According to Nova one advisor, the global Iron Deficiency Anemia Treatment market was valued at USD 10.1 Billion in 2020 and it is expected to hit around USD 21.9 billion by 2030 with a CAGR of 8.7% during the forecast period 2022 to 2030.
According to Nova one advisor, the global Iron Deficiency Anemia Treatment market was valued at USD 10.1 Billion in 2020 and it is expected to hit around USD 21.9 billion by 2030 with a CAGR of 8.7% during the forecast period 2022 to 2030.
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The most prevalent cause of anemia across the world is deficiency of iron. Rise in the occurrence of chronic renal disorders, individual iron deficiency, and spike in the likelihood of hemodilution in pregnant women are expected to drive the global iron deficiency anemia treatment market during the forecast period, from 2020 to 2030.
As per the WHO, anemia affects between 1.5 and 1.74 billion individuals worldwide, with iron deficiency accounting for half of the total anemia cases. Such high prevalence of iron deficiency anemia is anticipated to work in the favor of the global iron deficiency anemia treatment market.
Anemia and iron metabolism may play a significant role in multiple organ dysfunction syndrome during the ongoing COVID-19 infection. Coronavirus is more likely to infect patients who are iron deficient. As a result, companies in the global iron deficiency anemia treatment market have expanded their manufacturing capabilities to bridge the gap between demand and supply at hospitals and pharmacies.
The global iron deficiency anemia treatment market is expected to grow at a CAGR of 8.7% during the forecast period. Pharmaceutical firms in this market are focusing on India, where substantial share of the female population is anemic.
Iron Deficiency Anemia Treatment Market: Growth Drivers
- Due to cost-effectiveness, abundant supply, and reliability, the tablet form is gaining in popularity in the management and treatment of iron deficiency. This factor is expected to drive the market in the near future.High adoption of tablet dosages in both inpatient as well as outpatient settings is expected to augment the demand for this dosage form in the market.
- As there is a possible link between COVID-19 and anemia, major pharmaceutical firms have increased output capacities of drugs as well as other medications. This factor is likely to benefit the growth of the iron deficiency anemia treatment market during the forecast period.
- Report Coverage
| Report Scope | Details |
| Market Size | USD 21.9 Billion by 2027 |
| Growth Rate | CAGR of 8.7% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Drug Type, Dosage Form, Distribution Channel And Region |
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Key Findings of Market Report
- Developments in Iron Supplements Supported by Divalent Iron Salts and Ferrous Sulfate
Besides offering iron supplements, players in the global iron deficiency anemia treatment market are making advancements in intravenous (IV) infusion solutions for patients suffering from chronic conditions. New iron supplementation options are expected to boostthe growth of the market. The use of antiplatelet medicines, anti-inflammatory medications, and anticoagulants are supporting these programs.
As iron fumarate, gluconate, and ferrous sulfate have higher bioavailability than other compounds, companies have been working to develop better formulations. They are focusing on new medicines that include divalent iron salts. They are offering inexpensive drugsat pharmacies and pharmacy shops to benefit to the patients suffering from iron deficiency anemia.
- Introduction of Supplementation Programs in Developing Countries to Boost Market Growth
Iron deficiency anemia is connected with huge monetary losses in productivity among working women in developing nations every year. As a result, pharmaceutical firms, along with government bodies are introducing iron supplementation programsto combat this medical condition among women workers involved in physical labor.
Concealed symptoms, low supplementation adherence, and lack of program monitoring, on the other hand, are restricting market expansion. Moreover, firms are raising awareness about proper supplement doses, recommending regular visits to clinics, and program monitoring as a priority in order to boost market growth.
North America to Dominate Global Market; Asia Pacific to Offer Significant Opportunities analysis:
In terms of region, the global iron deficiency anemia treatment market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. 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.
Some of the prominent players in the Iron Deficiency Anemia Treatment Market include: AdvaCare Pharma, Akorn, Sun Pharmaceutical Industries Ltd., Akebia Therapeutics, Inc., Rockwell Medical, Inc., Vifor Pharma Management Ltd., Shield Therapeutics, AMAG Pharmaceuticals.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Iron Deficiency Anemia Treatment Market: Segmentation
- Iron Deficiency Anemia Treatment Market, by Drug Type
- Ferrous Sulfate
- Ferrous Gluconate
- Ferrous Fumerate
- Ferric Hydroxide
- Sodium Ferric Gluconate
- Iron Carbohydrates
- Others
- Iron Deficiency Anemia Treatment Market, by Dosage Form
- Tablets
- Capsules
- Liquid
- Iron Deficiency Anemia Treatment Market, 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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