Iron Deficiency Anemia Treatment Market
A prominent research firm, Cognizance Market Research added a cutting-edge industry report on "Iron Deficiency Anemia Treatment Market". The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2023 to 2030.
Iron Deficiency Anemia Treatment Market Analysis
According to cognizance market research the iron deficiency anemia treatment market is valued at US$ 3.75 Billion and is anticipated to reach US$ 13.4 Billion by the end of 2030 with expected to register a CAGR of 17.3% from 2023 to 2030.
What is Iron Deficiency Anemia Treatment?
One of the most prevalent types of anemia that develops when the body does not have enough iron is iron deficiency anemia. Low levels of healthy red blood cells are the source of anemia, a medical disease. The body's organs receive oxygen from red blood cells (RBCs). Haemoglobin, a component of red blood cells, is made in large part by iron. Less oxygen in the organism is indicated by a haemoglobin deficit. Therefore, maintaining iron levels is crucial. The human organism requires iron for the transportation of oxygen. Consuming meals high in iron, such as meat, veggies, fruits, and grains, can help avoid it. In addition, vitamin C protects against iron deficiency anemia. Lack of iron consumption, poor iron assimilation, pregnancy, and endometriosis are some of the factors that contribute to iron deficiency anemia. Fatigue, exhaustion, rough and dry skin, tachycardia, neurocognitive failure, restless legs syndrome, trouble breathing, or pain in the upper body are signs of iron deficiency anemia.
Iron Deficiency Anemia Treatment Market Outlook
Market expansion is anticipated to be impacted by the rising incidence of iron deficiency anemia. Additionally, market trends would be impacted by the increasing incidence of chronic renal illness over the course of the forecast period. Growing healthcare expenditure, which contributes to infrastructure development, is another important element influencing the market for treating iron deficiency anemia in terms of revenue growth. The market for treatments for iron deficiency anemia is additionally anticipated to be driven by increasing discretionary income and a rise in the risk of haemodilution. Additionally, it is anticipated that an aging populace and sedentary lifestyles will fuel market income development. The industry is expanding as a result of an increase in R&D efforts. This would present favourable opportunities for the market for treating iron deficiency anemia to grow. Additionally, rising drug launches and clearances are anticipated to fuel market revenue development. Additionally, businesses are putting an emphasis on frequent clinic appointments, ideal supplement dosages, and programme monitoring in order to boost market revenue development over the projection term.
The therapy's costly price will reduce the market's rate of expansion. The iron-deficiency anemia treatment business will face difficulties due to a dearth of skilled workers and a weak healthcare system in developing countries. Additionally, it is anticipated that a dearth of understanding among people will act as a barrier and slow the market's revenue development over the course of the projection period.
The iron deficiency anemia treatment market has been segmented into drug type, dosage form, distribution channel and geography.
Based on drug type, the iron deficiency treatment market is further segmented into ferrous sulphate, ferrous gluconate, ferrous fumarate, ferric hydroxide, sodium ferric gluconate, iron carbohydrates and others. The market for iron deficiency anemia treatment was dominated by the ferrous sulphate sector, and this pattern is anticipated to last throughout the forecast period. The ferrous sulphate market is expected to grow as a result of its availability in generic form, cheap cost, and increased choice in the treatment of iron deficiency anemia.
Based on dosage form, the iron deficiency treatment market has been classified into tablets, capsules and liquid. The tablet segment is the leading one in the iron deficiency anemia treatment market because it is the most stable, inexpensive and widely available dosage form.
Based on distribution channel, the market for iron deficiency treatment is further segmented into hospital pharmacies, retail pharmacies and online pharmacies. Due to advantages like personalized prescription plans, high-quality medication, and a rise in hospital pharmacies in emerging nations, the hospital pharmacies segment ruled the market.
Based on geography the iron deficiency treatment market has been segmented into five main regions namely, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. During the forecast period, North America is anticipated to hold a significant market position for iron deficiency anemia treatments worldwide. The market in the region is primarily being driven by the rising incidence of chronic kidney diseases and the rising patient population of iron-deficient women in North America, which has resulted in a rise in demand for treatments for iron deficiency anemia. The CDC projects that 37 million individuals in the United States, or 15% of the population, will have chronic renal disease by 2020. Additionally, 15% of women and 12% of males have CKD. Furthermore, the prevalence is higher in the nation's 65 and senior population.
Due to the existence of local and international companies as well as the rising demand for the treatment of iron deficiency anemia in the region, the market in Europe is predicted to grow at a rapid CAGR in the near future. In the near future, the Asia Pacific market for the therapy of iron deficiency anemia is anticipated to expand quickly. During the forecast period, India and China are expected to be lucrative marketplaces for the therapy of iron deficiency anemia. Over the next few years, it is anticipated that the presence of a sizable geriatric patient group with iron deficiency and a rise in healthcare spending in these nations will drive the market in Asia Pacific.
The report offers the revenue of the iron deficiency anemia treatment market for the period 2020-2030, considering 2020 & 2021 as a historical year, 2022 as the base year and 2023 to 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the iron deficiency anemia treatment market for the forecast period. The iron deficiency anemia treatment market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the iron deficiency anemia treatment market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the iron deficiency anemia treatment market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the iron deficiency anemia treatment market. Secondary research involved a detailed analysis of significant players’ product portfolio. Literature review, press releases, annual reports, white paper, and relevant documents have been also studied to understand the iron deficiency anemia treatment market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segmented included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the iron deficiency anemia treatment market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the iron deficiency anemia treatment market. The subsequent section of the iron deficiency anemia treatment report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Iron Deficiency Anemia Treatment Market Competitive Landscape
The study provides a detailed analysis of the major participants in the global market for treating iron deficiency anemia, including the sponsors who produce the drugs and conduct the FDA clearance studies for them. The following list of companies have presence in the market:
- Akebia Therapeutics, Inc.
- AMAG Pharmaceuticals
- American Regent, Inc.
- Amgen Inc.
- Bayer Ag
- Covis Group S.
- Hoffmann-La Roche Ltd.
- Janssen Pharmaceuticals, Inc.
- Merck & Co.
- Novartis AG
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- Zydus Lifesciences Ltd.
Zydus' New Drug Application (NDA) for Oxemia was approved in 2022 by the Drug Controller General of India. Chronic renal disease-related anemia is treated with Oxemia, a sublingual, small-molecule inhibitor of hypoxia-inducible factor-prolyl hydroxylase (HIF-PH). (CKD).
In 2018, the U.S. Food and Drug Administration (FDA) approved AMAG Pharmaceuticals' Feraheme for the treatment of iron deficiency anemia in individuals who are tolerant to dietary iron therapy but do not get significantly better after taking it.
The report explores the competitive scenario of the iron deficiency anemia treatment market. Major players operating in the iron deficiency anemia treatment market have been identified and profiled for unique commercial attributes. Company overview (company description, Type portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the iron deficiency anemia treatment market report.
Iron Deficiency Anemia Market, by Drug Type
- Ferrous Sulphate
- Ferrous Gluconate
- Ferrous Fumarate
- Ferric Hydroxide
- Sodium Ferric Gluconate
- Iron Carbohydrates
Iron Deficiency Anemia Treatment Market, by Dosage Form
Iron Deficiency Anemia Treatment Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Iron Deficiency Anemia Treatment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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The major players operating in the iron deficiency market are Amgen Inc., F. Hoffmann-La, Roche Ltd, Novartis AG, Pfizer Inc, Janssen Pharmaceuticals, Inc., AMAG Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Zydus Lifesciences Ltd., Covis Group S., Apotex, Akebia Therapeutics, Inc., American Regent, Inc., Bayer Ag, Merck & Co.
The increased prevalence of iron deficiency anemia, rising prevalence of chronic renal disease, rising disposable income and increase in the risk of haemodilution, growing elderly population and sedentary lifestyles are the driving factors in the iron deficiency anemia treatment market.
The high cost of the therapy, shortage of experienced personnel and a lack of healthcare infrastructure in emerging nations, lack of knowledge among individuals are some of the challenges faced by iron deficiency treatment market.
The market's growth is being propelled by an increase in the number of R&D activities, growing medication approvals and launches.