USD 2.95 billion
Global Intravenous Iron Drugs Market Size, Share, Growth Analysis, By Type(Iron Dextran, Iron Sucrose), By Application(Chronic kidney disease, inflammatory bowel disease) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2273 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
63 |
Figures:
75
Global Intravenous Iron Drugs Market Insights
Global Intravenous Iron Drugs Market size was valued at USD 2.95 billion in 2022 and is poised to grow from USD 3.20 billion in 2023 to USD 6.10 billion by 2031, growing at a CAGR of 8.4% in the forecast period (2024-2031).
The global intravenous iron drugs market is experiencing rapid growth and holds a prominent position within the pharmaceutical industry. This expansion can be attributed to several key factors driving the market's trajectory. One of the primary drivers is the increasing prevalence of iron deficiency anemia, a condition that affects a significant portion of the global population. Iron deficiency anemia occurs when the body lacks a sufficient amount of iron necessary for the production of hemoglobin, resulting in reduced oxygen-carrying capacity and subsequent fatigue, weakness, and impaired cognitive function. As awareness about this condition grows, the demand for intravenous iron drugs as an effective treatment option is on the rise. Moreover, the aging population worldwide has contributed to the market growth. The elderly are more susceptible to iron deficiency anemia due to factors such as reduced dietary intake, malabsorption issues, and chronic diseases. Consequently, there is an increasing need for intravenous iron therapy to address this age-related vulnerability. Intravenous iron drugs provide a direct and efficient method of replenishing iron stores, offering quicker relief and better outcomes compared to oral iron supplementation, which may be less effective or not feasible for certain patients.
Market players are heavily investing in research and development endeavors to introduce innovative iron formulations that are more effective, have improved safety profiles, and offer enhanced patient convenience. This emphasis on product development aims to meet the growing demand for advanced intravenous iron therapies while minimizing potential side effects. Strategic collaborations, partnerships, and acquisitions are prevalent in the market as companies seek to expand their product portfolios and geographical presence. This approach allows key market players to harness synergies and leverage each other's strengths in research, manufacturing, distribution, and marketing. By doing so, companies can effectively cater to a wider customer base and strengthen their competitive positions. With a positive growth trajectory, the intravenous iron drugs market is set to continue evolving and offering vital solutions to individuals suffering from iron deficiency anemia.
US Intravenous Iron Drugs Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Ferric Carboxymaltose
Fastest Growth
Ferric Carboxymaltose
Growth Rate
8.4% CAGR
Global Intravenous Iron Drugs Market ($ Bn)
Country Share for North America Region (%)
Global Intravenous Iron Drugs Market By Type ($ Bn)
Global Intravenous Iron Drugs Market By Type (%)
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Global Intravenous Iron Drugs Market Segmental Analysis
Global Intravenous Iron Drugs Market is segmented by type, application, and region. Based on type, the market can be segmented into Iron Dextran, Iron Sucrose, Ferric Carboxymaltose and Others. Based on application, the market is segmented into chronic kidney disease, inflammatory bowel disease, cancer and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Ferric Carboxymaltose has emerged as a leading choice for the treatment of iron deficiency anemia due to its superior characteristics and clinical efficacy. It offers advantages such as a higher maximum single-dose, improved patient tolerability, and reduced risk of adverse events compared to other intravenous iron formulations. Ferric Carboxymaltose is widely utilized in various medical conditions, including chronic kidney disease, inflammatory bowel disease, and gynecology. Its effectiveness, along with favorable safety and dosage profiles, has positioned Ferric Carboxymaltose as the dominant segment, capturing a significant share of the intravenous iron drugs market.
Iron Sucrose segment has witnessed remarkable growth owing to its increasing adoption and expanding applications. It is widely used in the treatment of iron deficiency anemia, particularly in patients with chronic kidney disease and those undergoing hemodialysis. Iron Sucrose offers advantages such as a well-established safety profile, convenient administration, and effectiveness in replenishing iron stores. The growing awareness among healthcare professionals and patients about the benefits of Iron Sucrose has been a key driver for its rapid market expansion. With its rising demand and expanding usage in various medical conditions, Iron Sucrose emerges as the fastest growing segment in the intravenous iron drugs market.
Analysis by Application
Chronic kidney disease stands as the dominant application segment in the intravenous iron drugs market. This dominance is primarily attributed to the high prevalence of iron deficiency anemia in patients with chronic kidney disease. The impaired kidney function in these individuals often leads to reduced erythropoietin production, resulting in anemia. Intravenous iron drugs play a crucial role in replenishing iron stores and addressing anemia in this patient population. The effective management of iron deficiency in chronic kidney disease patients has led to the widespread use of intravenous iron drugs, making chronic kidney disease the dominant application segment in the market.
The fastest growing application segment in the intravenous iron drugs market is inflammatory bowel disease (IBD). Inflammatory bowel diseases such as Crohn's disease and ulcerative colitis are associated with chronic inflammation of the digestive tract, which can lead to malabsorption of iron and subsequent iron deficiency anemia. The increasing incidence of IBD globally has led to a growing demand for intravenous iron drugs for the treatment of iron deficiency in these patients. Moreover, advancements in understanding the impact of iron deficiency on disease outcomes and the introduction of novel intravenous iron formulations tailored for IBD patients have contributed to the rapid growth of this application segment. With a focus on improving the management of iron deficiency in inflammatory bowel disease, the IBD application segment is experiencing significant growth in the intravenous iron drugs market.
Global Intravenous Iron Drugs Market By Type, 2023 (%)
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Global Intravenous Iron Drugs Market Regional Insights
North America emerged as the leading market for intravenous iron drugs, capturing the largest market share. The primary contributing factor to this dominance was the increasing approvals and launch of new intravenous (IV) drugs in the United States. Notably, in December 2021, American Regent, Inc. and Daiichi Sankyo, Inc. announced the approval of Injectafer by the U.S. Food and Drug Administration (FDA) for pediatric patients with Iron Deficiency Anemia (IDA) who are unresponsive to oral iron or have shown an inadequate response to oral iron supplementation. These developments have bolstered the market position of North America, driving its significant market share.
On the other hand, the Asia Pacific region is anticipated to exhibit substantial growth throughout the forecast period. This growth can be attributed to several factors, including the expansion of major industry players into Asia Pacific countries and the implementation of government initiatives aimed at healthcare development. Additionally, the high incidence of IDA in developing nations like China and India has played a significant role in propelling market growth in the region. The increasing focus on improving healthcare infrastructure, coupled with the rising awareness about intravenous iron therapies, has further contributed to the growth of the Asia Pacific market for intravenous iron drugs.
Global Intravenous Iron Drugs Market By Geography, 2024-2031
- Largest
- Fastest
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Global Intravenous Iron Drugs Market Dynamics
Drivers
Increasing prevalence of iron deficiency anemia
- One key driver of the intravenous iron drugs market is the increasing prevalence of iron deficiency anemia worldwide. Iron deficiency anemia is a common condition, particularly among certain populations such as pregnant women, women of reproductive age, and individuals with chronic diseases. The rising awareness about the consequences of iron deficiency and the effectiveness of intravenous iron drugs in treating this condition has fueled the demand for these therapies, driving market growth.
Restraints
Potential for adverse reactions or side effects associated with intravenous iron administration
- One notable restraint in the market is the potential for adverse reactions or side effects associated with intravenous iron administration. While intravenous iron drugs are generally considered safe, there is a risk of hypersensitivity reactions or infusion-related adverse events. These can include allergic reactions, hypotension, and anaphylaxis. The occurrence of such adverse events can deter some healthcare professionals and patients from choosing intravenous iron therapy, leading to a certain level of restraint in the market. Manufacturers and healthcare providers need to ensure proper patient selection, monitoring, and administration protocols to minimize the risk of these adverse events and maintain patient safety.
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Global Intravenous Iron Drugs Market Competitive Landscape
The competitive landscape of the intravenous iron drugs market is characterized by intense competition and a diverse range of product offerings. Key players in the market are focused on research and development activities to introduce innovative and advanced iron formulations that provide improved efficacy, safety, and patient convenience. Strategic collaborations, partnerships, and acquisitions are common strategies employed by market players to expand their product portfolios and geographical presence. With increasing awareness about iron deficiency anemia and the benefits of intravenous iron therapy, the market is witnessing intensified competition, and players are striving to gain a competitive edge through product differentiation, pricing strategies, and marketing initiatives. Overall, the competitive landscape of the intravenous iron drugs market is dynamic and driven by the continuous pursuit of innovation and market expansion.
Top Player’s Company Profiles
- AbbVie Inc. (US)
- AMAG Pharmaceuticals (Covis Pharma) (US)
- Daiichi Sankyo Company, Ltd. (Japan)
- Sanofi (France)
- Vifor Pharma Management Ltd. (CSL) (Switzerland)
- PHARMACOSMOS A/S (Denmark)
- Zydus Group (India)
- Pfizer Inc. (US)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Fresenius SE & Co. KGaA (Germany)
- American Regent, Inc. (US)
- Pharmacosmos Therapeutics Inc. (US)
- Rockwell Medical, Inc. (US)
- Shield Therapeutics plc (UK)
- Galenica Ltd. (Switzerland)
- Actavis Generics (Allergan plc) (Ireland)
- Norgine B.V. (Netherlands)
- Pharmacosmos UK Ltd. (UK)
- Sun Pharmaceutical Industries Ltd. (India)
- AMAG Austria Metall AG (Austria)
Recent Developments
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In January 2024, the Competition and Markets Authority (CMA) started an investigation into Vifor Pharma (Vifor), a worldwide pharmaceutical company, regarding its alleged anti-competitive behavior in the provision of intravenous (IV) iron deficiency treatments for patients under the National Health Service (NHS) in the UK.
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In September 2023, Akebia Therapeutics®, Inc. declared that Australia's Therapeutic Goods Administration (TGA) has approved Vafseo® (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase inhibitor. This approval is for anemia treatment related to chronic kidney disease (CKD) in adults undergoing chronic maintenance dialysis.
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In June 2023, Daiichi Sankyo, Inc. and American Regent, Inc., a Daiichi Sankyo Group company, reported that the U.S. The Food and Drug Administration (FDA) approved INJECTAFER (ferric carboxymaltose injection) for treating iron deficiency in adult patients with heart failure categorized as New York Heart Association class II/III to enhance exercise capacity.
Global Intravenous Iron Drugs Key Market Trends
- One key market trend in the intravenous iron drugs market is the increasing focus on the development and introduction of innovative iron formulations with improved safety and convenience profiles. Pharmaceutical companies are investing in research and development to create advanced intravenous iron therapies that address the limitations of traditional formulations. These innovations aim to enhance patient compliance, reduce adverse effects, and offer more convenient administration options. The introduction of novel iron formulations with extended dosing intervals, improved tolerability, and reduced risk of hypersensitivity reactions reflects the industry's commitment to improving the overall patient experience and treatment outcomes in the intravenous iron drugs market.
Global Intravenous Iron Drugs Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Intravenous Iron Drugs Market analysis, the market is experiencing significant growth, driven by the the rising prevalence of iron deficiency anemia and the need for effective treatment options. North America holds the largest market share, driven by the increasing approvals and launch of new IV drugs in the US. The Asia Pacific region is expected to experience significant growth due to geographic expansion, government initiatives, and the high incidence of iron deficiency anemia. The market is highly competitive, with key players focusing on research and development, strategic collaborations, and regulatory approvals. Despite the market's potential, the risk of adverse reactions poses a notable restraint. The market also reflects trends in the development of innovative iron formulations that offer improved safety and convenience.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.95 billion |
| Market size value in 2031 | USD 6.10 billion |
| Growth Rate | 8.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Intravenous Iron Drugs Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Intravenous Iron Drugs Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Intravenous Iron Drugs Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Intravenous Iron Drugs Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Intravenous Iron Drugs Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Intravenous Iron Drugs Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Intravenous Iron Drugs Market Report Snapshots
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