Ferric Citrate Market Demand 2022-2030: Rising Prevalence Of Chronic Kidney Disease (CKD) And Iron Deficiency Anemia
The latest market analysis report published by Reports and Data, titled ‘Global Ferric Citrate Market – Forecast to 2030,’ thoroughly examines the Ferric Citrate industry to provide essential data & information for the targeted readers. The report consists of quantitative and qualitative research on the market performed by our market experts. The Ferric Citrate industry report emphasizes the current and upcoming market revenue growth opportunities and trends. Moreover, the report offers key information on the industry statistics, as well as a wide range of dynamic factors including drivers, restraints, risks, challenges, threats, supply & demand ratios, production & manufacturing capacities, sales & distribution networks, cost & demand volatility, import/export ratios, profit margins, and macro-economic and micro-economic factors. The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview. Our market experts have determined the current financial positions of the leading industry players in the report leveraging advanced analytical tools such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.
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The global ferric citrate market is expected to register a revenue CAGR of 4.6% between 2022 and 2030. Rising prevalence of Chronic Kidney Disease (CKD) and iron deficiency anemia are some of the key factors driving ferric citrate market revenue growth. Ferric citrate is used to treat iron deficiency anemia in people with CKD but are not on dialysis treatment as it helps to regulate phosphorus levels in their blood. Rising awareness regarding benefits of ferric citrate to treat these diseases is expected to drive demand for the product over the forecast period. In addition, increasing number of initiatives by governments of various countries across the world to raise awareness about causes symptoms and treatment available for CKD and iron deficiency anemia is also expected to contribute to revenue growth of the market to a significant extent. Moreover, rapidly growing geriatric population globally, and higher chances of CKD and iron deficiency in aged people are expected to support market revenue growth. According to a report by WHO, it is estimated that around 1.7 million people died from CKD in 2015, and this number is expected to increase to 3 million by 2030. However, some of the major factors hampering revenue growth of the market are high cost of ferric citrate and easy availability of alternatives such as oral iron supplements.
The global Ferric Citrate market has significantly grown over the recent past and is expected to register rapid growth over the forecast period of 2021 to 2030. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Ferric Citrate market is significantly driven by factors such as increasing prevalence of chronic diseases, rapid advancements in healthcare and medical sector, high adoption of latest tools and techniques and growing funds by several public and private sectors. In addition, rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Amneal Pharmaceuticals LLC., Pfizer Inc., Mylan N.V., Lannett Company, Inc., Sun Pharmaceutical Industries Ltd., Aurobindo Pharma USA, Inc., Dr. Reddy’s Laboratories Ltd., Zydus Cadila, and Glenmark Pharmaceuticals Ltd.
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Ferric Citrate Market Segmentation:
Product Type Outlook (Revenue, USD Million; 2019-2030)
- Oral Solution
Distribution Channel Outlook (Revenue, USD Million; 2019-2030)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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