Iron Deficiency Anemia Market to Grow with a CAGR of 5.56% through 2028
Rising nutritional
fortification and dietary awareness are expected to drive the Global Iron
Deficiency Anemia Market growth in the forecast period, 2024-2028.
According
to TechSci Research report, “Iron Deficiency Anemia Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Iron Deficiency Anemia Market stood at USD 3.01 billion in 2022 and
is anticipated to grow with a CAGR of 5.56% in the forecast period, 2024-2028. Iron deficiency anemia (IDA) is a widespread and often
underestimated health concern, affecting millions of people globally. It occurs
when the body lacks sufficient iron to produce an adequate supply of red blood cells,
leading to symptoms such as fatigue, weakness, and pallor. The global iron
deficiency anemia market has witnessed significant growth in recent years,
driven by various market drivers that have shaped the landscape of diagnostics,
treatments, and supportive care measures. One
of the primary drivers of the global iron deficiency anemia market is the
increasing prevalence of the condition. Iron deficiency anemia is prevalent
across all age groups, from infants to the elderly, and can affect both developed
and developing countries. Factors such as poor dietary habits, gastrointestinal
disorders, and menstrual blood loss contribute to the high incidence of IDA.
The growing awareness of this condition among healthcare professionals and the
general population has led to more individuals being screened and diagnosed,
driving the demand for diagnostic tools and treatments.
The development
of sophisticated diagnostic tools has played a pivotal role in the growth of
the iron deficiency anemia market. Accurate and timely diagnosis is essential
for effective management. Traditional methods like blood tests for hemoglobin
and serum ferritin levels have been complemented by advanced techniques such as
bone marrow aspiration, iron studies, and genetic testing. These innovations
enable healthcare providers to identify the underlying causes of IDA and tailor
treatment plans accordingly. Furthermore, point-of-care testing (POCT) devices
and home-based test kits have made it easier for patients to monitor their iron
status, contributing to early intervention and improved outcomes. Public
awareness campaigns and educational initiatives have been instrumental in
boosting the global iron deficiency anemia market. Healthcare organizations,
government agencies, and non-profit organizations have been actively promoting
awareness about IDA, its risk factors, and the importance of regular
screenings. These efforts have led to more individuals seeking medical
attention for their symptoms and a greater emphasis on preventive measures. As
a result, healthcare professionals are better equipped to diagnose and manage
IDA effectively.
The aging global
population has emerged as a significant driver for the iron deficiency anemia
market. Elderly individuals are more prone to IDA due to age-related factors
such as decreased iron absorption, chronic diseases, and medication use. As the
proportion of elderly people continues to grow, there is a corresponding
increase in the demand for iron deficiency anemia management, including iron
supplementation, blood transfusions, and erythropoiesis-stimulating agents. Changing
dietary habits and lifestyle choices have contributed to an increased risk of
iron deficiency anemia. Vegetarian and vegan diets, which omit or limit
animal-based sources of iron, can lead to lower iron intake. Additionally,
factors like poor nutrient absorption in the gut, as seen in conditions like
celiac disease, further exacerbate the problem. The growing popularity of
plant-based diets has prompted the development of iron-fortified foods and
dietary supplements, which have become key components of IDA management and
prevention.
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"Global Iron Deficiency Anemia Market.”
Innovations in
treatment options have expanded the therapeutic arsenal available to healthcare
providers, driving the iron deficiency anemia market. Iron supplementation
remains a cornerstone of IDA management, with various formulations such as oral
iron supplements and intravenous iron preparations. These formulations offer
improved tolerability and convenience for patients. Furthermore,
erythropoiesis-stimulating agents (ESAs) have been developed to stimulate the
production of red blood cells in certain cases, reducing the need for blood
transfusions, which are typically reserved for severe cases.
The Global Iron
Deficiency Anemia Market is segmented into Therapy Type, Therapy Areas, End
User, regional distribution, and company
Based on Therapy
Type, the Global Iron Deficiency Anemia Market is segmented into Oral Iron Therapy, Parenteral Iron Therapy, Red Blood
Cell Transfusion, Others. Based on the Therapy Type, the Oral Iron Therapy
segment emerged as the dominant segment in the global market for Global Iron Deficiency
Anemia Market in 2022 Oral Iron Therapy is the most common therapy type for the
treatment of Iron Deficiency Anemia (IDA) in the global market. It is often the
first-line treatment option for individuals with mild to moderate cases of IDA.
Oral iron supplements are widely available, cost-effective, and convenient for
patients to use. They come in various forms, including tablets, capsules, and
liquid solutions. Patients can
typically obtain oral iron supplements with a prescription from a healthcare
provider or purchase them over the counter at pharmacies or drugstores in many
countries. This accessibility and ease of use make oral iron therapy the
preferred choice for initial treatment and prevention of IDA.
Based on Therapy
Areas, the Global Iron Deficiency Anemia Market is segmented into Obstetrics and Gynecology, Oncology, Congestive Heart
Failure (CHF), Inflammatory Bowel Disease, Renal, and Others. Based on the
Therapy Areas, the Obstetrics and Gynecology segment emerged as the dominant
player in the global market for Global Iron Deficiency Anemia Market in 2022. Iron deficiency anemia is prevalent among pregnant
women due to the increased demand for iron during pregnancy to support the
growing fetus. Pregnant women are at a higher risk of developing IDA, making
obstetrics a primary area for its diagnosis and treatment. Women with heavy
menstrual bleeding are also susceptible to IDA. Gynecologists often diagnose
and treat IDA in women with conditions such as menorrhagia (excessive menstrual
bleeding), fibroids, or polycystic ovary syndrome (PCOS), which can lead to
chronic blood loss. Obstetricians and gynecologists play a crucial role in
preventing IDA in pregnant women by recommending iron supplements and
monitoring iron levels during prenatal care.
North America
emerged as the dominant player in the global Iron Deficiency Anemia Market in 2022, holding the largest market share.
This leadership position can be attributed to several key factors including the
region benefits from advanced healthcare infrastructure and a high level of
awareness about IDA among both healthcare professionals and the general
population. This heightened awareness leads to early diagnosis and prompt
treatment, driving market growth. Secondly, continuous advancements in
diagnostic technologies, including genetic testing and biomarker
identification, are enhancing the accuracy and precision of IDA diagnosis, enabling
personalized treatment strategies.
Major companies
operating in Global Iron Deficiency Anemia Market are:
- Daiichi Sankyo Company
- Novartis AG
- Rockwell Medical Inc
- Iron4u Aps
- AbbVie Inc
- Sanofi
- Disc Medicine Inc
- Pfizer Inc
- Akebia Therapeutics
- Keros Therapeutics Inc
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“The
Global Iron Deficiency Anemia Market is poised for substantial growth in the
coming years, driven by several pivotal factors. Firstly, the rising awareness
and proactive healthcare-seeking behavior of individuals, coupled with
increased efforts in educational campaigns about IDA, are leading to earlier
diagnoses and higher demand for treatments and preventive measures.
Additionally, continuous advancements in diagnostic technologies, including
genetic testing and biomarker identification, are enhancing the accuracy and
precision of IDA diagnosis, enabling personalized treatment strategies. Also, the
expansion of healthcare infrastructure, especially in emerging economies, is
improving access to diagnostic tools, treatments, and education about IDA,
further driving market growth. Besides, nutritional fortification and dietary
awareness initiatives are promoting iron-rich diets and fortified foods,
reducing the risk of IDA and contributing to market growth..” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Iron
Deficiency Anemia Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By
Therapy Type (Oral Iron Therapy, Parenteral Iron Therapy, Red Blood Cell
Transfusion, Others), By Therapy Areas (Obstetrics and Gynecology, Oncology,
Congestive Heart Failure (CHF), Inflammatory Bowel Disease, Renal, Others), By
End User (Hospitals & Clinics, Ambulatory Care Centres, Others) By Region
and Competition”, has evaluated the future growth potential of Global
Iron Deficiency Anemia 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 Market.
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