The growing prevalence of anemia resulting from iron deficiency is contributing towards the growth of global iron deficiency anemia treatment market. According to a study conducted from inputs provided by various American family physicians, about 2% of adult men and around 9% to 12% of women suffered from iron deficiency in the U.S. Hence, with so many women suffering from anemia, the demand for iron deficiency anemia treatment for women remains strong in the country.
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Increasing investments being directed towards the enhancement of treatment modalities is anticipated to influence the growth of global iron deficiency anemia treatment market over the period of next eight years. Luitpold Pharmaceuticals Inc. and American Regent Inc., for instance, have signed an agreement with Fresenius Medical Care. This agreement is about manufacturing of many medicines and includes sublicense for the next generation of intravenous (IV) iron products for the U.S. and Canada known as Injectafer. A ferric carboxymaltose injection, Injectafer can enhance the treatment of anemia. In another instance, Akebia Therapeutics Inc. is collaborating with Japan Tobacco Inc. (JT) to manufacture Riona Tablets that is useful for the medical treatment meant for Japanese adult patients suffering from IDA. FDA has also approved the use of Feraheme, another injection for IV treatment, for iron deficiency anemia treatment in adult chronic kidney disease patients.
The coronavirus pandemic is also stimulating the growth of global iron deficiency anemia treatment market. Considering the negative impact that this pandemic has on the economic and health aspect of life, there is a necessity to identify the risk factors that can cause a person to catch this disease because it is very important to optimize hospital resources reallocation accordingly, enable risk stratification, and guide public health recommendations as well as interventions. Although no study so far has provided clear evidence regarding the link between anemia and COVID-19, there is a study which concluded that anemia was common in patients with community-acquired pneumonia (CAP). The increasing number of anemia patients and weakened immunity due to anemia making people more prone to catching coronavirus infection has encouraged pharmaceutical companies to develop health supplements, medications or antibiotics that can be useful for anemia treatment, which showcases significant growth prospects for Iron Deficiency Anemia Treatmentover the forecast period.
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Key Findings of the Report:
- The Iron Deficiency Anemia Treatmentis anticipated to reach US$ 4402.36 Mn by 2029 growing at a CAGR of 6.2% during the forecast period (2021 – 2029).
- Supplements & medications/antibiotics are being preferred by people over blood transfusion, IV iron therapy, and other treatment types because it is a non-invasive method of treatment. People who are not comfortable with injecting medications via needles prefer to seek medical treatment with chewable health supplements and eatable medicines. To recover from anemia, people need iron supplements to build up their iron levels quickly. Iron supplements can correct low iron levels within months. Supplements come in pill form for adults and in the form of drops for children.
- Due to pregnancy and breast feeding, women rapidly lose iron in their bodies. The unborn baby or new born baby derives nutrition from the food eaten by the mother or their milk. The body of women can often be unable to circulate or store a healthy amount of iron as pregnancy reduces the immunity of women. During the times of coronavirus pandemic, the immunity of pregnant women is at higher risk than ever. Hence, anemia treatment for women is expected to remain a priority for medical sector for a long time.
- The adult segment held the largest market share of the Iron Deficiency Anemia Treatmentin 2020. Adults need iron in their diet, along with health supplements providing the same.
- In 2020, North America accounted for the highest share in the global iron deficiency anemia treatment market. Early introduction of highly developed anemia treatment options, availability of advanced medical facilities in countries like the United States of America (USA) & Canada, presence of many key market players, growing health-consciousness among people due to fear of COVID, and increasing nutritional deficiency due to changing lifestyle is majorly contributing towards the region’s highest share.
- Some of the major players operating in the Iron Deficiency Anemia Treatmentare Acceleron Pharma Inc., Akebia Therapeutics Inc., Allergan, AMAG Pharmaceuticals Inc., American Regent Inc. (Venofer), Daiichi Sankyo Inc. (Injectafer), PHARMACOSMOS A/S, Pieris Pharmaceuticals Inc., Rockwell Medical Inc., Sanofi, and Torii Pharmaceutical Co. Ltd. amongst others.
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Global Iron Deficiency Anemia Treatment Market:
- By Treatment Type
- Supplements & Medications/Antibiotics
- Blood Transfusion
- Intravenous (IV) Iron Therapy
- By Gender
- By Age Group
- By End Users
- Ambulatory Surgical Centers
- Home Care
- By Region:
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America
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