Global Iron Deficiency Anemia Market - 2023-2030

Overview

Global Iron Deficiency Anemia Market reached US$ 3.2 billion in 2022 and is expected to reach US$ 9.4 billion by 2030, growing with a CAGR of 4.3% during the forecast period 2023-2030.

One typical kind of anaemia, iron deficiency anaemia (IDA), occurs when the body's supply of healthy red blood cells is inadequate. The body's tissues receive oxygen through red blood cells. Anaemia caused by iron deficiency is a worldwide health issue. There have been continuous initiatives to increase public awareness of its incidence and significance. The goal of public health campaigns and education initiatives is to educate people about the dangers, signs, and significance of early diagnosis and treatment. In controlling IDA, iron supplementation is still a critical component, particularly when dietary intake is insufficient or when the body's need for iron is elevated (such as during pregnancy).

It has been explored to use several types of iron supplements and compliance-improving techniques. Numerous health issues, including weakness, weariness, lowered immunological response, and cognitive impairment, can be brought on by IDA. In severe circumstances, children's growth and development can be hampered in addition to heart problems. Due to medical expenses, decreased productivity, and potential long-term effects of untreated anaemia, iron deficiency anaemia imposes a major economic burden.

Dynamics

Rising Product Approvals and Product Launches

The IDA is a widespread global health problem that affects people of all ages and communities. Researchers and healthcare experts have focused on it because of its high prevalence to learn more about its causes and effects. Research on nutrition frequently overlaps with clinical investigations on IDA. Dietary habits, nutrient absorption, and the impact of various dietary treatments on iron status are all topics of research. As a result, the market expansion is fueled by the increase in product approvals.

For instance, on June 06, 2023, The US Food and Drug Administration (FDA) approved the use of INJECTAFER (ferric carboxymaltose injection) to treat iron deficiency in adult heart failure patients, according to a statement from American Regent and Daiichi Sankyo. Patients with heart failure who are classified as New York Heart Association class II/III based on the severity of their symptoms are advised for the therapy to increase exercise capacity. The FDA has now approved an intravenous iron replacement therapy for adult patients with heart failure, a chronic and progressive condition, for the first and only time.

Moreover, in March 2020, for the treatment of people with iron deficiency anaemia who are intolerant to oral iron, whose condition has not improved with oral iron, or who have non-hemodialysis dependent chronic kidney disease, the FDA has approved the ferric derisomaltose injectable. Based on safety and efficacy findings from two open-label, randomised clinical trials including ferric derisomaltose and a total of 3,050 patients with various forms of iron deficient anaemia, the agency approved the drug. Participants in the first trial (FERWON-IDA) were randomly assigned to receive either ferric derisomaltose or iron sucrose at a 2:1 ratio. So, all of those factors aid in accelerating market expansion.

Rising Prevalence of IDA

One of the major causes of the global burden of disease, iron deficiency disproportionately affects children, premenopausal women, and residents of low- and middle-income nations. Clinical and functional deficits can happen even in the absence of anaemia, one of numerous iron shortage effects. When the body's overall iron stores are low or an infection prevents the release of iron from the plasma, erythroblasts and other tissues become iron-depleted. Hepcidin, the primary regulator of systemic iron homoeostasis, plays a key role in both of these scenarios.

In the majority of instances, oral iron therapy is the first line of defence. The effectiveness of oral iron absorption during inflammation and at high doses is constrained by hepcidin the overexpression caused by iron supplementation. Modern parenteral iron formulations have significantly changed the way that iron is treated and make total-dose iron replacement quick and safe. As a result, the increase in IDA instances will aid to accelerate market growth.

For instance, anaemia can have numerous causes, but the most typical one is iron deficiency. Iron deficiency is the most prevalent nutritional problem worldwide, according to the World Health Organisation (WHO). According to research, up to 80% of individuals worldwide may not have enough iron in their bodies. Additionally, it implies that up to 30% of people suffer from anaemia as a result of chronic iron shortage. Thus, all of these explains boost market expansion.

Side Effects Associated with IDA Drugs

Drugs used to treat iron deficiency anaemia (IDA) may have a variety of negative effects, depending on the drug type and the patient's response to the therapy. To treat IDA, many supplements and drugs containing iron are utilised, each of which has a unique set of potential side effects.

Persistent weariness and a sense of weakness are two of the most prevalent signs and symptoms of IDA. Other adverse effects of oral iron supplements include nausea, vomiting, abdominal discomfort, and diarrhoea. This happens because the body's cells are not obtaining enough oxygen to function efficiently. Sometimes taking the supplement with food or changing the dosage will help to lessen these negative effects.

Segment Analysis

The global iron deficiency anemia market is segmented based on therapy type, age group, therapy areas, end user and region.

Iron Deficiency Anemias Easily Affected to New Born Babies

There are numerous causes of iron deficient anaemia in infants and young children. For instance, young children and babies experience rapid growth and development, requiring for a substantial amount of iron. Haemoglobin, a protein in red blood cells that transports oxygen, is made possible by iron. Babies need more iron as they grow because their blood volume expands to support their growing bodies and blood supply.

Although mothers transfer some iron to their kids after birth, these stores are insufficient to meet the body's increasing demands. Iron is also found in breast milk and formula, but as a baby becomes older, their needs for iron may outgrow these sources. Caretakers occasionally postpone adding iron-rich foods to a baby's diet because they are worried about allergies or choking risks. Due to the delay, there is a higher chance of developing an iron shortage. Thus, all of these factors aid in accelerating segment expansion.

Geographical Penetration

Rising Product Approvals and Product Launches in the North American Region

Due to the well-established healthcare infrastructure, growing public awareness, and beneficial government-led programmes, North America dominates the IDA market. A significant driving force in the region is the expansion of R&D activities coupled with improved research infrastructure. Furthermore, the region dominates the IDA market due to the region's significant nutrition and supplement companies.

Additionally, rising product approvals for treatments for iron deficiency anaemia and rising corporate focus on creating efficient treatments are all expected to fuel market expansion in the region over the forecast period. For instance, on July 16, 2021, an injectable drug used to treat iron deficiency anaemia (IDA), generic Ferumoxytol is currently easily accessible in the US, according to Sandoz, a global leader in generic and biosimilar medications.

AMAG Pharmaceuticals' Feraheme (ferumoxytol injection) generic equivalent ferumoxytol is licenced to treat IDA in adult patients with chronic kidney disease, an intolerance to oral iron, or who have had an unsatisfactory response to oral iron. The whole IV iron market in the world is now worth over $1 billion and is still expanding. Thus, the aforementioned elements aid in accelerating regional growth.

COVID-19 Impact Analysis

Due to the enormous number of COVID-19 cases during the early phases of the pandemic, numerous healthcare systems encountered difficulties worldwide. Routine check-ups and screenings that were not absolutely necessary for health were frequently postponed or cancelled. This might have had an impact on the early detection and treatment of ailments like IDA. The availability of iron supplements and associated drugs needed to treat IDA may have been impacted by the global disruption of production and supply systems. It's possible that this caused shortages or distribution difficulties.

The pandemic caused other clinical trials and other research projects that were unrelated to COVID-19 to be postponed or delayed. This might have had an impact on ongoing research into IDA management and treatments. The adoption of telehealth services as a substitute for in-person visits was boosted by the pandemic. This change may have had an impact on how patients sought out medical care for IDA diagnosis and treatment.

By Therapy Type

• Oral Iron Therapy
• Parenteral Iron Therapy
• Red Blood Cell Transfusion
• Others

By Age Group

• Pediatric
• Adults

By Therapy Areas

• Obstetrics and Gynecology
• Oncology
• Congestive Heart Failure (CHF)
• Inflammatory Bowel Disease
• Renal
• Others

By End User

• Hospitals
• Clinics
• Home care setting

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• On May 15, 2023, Emcure Pharmaceuticals Limited (EPL) recently launched Orofer FCM 750, a new expansion of its parenteral iron brand that contains Ferric carboxymaltose (FCM), in an effort to offer patients with iron deficiency and iron deficiency anaemia (IDA) an efficient and practical treatment choice. Emcure India is the first business to introduce the 750 mg injectable form of ferric carboxymaltose. The majority of Indian patients with iron deficiency and iron deficiency anaemia (IDA) can receive a single dose of FCM up to 750 mg of iron with this innovative intervention in 15 minutes.
• On September 09, 2022, the rights to market MonoFerric (iron isomaltoside) injections in India and Nepal have been acquired by Zydus Lifesciences Ltd. from Pharmacosmos A/S, a Danish company. Iron isomaltoside 1000 solution for injection or infusion, also known as MonoFerric, is a fast, single-dose IV iron with an excellent safety profile that can be administered up to 20 mg/kg of body weight.
• On March 24, 2021, the pharmaceuticals and medical devices agency (PMDA) has provided the go-ahead for Riona Tablets 250mg (Riona), also known as ferric citrate hydrate in Japan, to be used in the treatment of adult patients with iron deficiency anaemia (IDA), according to Akebia Therapeutics, Inc.

Competitive Landscape

The major global players in the market include: Daiichi Sankyo Company, Novartis AG, Rockwell Medical Inc, Iron4u Aps, AbbVie Inc, Sanofi, Disc Medicine Inc, Pfizer Inc, Akebia Therapeutics, Keros Therapeutics Inc and among others.

Why Purchase the Report?

• To visualize the global iron deficiency anemia market segmentation based on therapy type, age group, therapy areas, end user and region,as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of iron deficiency anemia market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global Iron Deficiency Anemia market report would provide approximately 61tables, 58figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies