors advancing the growth of the market.
