The EPO biomarkers market is anticipated to reach a valuation of US$ 118.05 billion by 2032, with a significant CAGR of 5.3 %. In 2022, the demand for EPO biomarkers is growing steadily and has a worth of US$ 63.52 billion.
Growing sedentary lifestyles and poor dietary practices that have raised the occurrence of malignancies and chronic renal illnesses in emerging economies are major factors driving the growth of the global EPO biomarkers market.
Moreover, the demand for EPO biomarkers is also rising since end-stage renal illnesses and hematological diseases are becoming more common. The entry of novel EPO biomarkers into the market is considerably growing as a result of the EPO biomarkers' patents expiring.
The American Cancer Society (ACS) states that there were 246,660 new cases of breast cancer in 2020. In 2020, 41,760 breast cancer-related deaths are anticipated.
In 2020, there were 41,300 new cases of breast cancer in the UK. In 2020, there were about 69,000 new instances of breast cancer in France.
Around 42,000 more instances of breast cancer are anticipated in Italy by the year 2020.
In Germany, there were over 76,000 new cases of breast cancer in 2020. According to the ACS report, 13,800 additional cases of cervical cancer were anticipated in 2020.
Attributes
Details
EPO Biomarkers Market CAGR (2022 to 2032)
5.3%
EPO Biomarkers Market Size (2022)
US$ 63.52 billion
EPO Biomarkers Market Size (2032)
US$ 118.05 billion
Erythropoietin is special type of protein biomarker, also known as a growth factor. It acts by the stimulating the bone marrow to manufacture red blood cells. There are five different types of erythropoietin biomarkers such as epoetin alfa, epoetin beta, epoetin zeta, epoetin theta and darbepoetin alfa.
Erythropoietin is mostly administered subcutaneously as an alternative to iron supplements. Erythropoietin used in human beings is also known as recombinant human erythropoietin (rHuEPO). Commercially available rHuEPO has the same 165 amino acid sequence as available in naturally occurring hormone but the level of glycosylation in rHuEPO depends on the testing method used.
Growing global incidence of renal diseases and cancers is expected to create a marked increase in use of EPO biomarkers.
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Accuracy to hold the key for Deeper Market Penetration
As EPO biomarkers can be used to identify and diagnose several types of cancers, thus, their use has grown over the past few years. Comparing EPO biomarkers to other types of biomarkers like CA125, CA15-3, PSA, and others, it is known that they are more sensitive, specific, and accurate.
Therefore, it is anticipated that during the forecast period, the demand for more accurate and reliable diagnostics and therapeutics is likely to increase along with the number of oncology patients.
The high potential for revenue in the EPO biomarkers market draws potential investors. Increased awareness of the advantages of early diagnosis, an increase in the frequency of chronic diseases, a boom in the biotechnology and pharmaceutical industries, and technological advancements in biomarker detection leads to the higher adoption of EPO biomarkers.
Due to the increasing launch and adoption of Erythropoietin Alfa in cancer patients who suffer from anemia, the EPO biomarkers market is anticipated to experience significant growth over the course of the forecast period.
For instance, in November 2018, Pfizer introduced Retacrit, an Epoetin Alfa biosimilar, at a price that was 33% lower than that of the brand-name medications in the United States to treat anemia brought on by chemotherapy and chronic kidney disease.
EPO Biomarkers Market: Drivers & Restraints
The prime drivers for the market include growing incidence of cancers and renal diseases. Changes in lifestyle and improper eating habits contribute to pancreatic and endocrine cancers, which often lead to severe anaemia, where external erythropoietin infusion is required. Other drivers for the EPO biomarker market is technological advancement in devising proprietary testing methods apart from tried and tested ones.
Restraints for the market include lack of availability of skilled labour and sufficient quality controlled testing laboratories in most countries in less developed regions. Insufficient R&D in identification of biomarkers due to adoption of cost cutting measures in European regions is expected to restrain proper quantitative assessment of drugs and their therapeutic efficacy in blood.
This could also hamper progress of ongoing clinical trials and proper stratification of patients.
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EPO Biomarkers Market: Overview
EPO biomarker market is account to rise in value during the forecast period. Due to expansion in the product segment of EPO biomarkers the market share will be rising with a promising rate, also with the increase in demand for diagnosis and treatment of widely spread chronic disease the EPO market is expected to grow with a promising CAGR during the forecast period.
Biologic drug industry is investing on R&D and the key players are focusing on increasing their production capacity for EPO biomarkers.
EPO Biomarkers Market: Region-wise Outlook
Considering all potential geographic regions, EPO biomarkers market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific and Middle East & Africa.
North America is been dominating in the EPO biomarkers due to rise in acceptance for bio-similar weakly followed by Western and Eastern Europe, Asia Pacific has a dominating presence in EPO biomarker market and most of the key players are locally producing the EPO biomarkers, that is enhancing their market share and product reach. There is a good opportunity for Japan in EPO biomarker market.
The emerging regions in Asia Pacific, Middle East and Africa holds promising future for rise in EPO biomarker market, due to increase in awareness towards the chronic disease and increase in population simultaneously.
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report covers exhaustive analysis on
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes
North America (U.S., Canada)
Latin America (Mexico, Brazil)
Western Europe (Germany, Italy, U.K, Spain, France, Rest of Western Europe)
Eastern Europe (Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
EPO Biomarkers Market: Segmentation
EPO Biomarkers is classified on the basis of biomarker, indication, testing method and end user type:
Based on biomarker type, the global EPO Biomarkers is segmented into the following:
Recombinant human erythropoietin
Erythropoietin alfa
Erythropoietin beta
Erythropoietin zeta
Erythropoietin theta
Darbepoietin alfa
Based on indication, the global EPO Biomarkers is segmented into following:
End stage renal disorder
Cancers
Rheumatoid arthritis
AIDS
Others
Based on end users, the global EPO Biomarkers is segmented into the following:
