by Potential Association Between Anemia and Coronavirus Triggers Medication Production
Iron metabolism and anemia may play an important role in multiple organ dysfunction during the ongoing COVID-19 pandemic. Patients with iron deficiency are more susceptible to coronavirus. Hence, companies in the iron deficiency anemia treatment market have increased their output capacities to avoid supply shocks for medications in pharmacies and hospitals.
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They are increasing efforts to identify risk factors that can help to optimize hospital resources and create an awareness about public health recommendations. The potential association between anemia and coronavirus has compelled pharmaceutical companies to boost their output capacities of drugs and other medications. This is likely to drive the iron deficiency anemia treatment market.
Lack of Monitoring in Supplementation Programs of Developing Economies Affects Market Growth
The iron deficiency anemia treatment market is projected to reach US$ 22.7 Bn by 2030. Anemia is associated with the loss of billions of dollars annually in terms of productivity of working women residing in developing economies. Hence, pharmaceutical companies are conducting iron supplementation programs in order to eradicate the medical condition among women doing manual labor jobs.
However, low adherence to supplementation, hidden symptoms, and lack of program monitoring are affecting market growth. Hence, companies are increasing awareness about frequent visits to clinics, adequate dosing of supplements, and prioritizing monitoring of programs to boost market growth.
Iron-folic Acid Supplements Hold Potential to Eradicate Anemia in Indian Women
Pharmaceutical companies in the iron deficiency anemia treatment market are tapping into incremental opportunities in India, as nearly half of the women population in India is anemic. This explains why the iron deficiency anemia treatment market is predicted to register a robust CAGR of 8.7% during the assessment period. Iron-folic acid supplements are emerging as efficacious medication in the eradication of anemia in India.
Ferrous Sulfate, Divalent Iron Salts Fuel Innovations in Iron Supplements
Apart from iron supplements, manufacturers in the iron deficiency anemia treatment market are making advancements in intravenous (IV) infusion treatments for patients with chronic illnesses. New possibilities for iron supplementation with the help of antiplatelet drugs, anticoagulants, and anti-inflammatory drugs are projected to bolster market growth.
Manufacturers are developing improved formulations in drugs involving ferrous sulfate, gluconate, and iron fumarate, owing to their better bioavailability than other compounds. They are innovating in drugs containing divalent iron salts, since these drugs are relatively cheap for purchase in pharmacies and drug stores.
Analysts’ Viewpoint
Since the coronavirus pandemic has caused a significant impact on healthcare facilities, pharmaceutical companies have amped up their production targets to tide over uncertainties in demand and supply. The World Health Organization (WHO) has encouraged technological innovations such as conducting webinars to facilitate anemia prevention programs. However, there is a need for robust healthcare infrastructure in developing economies such as India, where a significant percentage of women population are anemic.
Hence, pharmaceutical companies in the iron deficiency anemia treatment market should invest in building the healthcare infrastructure of India and prioritize monitoring of anemia eradication programs. Companies should increase efforts to enable high adherence to dosages and innovate with divalent iron salts and ferrous sulfate to increase availability of efficacious drugs.
Iron Deficiency Anemia Treatment Market: Overview
This report analyzes the current scenario and future prospects of the global iron deficiency anemia treatment market. Rise in prevalence of iron deficiency anemia, increase in geriatric population, and surge in incidence of chronic kidney diseases are the key factors projected to drive the global iron deficiency anemia treatment market during the forecast period.
The report includes an elaborate executive summary, which provides a snapshot of various segments of the global iron deficiency anemia treatment market. It also provides information and data analysis of the iron deficiency anemia treatment market with regards to segments based on drug type, dosage form, distribution channel, and region.
The overview section of the report provides a detailed qualitative analysis of drivers, restraints, and opportunities that impact the global iron deficiency anemia treatment market
The report includes company profiles, which provide information about their business, product portfolios, and competitive landscape in the global iron deficiency anemia treatment market
The report on the iron deficiency anemia treatment market offers market attractiveness analysis of regions and segments
The last section of the report comprises quantitative and qualitative analyses on market share/position of key players operating in the global iron deficiency anemia treatment market. It analyzes key competitive strategies adopted by major industry players, thereby presenting a thorough understanding of the competitive scenario in the global iron deficiency anemia treatment market.
Iron Deficiency Anemia Treatment Market: Key Segments
In terms of drug type, the global iron deficiency anemia treatment market has been classified into ferrous sulfate, ferrous gluconate, ferrous fumerate, ferric hydroxide, sodium ferric gluconate, iron carbohydrates, and others
Based on dosage form, the global iron deficiency anemia treatment market has been categorized into tablets, capsules, and liquid. The tablets segment dominated the global market in 2019, owing to higher stability of tablets compared to other dosage forms, low manufacturing cost, and higher acceptability by patients.
In terms of distribution channel, the global iron deficiency anemia treatment market has been divided into hospital pharmacies, retail pharmacies, and online pharmacies. The online pharmacies segment is expected to expand at a high CAGR from 2020 to 2030. Benefits such as convenience, discounted products, large number of options, and detailed product description offered by the online pharmacies are likely to drive the segment during the forecast period.
Market size and forecast for each of these segments have been provided from 2018 to 2030. The CAGR of respective segment has also been provided from 2020 to 2030, considering 2019 as the base year.
Iron Deficiency Anemia Treatment Market: Regional Outlook
In terms of region, the global iron deficiency anemia treatment market has been segmented into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Each region considered in the market has been further divided into countries/sub-regions.
The iron deficiency anemia treatment market report provides size and forecast for each region and country/sub-region from 2018 to 2030. The CAGR for each of these regions and countries has also been provided for the forecast period from 2020 to 2030. The iron deficiency anemia treatment market study also covers the competitive scenario in these regions.
Companies Covered in Iron Deficiency Anemia Treatment Market Report
Key players in the global iron deficiency anemia treatment market have been profiled based on attributes such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies
Major companies profiled in the iron deficiency anemia treatment market report are
- AdvaCare Pharma
- Akorn
- Sun Pharmaceutical Industries Ltd.
- Akebia Therapeutics, Inc.
- Rockwell Medical, Inc.
- Vifor Pharma Management Ltd.
- Shield Therapeutics
- AMAG Pharmaceuticals
- Pharmacosmos A/S
Key Questions Answered in Global Iron Deficiency Anemia Treatment Market Report
- What is the scope of growth for companies in the global iron deficiency anemia treatment market?
- What will be the Y-o-Y growth of the global iron deficiency anemia treatment market between 2020 and 2030?
- What is the influence of changing trends in treatment for iron deficiency anemia treatment on the global iron deficiency anemia treatment market?
- Will North America continue to be the most profitable market for iron deficiency anemia treatment treatment?
- Which factors are anticipated to hamper the global iron deficiency anemia treatment market during the forecast period?
- Which are the leading companies in the global iron deficiency anemia treatment market?
Global Iron Deficiency Anemia Treatment Market – Segmentation
Drug Type
- Ferrous Sulfate
- Ferrous Gluconate
- Ferrous Fumerate
- Ferric Hydroxide
- Sodium Ferric Gluconate
- Iron Carbohydrates
- Others
Dosage Form
- Tablets
- Capsules
- Liquid
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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