Iron Drugs Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Japan, China, Germany, France - Size and Forecast 2024-2028

Iron Drugs Market Size 2024-2028

The iron drugs market size is forecast to increase by USD 4.58 billion, at a CAGR of 10.87% between 2023 and 2028.

• Market is experiencing notable growth, driven by the rising global prevalence of iron deficiency. This nutritional issue is particularly widespread among women and children, fueling strong demand for iron supplements.
• Furthermore, the rising number of chronic kidney disease (CKD) dialysis centers in emerging economies is contributing to market growth. However, the side effects associated with the oral administration of iron drugs, such as gastrointestinal disturbances and constipation, may hinder market expansion. Despite these challenges, the market is expected to continue its growth trajectory due to the increasing awareness and initiatives to address iron deficiency.

What will be the Iron Drugs Market Size During the Forecast Period?

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• The market encompasses a diverse range of products used to treat various conditions characterized by iron deficiency or increased iron requirements, including chronic kidney disease, inflammatory bowel disease, cancer, malaria, HIV/AIDS, tuberculosis, hepatitis, pneumonia, and anemia. These conditions can lead to decreased levels of hemoglobin and red blood cells, impacting overall health and quality of life. Iron drugs, such as IV iron and ferric carboxymaltose, play a crucial role in addressing iron deficiency and anemia. They are administered intravenously to ensure optimal absorption and are particularly beneficial for individuals with gastrointestinal side effects or poor nutrient absorption. The market for iron drugs is driven by the growing prevalence of chronic conditions like renal issues, liver disorders, rheumatoid arthritis, and autoimmune diseases.
• Additionally, the need to manage anemia in mothers and children in poor nations and the treatment of cancer-induced anemia further bolsters market growth. Transferrin saturation and hemoglobin levels are key considerations for diagnosing and monitoring anemia, making iron drugs essential in various therapeutic applications. Monoclonal iron, another type of iron drug, is gaining popularity due to its reduced side effects compared to traditional iron supplements. Overall, the market is expected to experience significant growth In the coming years as the demand for effective treatments for anemia and related conditions continues to rise.

How is this Iron Drugs Industry segmented and which is the largest segment?

The iron drugs industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Product
  • Oral drug
  • IV drug
• Age Group
  • Adult
  • Pediatric
• Geography
  • North America
    • US
  • Europe
    • Germany
    • France
  • Asia
    • China
    • Japan
  • Rest of World (ROW)

By Product Insights

• The oral drug segment is estimated to witness significant growth during the forecast period.

Oral iron drugs are a common treatment for iron deficiency anemia, which is characterized by a lack of hemoglobin In the blood due to insufficient iron intake. These drugs come in various forms, including ferrous sulfate, ferrous gluconate, ferrous fumarate, and iron polysaccharide complex. They are taken orally and are generally well-tolerated by most patients. Ferrous sulfate is the most widely used type, available in tablets or capsules and typically administered two to three times daily with meals. Iron deficiency anemia can lead to fatigue, weakness, and shortness of breath. Oral iron drugs help address this by increasing the body's iron supply, enabling the production of hemoglobin.

However, they may cause gastrointestinal adverse effects such as nausea, constipation, and diarrhea. In severe cases, gastrointestinal bleeding may occur. Iron drugs are also used in other medical contexts, such as kidney dialysis and the treatment of celiac disease. Additionally, they play a role in managing Acute Kidney Injury. Teleconsultations and telemedicine have become increasingly important for managing iron deficiency anemia, allowing patients to receive care from the comfort of their homes. Oral iron drugs are essential for addressing iron deficiency anemia and improving overall health. While they can cause gastrointestinal side effects, their benefits far outweigh the risks.

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The oral drug segment was valued at USD 2.78 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• North America is estimated to contribute 40% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market holds a substantial revenue share due to the region's advanced healthcare infrastructure, enabling effective treatment of various medical conditions, including anemia, chronic kidney disease (CKD), and associated complications like renal anemia. The US, in particular, contributes significantly due to substantial investments in healthcare and the presence of key market participants. Canada is also witnessing an increase in healthcare expenditure, contributing to market growth. Iron drugs are primarily used to address anemia, a condition characterized by insufficient red blood cells, impairing the body's ability to transport oxygen to tissues. This market caters to various patient populations, including those with diabetes, hypertension, and undergoing dialysis.

Iron medications, such as oral iron supplements and Erythropoiesis-stimulating Agents (ESAs), are utilized to manage anemia and its complications. However, these drugs may cause side effects, including digestive issues, limiting their widespread adoption. Despite this, the market's growth is driven by the increasing prevalence of CKD and the growing need for effective treatment options for dialysis patients, as well as those with lung cancer and heart health concerns.

Market Dynamics

Our iron drugs market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise In the adoption of Iron Drugs Industry?

The growing prevalence of iron deficiency globally is the key driver of the market.

• Anemia caused by iron deficiency (IDA) is a prevalent health issue affecting individuals across various demographics, including women, particularly adolescent girls. IDA can be attributed to increased iron demand, menstrual blood loss, infections, and worm infestations, among other factors. Iron is a vital micronutrient essential for numerous bodily functions, including cellular development, oxygen transport, immune system activity, and brain function. Consequently, IDA can negatively impact cognitive development and productivity. Chronic conditions such as chronic kidney disease (CKD), inflammatory bowel disease (IBD), cancer, and autoimmune diseases like rheumatoid arthritis can lead to IDA. Additionally, individuals undergoing dialysis, suffering from celiac disease, acute kidney injury, or thyroid disorders are at an increased risk.
• Iron is administered through intravenous (IV) drugs like iron dextran, iron sucrose, ferric carboxymaltose, and injectable iron formulations such as Injectafer, Ferrinject, and Ferumoxytol. Oral iron medications are also available. However, these drugs may cause gastrointestinal adverse effects, including gastrointestinal bleeding, nausea, and constipation. IDA is also common in pregnant women and mothers and children in poor nations. In the US, IDA is prevalent in patients with chronic kidney disease, cancer, and chronic heart failure. Erythropoiesis-stimulating agents, used to treat anemia in patients undergoing chemotherapy and radiation therapy, can also cause IDA. Infectious diseases like malaria, HIV/AIDS, TB, pneumonia, and influenza can lead to IDA due to nutrient deficiencies and chronic blood loss.

What are the market trends shaping the Iron Drugs Industry?

A growing number of CKD dialysis centers in emerging economies is the upcoming market trend.

• The market is experiencing significant growth due to the increasing prevalence of chronic kidney disease (CKD) and associated anemia, inflammatory bowel disease, cancer, and infectious diseases such as malaria, HIV/AIDS, TB, hepatitis, and pneumonia. These conditions often require intravenous (IV) iron therapies like iron dextran, iron sucrose, ferric carboxymaltose (Ferrinject, Injectafer), ferric gluconate, ferric pyrophosphate citrate, and ferric derisomaltose. Oral iron medications are also in demand for conditions like anemia, autoimmune diseases, renal issues, liver disorders, thyroid diseases, diabetes, and hypertension. Women's health, chronic heart failure, and anemia in mothers and children are other key areas where iron drugs play a crucial role.
• In poor nations, where access to healthcare and proper nutrition is limited, anemia is a significant health concern, leading to increased demand for affordable iron therapies. The market is also driven by advancements in teleconsultations and telemedicine, enabling better access to care for patients with chronic renal disease, cancer, and other conditions requiring regular monitoring and treatment. In the US, IV iron drugs like ferric carboxy maltose are used extensively in nephrology, gastroenterology, oncology, critical care, and gynecology. Gastrointestinal adverse effects, such as nausea, vomiting, and gastrointestinal bleeding, are common side effects of iron drugs. Anemia treatments like Erythropoiesis-stimulating agents are also used in cancer patients undergoing chemotherapy and radiation therapy.

What challenges does the Iron Drugs Industry face during its growth?

Side effects of oral administration of iron drugs is a key challenge affecting the industry growth.

• The market is experiencing significant growth due to the limitations of conventional oral therapies for treating anemia. Oral iron drugs, once the preferred treatment option, can be challenging to administer due to poor gastrointestinal (GI) tolerance or absorption. These drugs require multiple daily doses and can cause side effects such as abdominal pain, nausea, flatulence, diarrhea, constipation, and gastrointestinal bleeding. The absorption of oral iron drugs is hindered by the decreased GI absorption caused by inflammation in chronic kidney disease (CKD) patients. IV iron drugs, such as iron dextran, iron sucrose, ferric carboxymaltose, and Ferumoxytol, offer advantages over oral therapies.
• They are administered intravenously, ensuring complete absorption and avoiding GI side effects. IV iron drugs are used to treat various conditions, including anemia in chronic kidney disease, inflammatory bowel disease, cancer, and infectious diseases such as malaria, HIV/AIDS, TB, hepatitis, and pneumonia. They are also used to treat anemia in women's health, chronic heart failure, and autoimmune diseases like rheumatoid arthritis. IV iron drugs are used in nephrology, gastroenterology, oncology, critical care, and gynecology. They are essential in treating anemia in dialysis patients and cancer patients undergoing chemotherapy and radiation therapy. IV iron drugs have been shown to improve hemoglobin levels and red blood cell production, reducing the need for blood transfusions.
• However, they can cause adverse effects such as allergic reactions, hypotension, and anaphylaxis. The market is expected to grow due to the increasing prevalence of anemia, particularly in chronic kidney disease and cancer patients. The high cost of IV iron drugs and the availability of generic alternatives may limit market growth. Teleconsultations and telemedicine are expected to increase the use of IV iron drugs, making them more accessible to patients in remote areas and poor nations. The development of new IV iron drugs, such as ferric derisomaltose and ferric pyrophosphate citrate, is expected to expand the market further.

Exclusive Customer Landscape

The iron drugs market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the iron drugs market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, iron drugs market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Abbott Laboratories
• AbbVie Inc.
• Alinter Group Ltd.
• Alora Pharmaceuticals LLC
• Breckenridge Pharmaceutical Inc.
• Covis Pharma GmbH
• CSL Ltd.
• Daiichi Sankyo Co. Ltd.
• DSE Health Care Solutions Inc.
• GlaxoSmithKline Plc
• Hiral Labs Ltd.
• McKesson Corp.
• NovaFerrum
• Pharmacosmos AS
• The Procter and Gamble Co.
• Reckitt Benckiser Group Plc
• Rockwell Medical Inc.
• Sanofi SA
• Shield Therapeutics plc
• Zydus Lifesciences Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market encompasses a diverse range of therapeutic applications, primarily focused on addressing various medical conditions characterized by anemia or iron deficiency. Anemia, a condition marked by a decrease In the total amount of red blood cells or the quantity of hemoglobin In the blood, can manifest in numerous contexts, including chronic kidney disease, inflammatory bowel disease, cancer, and other chronic diseases. Iron drugs play a crucial role in addressing anemia, which can result from various causes. Inflammatory conditions, such as rheumatoid arthritis and other autoimmune diseases, can lead to anemia due to chronic inflammation. Renal issues, including chronic kidney disease and acute kidney injury, can also result in anemia due to impaired kidney function and reduced production of erythropoietin, a hormone that stimulates the production of red blood cells. Liver disorders, such as hepatitis and cirrhosis, can also lead to anemia due to impaired iron metabolism.

Further, iron drugs are available in various forms, including intravenous (IV) and oral preparations. IV iron drugs, such as iron dextran, iron sucrose, ferric carboxymaltose, and others, offer advantages for patients with severe anemia or those who cannot tolerate oral iron medications. These drugs are administered intravenously, allowing for rapid delivery of iron to the body and improvement in hemoglobin levels. However, they carry the risk of gastrointestinal adverse effects, such as nausea, vomiting, and diarrhea, which can limit their use in some patients. Oral iron medications, on the other hand, are more commonly used for the treatment of mild to moderate anemia. These drugs are available in various forms, including ferrous sulfate, ferrous fumarate, and ferrous gluconate. While oral iron medications are generally well-tolerated, they can cause gastrointestinal side effects, such as constipation, diarrhea, and nausea, which can limit patient compliance.

In addition, anemia is a common complication in various patient populations, including women's health, mothers and children, and poor nations. Anemia in women's health can result from various causes, including pregnancy, menstruation, and chronic diseases. In mothers and children, anemia can result from nutritional deficiencies, chronic diseases, or other factors. In poor nations, anemia is a significant public health issue, affecting a large proportion of the population, particularly women and children. Iron drugs also play a crucial role In the treatment of various cancers, including lung, breast, blood, bone, cervical, and colon cancer. Cancer-induced anemia can result from the tumor's production of erythropoietin, which can lead to ineffective erythropoiesis and anemia. Iron drugs can help address anemia in cancer patients by providing the body with the iron it needs to produce new red blood cells.

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What are the Key Data Covered in this Iron Drugs Market Research and Growth Report?

• CAGR of the Iron Drugs industry during the forecast period
• Detailed information on factors that will drive the Iron Drugs market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the iron drugs market growth of industry companies

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