Iron-Deficiency Anemia Therapy Market to Surge USD 13,208.89 Million, with Excellent CAGR of 17.2%% by 2030
Global Iron-Deficiency Anemia Therapy Market survey report additionally encompasses predictions utilizing a practical arrangement of uncertainties and techniques. With this market report study, key opportunities in the market and influencing factors are provided which is useful to take the business to the highest level. By including detailed statistics and market research insights, this business report is generated, which results in high growth and thriving sustainability in the market for the businesses. An expert team analyses and forecasts market data using well established market statistical and coherent models to make Global Iron-Deficiency Anemia Therapy Market report outstanding.
Data Bridge Market Research analyses that the iron-deficiency anemia therapy market, which is USD 3710.61 million in 2022, is expected to reach USD 13,208.89 million by 2030, at a CAGR of 17.2% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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The expanding market for iron-deficiency anemia therapy is driven by the alarming prevalence of anemia worldwide, with iron deficiency accounting for a significant proportion of cases. According to the World Health Organization, an estimated 1.5 to 1.74 billion individuals globally suffer from anemia. The prevalence of iron deficiency anemia is rising, fostering innovation, research, and development in the field while increasing the demand for effective treatments to address this condition.
“Growing awareness and diagnosis surge market demand”
The growing awareness of iron-deficiency anemia among healthcare professionals and patients has played a crucial role in improving diagnosis rates. With increased knowledge and understanding of the condition’s symptoms and risk factors, healthcare providers are better equipped to identify and diagnose iron-deficiency anemia at an earlier stage. Early and accurate diagnosis enables timely intervention and treatment, emphasizing the importance of iron-deficiency anemia therapies and driving the demand for such treatments in the market.
What restraints the growth of the iron-deficiency anemia therapy market?
“Lack of awareness among the general population can impede the market growth”
The general population’s lack of awareness about iron-deficiency anemia is a significant restraint for the market. Many individuals may not recognize the symptoms of anemia, such as fatigue, weakness, and shortness of breath, and therefore delay seeking medical help. This delayed diagnosis and treatment can have a negative impact on the demand for therapy, as patients may not receive the necessary treatment in a timely manner. Efforts to increase public awareness about the signs, symptoms, and available treatment options for iron-deficiency anemia are crucial to address this restraint and ensure early intervention for affected individuals.
Drivers
• Increasing prevalence of iron deficiency anemia (IDA) will bolster the market growth
Iron deficiency anemia (IDA) is more common than average in developing nations. For instance, a 2017 study by researchers at the Indira Gandhi Institute of Medical Sciences in Bihar, India, found that IDA affected 50% of the adolescent girls polled for the study. 3.3% of them had severe anemia. These startling figures are primarily attributable to inadequate iron intake from regular food sources and blood loss during menstruation and pregnancy. Treatments for iron deficiency anemia may be essential in giving girls and other vulnerable groups the nutrients they need to avoid developing an anemic. Additionally, these treatments can aid in reducing the negative consequences of IDA and improve the health of those affected.
• Growing research and clinical activities will drive the market growth
The popularity of oral iron therapy is predicted to rise, fuelling the segment’s expansion, as more studies are coming out in favor of its use as an intravenous treatment alternative in hospital settings. For instance, oral iron supplementation has been regarded as the main treatment for iron deficiency anaemia in children that affects their growth and development, according to the most recent study published by the IRESPUB Journal of Life Sciences in January 2022 and titled “Oral iron formulae for treatment of iron deficiency anemia: a comparative study.” But this accelerates the market’s expansion.
Recent Developments
- In 2021, Sandoz announced the launch of Ferumoxytol Injection, the first generic high-dose intravenous iron. This medication is used to treat anemia caused by iron deficiency in U.S. patients. IDA in adults with an aversion to oral iron, a poor reaction to oral iron, or chronic renal disease is treatable with ferumoxytol, a generic version of AMAG Pharmaceuticals’ Feraheme.
- In 2022, The Drug Controller General of India granted approval to Zydus’ New Drug Application (NDA) for Oxemia. Oxemia is an oral, small-molecule inhibitor of hypoxia-inducible factor-prolyl hydroxylase (HIF-PH) used to treat anemia linked to chronic kidney disease (CKD).
Some of the major players operating in the iron-deficiency anemia therapy market are:
- Fresenius SE & Co. KGaA (Germany)
- Sanofi (France)
- Pfizer Inc. (U.S.)
- GSK plc (U.K.)
- Novartis AG (Switzerland)
- AbbVie Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (U.S.)
- Teva Pharmaceutical Industries Ltd.(Ireland)
- Lupin (India)
- ViforPharma Ltd. (Switzerland)
- AMAG Pharmaceuticals (U.S.)
- Akebia Therapeutics, INC. (U.S.)
- CHO-A Pharmaceutical CO., LTD. (South Korea)
- Orion Corporation (Finland)
- Pharmacosmos A/S (Denmark)
- Shield Therapeutics (U.K.)
- Advanz Pharmaceutical (U.K.)
- Alkem Labs (India)
- Zydus Cadila (India)
- Hikma Pharmaceuticals PLC (U.K.)
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Iron-Deficiency Anemia Therapy Market Scope
Therapy
- Parenteral Iron Therapy
- Oral Iron Therapy
Therapy Areas
- Inflammatory Bowel Disease
- Renal
- Obstetrics and Gynecology
- Congestive Heart Failure (CHF)
- Oncology
- Others
Population
- Adults
- Pediatric
- Geriatric
End-Users
- Hospitals
- Specialty Clinics
- Homecare
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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