Authored By: Sarah
11 Jul 2024

 Iron Drugs Market Size to grow by USD 4582.1 million between 2024-2028

According to a research report “ Iron Drugs Market” by Product (Oral drug, IV drug) Age Group (Adult, Pediatric) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 4582.1 million, at a CAGR of  10.87% during the forecast period. Iron deficiency anemia (IDA) is a global health concern, impacting individuals of all demographics. Teenage girls are particularly vulnerable due to increased iron demands from menstruation and other contributing factors such as inadequate dietary intake, infections, and parasitic infestations. Iron is an essential micronutrient crucial for numerous bodily functions, including cellular growth, oxygen transportation, enzymatic reactions, immune system activity, and cognitive development. IDA can hinder an individual's mental and physical growth, resulting in decreased learning capabilities and reduced work productivity.

Browse market data tables, figures, and in-depth TOC on “Iron Drugs Market” by Product (Oral drug, IV drug) Age Group (Adult, Pediatric) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Product, the Oral drug segment is projected to dominate the market size in 2024

The adult demographic accounted for the largest market share in the global iron drugs market in 2022, given the high prevalence of iron deficiency anemia among this population. Factors contributing to this condition in adults include inadequate dietary iron intake, chronic blood loss due to menstruation or gastrointestinal disorders, and malabsorption syndromes like celiac disease. Iron supplements, available in forms such as tablets, capsules, syrups, and injections, are crucial for addressing the varying severities and causes of anemia in adults. The optimal dosage and formulation depend on individual requirements.

By Age Group, Adult  segment is expected to hold the largest market size for the year 2024

In the healthcare industry, oral iron drugs represent a crucial solution for addressing iron deficiency anemia. These pharmaceutical products are administered orally and are accessible over the counter or via prescription. They are generally well-received by patients due to their tolerability. Several types of oral iron supplements exist, including ferrous sulfate, ferrous gluconate, ferrous fumarate, and iron polysaccharide complex. These supplements enhance the body's iron levels, enabling the production of hemoglobin, a vital red blood cell protein responsible for oxygen transport. Ferrous sulfate, the most prevalent oral iron supplement, is available in tablets or capsules and is typically taken two to three times daily with food.

North America is forecasted to hold the largest market size by region in 2024

The Iron Drugs Market represents a significant business opportunity, driven by the rising prevalence of anemia and other iron deficiency disorders. Key players in this sector are investing in research and development to launch innovative iron-based therapeutics, while strategic collaborations and mergers are shaping the competitive landscape. Market growth is further fueled by increasing healthcare expenditures and government initiatives to improve public health.

The Iron Drugs Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Abbott Laboratories
  • AbbVie Inc.
  • Alinter Group Ltd.
  • Alora Pharmaceuticals LLC
  • Breckenridge Pharmaceutical Inc.
  • Covis Pharma GmbH
  • CSL Ltd.
  • Daiichi Sankyo Co. Ltd.
  • DSE Health Care Solutions Inc.
  • GlaxoSmithKline Plc
  • Hiral Labs Ltd.
  • McKesson Corp.
  • NovaFerrum
  • Pharmacosmos AS
  • The Procter and Gamble Co.
  • Reckitt Benckiser Group Plc
  • Rockwell Medical Inc.
  • Sanofi SA
  • Shield Therapeutics plc
  • Zydus Lifesciences Ltd.
.

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Research Analysis Overview

The Iron Drugs Market encompasses a range of products used to treat various conditions related to Iron Deficiency Anemia (IDA), Cancer-induced Anemia, and other chronic conditions. IDA, characterized by a decrease in hemoglobin and red blood cells, is common in poor nations, mothers, and children due to malnutrition, pneumonia, hepatitis, TB, HIV/AIDS, and malaria. Monofer, a monoferric iron compound, is a popular choice due to its low GI side effects. Ferric Carboxy Maltose, another iron drug, is used for treating IDA in patients with chronic kidney disease and liver disorders, including renal issues and autoimmune diseases like rheumatoid arthritis. Cancer patients undergoing chemotherapy and those with inflammatory bowel disease also benefit from these drugs. Transferrin saturation, a measure of the amount of transferrin, a protein that binds to iron, is crucial in monitoring the effectiveness of iron drugs. However, these drugs can cause side effects such as GI disturbances and irritable bowel syndrome. Iron drugs are essential in treating anemia caused by chronic conditions, including cancer, chronic kidney disease, and infectious diseases. The market for these drugs is expected to grow significantly due to the increasing prevalence of these conditions worldwide.

Market Research Overview

The Iron Drugs Market encompasses a range of products used to treat various medical conditions, including Gynecology, Critical care, Oncology, Gastroenterology, and Nephrology. Key products in this market include Ferumoxytol Injection, Monofer, and Ferric Carboxy maltose, which are used to treat conditions such as Postpartum anemia, Iron deficiency anemia, Cancer-induced anemia, Chronic Kidney Failure, and other anemias. Ferumoxytol Injection is used to treat anemia in patients with Chronic Kidney Disease undergoing dialysis. It is also used to treat Iron Deficiency Anemia in adult patients with Chronic Heart Failure. Monofer is used to treat Iron Deficiency Anemia in women, while Ferric Carboxy maltose is used to treat Iron Deficiency Anemia in adult patients with Chronic Kidney Disease not on dialysis. Other products in the market include Erythropoiesis-stimulating Agents, oral iron medications, and IV drugs. These drugs are used to treat various medical conditions such as Digestive issues, Hypertension, Diabetes, Thyroid diseases, Liver disorders, Renal issues, Autoimmune diseases, Rheumatoid Arthritis, and other conditions. Iron drugs are also used to treat Anemia in mothers and children in poor nations and to manage Anemia in women's health. Side effects of these drugs include GI side effects, Irritable Bowel Syndrome, and other adverse effects. In the Oncology segment, Iron drugs are used to manage Anemia in patients undergoing Radiation therapy and Chemotherapy for various types of cancer, including Prostate, Colon, Cervical, Bone, Blood, Breast, Lung, and other cancers. Telemedicine and teleconsultations are also used to manage patients with Acute Kidney Injury, Celiac Disease, Kidney Dialysis, Gastrointestinal bleeding, and other medical conditions requiring Iron drugs. Overall, the Iron Drugs Market is expected to grow significantly due to the increasing prevalence of various medical conditions requiring Iron supplementation and the development of new and innovative Iron-based drugs.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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