Robust Growth Predicted for Anemia and Blood Disorder Drugs Market Driven by Multiple Factors

The market for anemia and other blood disorder drugs has exhibited robust growth in recent years, with a projected increase from $11.13 billion in 2023 to $11.91 billion in 2024, showcasing a Compound Annual Growth Rate (CAGR) of 7.0%. The anemia and other blood disorder drugs market is expected to maintain this strong trajectory, reaching $15.49 billion in 2028, with a CAGR of 6.8%.

Rising Anemia Prevalence Acts as a Key Driver

The growth of the anemia and other blood disorder drugs market is strongly influenced by the increasing prevalence of anemia globally. Unhealthy lifestyles, changing dietary habits, and elevated stress levels have contributed to a rise in anemia cases worldwide. Notably, anemia has become highly prevalent among the elderly population, with a prevalence rate reaching approximately 17% for individuals over 65 years of age. The World Bank has identified anemia as the 8th leading cause of disease among women and the young population, emphasizing its significant impact and driving the demand for drugs in the anemia and other blood disorder drugs market.

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Rising Demand for Personalized Medicine Spurs Market Growth

Anticipated growth in the anemia and other blood disorder drugs market is driven by the increasing demand for personalized medicine. Personalized medicine involves utilizing an individual's genetic profile to inform decisions related to disease prevention, diagnosis, and treatment. This approach leads to more effective and targeted therapies for anemia and other blood disorders, ultimately making medical treatments more efficient and impactful. Notably, the FDA's approval of 37 new molecular entities in 2022, with approximately 12 classified as personalized medicines, underscores the rising demand for this innovative approach and its positive impact on the anemia and other blood disorder drugs market.

Public-Private Collaborations Drive Drug Development Advancements

Companies in the anemia and other blood disorder drugs market are engaging in collaborations with government agencies to advance drug development. These collaborations facilitate the sharing of knowledge, technology, and costs, particularly in the face of expiring licenses and stringent regulatory environments. For instance, Disc Medicine's collaboration with the National Institutes of Health (NIH) and the National Heart, Lung, and Blood Institute (NHLBI) for clinical trials of biopterin in patients with Diamond-Blackfan Anemia (DBA) exemplifies such collaborative efforts.

Focus on Developing Novel Medications Enhances Market Competitiveness

Major players in the anemia and other blood disorder drugs market are increasingly concentrating on introducing novel medications to gain a competitive edge. Novel medications represent significant advancements or new approaches to treating medical conditions or diseases. Bristol-Myers Squibb's recent FDA approval for Reblozyl as the first-line treatment of anemia in adults with lower-risk myelodysplastic syndromes highlights this focus on innovation. Reblozyl demonstrated superiority compared to an erythropoiesis-stimulating agent (ESA) in MDS-related anemia, marking a notable achievement in the field.

Global Dynamics and Market Segmentation

North America held the largest share in the anemia and other blood disorder drugs market in 2023, with the Middle East projected to be the fastest-growing region during the forecast period.

The anemia and other blood disorder drugs market covered in this report is segmented -
1) By Type: Iron Deficiency Anemia, Chronic Kidney Disease Anemia, Sickle Cell Anemia, Aplastic Anemia
2) By Route of Administration: Oral, Injectable
3) By Distribution Channel: Hospitals Pharmacy, Online Pharmacy, Pharmacy
Sub-Segments- Microcytic (Low MCV), Normocytic (Normal MCV), Macrocytic (High MCV)

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Anemia And Other Blood Disorder Drugs Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Anemia And Other Blood Disorder Drugs Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on anemia and other blood disorder drugs market size, anemia and other blood disorder drugs market drivers and trends, anemia and other blood disorder drugs market major players, anemia and other blood disorder drugs market competitors' revenues, anemia and other blood disorder drugs market positioning, and anemia and other blood disorder drugs market growth across geographies. The anemia and other blood disorder drugs market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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