Australia Iron Deficiency Anemia Therapy Market, By Therapy (Oral Iron Therapy, Parenteral Iron Therapy), Therapy Area (Obstetrics and Gynecology, Renal, Congestive Heart Failure (CHF), Inflammatory Bowel Disease, Oncology, Others), Population (Adults, Pediatrics), Country (Australia). Industry Trends and Forecast to 2028.
Market Analysis and Insights: Australia Iron Deficiency Anemia Therapy Market
The Australia iron deficiency anemia therapy market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.9% in the forecast period of 2021 to 2028 and is expected to reach USD 59.41 million by 2028. Rising cases of hemodilution in pregnancy and the rising prevalence of iron deficiency have improved the demand for iron and folic acid supplements, thus acts as a driver for the iron-deficiency anemia therapy market growth.
Anemia is a condition where the body doesn't have enough red blood cells to carry oxygen to tissues. Hemoglobin is the protein present in RBCs which is responsible for carrying oxygen to the tissues. Iron deficiency anemia is the most common type of anemia when the body doesn't have enough of the mineral iron. The body needs iron to make hemoglobin.
Anemia has a multitude of precipitating factors. From a clinical perspective, anemia is commonly is reported in patients with chronic conditions of inflammation, infection, or malignancy, such as cancer, rheumatoid arthritis, renal disease, and heart failure. Moreover, in populations not suffering from chronic disease, anemia is essentially caused by micronutrient deficiencies, infectious diseases, and genetic predispositions. Iron-deficiency anemia (IDA) is the most common nutritional cause of anemia worldwide. The most common cause of iron deficiency anemia in women of childbearing age is a loss of iron in the blood due to heavy menstruation or pregnancy. The symptoms of iron deficiency anemia can be mild at first such as general fatigue, pale skin, weakness, dizziness, and headaches, among others. The iron deficiency is treated with oral iron therapy, parenteral iron therapy, and other supplementation, among others.
The rising prevalence of anemia, increasing cases of hemodilution in pregnancy, along rising diagnosis and evaluation of iron-deficiency anemia is expected to drive the market growth. On the other hand, side effects of iron supplements may hinder the growth of the Australia iron-deficiency anemia therapy market.
The rising healthcare expenditure may act as an opportunity for the Australia iron deficiency anemia therapy market. However, stringent rules and regulation is acting as one of the challenges of the market.
This Australia iron deficiency anemia therapy market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
Anemia iron deficiency anemia therapy market scope and market size
The Australia iron deficiency anemia therapy market is segmented on the basis of therapy, therapy area, and population. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of therapy, the Australia iron deficiency anemia therapy market is segmented into oral iron therapy and parenteral iron therapy. In 2021, the oral iron therapy segment is dominating is expected to dominate the market because of the high prevalence of anemia in Australia.
- On the basis of therapy areas, the Australia iron-deficiency anemia therapy market is segmented into obstetrics and gynecology, renal, congestive heart failure, inflammatory bowel disease, oncology, and others. In 2021, the obstetrics and gynecology segment is dominating expected to dominate the market because of menstrual and pregnancy bleeding.
- On the basis of population, the Australia iron deficiency anemia therapy market is segmented into adults and pediatric. In 2021, the adult segment is expected to dominate the market because of the high prevalence of chronic diseases in adults, which leads to anemia.
Australia Iron-Deficiency Anemia Therapy Market Country Level Analysis
The Australia iron deficiency anemia therapy market is analyzed, and market size information is provided by the therapy, therapy area and population as referenced above.
The iron products segment in Australia is expected to grow with the highest growth rate in the forecast period of 2021 to 2028 because of increasing awareness among pregnant women regarding anemia conditions and suitable iron supplements consumption.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Australian brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growing strategic activities by major market players to enhance the awareness for anemia in pregnancy, is boosting the market growth of australia iron deficiency anemia therapy market
The Australia iron deficiency anemia therapy market also provides you with a detailed market analysis for every country's growth in a particular market. Additionally, it provides detailed information regarding the market players' strategy and their geographical presence. The data is available for the historical period 2010 to 2019.
Competitive Landscape and Australia Iron Deficiency Anemia Therapy Market Share Analysis
Australia iron deficiency anemia therapy market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company's focus related to Australia iron-deficiency anemia therapy market.
The major companies which are dealing in the Australia iron deficiency anemia therapy are Aspen Pharmacare Australia Pty Ltd., Pharmacare Laboratories Australia, AFT Pharmaceuticals, BLACKMORES, Pfizer Inc., Merck KGaA, Australian NaturalCare, Thorne, Vifor Pharma Management Ltd., SHIELD THERAPEUTICS, Sanofi, Fresenius Kabi AG, PHARMACOSMOS A/C, GlaxoSmithKline plc, among others domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts and agreements are also initiated by the companies worldwide, which are also accelerating the Australia iron-deficiency anemia therapy market.
For instance,
- In April 2021, Sanofi announced that it successfully completed the acquisition of Kiadis, which is a clinical-stage biopharmaceutical company. This acquisition enhanced the company's treatment strategies, thereby improving the company's overall revenue in the market
- In November 2021, Pfizer, Inc. announced that its division named Upjohn is combined with Mylan N.V. and formed a new company named Viatris. This combination of the company's business division with Mylan N.V. has increased its product portfolio, leading to increased demand for its product in the market. Collaboration, product launch, business expansion, award and recognition, joint ventures, and other strategies by the market player are enhancing the company's footprints in the Australia iron-deficiency anemia therapy market, which also provides the benefit for the organization's profit growth
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