Authored By: Sarah
16 Sep 2024

Latest News: Iron Drugs Market Size to grow by USD 4.58 billion between 2024-2028

The Iron Drugs Market is segmented by Product (Oral drug and IV drug), Age Group (Adult and Pediatric), and Geography (North America, Europe, Asia, and Rest of World (ROW)). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 4.58 billion, at a CAGR of 10.87% during the forecast period. There are several companies that are contributing to the market as per this report. Growing number of CKD dialysis centers in emerging economies .

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

For insights on company offerings- Request a sample report!

Why is North America forecasted to hold the largest regional market size in 2024?

The Iron Drugs Market represents a significant business opportunity, driven by the rising prevalence of anemia and other iron deficiency disorders. Key companies 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.

To access the valuable insights - Download the Free Sample Report

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 global pharmaceuticals market encompasses businesses involved in the research and development (R&D) or manufacturing of various categories of drugs, including generic, non-generic, and veterinary drugs. According to Technavio, the healthcare industry's overall market size is determined by the consolidated revenue generated by providers of medical equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Key growth drivers for the pharmaceuticals market include the increasing global population aging, with the proportion of individuals over 60 years projected to reach approximately 25% in the US by 2050 and similar ratios in Europe by 2030.

The Iron Drugs Market is experiencing significant growth, fueled by the growing prevalence of iron deficiency globally. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio