Global Intravenous Iron Market, By Application (Gastroenterology, Gynaecology, Nephrology, Oncology, Cardiology, Hematology, Surgeries, Others), Product (Iron Dextran, Ferric Gluconate, Iron Sucrose, Ferric Carboxyl Maltose, Others), End-Users (Hospitals, Homecare, Speciality Centres, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029.
Intravenous Iron Market Analysis and Size
The global intravenous iron market is expected to witness significant growth during the forecast period. Anemia is one of the most common blood disorders in recent times. Intravenous iron drugs are facing much use because of its improved quality of treatment outside the dialysis, increasing the number of dialysis patients, growing number of diabetic patients worldwide and growing aging population. COVID-19 also had a major impact on the market growth.
Data Bridge Market Research analyses a growth rate in the global intravenous iron market in the forecast period 2022-2029. The expected CAGR of global intravenous iron market is tend to be around 9.0% in the mentioned forecast period. The market was valued at USD 2.40 billion in 2021, and it would grow upto USD 4.78 billion by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Iron is an important element and plays a key role in numerous vital biological processes such as production of neurotransmitters, synthesis of heme, formation of myoglobin, immune system function and formation of collagen. Oral iron supplements are the primary choice for the treatment of iron deficiency anaemia due to patient compliance, low cost and its effectiveness. But in some cases, oral administration is not preferred because of gastrointestinal side effects. In this case, intravenous iron formulations are recommended compared to oral formulations. Intravenous iron leads to higher and quick rise in iron and Hb levels. It is of great importance to the healthcare sector and thus is expected to rise high in the forecast period.
Intravenous Iron Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Gastroenterology, Gynaecology, Nephrology, Oncology, Cardiology, Hematology, Surgeries, Others), Product (Iron Dextran, Ferric Gluconate, Iron Sucrose, Ferric Carboxyl Maltose, Others), End-Users (Hospitals, Homecare, Speciality Centres, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Teva Pharmaceutical Industries Ltd.(Israel), Sanofi (France), Pfizer Inc. (U.S.), Novartis AG (Switzerland), Bayer AG (Germany), Merck & Co., Inc. (U.S.), Abbott (U.S.), AbbVie Inc. (U.S.), Sun Pharmaceutical Industries Ltd. (India), Hikma Pharmaceuticals PLC (U.K.), Covis Pharma GmbH (U.S.), PHARMACOSMOS A/S (Denmark), Vifor Pharma Management Ltd. (Switzerland)
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Market Opportunities
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Global Intravenous Iron Market Dynamics
Drivers
- Rising Incidences of Chronic Kidney Disease
As per the National Kidney Foundation, Inc., the two major causes of chronic kidney disease are diabetes and hypertension. Data indicates that around 10% of the global population is affected by chronic kidney disease, with more than 2 million individuals receiving dialysis on a regular basis. Majority of individuals who are suffering from this disease are not aware until serious symptoms appear. It is projected that the incidence of chronic kidney cases will rise across highly economic countries, such as India and China, which infers an increase in the elderly population over the coming years.
Opportunities
- Increase in Anaemia
As per the records of the National Heart, Lung, and Blood Institute, an estimated 3 million individuals suffer from anaemia in the U.S. Growing incidence of target diseases, such as kidney conditions, rheumatoid arthritis, autoimmune diseases, liver disorders, thyroid diseases, cancer, and inflammatory bowel diseases, is a major factor assisting the growth of the market for intravenous iron. According to WHO, around 42% of children below the age of 5 years and 40% of pregnant women are suffering from some form of anaemia. Thus, it creates opportunity for the market growth.
- Increasing Prevalence of Cancer
An increasing number of cancer patients tend to develop Iron Deficiency Anemia. Common types of cancer that are associated with anemia includes cervical cancer, blood cancer, bone cancer, colon cancer, and prostate cancer. Lung and breast tumors have been stated with the highest incidence of anemia among solid tumors. Hematologic malignancies such as leukemia, lymphoma, and multiple myeloma produce abnormal blood cells that consequently harm the immune system and cause anemia. Cancer treatments such as chemotherapy and radiation therapy also accelerate anemia in cancer patients. This creates more opportunity in the market.
Restraints/Challenges
- Adverse Effects of Iron Supplements
There are few adverse effects that are associated with the intake of iron drugs. Common adverse effects of oral iron drugs include digestive problems such as loss of appetite, stomach aches, constipation, nausea, and vomiting. The overdose of these drugs may also induce tiredness or weakness, convulsions, shallow or rapid breathing, fatigue, pale skin, and bluish skin or fingernails. Thus, this hampers the market growth.
- Stringent Regulations
There are several strict regulations that are associated with the intravenous iron drugs. Numerous government associations, such as the FDA and European Medicines Agency, have stringent regulations for approval of intravenous iron drugs. Thus, it hampers the market growth.
This global intravenous iron market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global intravenous iron market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Intravenous Iron Market
The COVID-19 outbreak has disturbed the manufacturing and supply of intravenous iron drugs, however, robust initiatives by manufacturer and government to meet the demand has supported the growth of the market for intravenous iron drugs. In addition, various studies have suggested that Covid-19 infection has amplified risk of Acute Kidney Injury (AKI) and CKD, which, in turn, has fueled the demand for intravenous iron drugs for the treatment of CKD-related anemia. As per the study published by the National Kidney Foundation, people hospitalized with COVID-19 are at significant risk of AKI. The study stated that patients hospitalized with COVID-19 were twice as likely to develop AKI compared to non-COVID patients. Health authorities recommended that COVID-19 patients who had an AKI should be tested often as their risk of developing CKD is higher than others.
Global Intravenous Iron Market Scope
The global intravenous iron market is segmented on the basis of application, product, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Gastroenterology
- Gynaecology
- Nephrology
- Oncology
- Cardiology
- Hematology
- Surgeries
- Others
Product
- Iron Dextran
- Ferric Gluconate
- Iron Sucrose
- Ferric Carboxyl Maltose
- Others
End-Users
- Hospitals
- Homecare
- Speciality Centres
- Others
Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
Intravenous Iron Market Regional Analysis/Insights
The global intravenous iron market is analysed and market size insights and trends are provided by application, product, distribution channel and end-user as referenced above.
The major countries covered in the global intravenous iron market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is expected to have the highest market growth due to increasing cases of oncology and kidney failure and high research and development, healthcare expenditure and skilled professionals..
North America dominates the market due to increased awareness, investment by government firm and presence of generic players..
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Intravenous Iron Market Share Analysis
The global intravenous iron market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global intravenous iron market.
Key players operating in the global intravenous iron market include:
- Teva Pharmaceutical Industries Ltd.(Israel)
- Sanofi (France)
- Pfizer Inc. (U.S.)
- GSK plc (U.K.)
- Novartis AG (Switzerland)
- Bayer AG (Germany)
- Cipla Inc. (U.S.)
- Abbott (U.S.)
- AbbVie Inc. (U.S.)
- Sun Pharmaceutical Industries Ltd. (India)
- Aurobindo Pharma (India)
- Lupin (India)
- Hikma Pharmaceuticals PLC (U.K.)
- Covis Pharma GmbH (U.S.)
- PHARMACOSMOS A/S (Denmark)
- Vifor Pharma Management Ltd. (Switzerland)
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