APAC Erythropoietin Drugs Market

APAC Erythropoietin Drugs Market Size & Growth (2023 to 2028):

As per the research report, the size of the Asia Pacific Erythropoietin Drugs Market was valued at USD 2.40 billion in 2023 and estimated to be growing at a CAGR of 9.87%, to reach USD 3.85 billion by 2028 during the forecast period 2023 to 2028.

DRIVERS

The high prevalence of cancer, HIV and Chronic renal failure in developing APAC countries presents a significant opportunity for drug manufacturers to expand their presence in this market. The increased demand for low-cost therapies in developing regions in China, India, Taiwan and Pakistan etc. has prompted the development of biosimilars for EPO in these regions. These chronic diseases have the potential to cause anemia. To control the increasing cases of anemia, the demand for erythropoietin (EPO) drugs is expected to witness a surge in the forthcoming years.

The demand for erythropoietin (EPO) is expected to increase the R&D to give birth to newer medicines that have fewer side effects, in the coming years to combat the increasing incidence of anemia. The Erythropoietin (EPO) market is expected to grow during the forecast period owing to factors such as an increase in the number of patients with anemia, favorable reimbursements, increased commercialization of EPO biosimilars and an increased incidence of kidney diseases in APAC regions.

RESTRAINTS

 Few factors restraining the market growth are side effects of EPO drugs, such as high blood pressure, iron deficiency, and influenza like illness, along with longer duration of EPO treatments mostly take 4-6 weeks are limiting market growth erythropoietin-based drugs.

OPPORTUNITIES

Growing marketing trends for erythropoietin biosimilars, readily available discounts, favorable government regulations, and increased awareness of the benefits of EPO therapies are all contributing to give new opportunities to the growth of the erythropoietin drug market.

CHALLENGES

Awareness about the availability of drugs in the market is challenging the market growth rate in APAC regions.

This research report on the APAC Erythropoietin Drugs Market has been segmented and sub-segmented into the following categories:

By Product:

• Epoetin-alpha
• Epoetin-beta
• Darbepoetin-alfa
• Others

By Application:

• Cancer
• Haematology
• Renal Diseases
• Neurology

By Drug Class:

• Biologics
• Biosimilar

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

REGIONAL ANALYSIS

Asia Pacific is a promising market for erythropoietin growth, and most erythropoietin companies are focused on the region. Due to the development of biosimilars by the major manufacturers in these regions, the China holds the largest share of the APAC EPO drugs market.

India and China are important markets for erythropoietin drugs industry. The Chinese market dominated the APAC EPO market by country in 2020, reaching a market value of $ 192 million. The Japanese market shows a CAGR of 16% at during (2023 - 2028). Additionally, the Indian market is expected to grow at a CAGR of 15% during (2023 - 2028). There is a great demand for low cost therapies in this region. As a result, Asia-Pacific has attracted many companies for the development of EPO drugs. They are focused on developing more drugs than anywhere else in the world.

Japan, on the other hand, will experience the fastest growing CAGR in the coming years. Another factor contributing to the growth of the market is the increase of government initiatives in this region to provide better healthcare services to the public. For example, the Japanese government has passed regulations that require biosimilars to be reduced by 31% from their availability at subsidized prices to people of lower socioeconomic classes. In addition, India has the advantage of cheap labor and a strong pharmaceutical industry, these factors are expected to give good growth rate for the APAC regions.

The Top companies leading in the APAC Erythropoietin Drugs Market profiled in the report are Johnson & Johnson, Celltrion, Inc, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd. , Dr. Reddy’s Laboratories Ltd.Amgen, Inc. , F. Hoffmann-La Roche Ltd. , LG Life Sciences Ltd. , Biocon Limited  and Intas Pharmaceuticals Ltd.