Ferrous Fumarate Market to Register Remarkable Growth due to Favorable Reimbursement Policies, Global Industry Report, Size Estimation, Share, Analysis, Top Companies Revenues by 2027
Some of the manufacturers operating in the global ferrous fumarate market include Vifom Pharma, Ironwood Pharmaceuticals, Galenica group, Allied Biochem Pvt. Ltd., Lonye Technology Limited, Shreeji Industries, and Henan Sinotech Import & Export Corporation.
The global ferrous fumarate market size is projected to witness potential gains in the future and register a significant CAGR of 15.74% over the forecast period (2019 – 2027).
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Ferrous fumarate belongs to the class of iron (II) chemical compound. It is used for the prevention and treatment of iron-deficiency anemias. It is used as a dietary supplement and its administration results in elevation of serum iron concentration, in the blood ferrous fumarate is also used for the treatment of thalassemia, iron deficiency anemia, fatigue, and anemia. Moreover, it is also used for diagnostic assessment.
The growing prevalence of anemia and thalassemia around the globe is projected to boost the growth of the global ferrous fumarate market. Anemia is a medical condition characterized by a lack of red blood cells to carry adequate oxygen to the body’s tissues. Women in the childbearing years are highly vulnerable to anemia and iron deficiency. Ferrous fumarate tablets can be consumed orally and are easy to swallow and can also be crushed or chewed. It acts as an iron supplement to treat or prevent low blood levels of iron.
On the flip side, restrictions on the use of ferrous fumarate as it is not recommended to those suffering from liver or kidney disease and porphyria. Moreover, the consumption of ferrous fumarate can also lead to constipation, black stool, stomach pain, abdominal bloating, flatulence, and abdominal pain. Such factors are projected to hamper market growth.
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Among regions, North America is expected to hold a dominant position in the global ferrous fumarate market over the forecast period. This is majorly attributed to the presence of strong pharmaceutical manufacturers in the region. The Asia Pacific is projected to witness fastest growth rate in the market, due to the rising prevalence of anemia in the region. Key players in the market can focus on expanding their business in emerging regions such as Africa and the Middle East to increase their market share. Africa, South East Asia, and the Eastern Mediterranean are the regions with a high prevalence of anemia
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