New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Anemia And Other Blood Disorder Drugs Global Market Report 2023" - https://www.reportlinker.com/p06245020/?utm_source=GNW
, Novartis AG and Janssen Pharmaceutical.
The global anemia and other blood disorder drugs market will grow from $11.14 billion in 2022 to $11.87 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The anemia and other blood disorder drugs market is expected to grow to $14.80 billion in 2027 at a CAGR of 5.7%.
The anemia and other blood disorder drugs market consists of sales of folate analogues, multivitamin and mineral supplements, iron supplements, and erythropoiesis-stimulating agents.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Anemia and Other Blood Disorder Drugs refer to the medications or drugs that are used to treat anemia and other blood disorder diseases.It refers to a blood condition that develops when a medication prompts the body’s immune system to begin attacking its own red blood cells.
Hemolysis, a process that causes red blood cells to degrade earlier than usual, is brought on by this.
North America is the largest region in the anemia and other blood disorder drugs market in 2022.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in the anemia and other blood disorder drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of anemia and other blood disorder drugs are iron deficiency anemia, chronic kidney disease anemia, sickle cell anemia, and aplastic anemia.Iron deficiency anemia is a common kind of anemia in which the blood does not contain enough healthy red blood cells.
The oxygen-carrying red blood cells transport oxygen to the body’s cells.The different types of anemia include microcytic (Low MCV), normocytic (Normal MCV), and macrocytic (High MCV) and involve various routes of administration such as oral, and injectable.
It is distributed through hospitals pharmacies, online pharmacies, and pharmacy.
The increasing prevalence of anemia among the global population acts as a strong driving factor for the market.Unhealthy lifestyles, changing dietary habits and increased stress levels increased the cases of anemia worldwide.
For instance, anemia was found to be the most frequent disease in the elderly population (> 65 years of age), reaching a prevalence rate of around 17%. the World Bank reported that anemia is the 8th leading cause of disease among women and the young population. Growth in the prevalence rate of anemia drives the market.
There has been an increase in the use of biologics for treating anemia and other blood disorders.Biologics are composed of protein, sugar, nucleic acids, or a combination of these substances or might be derived from living organisms like humans, animals, or microorganisms or that may contain components of living organisms.
The growth in the use of biologics over the drugs restricts the market resulting in the decline of the number of drugs being used for the treatment of anemia& other blood disorders.For example, Hospira, a medical device and pharmaceutical company, submitted its first biologics license application to FDA for the approval of a drug that treats anemia.
Moreover, the FDA approved the first Epoetin Alfa biosimilar for the treatment of anemia caused by chronic kidney disease, chemotherapy, or the use of zidovudine in patients with HIV infection. The increase in the use of biologics will hamper the growth of the market.
Companies in the anemia and other blood disorder drugs market are collaborating with other companies to develop and commercialize a specific kind of drug by sharing the knowledge, technology, and cost.Such collaborations are also helpful to the companies in case of expiring licenses and a stringent regulatory environment.
For example, in 2020, Akebia Therapeutics announced collaboration with Tobacco Inc to treat adult patients with iron deficiency anemia. Another such example is, Akebia Therapeutics Inc. and Otsuka Pharmaceutical Co. Ltd. agreed to manufacture and commercialize vadadustat, an oral HIF stabilizer, used for the treatment of anemia.
The anemia and other blood disorder drugs market is governed by several regulatory bodies that regulate their functioning by carrying out quality checks for that drug before it can be launched in the market. For instance, the U.S. Food & Drug Administration (FDA) requires every pharmaceutical company to get its drugs examined by the concerned authority. FDA sorts to a Risk Evaluation and Mitigation Strategy (REMS) for determining the safety and quality standards of the drug and grants approvals only if the standards are up to the mark.
In October 2022, Pfizer, a US-based pharmaceutical company acquired Global Blood Therapeutics Inc. for an undisclosed amount. Through this acquisition, Pfizer expanded its portfolio in the development of drugs and brought various potential best-in-class treatments to people living with sickle cell disease. Global Blood Therapeutics Inc is a US-based biotech company operating in anemia and other blood disorder drugs.
The countries covered in the anemia and other blood disorder drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The anemia and other blood disorder drugs market research report are one of a series of new reports that provides anemia and other blood disorder drugs market statistics, including anemia and other blood disorder drugs industry global market size, regional shares, competitors with anemia and other blood disorder drugs market share, detailed anemia and other blood disorder drugs market segments, market trends and opportunities, and any further data you may need to thrive in the anemia and other blood disorder drugs industry. This anemia and other blood disorder drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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