Global Intravenous Iron Drugs Market Size Estimated to Reach US $4.02 Billion by 2028: Polaris Market Research

06 Jun 2022
www.prnewswire.com
NEW YORK, June 6, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on
"Intravenous Iron Drugs Market Share, Size, Trends, Industry Analysis Report, By Application (Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, Others), By Products (Iron Dextran, Iron Sucrose, Ferric Carboxymaltose, Others), By Region; Segment Forecast, 2021 - 2028" in its research database.
According to recent research study, the global intravenous iron drugs market size & share is expected to
grow at a CAGR of 8.6% between 2021 and 2028. The cold chain monitoring industry revenue of USD 2.22 billion in 2020 is
expected to grow up to USD 4.02 billion by 2028.
What is Intravenous Iron Drugs? How Big is Intravenous Iron Drugs Market?
Report Overview
Iron is an essential mineral that our bodies need for many biological functions such as synthesis of heme, energy metabolism, neurotransmitter production, formation of myoglobin, formation of collagen, and immune system function. The deficiency of iron can cause iron deficiency anemia (IDA). Iron supplements can help convert low iron levels or treat iron deficiency anemia. Intravenous iron drug supplementation is the process of delivering iron to the body through a needle into a vein. Patients unable to tolerate or absorb oral iron or suffering from heavy menses, celiac disease can take IV iron drugs.
Iron supplements are of two types: oral and intravenous. Intravenous iron drugs are superior compared to oral supplements as these lead to a higher and faster increase in iron and Hb levels. Other benefits of these drugs include increased energy and easier breathing. The growing demand for intravenous iron drugs owing to the rising number of research and development activities is fueling the growth of the global intravenous iron drugs market. Surging cases of Inflammatory Bowel Disease (IBD), and cancer around the globe have led to an increase in the need for intravenous iron drugs, which is expected to propel market growth
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The Reader Will Find the Following Key Points from This Research Document
Existing intravenous iron drugs market size and overview
Challenges and opportunities
Best regions and segments to target
Touchpoints and an opportunity breakdown within the value chain
The growth rate during the forecast period
Key factors driving the intravenous iron drugs market
Key market trends cracking up the growth of the market
Key vendors of the intravenous iron drugs market
Opportunities and threats faced by the existing vendors
Top Players in the Global Market Are:
Allergan
Daiichi Sankyo Company Ltd. (American Regent. Inc.)
Sanofi
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Intravenous Iron Drugs Market: Driving Factors
The launch of new formulations with innovative development and the rising incidences of chronic kidney diseases & anemia is expected to propel the intravenous iron drugs market growth. The growing research and activities, and increasing awareness of diagnosis and treatment of anemia are anticipated to drive the market growth over the forecast period. Rise in iron deficiency anemia in gynecology, oncology, and gastroenterology, noncompliance with oral therapy, and convenient access to IV iron dosages duel the demand for intravenous iron drugs. Moreover, the surge in prevalence of chronic diseases, such as cancer, inflammatory bowel diseases, diabetes, and acute and chronic infections is further boosting the significant demand for intravenous iron drugs. In addition, several government activities by the government and drug manufacturers are expected to accelerate the growth of the intravenous iron drugs market globally.
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Intravenous Iron Drugs Market: Key Insights, Dynamics & Research Scope
Also Read: Press Release on Intravenous Iron Drugs Market Size Worth $4.02 Billion by 2028 | CAGR: 8.6%
Intravenous Iron Drugs Market: Segmentation
Insight by Product
On the basis of product, the market is segmented into iron dextran, iron sucrose, ferric carboxymaltose, and others. The Ferric carboxymaltose (FCM) segment is accounted for the largest market share in 2020 and is anticipated to continue its dominance in the intravenous iron drugs market in the forecast period. This growth can be attributed to growing applications in intravenous drug discovery, enhanced performance skills, and increasing cost-effectiveness. FCMFCM is majorly used to treat diseases such as iron deficiency anemia, chronic kidney disease, heavy uterine bleeding, and inflammatory bowel disease. Thus these factors are contributing to the growth of this segment around the world which will boost the intravenous iron drug market. The others segment including ferric gluconate, iron isomaltoside, ferumoxytol drugs, and ferric pyrophosphate citrate is expected to generate significant growth over the foreseen period.
Insight by Application
Based on application, the market is categorized into chronic kidney disease, inflammatory bowel disease, cancer, and others. The chronic kidney disease segment witnessed the largest market share in 2020 owing to rising cases of chronic kidney disease (CKD) and the growing prevalence of iron deficiency anemia among CKD patients. People suffering from CKD are more likely to develop anemia compared to the general population. Thus, the rising cases of CKD worldwide are expected to increase demand for intravenous iron drugs, which will contribute to the segment growth.
Moreover, the cancer segment is projected to record the highest CAGR in the intravenous iron drug market due to the high incidence of cancer and rising IDA cases worldwide. The most common types of cancer that are associated with anemia include blood cancer, bone cancer, cervical cancer, colon cancer, and prostate cancer.
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The recent outbreak of Covid-19 positively affected the intravenous ferrous drugs market across the world. This is because, Covid-19 caused an increase in chronic kidney diseases (CKD) and Acute Kidney Injury (AKI), which boost the market demand for intravenous iron drugs. According to the National Kidney Foundation, hospitalized Covid-19 patients are more likely to develop AKI in comparison to non- Covid patients.
Geographic Overview: Intravenous Iron Drugs Market
Based on geography, North America accounted for the largest market share in 2020 and is anticipated to continue its dominance in the global market during the forecasting period. The key factors contributing to this regional growth in the intravenous iron drugs market include growing approvals by the healthcare professionals and the launch of new formulated intravenous drugs. Also, the increasing incidences of gastrointestinal disorders, cancer, and chronic kidney diseases, along with the growing awareness regarding female health are some of the factors driving the market growth in the region.
Further, the Asia Pacific market is projected to witness the fastest growth rate over the forecast period owing to increasing investment by governments, developing healthcare infrastructure, and the rising presence of key players in Asia Pacific countries. In addition, the increasing prevalence of IDA in emerging nations such as China and India also led to the growth of the intravenous iron drugs market.
Browse the Detail Report
"Intravenous Iron Drugs Market Share, Size, Trends, Industry Analysis Report, By Application (Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, Others), By Products (Iron Dextran, Iron Sucrose, Ferric Carboxymaltose, Others), By Region; Segment Forecast, 2021 - 2028" with in-depth TOC:
https://www.polarismarketresearch.com/industry-analysis/intravenous-iron-drugs-market
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The market is primarily segmented on the basis of product, application, and region.
Intravenous Iron Drugs Market: By Product Outlook
Others
Intravenous Iron Drugs Market: By Application Outlook
Cancer
Others
Key Questions Answered:
Who are the leading key players, and what are their critical business plans in the global intravenous iron drugs market?
What are the critical concerns of the five forces analysis?
What are the different prospects and threats faced by the dealers?
What are the strengths and weaknesses of the key vendors?
What are the main trends that have a positive impact on the growth of the global intravenous iron drugs market?
What are the growth opportunities that could emerge in the industry in the coming years?
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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