by Iron deficiency anemia treatment includes oral iron supplements, parenteral iron therapy and red blood cell transfusion which helps in improving hemoglobin levels and restoring iron stores. Oral iron supplements segment dominates the market as oral route of administration is economical and non-invasive. Growing elderly population and rising incidence of chronic diseases has increased the need for iron deficiency anemia treatment.
The Global Iron Deficiency Anemia Treatment Market is estimated to be valued at US$ 12.1 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Iron Deficiency Anemia Treatment Market Demand are AdvaCare Pharma, Otsuka Pharmaceutical Co., Ltd., Sanofi, Emcure Pharmaceuticals, Wellona Pharma, SiNi Pharma Pvt Ltd, Sun Pharmaceutical Industries Ltd., Zydus Group, Akebia Therapeutics., Rockwell Medical, Inc., AbbVie Inc., Pfizer, Inc., Velnex Medicare, PHAEDRUS LIFE SCIENCE PVT. LTD., Inopha International Co, Limited, PharmaNutra S.p.A., Pharmascience Inc., American Regent, Inc.
Growing demand in developing countries due to inadequate dietary iron intake and increased prevalence of chronic kidney diseases is boosting the market growth. Rising cases of blood disorders is also augmenting the need for iron deficiency anemia treatment.
Key players like PharmaNutra is expanding its presence in North America by collaborating with Precision medicines to accelerate its growth in the iron deficiency anemia market. Other players are also acquiring smaller players to strengthen their product portfolio and global presence.
Market Key Trends
One key trend is the rising preference for novel oral iron formulations due to their improved bioavailability and fewer side effects compared to conventional formulations. Companies are investing in R&D to develop more efficient iron supplements through nanotechnology, chelation and colonic targeting technologies. This is expected to drive the market growth during the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirement enables small players to enter the market easily but established brands, regulatory barriers and requirement of extensive R&D poses threat.
Bargaining power of buyers: Large customer base with increasing awareness provides buyers leverage to negotiate on price.
Bargaining power of suppliers: Suppliers have moderate power due to availability of substitute raw materials and ingredients.
Threat of new substitutes: Threat is low as iron deficiency anemia has very few effective substitutes and treatment alternatives.
Competitive rivalry: Strong as major players compete on basis of product differentiation, marketing strategies and regional expansion.
Geographical Regions
North America dominates the global market in terms of value owing to increasing incidence of iron deficiency anemia, rising health awareness and presence of large players.
Asia Pacific is the fastest growing region on account of large patient pool, improving healthcare infrastructure, rising disposable incomes and growing medical tourism. Rising awareness regarding nutritional disorders and anemia is further fueling the market growth in the region
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
