Iron deficiency injectable offer a solution to overcome poor adherence and non-compliance issues associated with oral iron medications. They also minimize adverse gastrointestinal effects. The increasing number of patients undergoing dialysis, the growing global elderly population, and rising expenditure on medications contribute to the market's growth. Additionally, the rising incidences of iron deficiency anemia further drive the demand for iron deficiency injectable as an effective treatment option, propelling market expansion.
According to Data Bridge Market Research, the Iron Deficiency Injectable Market was valued at USD 11.12 billion in 2022 and would grow to USD 22.5 billion by 2030 at a CAGR of 9.20% during the forecast period.
"High prevalence of iron deficiency anemia surge market demand"
Iron deficiency anemia is a widespread health issue globally, particularly prevalent in developing countries and specific population groups. The high prevalence of iron deficiency anemia drives the demand for iron deficiency injectable as an effective treatment option. These injectable provide a direct and efficient method of replenishing iron levels in the body, helping to address the underlying cause of the anemia and improving patients' overall health and well-being.
What restraints the growth of the iron deficiency injectable market?
"Cost implications can impede the market growth”
The cost of iron deficiency injectable can be higher compared to oral iron supplements, creating a challenge in regions with limited healthcare budgets or for patients without sufficient insurance coverage. The relatively higher cost may restrict the accessibility and adoption of these injectable, potentially impacting the treatment options available for individuals with iron deficiency anemia. Addressing the cost implications and exploring affordable alternatives can help improve the accessibility and uptake of iron deficiency injectable in such settings.
Segmentation: Global Iron Deficiency Injectable Market
The iron deficiency injectable market is segmented on the basis of product, application, distribution channel and end-users.
- On the basis of product, the iron deficiency injectable market is segmented into iron dextran, iron sucrose, ferric carboxymaltose, others.
- On the basis of application, the iron deficiency injectable market is segmented into chronic kidney disease, inflammatory bowel disease, cancer, others.
- On the basis of end-users, the iron deficiency injectable market is segmented into hospitals, homecare, specialty clinics, others.
- On the basis of distribution channel, the iron deficiency injectable market is segmented into hospital pharmacy, online pharmacy, retail pharmacy.
Regional Insights: North America Dominates the Global Iron Deficiency Injectable Market
North America holds a dominant position in the iron deficiency injectable market due to several factors. The region benefits from these injectables' increasing number of applications in cancer research, where iron supplementation is often required. Additionally, adopting cost-effective drugs in clinical diagnostics and establishing advanced research laboratories contribute to the market's growth in North America. These factors contribute to the region's overall dominance in the market.
The Asia-Pacific region has experienced significant growth in the iron deficiency injectable market due to increased government investment in the biopharmaceutical and biotechnology industry. This investment has facilitated the development of novel drugs and innovative medical treatments, including iron deficiency injectables. The supportive regulatory environment and focus on improving healthcare infrastructure in the region have further contributed to the positive growth of the market in Asia-Pacific during the forecasted period.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-iron-deficiency-injectable-market
The Prominent Key Players Operating in the Global Iron Deficiency Injectable Market Include:
- AbbVie Inc. (U.S.)
- Covis Pharma GmbH (U.S.)
- DAIICHI SANKYO COMPANY, LIMITED (Japan)
- Fresenius Kabi AG (Germany)
- Vifor Pharma Management Ltd.(Switzerland)
- PHARMACOSMOS A/S (Denmark)
- Shield Therapeutics plc (U.K.)
- American Regent, Inc. (U.S.)
- Rockwell Medical, Inc. (U.S.)
- Apotex Inc (Canada)
- Bayer AG (Germany)
- Akebia Therapeutics, Inc. (U.S.)
- GSK plc (U.K.)
- Novartis AG (Switzerland)
- Aetna Inc.(U.S.)
- Pfizer Inc (U.S.)
- Systacare Remedies (India)
- BSA Pharma Inc. (India)
Above are the key players covered in the report, to know about more and exhaustive list of global iron deficiency injectable market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Iron Deficiency Injectable Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
