Intravenous Iron Drugs Market Outlook 2031:
The global intravenous iron drugs market size was valued at USD 2.92 Billion in 2022 and is projected to reach USD 6.14 Billion by 2031, expanding at a CAGR of 8.6% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing geriatric population, increasing people with chronic diseases and patients undergoing dialysis.
Iron is a crucial mineral of the body. It is a critical element of hemoglobin which delivers oxygen throughout your body. Iron is also required for heme synthesis, energy metabolism, neurotransmitter creation, myoglobin development, collagen development, and immune system function.
Iron deficiency is one of the leading causes of iron deficiency anemia (IDA), which is linked to an increased risk of morbidity and death. Oral and intravenous iron supplements are available. Oral iron supplements are slower to intravenous iron preparations because they result in a greater and faster increase in iron and hemoglobin levels.
Gastrointestinal side effects, low adherence, low gastrointestinal absorption, and noncompliance are among drawbacks of oral supplements.
Intravenous iron infusion is a method of delivering iron to your blood rapidly by inserting a tiny tube into a vein in your arm and administering a liquid solution containing iron. Doctors typically prescribe iron infusions to treat iron deficiency anemia. Dietary modifications and iron supplementation in tablet form are usually used to treat iron deficiency anemia.
Doctors may, however, suggest iron infusions in specific circumstances. The demand for iron in a pregnant woman increases as her fetus grows. The mother's iron levels may decline as the fetus takes iron from her body, leading in anemia. As a result, doctors occasionally prescribe iron infusions for pregnant women. An iron infusion is a rapid technique to boost your body's iron levels.
It is a faster solution than supplements or dietary adjustments. This can be extremely beneficial in cases of severe anemia. An iron infusion has physical benefits such as increased energy and better breathing. These advantages should begin to manifest a few weeks following your final infusion therapy. The amount of time these advantages persist is determined on the cause of your iron deficiency anemia and if any additional treatments are taken to raise your iron levels.
For example, regular blood loss, such as through menstruation, can result in a continual reduction in iron levels. The effects of an iron infusion might last anywhere from a few months to a few years, depending on condition. Additional iron-increasing treatments, like as supplementation and dietary adjustments, may be recommended by your doctor to extend the effects.
Intravenous Iron Drugs Market Trends, Drivers, Restraints, and Opportunities
- Increasing incidence of iron deficiency, growing chronic kidney disorders patients undergoing dialysis and increasing diabetic patients around the world are factors driving the market growth during the forecast period.
- Increase in iron deficiency anemia in gynecology, oncology, and gastroenterology conditions, and accurate, quick, and convenient access to IV iron doses are projected to boost the market growth during the forecast period.
- Increased initiatives by public and private institutes for spreading the awareness regarding the need for safe levels of iron in pregnant women is expected to fuel the market growth in the coming years.
- Growing awareness among the people regarding healthcare and personal care is estimated to boost the market growth during the forecast period.
- Stringent drug approval framework is projected to hamper the market growth during the forecast period.
- Side-effects associated with intravenous iron infusion is anticipated to impede the market growth during the forecast period.
- High cost of treatment and not suitable for first trimester of pregnancy are major challenges that can restrict the market growth during the forecast period.
- Increased emphasis on R&D for novel product development and increasing need for preventing anemia in pregnant women are expected to offer lucrative opportunities for the market players.
Scope of the Intravenous Iron Drugs Market Report
The report on the global intravenous iron drugs market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Intravenous Iron Drugs Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Product (Iron Dextran, Iron Sucrose, Ferric Carboxymaltose, and Others), Application (Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, and Other)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Allergan, Inc.; Daiichi Sankyo Company, Ltd.; Rockwell Medical Technologies, Inc.; AMAG Pharmaceuticals. Inc.; Sanofi; Fresenius Medical Care AG & Co.; Vifor Pharma Management Ltd.; Pharmacosmos A/S; Shield Therapeutics Plc; American Regent. Inc.
Intravenous Iron Drugs Market Segment Insights
Ferric carboxymaltose segment is expected to account for a key share of the market
Based on product, the intravenous iron drugs market is segmented into iron dextran, iron sucrose, ferric carboxymaltose, and others. The ferric carboxymaltose segment is expected to account for a key share of the market during the forecast period due to increasing use in drug development, improved performance, and lower cost.
On the other hand, the iron sucrose segment is anticipated to expand at a rapid pace during the forecast period due to increased number of product launches such as diafer and feraccru.
Chronic kidney disease segment is expected to constitute a key share of the market
Based on application, the intravenous iron drugs market is segmented into chronic kidney disease, inflammatory bowel disease, cancer, and other. The chronic kidney disease segment is expected to constitute a key share of the market during the forecast period due to increasing incidence, a growing geriatric population, and a shift towards a sedentary lifestyle.
Intravenous medicines are preferred over oral tablets in several situations of iron deficiency. These IV iron drugs are used when the body cannot absorb dietary iron, when a quick rise in hemoglobin is required, or when there is underlying inflammation, such as in inflammatory bowel disease or Chronic Kidney Disorder patients.
On the other hand, the cancer segment is anticipated to expand at a rapid pace during the forecast period owing to its increasing prevalence and increasing oncology cohort.
North America is anticipated to dominate the market
On the basis of regions, the intravenous iron drugs market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market at an impressive CAGR during the forecast period.
The regional market growth can be attributed to increasing use of intravenous iron medications in cancer research, the use of low-cost & compact intravenous iron medications in clinical diagnostics, and the development of research lab infrastructure.
On the other hand, Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to increasing government investment in the biotechnology and biopharmaceutical industries, the development of innovative biologics, vaccines, and medications, the expansion of medical treatment for infectious and chronic illnesses, and a large number of investment possibilities in these markets. The growth of the region can be highly attributed to countries such as Japan, China, South Korea, and India.
The global intravenous iron drugs market has been segmented on the basis of
- Iron Dextran
- Iron Sucrose
- Ferric Carboxymaltose
- Chronic Kidney Disease
- Inflammatory Bowel Disease
- Other Diseases
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Allergan, Inc.
- Daiichi Sankyo Company, Ltd.
- Rockwell Medical Technologies, Inc.
- AMAG Pharmaceuticals. Inc.
- Fresenius Medical Care AG & Co.
- Vifor Pharma Management Ltd.
- Pharmacosmos A/S
- Shield Therapeutics Plc.
- American Regent. Inc.
Key players competing in the intravenous iron drugs market are Allergan, Inc.; Daiichi Sankyo Company, Ltd.; Rockwell Medical Technologies, Inc.; AMAG Pharmaceuticals. Inc.; Sanofi; Fresenius Medical Care AG & Co.; Vifor Pharma Management Ltd.; Pharmacosmos A/S; Shield Therapeutics Plc; American Regent. Inc.
Emergence of new entrants and the existence of well-established companies, the global intravenous iron drugs market is extremely competitive. Some of the key business strategies includes mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase companies market shares.