Iron Deficiency Anemia Treatment Market

Rise in Prevalence of Iron Deficiency Anemia is driving the market growth

Market CAGR for Iron Deficiency Anemia Treatment is being driven by the rising Prevalence of Iron Deficiency Anemia. An absence of iron When there is not enough iron in the body, anemia, one of the most prevalent types of anemia, develops. Low levels of healthy red blood cells are a medical disease known as anemia. RBCs are the blood's oxygen-carrying cells. The creation of hemoglobin, a component of red blood cells, depends heavily on iron. Oxygen levels in the body are lower when hemoglobin is deficient. Maintaining iron levels is so crucial.

Iron is necessary for the body's transportation of oxygen. Meat, vegetables, fruits, and grains are foods high in iron that can help prevent it.

Additionally, Patients with cancer are more frequently developing iron deficient anemia. A number of common malignancies are frequently connected to anemia, including bone cancer, cervical cancer, blood cancer, colon cancer, and prostate cancer. The highest anemic prevalence has been seen in breast and lung tumors among solid tumors. A hematologic cancer, such as lymphoma, leukemia, or multiple myeloma, can produce abnormal blood cells, which can result in anemia. The immune system is compromised by certain disorders. Cancer treatments like chemotherapy and radiation worsen anemia in patients with the disease. There are hence more prospects in the market.

Iron deficiency anemia is becoming more prevalent, especially in women and children, as a result of low dietary iron intake and excessive red blood cell loss. This can lead to developmental abnormalities in growing children and fetuses in pregnant women, respectively. Only a small number of minor side effects can result from taking iron-containing drugs. Problems with appetite and digestive disorders like nausea, vomiting, stomach aches, and constipation is frequent adverse effects. Additionally, these drugs may result in overdose symptoms such weakness, exhaustion, shallow or quick breathing, bluish skin, convulsions, pale skin, or pale fingernails.

The expansion of the market is hampered as a result.

For instance, According to the WHO, iron deficiency is responsible for 50% of all anemias, which affects 1,500 million to 1,740 million individuals worldwide. A study undertaken for the national health care data in Germany, Belgium, Spain, and Italy also found that the yearly between 7.2 and 13.9 cases of iron deficiency anemia per 1,000 person-years were reported. Thus, result in driving the Iron Deficiency Anemia Treatment market revenue.

The aging population globally is a significant driver of the Global Iron Deficiency Anemia Treatment Market Industry. As individuals age, they often experience nutritional deficiencies, including iron deficiency, due to factors such as decreased dietary intake and chronic health conditions. By 2035, the geriatric population is projected to reach 1.5 billion, which may lead to an increased incidence of anemia among older adults. This demographic shift necessitates tailored treatment solutions, thereby expanding the market. Healthcare systems are likely to focus on addressing the unique needs of this population, further stimulating demand for effective iron deficiency anemia treatments.

Innovations in treatment modalities are significantly influencing the Global Iron Deficiency Anemia Treatment Market Industry. Recent developments include the introduction of new oral iron supplements and intravenous iron therapies that enhance absorption and reduce side effects. For example, ferric carboxymaltose has gained traction due to its efficacy in treating iron deficiency anemia in patients with chronic kidney disease. These advancements not only improve patient outcomes but also expand the range of treatment options available, catering to diverse patient needs. As healthcare professionals adopt these novel therapies, the market is poised for substantial growth.

Economic growth in various regions is positively impacting the Global Iron Deficiency Anemia Treatment Market Industry. Increased disposable income and healthcare expenditure enable better access to medical care and treatment options. Countries with developing economies are investing in healthcare infrastructure, leading to improved availability of iron supplements and therapies. For instance, the market is projected to reach 4.83 USD Billion in 2024 and is expected to grow to 28.5 USD Billion by 2035, with a CAGR of 17.5% from 2025 to 2035. This economic investment is likely to enhance the overall treatment landscape for iron deficiency anemia.

The Global Iron Deficiency Anemia Treatment Market Industry benefits from heightened awareness and screening initiatives aimed at identifying and managing iron deficiency anemia. Governments and health organizations are implementing programs to educate the public about the importance of iron in nutrition and the risks associated with anemia. For instance, campaigns targeting pregnant women and children are particularly effective, as these groups are at higher risk. Enhanced screening practices in healthcare settings facilitate early diagnosis and timely intervention, leading to increased demand for treatment options. This proactive approach is likely to contribute to market growth in the coming years.

The Global Iron Deficiency Anemia Treatment Market Industry is experiencing growth due to the increasing prevalence of iron deficiency anemia worldwide. Factors such as poor dietary habits, malnutrition, and chronic diseases contribute to this condition. For instance, the World Health Organization estimates that approximately 1.62 billion people globally are affected by anemia, with iron deficiency being the most common cause. This rising incidence necessitates effective treatment options, driving demand within the market. As awareness of the condition grows, healthcare providers are more likely to recommend iron supplementation and other therapeutic interventions, further propelling market expansion.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Iron Deficiency Anemia Treatment market area will dominate this market, due to elements including the rising incidence of iron deficiency anemia in the population, the availability of a strong health care system, and the presence of significant market participants in the area.

Further, the major countries studied in the market report are The US, Canada, France, the UK, Italy, Spain, German, India, Australia, South Korea, China, Japan, and Brazil.

Figure2:  IRON DEFICIENCY ANEMIA TREATMENT MARKET SHARE BY REGION 2022 (USD Billion)

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Europe Iron Deficiency Anemia Treatment market represents the second-largest market share due to the substantial need for iron supplements, and the increased awareness of the treatment for iron deficient anemia. Further, the German Iron Deficiency Anemia Treatment market held a dominant market share, and the UK Iron Deficiency Anemia Treatment market was the European region's fastest-growing market.

The Asia-Pacific Iron Deficiency Anemia Treatment Market is anticipated to see the fastest CAGR between 2025 and 2034. This is due to increased public knowledge of women's health issues and advancements in the healthcare system. Moreover, China’s Iron Deficiency Anemia Treatment market held a dominant market share, and the Indian Iron Deficiency Anemia Treatment market was the Asia-Pacific region's fastest-growing market.

Leading market players are putting a lot of money on R&D to extend the range of their goods, which will fuel the Iron Deficiency Anemia Treatment market's growth. Additionally, market participants are engaging in a range of strategic initiatives to increase their worldwide reach, with important market developments such as the introduction of new products, contracts, mergers and acquisitions, increased investments, and cooperation with other organizations. To grow and endure in an increasingly competitive and challenging market environment, Iron Deficiency Anemia Treatment industry must provide reasonably priced goods.

One of the main business strategies employed by manufacturers is to produce locally to reduce operational expenses in the  Iron Deficiency Anemia Treatment industry to develop market sector and provide benefits to customers. In recent years, the Iron Deficiency Anemia Treatment industry has provided some of the most important benefits to the healthcare sector. Major players in the Iron Deficiency Anemia Treatment market, including Abbvie Inc., Akebia Therapeutics Inc., AMAG Pharmaceuticals Inc. (Covis Group S.r.l.), Daiichi Sankyo Company, Pharmacosmos AS, Sanofi SA, Johnson and Johnson, and Fresenius SE & Co.

KGaA, and others, invest in operations for research and development in an effort to improve market demand.

AbbVie Inc. is an American pharmaceutical corporation. According to revenue, it is the sixth-largest biomedical company. Humira (adalimumab), which is taken via injection, is the company's main product ($21 billion in 2022 revenues, or 37% of all revenues). Rheumatoid arthritis, Crohn's disease, plaque psoriasis, and ulcerative colitis are among the autoimmune disorders that it is licenced to treat. The name "AbbVie" is a mix of "Abbott," the name of the company's former parent, and "vie," which is meant to be a reference to a Latin word that means "life”.

In 2022, With its main product SDI-118 and portfolio of cutting-edge modulators of the synaptic vesicle protein 2A, Syndesi Therapeutics was bought by Abbvie for up to $1 billion.

AMAG Pharmaceuticals, Inc. is an American pharmaceutical firm that creates medications to treat adult patients with iron deficiency anemia (IDA). Up until November 2020, when Covis Pharma bought the business, it was a publicly traded firm with the ticker "AMAG" on NASDAQ. The business joined the Pharmaceutical Research and Manufacturers of America (PhRMA) in 2016. The activities of AMAG Pharmaceuticals Inc. include drug research, marketing, and distribution. The United States, Canada, and the European Union are among the regions where the corporation markets its products.

In 2018, Feraheme, manufactured by AMAG Pharmaceuticals, has been given FDA (Food and Drug Administration) approved for the treatment of iron deficient anemia in patients who cannot take oral iron therapy or who do not significantly improve after receiving oral iron therapy.