Newly-released Intravenous Iron Drugs market analysis report by Future Market Insights shows that global sales of the Intravenous Iron Drugs Market in 2021 were held at USD 2.6 billion. With 8.5%, the projected market growth from 2022 to 2032 is expected to be higher than the historical growth.
The Intravenous Iron Drugs Market is projected to witness an absolute dollar opportunity of USD 3.5 billion. The prevalence of chronic kidney disease (CKD), Inflammatory Bowel Disease (IBD), and cancer have increased the demand for intravenous iron medicines for the treatment of subsequent Iron Deficiency Anaemia.
| Attribute | Details |
|---|---|
| Global Intravenous Iron Drugs Market (2022) | USD 2.8 billion |
| Global Intravenous Iron Drugs Market (2032) | USD 6.3 billion |
| Global Intravenous Iron Drugs Market CAGR (2022 to 2032) | 8.5% |
| USA Intravenous Iron Drugs Market (2022) | USD 922.7 million |
| Key Companies Profiled | Vifor Pharma Management Ltd.; AMAG Pharmaceuticals; Daiichi Sankyo Company, Ltd.; Sanofi S.A.; Pharmacosmos A/S; Shield Therapeutics Plc; AbbVie Inc.; Nippon Shinyaku Co. Ltd. |
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As per the Intravenous Iron Drugs market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Intravenous Iron Drugs Market increased at around 8.1% CAGR, wherein, the region North America held a significant share in the global market.
Iron is a component of haemoglobin, which transports oxygen in the blood and also allows for the creation of red blood cells. Anaemia is a diagnosed condition in which an individual is lacking in the body's iron needs.
Anaemia symptoms include weariness and loss of energy, unusually quick heartbeat when exercising, difficulties concentrating, pale skin and dizziness, sleeplessness, and cramping.
According to a recent survey done by the Vitamin and Mineral Nutrition Information System (VMNIS), around 40% of mothers and children in poor nations are anaemic. As a result, the market is expected to grow at a CAGR of 8.5% over the next ten years.
Anaemia is one of the most frequent blood illnesses nowadays. Anaemia affects an estimated 3 million people in the United States, according to the National Heart, Lung, and Blood Institute.
The rising incidence of target illnesses such as rheumatoid arthritis, autoimmune diseases, renal issues, cancer, liver disorders, thyroid diseases, and inflammatory bowel disease is a significant factor driving the expansion of the intravenous iron medication market.
As per National Kidney Foundation, the two primary causes of CKD are diabetes and hypertension. Also, according to the report, the chronic renal disease affects approximately 10% of the worldwide population, with over 2 million people needing dialysis on a daily basis.
The bulk of all these people is often observed in nations such as Italy, the United States, Germany, Japan, and Brazil.
A significant number of people who have the disease are unaware of it until severe symptoms appear. The frequency of chronic kidney disease is expected to rise in developing economies such as India and China, implying an increase in the elderly population in the future years.
With the increasing incidence of these disorders, there is a greater demand for intravenous iron medicines.
One of the biggest disadvantages of oral iron medications is the possibility of significant side effects. Digestive issues such as stomach pains, constipation, lack of appetite, nausea, and vomiting are common side effects of oral iron medications.
Convulsions, shallow or quick breathing, exhaustion or weakness, fatigue, pale complexion, and bluish skin or fingernails can all result from an overdose of oral iron medications.
Intravenous iron medications, on the other hand, have been demonstrated to promote iron intake by the body, allowing Erythropoiesis-stimulating Agents (ESAs) to act more effectively in lowering anemic conditions.
Other benefits of intravenous iron medications include heart health preservation and the potential to be utilized by dialysis patients, particularly those undergoing hemodialysis. These negative effects are thus expected to assist the changeover to intravenous iron medications, boosting their use during the projection period.
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The market in Asia Pacific is expected to swell at a significant pace of 8.6% from 2022 to 2032. This may be ascribed to the availability of prominent players in the Asia Pacific, as well as the strengthening of healthcare infrastructure with the growing government efforts. Furthermore, the prevalence of IDA in rising economies such as China and India has aided industry expansion.
Besides, the market in Europe is anticipated to increase significantly throughout the forecast year as a result of the growing research and commercialization of new products, the acceptance of advanced medications, and the region's rising incidence of malignancy.
The United States dominated the North American Intravenous Iron Drugs Market, which is expected to reach USD 2.2 billion by 2032 and will increase at a CAGR of 9.3% CAGR during the forecast period. The reimbursement and technological advancement facilities are advantageous factors for market growth in the United States.
The growing geriatric population is a key driver of market expansion in the country. According to USA Census Bureau projections, the number of Americans aged 65 and up is expected to grow from 52 million in 2018 to nearly 95 million by 2060. Furthermore, the share of people aged 65 and up is expected to rise from 16% to 23%.
Its dominance is also due to the region's rising rates of cancer, chronic renal disease, and gastrointestinal ailments. Furthermore, an increase in awareness of women's health and a surge in the frequency of celiac disease are the other factors boosting the market in the country.
The market for intravenous iron drugs in the United Kingdom stood at USD 115 million in 2021. The market in the country is projected to swell at a CAGR of 8.2% during the forecast period to reach a valuation of USD 278 million by 2032. The market in the country is expected to register an absolute dollar opportunity of USD 151 million from 2022 to 2032.
The market in Japan is likely to expand with an absolute dollar opportunity of USD 128 million from 2022 to 2032. The market in the country is expected to reach a valuation of USD 233 million by 2032 growing at a CAGR of 8.2% during the forecast period.
In South Korea, the market is projected to reach a valuation of USD 127 million by 2032, growing from USD 66 million in 2022. With an absolute dollar opportunity of USD 61 million, the market in the country is expected to register a CAGR of 6.7% during the forecast period.
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In 2020, the market for intravenous iron drugs led the market for intravenous medicines for chronic kidney disease, accounting for 30% of the total in 2021.
This large market may be due to the fact that chronic kidney disease (CKD) and intravenous iron therapies are intensively used by CKD patients. IDA is a prevalent complication in CKD patients. It is uncommon in the early stages of renal illness; nevertheless, it happens as the disease progresses and kidney function declines.
Anaemia is caused by a decrease in the amount of Red Blood Cells (RBCs) in CKD patients. The growth in CKD cases has resulted in a large increase in the number of IDA patients. The conventional therapy for people with dialysis and non-dialysis-related CKD is intravenous iron. Dialysis is used to treat anaemia and end-stage renal failure.
Due to the increasing incidence of cancer and the consequent increase in the number of IDA cases, the market revenue through cancer application is expected to grow at the fastest CAGR throughout the projection period.
IDA affects a considerable proportion of cancer patients. Blood cancer, bone cancer, cervical cancer, colon cancer, and prostate cancer are all common cancers associated with anaemia. According to the NCBI, lung and breast cancers have the highest rate of anaemia among solid tumours.
Hematologic cancers, such as leukaemia, lymphoma, and multiple myeloma, create abnormal blood cells, which weaken the immune system and cause anaemia. Chemotherapy and radiation therapy are two cancer therapies that cause anaemia in individuals.
Some of the key players in the global Intravenous Iron Drugs market include Vifor Pharma Management Ltd.; AMAG Pharmaceuticals; Daiichi Sankyo Company, Ltd.; Sanofi S.A.; Pharmacosmos A/S; Shield Therapeutics Plc; AbbVie Inc., Vifor Pharma Management Ltd.; AMAG Pharmaceuticals; Daiichi Sankyo Company, Ltd.; Sanofi S.A.; Pharmacosmos A/S; and Shield Therapeutics Plc among others.
Some of the recent developments in the Intravenous Iron Drugs Market are:
The global market is worth more than USD 2.6 billion at present.
The value of the Intravenous Iron Drugs Market is projected to increase at a CAGR of around 8.5% from 2022 to 2032.
The value of the Intravenous Iron Drugs Market increased at a CAGR of around 8.1% from 2017 to 2021.
The top 5 countries driving demand for the Intravenous Iron Drugs market are the USA, China, the United Kingdom, Japan, and South Korea.
The USA market for Intravenous Iron Drugs is projected to expand at a CAGR of around 9.3% from 2022 to 2032.
The key companies in intravenous iron drugs market are AMAG Pharmaceuticals, AbbVie Inc., Daiichi Sankyo Company Ltd., Sanofi, and Vifor Pharma Management Ltd.
1. Executive Summary 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background and Foundation Data Points 5. Key Success Factors 6. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 7. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 8.1. Iron Dextran 8.2. Iron Sucrose 8.3. Ferric carboxymaltose 8.4. Other Product Types 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Indication 9.1. Chronic Kidney Disease 9.2. Inflammatory Bowel Disease 9.3. Cancer 9.4. Other Applications 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. Asia Pacific 10.5. Middle East and Africa (MEA) 11. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 12. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Key Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. Market Structure Analysis 18. Competition Analysis 18.1. VIFOR PHARMA MANAGEMENT LTD. 18.2. AMAG PHARMACEUTICALS 18.3. DAIICHI SANKYO COMPANY, LTD. 18.4. SANOFI S.A. 18.5. PHARMACOSMOS A/S 18.6. SHIELD THERAPEUTICS PLC 18.7. ABBVIE INC. 19. Assumptions and Acronyms Used 20. Research Methodology
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Intravenous Iron Drugs Market
