The iron deficiency anemia treatment market involves a variety of products such as oral iron supplements, intravenous iron, parenteral iron, and iron complexes to treat low levels of iron in the body caused due to conditions like malabsorption, pregnancy, blood loss etc. Iron supplements constitute the largest segment as they are cost-effective and easily available for self-medication. Intravenous iron preparations like ferric carboxymaltose and iron dextran are being increasingly used for noncompliance issues related to oral iron. The Global Iron Deficiency Anemia Treatment Market is estimated to be valued at US$ 12.1 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Iron Deficiency Anemia Treatment Market Size are AdvaCare Pharma, Otsuka Pharmaceutical Co., Ltd., Sanofi, Emcure Pharmaceuticals, Wellona Pharma, SiNi Pharma Pvt Ltd, Sun Pharmaceutical Industries Ltd., Zydus Group, Akebia Therapeutics., Rockwell Medical, Inc., AbbVie Inc., Pfizer, Inc., Velnex Medicare, PHAEDRUS LIFE SCIENCE PVT. LTD., Inopha International Co, Limited, Pharmascience Inc., American Regent, Inc. These players are focusing on expanding their product portfolios as well as global presence through collaborations and partnerships.

The growing demand for iron deficiency anemia treatment is driven by increasing cases of iron deficiency as a result of changing lifestyles and diets in developing nations. Additionally, rising awareness regarding anemia and its adequate management through screening and iron supplements among physicians and patients is propelling the market growth.

The global iron deficiency anemia treatment market is witnessing strong growth owing to expansion of key players into emerging markets of Asia and Middle East & Africa. These regions have a huge untapped population suffering from iron deficiency anemia thus offering immense potential sales opportunities. Partnerships with local pharma companies help international brands establish distribution channels across rural communities in developing countries.

Market Drivers

The increasing prevalence of iron deficiency anemia is a major driver for this market. As per the Centers for Disease Control (CDC), iron deficiency affects approximately 1.6 billion people globally. Developing nations in Asia and Africa experience a high prevalence of over 40-50% in women and children. Other major factors driving the market include rising healthcare spending in emerging nations andgrowing awareness about diagnosis and management of anemia.

The current geopolitical situation is having an impact on the growth of the iron deficiency anemia treatment market. Due to supply chain disruptions caused by the ongoing Russia-Ukraine conflict and economic sanctions imposed on Russia by Western nations, the availability of key active pharmaceutical ingredients (APIs) for iron deficiency anemia treatment drugs has been affected. Many Russian and Ukrainian pharmaceutical companies were major suppliers of ferrous sulfate and ferrous gluconate, which are widely used as iron supplements. Restrictions on trade and shipment delays have led to shortages and price spikes of these APIs in global markets.

Pharmaceutical firms will need to diversify their API sourcing networks and establish alternative suppliers in different regions to mitigate geopolitical risks going forward. They may have to rely more on producers in Asia, Latin America, and Africa to ensure uninterrupted supply of iron deficiency drugs. Potential regulatory relaxation may also be needed to facilitate imports from new sourcing countries. Coordinated policy support from governments will help stabilize API costs and availability during volatile geopolitical periods. Drug makers will have to balance pharmaceutical quality with supply security in their procurement strategies.
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