Iron Deficiency Anemia Treatment Market Size, Growth, Trends, Forecast 2021-2030

According to latest report study, the global iron deficiency anemia treatment market reached value at US$ 9.3 Bn in 2020 and projected to hit over US$ 22.5 billion by 2030.

The global iron deficiency anemia treatment market growth is anticipated to expand at a CAGR of 9.2% from 2021 to 2030. Iron deficiency is the most common cause of anemia globally. Rise in prevalence of chronic kidney diseases, increase in risk of hemodilution in pregnant women, and surge in iron deficiency in individuals are the major factors anticipated to drive the global iron deficiency anemia treatment market during the forecast period.

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Rise in Prevalence of Iron Deficiency Anemia to Drive Market

Increase in prevalence of iron deficiency anemia across the globe is likely to drive the global iron deficiency anemia treatment market during the forecast period. Iron deficiency anemia is a common type of nutritional anemia and considered a major public health problem globally. It results in low level of hemoglobin in the blood. According to the WHO, anemia affects 1,500 million to 1,740 million people globally, with 50% of all anemia attributed to iron deficiency. Moreover, a study conducted for national primary care database in Germany, Belgium, Spain, and Italy, states that the annual incidence rate of iron deficiency anemia ranged from 7.2 to 13.9 per 1,000 person-years.

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Ferrous Sulfate, Divalent Iron Salts Fuel Innovations in Iron Supplements

Apart from iron supplements, manufacturers in the iron deficiency anemia treatment market are making advancements in intravenous (IV) infusion treatments for patients with chronic illnesses. New possibilities for iron supplementation with the help of antiplatelet drugs, anticoagulants, and anti-inflammatory drugs are projected to bolster market growth. Manufacturers are developing improved formulations in drugs involving ferrous sulfate, gluconate, and iron fumarate, owing to their better bioavailability than other compounds. They are innovating in drugs containing divalent iron salts, since these drugs are relatively cheap for purchase in pharmacies and drug stores.

Scope of The Report

Report Highlights

In terms of drug type, the global iron deficiency anemia treatment market has been classified into ferrous sulfate, ferrous gluconate, ferrous fumerate, ferric hydroxide, sodium ferric gluconate, iron carbohydrates, and others. The ferrous sulfate segment dominated the global iron deficiency anemia treatment market in 2020 and the trend is projected to continue during the forecast period. The availability in generic form, low cost, and higher preference in the treatment of iron deficiency anemia is anticipated to boost the ferrous sulfate segment.

In terms of dosage form, the global iron deficiency anemia treatment market has been categorized into tablets, capsules, and liquid. The tablets segment held major share of the global iron deficiency anemia treatment market in 2020. Tablet is the most stable, inexpensive, and widely available dosage form for the treatment of iron deficiency anemia. High acceptance of tablet dosage form in hospital inpatient and outpatient settings, rise in disposable income, and increase in government support are likely to drive the segment in the near future.

Based on distribution channel, the global iron deficiency anemia treatment market has been divided into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the market in 2020, owing to benefits such as individualized medication plan and quality medication and increase in the number of hospital pharmacies in developing countries.

North America is projected to account for a leading share of the global iron deficiency anemia treatment market during the forecast period. Rise in prevalence of chronic kidney diseases and increase in patient base of iron deficient women in North America leading to a surge in demand for iron deficiency anemia treatment are major factors driving the market in the region. According to the CDC, in 2020, 15% of the U.S. adults i.e., 37 million people are anticipated to have had chronic kidney disease. Moreover, 15% women are suffering from CKD compared to 12% men. Furthermore, it is more common in people aged 65 years or older in the country. The market in Europe is expected to expand at a high CAGR in the near future, owing to the presence of local as well as global players and rise in demand for iron deficiency anemia treatment in the region.

The iron deficiency anemia treatment market in Asia Pacific is likely to grow at a rapid pace in the near future. India and China are anticipated to be lucrative markets for iron deficiency anemia treatment during the forecast period. Presence of large geriatric patient population with iron deficiency and increase in healthcare expenditure in these countries are projected to propel the market in Asia Pacific over the next few years.

Key Players

Key players operating in the global iron deficiency anemia treatment market are AdvaCare Pharma, Akorn, Sun Pharmaceutical Industries Ltd., Akebia Therapeutics, Inc., Rockwell Medical, Inc., Vifor Pharma Management Ltd., Shield Therapeutics, AMAG Pharmaceuticals, and Pharmacosmos A/S.

Market Segmentation

By Drug Type

• • Ferrous Sulfate
  • Ferrous Gluconate
  • Ferrous Fumerate
  • Ferric Hydroxide
  • Sodium Ferric Gluconate
  • Iron Carbohydrates
  • Others

By Dosage Form

• • Tablets
  • Capsules
  • Liquid

By Distribution Channel

• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

By Region

• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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