According to the latest report by IMARC Group, titled "Iron Deficiency Injectables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global iron deficiency injectables market grew at a CAGR of around 8% during 2014-2019. Iron deficiency injectables are a class of intravenous drugs that are administered in the bloodstream of individuals for treating iron deficiency. These drugs are directly infused in the circulatory system as this aids in building red blood cells (RBCs) in the body more quickly when compared with oral medications. They are commonly prescribed to patients with extremely low levels of iron or in cases that require fast improvement in the hemoglobin levels due to their rapid action. Since these injectables ensure faster absorption of the infused supplements, they are widely being prescribed by healthcare professionals in cases with severe deficiency. These drugs also assist in minimizing the non-compliance, poor adherence and adverse gastrointestinal effects that are often associated with oral drugs.
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Global Iron Deficiency Injectables Market Trends:
The market is primarily driven by the increasing prevalence of iron deficiency anemia among the masses, especially women. Since anemia is often associated with the increased risks of premature birth and maternal deaths among pregnant women, iron deficiency injectables are widely used to treat the same before the occurrence of medical complications. This has also led numerous government and non-government organizations (NGOs) to raise awareness regarding the adverse effects of anemia among women. These campaigns aim to promote women’s health and reduce the prevalence of anemia by educating the masses about the available treatment options. Such initiatives, in turn, are creating a positive outlook for the market. Apart from this, the rising incidences of several chronic conditions, such as kidney disorders and cancer, across the globe, along with a considerable increase in the geriatric population, is facilitating the uptake of these injectables. The market is further driven by several technological advancements in intravenous iron drugs that have significantly improved the functional capacity of the injectables and enhanced the restoration of iron in people suffering from iron deficiency anemia. Some of the other factors contributing to the market growth include improving diagnosis rates, the launch of dextran-free intravenous formulations and increasing investment in the healthcare sector. On account of the aforementioned factors, the market is expected to witness strong growth during 2020-2025.
- On the basis of the product type, the market has been divided into iron dextran, iron sucrose, ferric carboxymaltose and others.
- Based on the indication, the market has been classified into chronic kidney disease, inflammatory bowel disease, cancer and others.
- The market has been bifurcated into branded and generics.
- On the basis of the distribution channel, the market has been categorized into hospital, retail and online pharmacies.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa (Turkey, Saudi Arabia and others).
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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