Iron Deficiency Anemia Therapy Market Outlook Expands with Insights from Persistence Market Research

The global Iron Deficiency Anemia (IDA) Therapy Market is poised for significant growth, valued at USD 4.5 billion in 2024 and projected to reach USD 7 billion by 2031. This growth represents a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031. Key drivers of this expansion include a rising prevalence of iron deficiency anemia due to poor dietary habits, poor iron absorption, and an aging population. As healthcare infrastructure improves and awareness about iron deficiency increases, the market is expected to grow rapidly.

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Key Industry Highlights:

The growing number of IDA cases globally, particularly among populations suffering from chronic kidney disease (CKD), is one of the key drivers. Oral iron therapy, including Ferrous Sulphate, Ferrous Gluconate, and Ferrous Fumarate, as well as intravenous iron supplements like Sodium Ferric Gluconate and Ferric Hydroxide, remain the most lucrative therapy types within the market. In 2024, the market will see a significant increase in demand for Ferumoxytol, a high-dose intravenous iron therapy. Notably, a generic version of Feraheme, Ferumoxytol injection, was launched by Sandoz in June 2021, which is primarily used for treating patients with chronic kidney disease who either cannot tolerate oral iron or do not respond effectively to it.

Geographically, North America is anticipated to hold a significant share of the IDA therapy market. This dominance is due to a rising prevalence of iron deficiency anemia, a well-established healthcare infrastructure, and the presence of major market players in the region.

Iron Deficiency Anemia Therapy Market Overview

Market Size (2024E): USD 4.5 Billion
Projected Market Value (2031F): USD 7 Billion
Forecasted Growth Rate (CAGR 2024-2031): 7.6%
Historical Growth Rate (CAGR 2019-2023): 7.1%

Market Introduction and Trend Analysis

Iron deficiency anemia is a major global health concern, with around 30% of the global population affected by this condition. The World Health Organization (WHO) defines anemia as a condition where the blood has a lower-than-normal concentration of red blood cells or hemoglobin, impairing oxygen delivery throughout the body. Iron deficiency is the leading nutritional cause of anemia, and its prevalence is especially high among women, children, and pregnant women.

Key Statistics:

Global Prevalence: Approximately 30% of the world's population suffers from iron deficiency anemia, with women and children being the most affected.

Mortality Rates: Anemia-related mortality rates, particularly in the U.S., have shown an upward trend, exacerbating the urgency for effective treatment.

Risk Groups: High-risk populations include young children, menstruating adolescent girls and women, and pregnant or postpartum women. Additionally, individuals of non-Hispanic Black ethnicity in the U.S. show a higher propensity to develop iron deficiency anemia.

As the global healthcare system becomes more adept at managing iron deficiency, the future outlook for IDA therapy looks increasingly promising, with significant developments on the horizon.

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Iron Deficiency Anemia Therapy Market Growth Drivers

1. Rising Healthcare Expenditure

Healthcare spending continues to increase globally, leading to better infrastructure and improved access to therapies for conditions like iron deficiency anemia. A growing elderly population and increasing levels of inactivity among younger demographics contribute to rising rates of IDA, which propels market demand.

2. Improved Consumer Awareness

There is a marked increase in awareness regarding the need for regular screening and early diagnosis of iron deficiency anemia. As a result, more people are seeking treatment options, driving the demand for iron replacement therapies.

3. Advancements in Treatment Options

Continuous innovations in iron supplementation therapies, both oral and intravenous, are improving efficacy and patient compliance. Advances in parenteral iron formulations have led to safer, more effective treatments that can address iron deficiency more efficiently.

4. Increasing Geriatric Population

The aging population is highly susceptible to iron deficiency anemia due to factors such as malabsorption and chronic diseases. This demographic shift is expected to be a major driver of market growth in the coming years.

5. High Prevalence of Iron Deficiency Anemia

With a substantial portion of the global population suffering from anemia, particularly women and children, the need for effective therapies remains a key growth factor.

Market Impediments

1. Shortage of Skilled Healthcare Personnel

One of the most significant challenges in managing iron deficiency anemia is the shortage of skilled healthcare workers, particularly in developing economies where the prevalence of anemia is high. The lack of sufficient medical professionals to diagnose and treat the condition could limit market growth in these regions.

2. High Cost of Treatment

Iron deficiency anemia treatments, particularly intravenous formulations, can be costly, which might deter many patients, especially in low-income regions, from seeking therapy. This cost factor can be a key restraint on market expansion, particularly in emerging economies.

Future Opportunities in Iron Deficiency Anemia Therapy Market

1. New Product Launches

Innovations in treatment options, such as the generic version of Feraheme launched by Sandoz in 2021 and the FDA-approved Ferric Derisomaltose injection, provide significant opportunities for market growth. As new, more affordable and effective products hit the market, they can broaden the patient base and improve treatment outcomes.

2. Untapped Markets

Regions like Asia Pacific, Latin America, and the Middle East and Africa present significant growth potential. These areas, with large patient populations suffering from iron deficiency anemia, represent untapped markets that can drive demand for both oral and intravenous iron supplements.

Category-wise Analysis

1. Parenteral Iron Therapy Dominates the Market

Parenteral iron therapy is expected to dominate the iron deficiency anemia market, with an anticipated market share of 60% in 2024. Parenteral iron formulations are gaining prominence due to their effectiveness in cases where oral iron therapy is ineffective or poorly tolerated. This therapy is essential for patients with chronic conditions such as kidney disease or gastrointestinal disorders, which can impair iron absorption.

2. Adult Segment Leads Market Share

The adult segment is expected to contribute significantly to market revenue, with 63.4% of the market share in 2024. This is driven by the higher incidence of iron deficiency anemia among adults, particularly women of childbearing age and the elderly population.

Regional Insights

North America: Leading the Market

North America is set to dominate the global iron deficiency anemia therapy market, accounting for an estimated 36.56% of the market share in 2024. The region's strong healthcare infrastructure, high healthcare expenditure, and growing awareness about iron deficiency are major contributing factors. The U.S. is particularly focused on developing new treatment options, with increasing demand for intravenous iron therapies and other iron supplementation products.

Asia Pacific: Rapid Growth Potential

The Asia Pacific region is expected to witness the fastest market growth. High population density, an increasing elderly population, and improving healthcare awareness are driving the market. Additionally, growing urbanization and lifestyle changes are contributing to the increasing prevalence of iron deficiency anemia in the region.

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Competitive Landscape

The competitive landscape of the iron deficiency anemia therapy market is evolving rapidly, with several key players introducing new therapies and formulations to stay ahead in the market. Leading companies in the sector include AbbVie, Akebia Therapeutics, AMAG Pharmaceuticals, Daiichi Sankyo, Pharmacosmos, Sanofi, and Johnson & Johnson. These companies are engaged in the development, manufacturing, and marketing of both oral and intravenous iron therapies.

Key Industry Developments

March 2024: Cadila Pharmaceuticals launched a new iron supplement injection for IDA treatment.

May 2021: FDA approval for Injectafer (ferric carboxymaltose injection) by American Regent for the treatment of IDA in adult patients.

June 2021: Sandoz launched a generic version of Feraheme for the treatment of iron deficiency anemia.

These developments underscore the dynamic nature of the market, with continuous advancements aimed at improving the efficacy and accessibility of iron deficiency anemia treatments.

Iron Deficiency Anemia Therapy Market Segmentation

By Product Type

Ferrous Sulphate
Ferrous Gluconate
Ferrous Fumarate
Ferric Hydroxide
Others

By Therapy Areas

Inflammatory Bowel Disease
Renal
Obstetrics and gynaecology
Congestive heart failure (CHF)
Oncology
Other therapy areas

By Age Group

Adults
Paediatric
Geriatric

By Formulation

Tablets
Capsules
Liquids
Others

By Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

By Region

North America
Europe
Asia Pacific
Latin America
The Middle East and Africa

Future Outlook

The iron deficiency anemia therapy market is expected to experience robust growth in the coming years. Key drivers include an increasing prevalence of IDA, rising healthcare awareness, and continuous improvements in treatment efficacy. Despite challenges such as high treatment costs and a shortage of skilled professionals in certain regions, the market is poised for expansion, especially in emerging economies.

With innovations in iron replacement therapies and growing patient awareness, the future of iron deficiency anemia treatment looks promising. As the global healthcare system continues to evolve and more effective therapies are introduced, the market for IDA therapy will likely see sustained growth, benefiting from both new product developments and expanded market reach in untapped regions.

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