“Ability of EPO drugs to reduce healthcare spending is likely to drive the growth of European erythropoietin industry” says RNCOS.
Health expenditures continue to grow rapidly in the European market. According to the Organization for Economic Development and Cooperation (OECD), average healthcare expenditures in OECD countries, such as the France and Germany amongst others, will range from 7.2% to 8.7% of GDP by 2060. This rise in healthcare expenditure is especially being observed in developed nations, such as Spain. In Spain, it will increase from US$ 2,289 (€2,100) per capita in 2015 to US$ 2,447 (€2,245) per capita in 2017.
The rising healthcare expenditure is compelling governments of European countries to search for treatment options for diseases, such as anemia caused by kidney disease, cancer or other reasons, that will help them to recover quickly at lower cost.
According to our report, “European Erythropoietin Market Outlook 2022”, a quicker recovery from anemia with the help of erythropoietin drugs will help people in reducing their hospital bills. Therefore, rising healthcare spending is likely to drive the growth of European erythropoietin industry. The use of EPO is believed to increase oxygen absorption, reduce fatigue and improve endurance by increasing the rate of red cell production. It is also believed that EPO increases the metabolism and the healing process of muscles because the extra red cells carry more oxygen and nutrients.
Many factors influence innovation in medical care. Consumer demand for better health is a prime factor. People and the nation become wealthier; they provide a fertile market for new medical innovations. Health insurance systems that provide payment for new innovations also encourage medical advances. Medical treatments can be very expensive, and their cost would be beyond the reach of many people unless their risk of needing health care could be pooled though insurance (either public or private). The presence of health insurance provides some assurance to researchers and medical suppliers that patients will have the resources to pay for new medical products, thus encouraging research and development.
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