What Has Been the Progress and Growth of the Iron Deficiency Injectable Market in Recent Years?
The iron deficiency injectable market has seen considerable growth due to a variety of factors.
• The market size for injectable iron deficiency treatments has seen a robust growth in the previous years. Predictions suggest that it will expand from $14.06 billion in 2024 to $15.37 billion in 2025, displaying a compound annual growth rate (CAGR) of 9.3%.
This substantial growth during the historic period can be credited to the high incidence of iron deficiency anemia treatments, patients undergoing bariatric surgery, pediatric and adolescent patients and increased instances of pregnancy.
How Does the Forecast Look for the Iron Deficiency Injectable Market?
The iron deficiency injectable market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of injectable treatment for iron deficiency is predicted to experience swift expansion. It is projected to reach a market value of $23.13 billion in 2029, expanding at a compound annual growth rate (CAGR) of 10.8%.
Factors contributing to the projected growth include an increase in the elderly population, global health movements, government strategies, growing treatments for persistent health conditions, and speedy replenishment of iron. The forecast period is also expected to witness several trends such as improvements in iron formulations, progress in digital health solutions, advancements in therapy involving iron deficiency injectables, and a growing preference for iron-based medications.
What Are The Leading Drivers Of Growth In The Iron Deficiency Injectable Market?
The iron deficiency injectables market is projected to expand, fuelled by the growing incidence of polycystic ovary syndrome (PCOS). PCOS is a widespread hormonal condition primarily affecting ovary-having individuals in their reproductive age. It typically causes an iron overload leading to substantial menstrual blood loss, eventually resulting in anaemia. This condition can be treated with iron deficiency injectable medications. For example, in June 2023, the World Health Organization, a US-based health-specific agency, stated that PCOS affects approximately 8-13% of women of reproductive age worldwide, with 70% remaining undetected. The rising incidence of PCOS is thus bolstering the growth of the iron deficiency injectables market. Elevating the growth of the iron deficiency injectable market is the towering prevalence of malnutrition. Malnutrition constitutes a health disorder marked by a disparity between the consumption of vital nutrients and the body's nutritional requisites. Iron deficiency injectables are dispensed to malnourished patients to instantly replenish the body's iron reserves and provide a high concentration of iron, which is promptly assimilated into the bloodstream for rapid rectification of the deficiency. For instance, in March 2023, the California Department of Public Health, a US-based governmental state agency, reported that the number of malnutrition-related deaths had escalated to 1,406 in 2022. This figure represented a 22.36% increase compared to the 1,149 deaths in 2021. Hence, the burgeoning incidence of malnutrition is projected to catalyze the growth of the iron deficiency injectable market in the future.
How Are The Segments Defined Within The Global Iron Deficiency Injectable Market?
The iron deficiency injectable market covered in this report is segmented –
1) By Type: Iron Dextran, Iron Sucrose, Ferric Carboxymaltose
2) By Branded or Generics: Branded, Generics
3) By Application: Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, Other Applications
4) By End User: Hospitals, Homecare, Specialty Clinics, Other End Users
Subsegments:
1) By Iron Dextran: Low Molecular Weight Iron Dextran, High Molecular Weight Iron Dextran
2) By Iron Sucrose: Venofer
3) By Ferric Carboxymaltose: Injectafer, Ferinject
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What New Trends Are Influencing The Iron Deficiency Injectable Market?
In the iron deficiency injectables market, leading companies are innovating with new therapies like INJECTAFER to maintain their dominance. In June 2023, a reputable American healthcare company, Daiichi Sankyo Company, and a prominent injectables manufacturer based in the US, American Regent Inc., introduced INJECTAFER (ferric carboxymaltose injection) for iron deficiency, which earned the approval of the Food And Drug Administration, a US government agency. This marks the first and sole intravenous iron substitution therapy to receive FDA endorsement for adult patients suffering from chronic and progressive heart failure. Over 40 clinical trials including more than 8,800 participants from various countries have been carried out with INJECTAFER. The recent approval enhances INJECTAFER's established success in treating these patients, namely adult and pediatric patients with iron-deficient anemia and heart failure.
Who Are the Key Players In The Iron Deficiency Injectable Market?
Major companies operating in the iron deficiency injectable market are:
• Daiichi Sankyo Company Limited
• Pfizer Inc.
• Aetna Inc.
• AbbVie Inc.
• Bayer AG
• Novartis AG
• Sanofi S.A
• AstraZeneca PLC
• GSK PLC
• Fresenius Medical Care
• Teva Pharmaceutical Industries Ltd.
• Mylan N.V.
• B Braun Medical Inc.
• Sandoz
• Fresenius Kabi AG
• Cipla Limited
• Emcure Pharmaceuticals Ltd.
• AMAG Pharmaceuticals Inc.
• Luitpold Pharmaceuticals Inc.
• Akebia Therapeutics Inc.
• Covis Pharma GmbH
• Keryx Biopharmaceuticals Inc.
• Rockwell Medical Inc.
• American Regent Inc.
• Galen Medical Group.
What Is The Most Dominant Region In The Iron Deficiency Injectable Market?
North America was the largest region in the iron deficiency injectable market in 2024. The regions covered in iron deficiency injectable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
