What substance is used to correct the chronic anemia associated with chronic renal failure?

Erythropoietin (EPO) is the substance commonly used to correct chronic anemia associated with chronic renal failure. In patients with renal failure, the kidneys produce less erythropoietin, leading to decreased red blood cell production. Administering synthetic EPO helps stimulate the bone marrow to produce more red blood cells, thereby improving anemia. Additionally, iron supplementation may be necessary to support this process.