Facts & Factors Predicts that by 2026 the Size of the Intravenous Iron Drugs Market Grow at CAGR of 8.0% and Reach USD 3,000 Million
According to Facts and Factors, the global intravenous iron drugs market in 2019 was approximately USD 1,800 Million. The market is expected to grow above a CAGR of 8.0% and is anticipated to reach over USD 3,000 Million by 2026.
Intravenous iron drugs and oral iron supplementation are considered as primary therapies for iron deficiency. Moreover, efficacy of intravenous iron drugs and oral iron supplementation has played a key role in the adoption of iron supplement drugs. IV iron drugs are often preferred over oral iron supplementation because of high gastrointestinal AE rate of oral iron supplements. A long treatment of oral iron supplements is needed to cure anemia. IV iron drugs are directly absorbed in the blood which results in the faster increase of Hb level in the body. IV iron drugs is safe and is increasingly adopted by physicians and other medical professionals.
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In recent years, the number of patients with kidney infection and kidney related diseases have increased significantly, which has also contributed to the increased in the number of IDA patients due to chronic kidney infections or diseases. Further, during pregnancy, water weight and fluid gain affects the hemoglobin content in a woman’s body which leads to anemia. Such increase in the number of anemia patients has bolstered the demand for iron supplements around the world, which in turn has driven the demand for intravenous iron drugs market. In recent years, the number of clinical practices of related to nephrology, oncology gastroenterology, gynecology, etc. has increased in the demand for iron dosages. This has increased the demand for IV iron drugs. However, major factor that has affected the intravenous iron drugs market growth is the cost of oral iron supplements and higher adoption of oral supplements for treating anemia and iron deficiency. However, increasing investment in healthcare research and development and clinical trials of IV iron drugs is likely to create new avenues for the global intravenous iron drugs market.
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In terms of product, the ferric carboxymaltose segment dominated the global IV iron drugs market in 2019, accounting for a share of 40% in 2019. Ferric carboxymaltose is one of the most widely used iron supplement for treating iron-deficiency anemia. The growing demand for IV for treating iron-deficiency anemia is driving the consumption of ferric carboxymaltose. Based on application, the chronic kidney disease segment held a major share of 30% in the global IV iron drugs market in 2019. With changing lifestyle and improper nutrition has resulted in the increase of chronic kidney disease, which has boosted the cases of chronic kidney anemia. To treat such patients rapidly, medical professionals often rely of IV iron drugs than on oral iron supplements. This has driven the chronic kidney disease segment growth.
Based on region, the North America segment dominated the global intravenous iron drugs market in 2019. Technological developments in medicine technology and clinical trials has been a key growth in the development of intravenous iron drugs and resulted in wide spread adoption IV iron drugs, which has driven North America intravenous iron drugs market.
Top key players operating in the market are Rockwell Medical Technologies Inc., Fresenius Medical Care AG & Co., American Regent Inc., Allergan Inc., Sanofi, AMAG Pharmaceuticals Inc., Daiichi Sankyo Company Ltd., Pharmacosmos A/S, Shield Therapeutics Plc, Vifor Pharma Management Ltd., and others.
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This report segments the intravenous iron drugs market as follows:
Global Intravenous Iron Drugs Market: By Product Segmentation Analysis
- Iron Dextran
- Iron Sucrose
- Ferric Carboxymaltose
Global Intravenous Iron Drugs Market: By Application Segmentation Analysis
- Chronic Kidney Disease
- Inflammatory Bowel Disease
Global Intravenous Iron Drugs Market: Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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