Intravenous Iron Drugs Industry Overview
The global intravenous iron drugs market size was valued at USD 2.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2028.
The growing prevalence of Chronic Kidney Disease (CKD), Inflammatory Bowel Disease (IBD), and cancer around the globe has led to an increase in the need for intravenous iron drugs for the treatment of subsequent Iron Deficiency Anemia (IDA), which is expected to propel market growth. Furthermore, approval and launch of novel formulations and strategic initiatives undertaken by key players to improve access to intravenous iron drugs are further expected to support market growth.
The COVID-19 outbreak has disrupted 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 increased 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. According to 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 as compared to non-COVID patients. Health authorities recommended that COVID-19 patients who had an AKI should be tested regularly as their risk of developing CKD is higher than others.
Gather more insights about the market drivers, restrains and growth of the Global Intravenous Iron Drugs Market
Anemia is one of the most common blood disorders in recent times. According to the National Heart, Lung, and Blood Institute, an estimated 3 million individuals suffer from anemia in the U.S. Increasing prevalence of target diseases, such as rheumatoid arthritis, autoimmune diseases, kidney conditions, cancer, liver disorders, thyroid diseases, and inflammatory bowel diseases, is a major factor facilitating the growth of the market for intravenous iron drugs. Some of the most common forms of anemia are iron and vitamin deficiency, a plastic, hemolytic, and sickle cell. Some of the common causes of anemia are iron, vitamin A and B12, and folate deficiencies. Infectious diseases such as tuberculosis, parasitic infections, malaria, and HIV are major causes of anemia across the globe. Data from WHO indicates that approximately 42% of children below the age of 5 and 40% of pregnant women are suffering from some form of anemia.
According to the National Kidney Foundation, Inc., the two major causes of CKD are diabetes and hypertension. Data from the same source also indicates an estimated 10% of the global population is affected by chronic kidney disease, with over 2 million individuals receiving dialysis on a regular basis. The majority of these individuals are typically seen across countries such as Italy, the U.S., Germany, Japan, and Brazil. A vast majority of individuals suffering from the disease are not aware until serious symptoms manifest. It is estimated that the incidence of chronic kidney cases will rise across developing economies, such as India and China, which implies an increase in the geriatric population over the coming years. With the growing prevalence of these diseases, the need for intravenous iron drugs has risen significantly.
One of the major drawbacks of oral iron drugs is their risk of severe adverse effects. Common adverse effects of oral iron drugs include digestive problems such as stomach aches, constipation, loss of appetite, nausea, and vomiting. The overdose of oral iron drugs may also induce convulsions, shallow or rapid breathing, tiredness or weakness, fatigue, pale skin, and bluish skin or fingernails. The use of intravenous iron drugs, on the other hand, has shown to bring about increased iron uptake by the body, facilitating Erythropoiesis-stimulating Agents (ESAs) to function in an enhanced manner to lower anemic conditions. Other advantages of intravenous iron drugs include the preservation of heart health and the ability to be used by dialysis patients, especially those undergoing hemodialysis. These adverse effects are, hence, anticipated to facilitate the switch to intravenous iron drugs, increasing the uptake of the same during the forecast period.
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Intravenous Iron Drugs Market Segmentation
Grand View Research has segmented the global intravenous iron drugs market on the basis of product, application, and region:
Intravenous Iron Drugs Product Outlook (Revenue, USD Million, 2016 - 2028)
• Iron Dextran
• Iron Sucrose
• Ferric Carboxymaltose
• Others
Intravenous Iron Drugs Application Outlook (Revenue, USD Million, 2016 - 2028)
• Chronic Kidney Disease
• Inflammatory Bowel Disease
• Cancer
• Others
Intravenous Iron Drugs Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• Europe
• Asia Pacific
• Latin America
• MEA
Key Companies profiled:
Some prominent players in the Global Intravenous Iron Drugs Market include
• Vifor Pharma Management Ltd.
• AMAG Pharmaceuticals
• Daiichi Sankyo Company, Ltd. (American Regent. Inc.)
• Sanofi S.A.
• Pharmacosmos A/S
• Shield Therapeutics Plc
• AbbVie Inc. (Allergan Plc)
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