According to a study of Future Market Insights (FMI), anemia treatment market will surpass US$ 7.8 billion in 2019. More than 70% of the anemia treatment is sought for normocytic anemia, followed by microcytic anemia. Most of the demand for anemia treatment is driven by the condition as a result of one or more chronic diseases, according to a new research study by Future Market Insights.
One of the non-communicable chronic conditions responsible for the epidemiological transition of developing regions, chronic kidney disease (CKD) is a key factor fuelling demand for anemia treatment. Anemia treatment market is also receiving a strong impetus from the rising popularity of combination therapy. Increasing use of vitamin and iron supplements, antibiotics, metal chelating agents, and erythropoietin stimulating agents in combination therapy is cited as in important factor pushing prospects of anemia treatment market in upcoming years.
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Vitamin Supplements Gains Significant Traction for Anemia Treatment
A surge in R&D investments is prominently improving scope of anemia treatment. Moreover, a rising number of pipeline drugs and promising potential of biosimilars will contribute to the demand for anemia treatment. However, high price point associated with biologics continues to mask their superior treatment efficacy over conventional medications.
More than 75% of anemia treatment market revenue is accounted by medications, of which, ESAs (erythropoietin stimulating agents) remain bestselling. Blood transfusion also cited as an important type of anemia treatment, contributing to the market growth. However, the demand for former is poised for a robust double-digit yearly growth in 2019 and ahead.
Lucrative emergence of ESAs and soaring consumption of other biosimilar medications are likely to introduce new investment opportunities in anemia treatment market. Extensive availability, accessibility, and economic price point of biosimilar drugs is strongly backed by an increasing number of FDA approvals. This according to FMI will significantly contribute in improvement of CKD, thereby bolstering the revenue of anemia treatment market. FDA recently issued an approval to a biosimilar drug by Pfizer for use in anemia treatment – Retacrit (epoetin alfa-epbx).
Over 55% of dietary supplements consumed as a part of anemia treatment are vitamin supplements. An increasing number of iron deficient patients will reportedly result in rapid demand growth of iron supplements in years to come, posing strong competition to that of vitamin supplements in the anemia treatment market. Currently, almost 60% of the medications and dietary supplements for anemia treatment is available at institutional pharmacies. The report also points to a gradually expanding share of retail pharmacies in the near future.
Just-under a third of the global demand for anemia treatment is raised by North American patients, whereas more than a third of the total demand is accounted collectively by East and South Asia. Europe is also cited as one of the key regional markets for anemia treatment providers.
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Product-based Business Models Emerge as a Key Competitive Strategy
The consistent quest for therapeutically effective ESAs, dietary supplements, antibiotics, and other biologics to be used in anemia treatment continues to create attractive avenues in the R&D realm. Leading drug manufacturers are investing efforts in launching novel products and upgrading their existing consumable product portfolios. Amgen’s epoetin alpha has been a breakthrough product since its launch in the CKD treatment landscape and growing adoption continues to benefit the company.
Besides augmenting R&D investments, prominent players in anemia treatment market are also focusing on strategic agreements and partnerships – further paving the way for development of anemia treatment drugs. Emergence of partnership-based models in the competitive landscape of anemia treatment market is likely to reshape R&D structure in the anemia treatment market. The report prompts at major investment opportunities arising in open collaboration strategies. A number of drug manufacturers are also opting for partnerships with regional distribution leaders to form effective product-based distribution channels, particularly targeting developing regional markets.