The iron deficiency anemia treatment market comprises of oral iron supplements and injectable iron supplements that are used to treat iron deficiency anemia. Iron deficiency is one of the most common nutritional deficiencies affecting people globally resulting in iron deficiency anemia. Oral iron supplements are the most commonly prescribed medications for treating iron deficiency anemia and include ferrous sulfate, ferrous fumarate, and ferrous gluconate. Injectable iron supplements offer benefits such as higher absorption rate, less gastrointestinal side-effects, and faster replenishment of iron stores in the body.
The Global iron deficiency anemia treatment market is estimated to be valued at US$ 21.6 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Iron Deficiency Anemia Treatment Market Demand are AdvaCare Pharma, Otsuka Pharmaceutical Co., Ltd., Sanofi, Emcure Pharmaceuticals, Wellona Pharma, SiNi Pharma Pvt Ltd, Sun Pharmaceutical Industries Ltd., Zydus Group, Akebia Therapeutics., Rockwell Medical, Inc., AbbVie Inc., Pfizer, Inc., Velnex Medicare, PHAEDRUS LIFE SCIENCE PVT. LTD., Inopha International Co, Limited, PharmaNutra S.p.A., Pharmascience Inc., American Regent, Inc. The key players are focusing on new product launches, mergers & acquisitions and geographical expansions to increase their market share.
The key opportunities in the market include growing awareness about treatment of iron deficiency anemia, rise in healthcare spending in emerging countries, availability of generic oral iron supplements, and growth in diagnostic testing for iron deficiency anemia.
Geographically, North America dominated the global iron deficiency anemia treatment market in 2024 owing to high healthcare expenditure and presence of major market players. However, Asia Pacific region is expected to exhibit fastest growth over the forecast period owing to rise in disposable incomes, growing awareness, and expansion strategies by market players.
Market drivers
- Rising prevalence of iron deficiency anemia worldwide due to inadequate dietary iron intake and blood loss conditions like heavy menstrual periods.
- Increasing healthcare expenditure and spending on prescription drugs in emerging economies.
Market restraints
- Side effects associated with oral and injectable iron supplements including constipation, diarrhea, nausea and vomiting.
- Preference for dietary modifications and supplements over prescription medications in developed markets.
Segment Analysis
The iron deficiency anemia treatment market can be segmented into oral iron therapy and parenteral iron therapy based on route of administration. Oral iron therapy dominates the market due to its ease of administration and lower costs as compared to parenteral iron therapy. However, parenteral iron therapy is expected to witness faster growth during the forecast period due to superior efficacy and faster absorption of iron as compared to oral supplements. It is also preferred for patients who are unable to tolerate oral iron therapy or have complications that prevent oral administration.
Within oral iron therapy, the ferrous sulfate sub-segment holds the largest share as ferrous sulfate supplements are widely available and one of the least expensive options. However, newer forms of iron polymaltose and iron glucotransferrin are gaining popularity due to lesser side effects like constipation and nausea. The parenteral iron therapy segment is dominated by iron sucrose and ferric carboxymaltose drug formulations.
Global Analysis
North America dominates the global iron deficiency anemia treatment market due to high awareness regarding anemia diagnosis and treatment, developed healthcare infrastructure, and presence of major market players. However, Asia Pacific is expected to witness the highest growth during the forecast period driven by growing burden of iron deficiency anemia due to increased malnutrition and rising healthcare expenditure.
Within Asia Pacific, China and India hold the major share due to large patient pools. Europe holds the second largest market share supported by favourable reimbursement policies and strategic initiatives by market players. On the other hand, Latin America and Middle East & Africa are projected to provide lucrative opportunities for players due to improving access to diagnosis and treatment options in these emerging regions.
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