Iron Deficiency Anemia Therapy Market to Grow with a CAGR of 7.72% through 2029
Rising incidences of chronic diseases are expected to
drive the Global Iron Deficiency Anemia Therapy Market in the forecast period.
According to TechSci Research report, “Iron
Deficiency Anemia Therapy Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2029”, the Global
Iron Deficiency Anemia Therapy Market stood at USD 3.35 billion in 2023 and is
anticipated to grow with a CAGR of 7.72% in the forecast period, 2025-2029. The
demand for personalized medical solutions is increasing. The growth of the
market for iron deficiency anemia (IDA) therapy can be attributed to the
increasing prevalence of the disease, which is caused by factors like
inadequate iron intake, blood loss, the body's inability to absorb iron, and
coexisting medical conditions, among others. Certain groups, such as women,
infants, children, vegetarians, and frequent blood donors, are more susceptible
to IDA. Nevertheless, factors driving the global iron deficiency anemia
market's expansion include heightened awareness of women's nutritional health,
advancements in parenteral nutrition supplements, and the introduction of new
products. The primary method for diagnosing
anemia is a complete blood count test. IDA can be managed through a proper diet
that includes foods like red meat, iron-rich vegetables, nuts, iron
supplements, and vitamin C. Furthermore, increased research and development
efforts to enhance oral iron supplements, a rising incidence of IDA in low- and
middle-income countries, a growing prevalence of specific diseases like cancer,
an increased risk of hemodilution, and a growing elderly population are
expected to drive market growth in the forecast period.
During the COVID-19 pandemic, a higher incidence of Iron Deficiency Anemia (IDA) with low hemoglobin levels was observed among females. A study published by the NCBI in January 2021 revealed that approximately 61% of the sample population suffered from anemia, with females displaying lower hemoglobin levels compared to males. Consequently, the increased prevalence of IDA in females is expected to drive greater demand for iron anemia therapy, positively impacting the market. However, the potential side effects associated with anemia therapy deficiency and iron-rich supplements could pose challenges to market growth in the future. Ferrous-containing supplements may induce digestive issues such as nausea, vomiting, stomach pain, and decreased appetite. Moreover, in patients with inflammatory bowel disease (IBD), the use of oral iron medications may be complex and could reduce adherence to treatment. Overdosing on these medications may lead to symptoms including breathing difficulties, weakness, bluish skin discoloration, and pale nail coloration, potentially impeding market expansion.
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Global Iron Deficiency Anemia (IDA) Therapy Market is propelled by several key factors. Firstly, the widespread prevalence of IDA, particularly in low- and middle-income countries, creates a significant demand for effective therapies to address this health issue. Secondly, there is a growing awareness among healthcare providers and the general population about the consequences of IDA, leading to increased medical evaluation and treatment seeking, thereby boosting demand for therapies. Also, ongoing research and development efforts have resulted in advancements in therapeutic approaches for IDA, including improved iron supplementation methods, innovative iron formulations, and combination therapies. Additionally, government initiatives and health programs, particularly targeting vulnerable populations like pregnant women and children, contribute to market growth through the distribution of iron supplements and fortified foods.
The global rise in healthcare spending, particularly in emerging economies, allows for greater investment in diagnostic tools and treatment options for IDA, further driving market expansion. Continued research into IDA and its treatment promotes the development of new therapies and diagnostic tools, while special attention to pediatric and maternal health aims to prevent and treat IDA during critical stages such as pregnancy and infancy. IDA therapy plays a vital role in addressing global health concerns related to malnutrition and improving overall public health, making it a priority for healthcare systems and organizations worldwide. These factors collectively contribute to the growth of the Global Iron Deficiency Anemia Therapy Market, ensuring effective treatments are available to those in need and alleviating the health and economic burdens associated with IDA.
Global Iron Deficiency Anemia Therapy Market is
segmented into therapy type, end user, regional distribution, and company.
In terms of therapy type, the market is segmented into Oral Iron Therapy, Parenteral Iron Therapy, and Red Blood Cell Transfusion. The Oral Iron Therapy segment is projected to witness growth during the forecast period. This is attributed to its convenience, cost-effectiveness, and non-invasive nature. Oral iron supplements are readily available, affordable, and can be self-administered by patients. In contrast, Parenteral Iron Therapy involves injections, which may be less convenient and often require healthcare professionals for administration. Red Blood Cell Transfusion is typically reserved for severe cases of anemia due to its higher risks and costs. Overall, the preference for less invasive and more accessible treatment options has led to the dominance of Oral Iron Therapy in managing iron deficiency anemia.
Based on end users, the market is segmented into Hospitals, Clinics, and Home Healthcare. The Hospitals segment dominated the market in 2023. This is attributed to hospitals' comprehensive care capabilities, advanced medical infrastructure, and capacity to handle severe cases. Hospitals offer a wide range of medical services, making them the primary choice for diagnosing and treating complex conditions, including severe cases of iron deficiency anemia that may require more intensive interventions and monitoring.
Major companies operating in Global Iron Deficiency
Anemia Therapy Market are:
- Pharmacosmos A/S
- AMAG Pharmaceuticals Inc.
- Sanofi SA
- AbbVie Inc.
- Fresenius SE & Co. KGaA
- Keryx Biopharmaceuticals Inc.
- Akebia Therapeutics Inc.
- Pieris Pharmaceuticals Inc
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“The Global Iron Deficiency Anemia (IDA) Therapy
Market is driven by several factors, including the increasing prevalence of IDA
due to inadequate iron intake and comorbid conditions. Rising awareness of
women's nutritional health, advancements in parenteral nutrition supplements,
and novel product launches are key drivers. Growing research and development
activities in oral iron supplements, rising IDA incidence in low- and
middle-income countries, and a growing elderly population contribute to market
growth. Additionally, the higher prevalence of IDA among females, particularly
during the COVID-19 pandemic, is expected to boost demand for IDA therapy contributes
to foster the demand for Global Iron Deficiency Anemia Therapy Market in the
forecast period” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Iron Deficiency Anemia Therapy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Therapy Type (Oral Iron Therapy, Parenteral Iron Therapy, Red Blood Cell Transfusion), By End User (Hospitals, Clinics, and Home Healthcare), By Region and Competition, 2019-2029F” has evaluated the future growth
potential of Global Iron Deficiency Anemia Therapy Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Iron Deficiency Anemia Therapy Market.
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