Anemia Drugs Market Projected to Deliver Greater Revenues by 2023
Global Anemia Drugs Market – Overview
Growing awareness and increased investment interest towards developing drugs to combat this condition are contributing favorably to growth of the market. Since anemia significantly affects the quality of life and has also has been found as a causative factor for reducing the survival rates in cancer related cases.
Since anemia is more prevalent in women than in men, the market is majorly driven by them. Increasing rates of anemia diagnosis in pregnant women and deficiency of iron intake in diets and low levels of iron absorption level are causing expansion of the anemia drug market. Certain types of anemia types will be responsible for shaping the anemia drug industry in the forecast period.
According to a report published by Market Research Future on Global Anemia Drugs Market Research Report- Forecast to 2022 states that the global market for Anemia Drugs is worth US$21.4 billion and will grow at an estimated CAGR of 8.4% to reach US$34.7 billion at the end of forecast period by 2022.The global market for anemia drugs is demonstrating a good trend of positive growth.
Global Anemia Drugs Market – Competitive Analysis
With the entry of industry players in the anemia drug segment, a trend of solid, volume-driven growth has been observed in the market with the introduction of various types of drugs for different uses. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
Some of the key players in this market are Amgen Inc., GlaxoSmithKline plc, Bluebird bio, Biocon, GlycoMimetics Inc. Some of the other prominent players are Regen biopharma Inc., Bayer AG, Acceleron Pharma, Eli Lilly and company and others.
Latest Industry News:
April 2017 Akebia Therapeutics, Inc. and Otsuka Pharmaceutical Co., Ltd. announced that they have expanded their collaboration for vadadustat by entering into a collaboration and license agreement for Europe, China and other territories. Under the terms of this collaboration agreement, Akebia will receive $208 million or more in committed capital from Otsuka, including $73 million upon signing and $135 million or more of development funding. The companies are equally sharing the costs of developing and commercializing vadadustat in the U.S., as well as the profits from potential future sales of vadadustat in the billion dollar worth renal anemia market.
Jan 2017 A first-in-class drug for anemia caused by chronic kidney disease (CKD) has been developed by FibroGen and AstraZeneca which has cleared two phase III studies in China and will be filed for approval before the end of 2017.
October 2017 Amgen Inc. has entered in an agreement to buy Kirin-Amgen, its joint venture with Japan-based Kirin Holdings Co., for $780 million. Amgen and Kyowa Hakko Kirin, the biopharmaceutical arm of Kirin, formed the 50-50 partnership in 1984 to develop Epogen, a drug used to promote the growth of red blood cells in patients with anemia