Telemedicine Is Fastest Growing Segment Fueling The Growth Of Recombinant Erythropoietin Market

https://www.coherentmarketinsights.com/market-insight/recombinant-erythropoietin-market-5960
Recombinant Erythropoietin Market


 Market Overview:

Recombinant erythropoietin or Epoetin alfa is a biosimilar drug used for the treatment of anemia. It stimulates the production of red blood cells and helps increasing hemoglobin levels in chronic kidney disease and cancer patients undergoing chemotherapy.

Market key trends:
One of the key trends in the recombinant erythropoietin market is increasing adoption of telemedicine. The COVID-19 pandemic has accelerated the utilization of telemedicine platforms for non-emergency visits. This has substantially reduced the load on hospital outpatient departments. Many patients are preferring online e-visits over conventional physical visits due to convenience and safety. Healthcare providers are also promoting online consultations for managing chronic conditions like renal anemia. This reduces costs for patients as well as providers and ensures continuity of care. It is estimated that telemedicine will account for over 20% of total outpatient visits by 2025.

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.

Segment Analysis
The global recombinant erythropoietin market is dominated by the chronic kidney disease sub-segment. The chronic kidney disease sub-segment accounts for around 80% of the total market share due to the increasing prevalence of chronic kidney disease globally. Chronic kidney disease requires long term treatment and erythropoietin plays a vital role in managing the anemia associated with chronic kidney disease.

Key Takeaways
The global recombinant erythropoietin market is expected to witness high growth, exhibiting a CAGR of 2.0% over the forecast period, due to an increasing prevalence of chronic kidney disease and cancer globally.

Market size: The global recombinant erythropoietin market size was valued at US$ 7.01 Bn in 2023 and is expected to reach US$ 8.30 Bn by 2030.

Regional analysis: North America dominates the global market with around 40% share due to advanced healthcare facilities and awareness about treatment of anemia. Asia Pacific is expected to be the fastest growing market owing to the increasing incidence of chronic kidney disease in countries like China and India.

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. Amgen Inc. holds the leading position due to its wide portfolio of erythropoietin products.

Read More: https://www.dailyprbulletin.com/anemia-treatment-to-boost-growth-of-recombinant-erythropoietin-market-size-and-share-analysis/

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