The global intravenous (IV) iron drugs market size is expected to reach USD 2.90 billion by 2026,expanding at a CAGR of 7.2% during the forecast period, according to a new report by Grand View Research. Growing prevalence of chronic diseases, noncompliance of oral drug treatment and recent approvals of novel products are the key factors driving the IV iron drugs market. However, some of the factors that are restraining the market include the adverse side effects, stringent regulations, availability of nutraceutical alternatives, and complex approval process.
Iron
is one of the crucial components in the hemoglobin and plays an important role
in the transportation of oxygen throughout the body. It also takes part in
several biological processes such as energy metabolism, formation of collagen,
the synthesis of heme, formation of myoglobin, immune system functions, and
neurotransmitter production. Around 30% of anemia in women and children in
developing nations is caused by deficiency of iron according to a survey
conducted by the Vitamin and Mineral Nutrition Information System in 2017. Growing
cases of chronic kidney diseases, iron deficiency anemia in gastroenterology,
gynecology and oncology and growing cohort with high rate of unresponsive oral
therapy is expected to drive the demand for these drugs. Furthermore,
increasing healthcare expenditure and high accuracy, sensitivity and easy
access of intravenous iron drugs fuels the market growth.
Among
the products, the ferric carboxymaltose segment dominated the global
intravenous iron drugs market in 2018 and is expected to grow significantly due
to its increasing application in drug discovery processes, superior
performance, and reduced cost. Ferric carboxymaltose is marketed as Injectafer
in North America and under the name of Ferinject outside North America. Asia
Pacific is projected to demonstrate the highest CAGR during the forecast
period, while North America held the largest market share in 2018.
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Intravenous Iron
Drugs Market Report Highlights
- Among the applications,
chronic kidney disease segment held the largest IV iron drugs market share
in 2018, due to increasing prevalence and geriatric population
- Ferric carboxymaltose is
expected to maintain its dominance through the forecast period due to the
increasing application in drug discovery, superior performance and reduced
cost
- Asia Pacific is projected to
exhibit the fastest growth during the forecast period, which can be
attributed to the increasing prevalence of chronic diseases in the region,
improving healthcare infrastructure, and rising per capita healthcare
expenditure
- Key players operating in the
intravenous iron drugs market include Allergan, Inc.,AMAG Pharmaceuticals.
Inc.,Daiichi Sankyo Company, Ltd., Sanofi, Fresenius Medical Care AG &
Co., Vifor Pharma Management Ltd., Pharmacosmos A/S, Shield Therapeutics
Plc, and American Regent. Inc.
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Intravenous Iron
Drugs Market Segmentation
Grand View Research has segmented
the intravenous iron drugs market report on the basis of product, application,
and region:
Intravenous Iron
Drugs Product Outlook (Revenue, USD Million, 2015 - 2026)
- Iron Dextran
- Iron Sucrose
- Ferric Carboxymaltose
- Others
Intravenous Iron
Drugs Application Outlook (Revenue, USD Million, 2015 - 2026)
- Chronic Kidney Disease
- Inflammatory Bowel Disease
- Cancer
- Other Diseases
Intravenous Iron
Drugs Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- Japan
- China
- India
- South Korea
- Singapore
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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