Latest News- Renal Anemia Therapeutics Market: IV is expected to lead the Type segment during 2024-2028

The Renal Anemia Therapeutics Market is being driven by Presence of large pool of CKD patients

The Renal Anemia Therapeutics Market is expected to grow at a CAGR of 7.59% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.08 billion. Biosimilar renal anemia therapeutics, such as biosimilar epoetins, mimic the structure, efficacy, and safety of their reference biologics. These medications undergo rigorous regulatory processes to ensure they meet the same safety, effectiveness, and quality standards as their reference counterparts. The use of biosimilar epoetins in patients with anemia and chronic renal disease in Europe for the past decade has proven beneficial, leading to substantial cost savings without compromising patient care. The affordability of these biosimilars expands patient access to essential treatments and reduces healthcare expenditures in an economically efficient manner. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • IV
  • Oral
• Distribution Channel
  • Hospital pharmacy
  • Retail pharmacy
  • Online pharmacy
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Presence of large pool of CKD patients
• Growing geriatric population
• New drug approvals for renal anemia therapeutics

However, the market also witnesses some limitations, which are as follows:

• Side-effects of oral administration of renal anemia drugs
• High cost of drugs used in renal anemia therapy
• Stringent government regulations regarding renal anemia drugs

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Market Scope in Renal Anemia Therapeutics Market Research Report

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Research Analysis Overview

The Renal Anemia Therapeutics Market caters to the treatment of anemia associated with chronic kidney disease, specifically Normocytic and Normochromic types. This condition, often caused by etiologies like junk food consumption, iron deficiency, blood loss, or high RBC destruction, increases mortality risk due to impaired renal function and reduced blood cell production. Anemia affects various organs and tissues, including the brain and heart, leading to cardiovascular complications in diabetes, hypertension, and cardiovascular diseases. Drug development focuses on erythropoietin hormone and its derivatives like Erythropoietin, as well as iron supplements like Ferumoxytol and Vitamin B12, to address the underlying causes of anemia.

Market Research Overview

The global renal anemia therapeutics market is a significant segment of the larger pharmaceuticals industry within the healthcare sector, according to Technavio's market research. This market encompasses businesses involved in the research, development, and manufacturing of drugs addressing anemia resulting from chronic kidney diseases, specifically normocytic and normochromic types with hyperproliferative characteristics. Factors driving the growth of the broader pharmaceuticals market include the increasing global population aging, resulting in a larger demographic susceptible to chronic diseases such as renal anemia, caused by conditions like iron deficiency, vitamin B12 deficiency, or folate deficiency, as well as the consumption of junk food. These factors contribute to the increased demand for renal anemia therapeutics to address the production of insufficient red blood cells in affected individuals.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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