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Iron Deficiency Injectable Market Forecast 2024: Global Insights and Emerging Opportunities
Iron Deficiency Injectable Market Forecast
According to The Business Research Company's, The iron deficiency injectable market size has grown rapidly in recent years. It will grow from $12.75 billion in 2023 to $14.06 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to high prevalence of iron deficiency anemia treatments, bariatric surgery patients, pediatric and adolescent patients, growing pregnancy.
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Market Drivers and Trends:
The increasing prevalence of polycystic ovar*y syndrome (PCOS) is expected to propel the growth of the iron deficiency injectables market going forward. Polycystic ovar*y syndrome (PCOS) is a common hormonal disorder that affects people with ovaries, primarily women of reproductive age. Polycystic ovar*y syndrome (PCOS) leads to iron overload, which results in excessive blood loss during menstruatio*n and makes patients anemic, which can be cured by injectable iron deficiency medications. For instance, in June 2023, according to the World Health Organization, a US-based specialized health agency, globally, polycystic ovar*y syndrome (PCOS) affects an estimated 8-13% of reproductive-aged women, among whom 70% remain undiagnosed. Therefore, the prevalence Of polycystic ovar*y syndrome (PCOS) is driving the growth of the iron deficiency injectables market.
Major companies operating in the iron deficiency injectables market are developing new therapies, such as INJECTAFER, to sustain their position in the market. For instance, in June 2023, Daiichi Sankyo Company, a US-based healthcare company and American Regent Inc., a US-based injectables manufacturer, launched INJECTAFER (ferric carboxymaltose injection) for iron deficiency, which the Food And Drug Administration, a US-based government agency, approved. This is the first and only intravenous iron replacement therapy for adult patients with chronic and progressive heart failure to receive FDA approval. More than 40 clinical trials involving more than 8,800 participants from different countries were examined with INJECTAFER. This latest approval builds on INJECTAFER's successful and demonstrated use in these patients, including adult and pediatric patients with iron-deficient anemia and heart failure.
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Major Key Players of the Market:
Daiichi Sankyo Company Limited, Pfizer Inc., Aetna Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A, AstraZeneca PLC, GSK PLC, Fresenius Medical Care, Teva Pharmaceutical Industries Ltd., Mylan N.V., B Braun Medical Inc., Sandoz, Fresenius Kabi AG, Cipla Limited, Emcure Pharmaceuticals Ltd., AMAG Pharmaceuticals Inc., Luitpold Pharmaceuticals Inc., Akebia Therapeutics Inc., Covis Pharma GmbH , Keryx Biopharmaceuticals Inc., Rockwell Medical Inc., American Regent Inc., Galen Medical Group.
Iron Deficiency Injectable Market 2024 Key Insights:
• The iron deficiency injectable market size is expected to grow to $20.68 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%.
• Rising Prevalence Of Pcos Fuels Demand For Iron Deficiency Injectables
• Companies Introduce Innovative Iron Deficiency Therapies Like Injectafer To Expand Market Presence
• North America was the largest region in the iron deficiency injectable market in 2023.
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