Iron Deficiency Anemia Treatment Market Size was valued at USD 3.5 Billion in 2022. The Iron Deficiency Anemia Treatment market industry is projected to grow from USD 4.11 Billion in 2023 to USD 14.94 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.50% during the forecast period (2023 - 2032). Rise in the incidence of chronic renal disease, rise in the risk of hem dilution in expectant mothers, and rise in the prevalence of iron insufficiency in people are the key market drivers accelerating market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for Iron Deficiency Anemia Treatment is being driven by the rising Prevalence of Iron Deficiency Anemia. An absence of iron When there is not enough iron in the body, anemia, one of the most prevalent types of anemia, develops. Low levels of healthy red blood cells are a medical disease known as anemia. RBCs are the blood's oxygen-carrying cells. The creation of hemoglobin, a component of red blood cells, depends heavily on iron. Oxygen levels in the body are lower when hemoglobin is deficient. Maintaining iron levels is so crucial. Iron is necessary for the body's transportation of oxygen. Meat, vegetables, fruits, and grains are foods high in iron that can help prevent it.
Additionally, Patients with cancer are more frequently developing iron deficient anemia. A number of common malignancies are frequently connected to anemia, including bone cancer, cervical cancer, blood cancer, colon cancer, and prostate cancer. The highest anemic prevalence has been seen in breast and lung tumors among solid tumors. A hematologic cancer, such as lymphoma, leukemia, or multiple myeloma, can produce abnormal blood cells, which can result in anemia. The immune system is compromised by certain disorders. Cancer treatments like chemotherapy and radiation worsen anemia in patients with the disease. There are hence more prospects in the market.
Iron deficiency anemia is becoming more prevalent, especially in women and children, as a result of low dietary iron intake and excessive red blood cell loss. This can lead to developmental abnormalities in growing children and fetuses in pregnant women, respectively. Only a small number of minor side effects can result from taking iron-containing drugs. Problems with appetite and digestive disorders like nausea, vomiting, stomach aches, and constipation is frequent adverse effects. Additionally, these drugs may result in overdose symptoms such weakness, exhaustion, shallow or quick breathing, bluish skin, convulsions, pale skin, or pale fingernails. The expansion of the market is hampered as a result.
For instance, According to the WHO, iron deficiency is responsible for 50% of all anemias, which affects 1,500 million to 1,740 million individuals worldwide. A study undertaken for the national health care data in Germany, Belgium, Spain, and Italy also found that the yearly between 7.2 and 13.9 cases of iron deficiency anemia per 1,000 person-years were reported. Thus, result in driving the Iron Deficiency Anemia Treatment market revenue.
The Iron Deficiency Anemia Treatment market segmentation, based on Therapy Type includes Oral Iron Therapy, Parenteral Iron Therapy, and Red Blood Cell Transfusion. The oral iron therapy segment dominated the market. This dominance can be attributed to easy application of this method, as taking oral treatment is much easier than other treatments. However, parenteral iron therapy is also occasionally required to treat functional iron deficiency, patients who are resistant to or intolerable of oral iron therapy or patients who are undergoing recombinant erythropoietin therapy.
The Iron Deficiency Anemia Treatment market segmentation, based on End User, includes Hospitals, Clinics, and Home Healthcare. The hospitals category generated the most income. This might be as a result of benefits including individualized treatment plans, top-notch medication, and an increase in hospitals in developing countries. Hospitals are medical treatment centers that are generally managed by trained medical professionals, such as doctors, surgeons, and nurses.
Figure1: Iron Deficiency Anemia Treatment Market, by End User, 2022&2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Iron Deficiency Anemia Treatment market area will dominate this market, due to elements including the rising incidence of iron deficiency anemia in the population, the availability of a strong health care system, and the presence of significant market participants in the area.
Further, the major countries studied in the market report are The US, Canada, France, the UK, Italy, Spain, German, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: IRON DEFICIENCY ANEMIA TREATMENT MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Iron Deficiency Anemia Treatment market represents the second-largest market share due to the substantial need for iron supplements, and the increased awareness of the treatment for iron deficient anemia. Further, the German Iron Deficiency Anemia Treatment market held a dominant market share, and the UK Iron Deficiency Anemia Treatment market was the European region's fastest-growing market.
The Asia-Pacific Iron Deficiency Anemia Treatment Market is anticipated to see the fastest CAGR between 2023 and 2032. This is due to increased public knowledge of women's health issues and advancements in the healthcare system. Moreover, China’s Iron Deficiency Anemia Treatment market held a dominant market share, and the Indian Iron Deficiency Anemia Treatment market was the Asia-Pacific region's fastest-growing market.
Iron Deficiency Anemia Treatment Key Market Players& Competitive Insights
Leading market players are putting a lot of money on R&D to extend the range of their goods, which will fuel the Iron Deficiency Anemia Treatment market's growth. Additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach, with important market developments such as the introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other organizations. To grow and endure in an increasingly competitive and challenging market environment, Iron Deficiency Anemia Treatment industry must provide reasonably priced goods.
One of the main business strategies employed by manufacturers is to produce locally to reduce operational expenses in the Iron Deficiency Anemia Treatment industry to develop market sector and provide benefits to customers. In recent years, the Iron Deficiency Anemia Treatment industry has provided some of the most important benefits to the healthcare sector. Major players in the Iron Deficiency Anemia Treatment market, including Abbvie Inc., Akebia Therapeutics Inc., AMAG Pharmaceuticals Inc. (Covis Group S.r.l.), Daiichi Sankyo Company, Pharmacosmos AS, Sanofi SA, Johnson and Johnson, and Fresenius SE & Co. KGaA, and others, invest in operations for research and development in an effort to improve market demand.
AbbVie Inc. is an American pharmaceutical corporation. According to revenue, it is the sixth-largest biomedical company. Humira (adalimumab), which is taken via injection, is the company's main product ($21 billion in 2022 revenues, or 37% of all revenues). Rheumatoid arthritis, Crohn's disease, plaque psoriasis, and ulcerative colitis are among the autoimmune disorders that it is licenced to treat. The name "AbbVie" is a mix of "Abbott," the name of the company's former parent, and "vie," which is meant to be a reference to a Latin word that means "life”. In 2022, With its main product SDI-118 and portfolio of cutting-edge modulators of the synaptic vesicle protein 2A, Syndesi Therapeutics was bought by Abbvie for up to $1 billion.
AMAG Pharmaceuticals, Inc. is an American pharmaceutical firm that creates medications to treat adult patients with iron deficiency anemia (IDA). Up until November 2020, when Covis Pharma bought the business, it was a publicly traded firm with the ticker "AMAG" on NASDAQ. The business joined the Pharmaceutical Research and Manufacturers of America (PhRMA) in 2016. The activities of AMAG Pharmaceuticals Inc. include drug research, marketing, and distribution. The United States, Canada, and the European Union are among the regions where the corporation markets its products. In 2018, Feraheme, manufactured by AMAG Pharmaceuticals, has been given FDA (Food and Drug Administration) approved for the treatment of iron deficient anemia in patients who cannot take oral iron therapy or who do not significantly improve after receiving oral iron therapy.
Key Companies in the Iron Deficiency Anemia Treatment market include
Iron Deficiency Anemia Treatment Industry Developments
September 2022: Pharmacosmos sold Zydus Life sciences the rights to distribute the iron deficient anemia medication MonoFerric (iron isomaltoside) injectable in India and Nepal.
March 2022: An oral, small-molecule inhibitor of the hypoxia-inducible factor-prolyl hydroxylase (HIF-PH) that Zydus submitted for the treatment of anemia linked to chronic kidney disease (CKD), called Oxemia, received approval from the Drug Controller General of India.
January 2019: The Food and Drug Administration (FDA) has approved Monoferri for use in the United States as a treatment for iron-deficiency anemia (IDA), according to a statement from Pharmacosmos a/s. This new FDA approval will contribute to PHARMACOSMOS A/S's product portfolio expansion and raise its market credibility.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 3.5 Billion |
| Market Size 2023 | USD 4.11Billion |
| Market Size2032 | USD 14.94 Billion |
| Compound Annual Growth Rate (CAGR) | 17.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Therapy Type, End User, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, France, UK, Italy, Canada, German, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Â Abbvie Inc., Akebia Therapeutics Inc., AMAG Pharmaceuticals Inc. (Covis Group S.r.l.), Daiichi Sankyo Company, Pharmacosmos AS, Sanofi SA, Johnson and Johnson, and Fresenius SE & Co. KGaA |
| Key Market Opportunities | An increase in cases of anemia will present a chance |
| Key Market Dynamics | Growing clinical and research efforts will fuel market expansion. |
Frequently Asked Questions (FAQ) :
In 2022, the market for treating iron deficiency anemia was estimated to be worth USD 3.5 billion.
During the forecast period, 2023-2032, the market growth is projected to occur at a CAGR of 17.50. %.
North America maintained the biggest market share ly.
Abbvie Inc., Akebia Therapeutics Inc., AMAG Pharmaceuticals Inc. (Covis Group S.r.l.), Daiichi Sankyo Company, Pharmacosmos AS, Sanofi SA, Johnson and Johnson, and Fresenius SE & Co. KGaA are among the leading companies in the industry.
In 2022, the market was dominated by the category of oral iron therapy.
The Hospitals held the biggest market share worldwide.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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