Iron Deficiency Anemia Therapy Market To Reach $8.06 Billion By 2030

Iron Deficiency Anemia Therapy Market Growth & Trends

The global iron deficiency anemia therapy market size is expected to reach USD 8.06 billion by 2030, as per a new study by Grand View Research, Inc. The market is projected to grow at a CAGR of 7.6% from 2023 to 2030. Rising cases of abnormally heavy bleeding during menstruation and post-partum hemorrhage are some major factors increasing the adoption rate of IDA therapy in young women. Moreover, rising awareness for women's nutritional health, advancing parenteral nutrition supplements, and novel product launches are some key drivers fueling the market growth for iron deficiency anemia (IDA) therapy.

According to a National Library of Medicine report updated in March 2023, the annual prevalence of menorrhagia is 53 per 1,000 women. Another article published by the National Library of Medicine in June 2018 states that menstrual disorders such as menorrhagia (heavy menstrual blood loss) contribute to approximately 5–10% of cases of IDA in the perimenopausal age group. Moreover, in developing countries where nutritional iron deficiency is already prevalent among perimenopausal women, menorrhagia is an exacerbating factor, leading to severe anemia.

Rising awareness among people and strategic initiatives by regional governments for women's nutritional health, advancing parenteral nutrition supplements, and novel product launches are some of the key driving factors for the global IDA therapy market growth. For instance, in February 2023, in India, the Kerala state government launched its initiative in addition to the Centre's Anaemia Mukt Bharat program. The campaign aimed to reach around 13 million women across the state within six months. A door-to-door campaign was conducted to test and implement graded interventions to reduce the burden of anemia.

Industry leaders are involved in collaborations & acquisitions to enhance their product portfolios. For instance, in November 2022, CSL Vifor and Fresenius Kabi announced that Ferinject, an intravenous iron therapy, had received approval from China's NMPA for treating iron deficiency in adult patients. Ferinject is indicated for cases where oral preparations are ineffective or unsuitable or when rapid iron delivery is clinically necessary. At the time, the companies planned to commence marketing Ferinject in the first half of 2023, with the approval marking its marketing authorization in 85 countries, along with an anticipated NRDL listing in January 2024. This represents an opportunity for enhanced market presence and expanded patient access to Ferinject globally. Similarly, in July 2021, Sandoz launched a cost-effective Ferumoxytol injection, the first generic intravenous high-dosage iron for treating IDA in the U.S.

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Iron Deficiency Anemia Therapy Market Report Highlights

• The growth of the overall IDA therapy market is attributed to the increasing prevalence of anemia associated with iron deficiency across the globe

• The market is witnessing a key shift with the rise in preference for home healthcare settings, which is especially appealing to those with chronic or less severe cases of iron deficiency anemia

• Parenteral iron therapy held the largest share in terms of therapy type in 2022. This is owing to the advancements in parenteral iron formulations and new product launches by key companies operating in the market

• The adult age group segment held the largest revenue share of 63.87% in 2022. This is attributed to busy lifestyles and improper diets contributing to the extensive prevalence of iron deficiency anemia in adults

• North America dominated the market in 2022, owing to the presence of several key players and rising support from governments for overcoming the burden of IDA in the region

• Key players in the market are adopting strategies such as new product launches, partnerships, and collaborations, among others to expand their global geographical reach

Iron Deficiency Anemia Therapy Market Segmentation

Grand View Research has segmented the global iron deficiency anemia therapy market on the basis of therapy type, age group, end-user, and region:

Iron Deficiency Anemia Therapy Type Outlook (Revenue, USD Million, 2018 - 2030)

• Oral Iron Therapy

• Parenteral Iron Therapy

• Red Blood Cell Transfusion

• Others

Iron Deficiency Anemia Therapy Age Group Outlook (Revenue, USD Million, 2018 - 2030)

• Adults

• Pediatric

• Geriatric

Iron Deficiency Anemia Therapy End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Clinics

• Hospitals

• Home Healthcare

Iron Deficiency Anemia Therapy Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  •  UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Iron Deficiency Anemia Therapy Market

• Akebia Therapeutics, Inc.

• Bayer AG

• Sanofi

• Johnson & Johnson Services, Inc.

• CSL Vifor

• AbbVie Inc. (Allergan)

• Teoxane

• Zydus Group

• GSK plc

• Novartis AG

• AdvaCare Pharma

• Apotex Inc.

• Covis Pharma GmbH

• PHARMACOSMOS A/S