As per the research report, the size of the Latin America Erythropoietin Drugs Market was valued at USD 1.09 billion in 2022 and estimated to be growing at a CAGR of 9.87%, to reach USD 1.74 billion by 2027 during the forecast period 2022 to 2027.
DRIVERS
The increasing prevalence of anemic diseases induced by end stage renal disease treatment, chemotherapy, and antiretroviral therapy (ART) is the major driver for the growth of the Erythropoietin market. Therefore, the increase in the number of treatment cycles for chemotherapy and the increase in the incidence of end stage renal disease (dialysis) have increased the demand for erythropoietin drugs.
Stem cell therapies are expected to gain popularity in the near future for the treatment of anemic conditions. Cellular assays are easy to develop, cost effective, and require less time for approval than biologics. These associated advantages are expected to drive the growth of the segment during the forecast period. The companies are involved in extensive R&D initiatives for the development of innovative molecules and the discovery of new therapeutic areas for existing drugs.
Additionally, increasing marketing trends for erythropoietin stem cell therapies, readily available discounts and favorable government regulations, along with growing awareness of the benefits of erythropoietin drug therapies are fueling the growth of the market.
RESTRAINTS
Side effects associated with EPO including high blood pressure, iron deficiency and influenza like illness, and longer duration of EPO treatment (4-6 weeks) are limiting drug market growth erythropoietin based
OPPORTUNITIES
After Abbreviated New Drug Applications (ANDAs) after approvals and the high success rate of EPO applications for chemotherapy-induced anemia, the original biopharmaceutical companies have turned their attention to another form of anemia induced, ART-induced anemia (in patients with HIV).
EPO has other beneficial cellular protective effects, including anti-ischemic, regenerative and anti-apoptotic effects on a variety of tissues including the lungs, kidneys, heart muscle, nervous system, retina, pancreas, and endothelial cells. Expects approve of its protective effects after trauma in critically ill patients. Therefore, the impact of the COVID-19 pandemic is expected to remain positive for the major companies in the erythropoietin drug market.
CHALLENGES
The high cost of manufacturing erythropoietin, especially in developing countries, can be a drag on its growth.
This research report on the Latin America Erythropoietin Drugs Market has been segmented and sub-segmented into the following categories:
By Product:
By Application:
By Drug Class:
By Country:
REGIONAL ANALYSIS
Erythropoietin targets the major cities in the Latin American region. The region has the greatest participation in the bio-pharmaceutical industry, due to the development of cellular assays by the major manufacturers in these regions. Brazil and Argentina are the main markets for erythropoietin bio assays. The cost involved in the development of cellular assays in Latin America ranges from $ 10 to $ 20 million, due to the industrial environment and government laws in developing regions of Peru, Ecuador, Chile and Mexico etc.
Factors such as the increasing rates of chronic diseases in the population such as cancer, kidney failure, HIV / AIDS, as well as the presence of good healthcare facilities, increased investment in new drug discovery activities led the Latin American regions to have a steady demand for erythropoietin drugs. Many Latin American regions are also expected to have a good demand for EPO drugs due to its large geriatric population. But supply is expected to be lesser than expected due to lack of funds and time consuming production period.
Prominent companies leading in the Latin America 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.
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