ANEMIA DRUGS MARKET REPORT OVERVIEW
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global anemia drugs market size was USD 11620 million in 2019 and market is projected to touch USD 20718.96 million by 2032 at CAGR 4.5% during the forecast period.
Iron deficiency anemia can be treated or prevented by eating iron-deficient foods such as fruits, meats, vegetables and iron-rich grains. Iron deficiency can be prevented by eating vitamin C. An insufficient number of healthy red blood cells is a sign of anemia. Red blood cells supply human tissues with oxygen. The formation of hemoglobin depends on the iron contained in red blood cells. A low hemoglobin level indicates that the body is not getting enough oxygen. Maintaining healthy iron levels is essential.
The growth of the market is due to the increase in iron deficiency anemia (IDA) due to insufficient intake of iron, the inability of the patient and the body to absorb iron and the increasing aging of the population. Additionally, increasing global awareness of the importance of early diagnosis and treatment of IDA, rising healthcare costs, growing focus on improving healthcare infrastructure, and various government initiatives and programs aimed at reducing the burden of IDA will further stimulate market growth.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
In addition to health effects, COVID-19 has affected the balance of markets and supply and demand, as well as shortages of labor, raw material and containers. The supply chain crisis has affected the healthcare industry, including the anemia treatment market globally, due to inflation and supply chain constraints. The COVID-19 pandemic has had a significant impact on healthcare systems, with significant consequences not only for patients infected with COVID-19 but also for others, leading to cancellation of treatment and management of resources and booking.
LATEST TRENDS
"Iron Deficiency Anemia Will Grow At A Healthy Rate During The Forecast Period"
Iron deficiency anemia is the most common type of anemia in which there are not enough red blood cells in the blood to carry oxygen to the body and tissues. According to the National Institutes of Health, iron deficiency anemia is one of the most important nutritional deficiency diseases that affects a large part of the population, especially physiological groups such as children, menstruating women and pregnant women. There are certain medical conditions that cause iron deficiency anemia, including kidney disease and long-term conditions that cause inflammation, such as heart failure or obesity.
ANEMIA DRUGS MARKET SEGMENTATION
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- By Type
Based on type the global market can be categorized into Oral, Injection.
The typical first-line therapy for iron deficiency anemia is oral iron therapy. Poor absorption, gastrointestinal disturbances and lack of treatment - estimated from 10% at day 14 to 32% at two months - all reduce the effectiveness of oral iron. In some cases, however, parenteral iron therapy is necessary to treat functional iron deficiency, to treat patients who are resistant or intolerant to oral iron therapy, or who are receiving recombinant erythropoietin therapy. Iron dextran, iron gluconate, and iron sucrose are three parenteral iron preparations currently available.
Injectable iron therapy is a way to deliver iron through a small catheter into a vein. Intravenous (IV) iron supplementation is another name for this. A healthcare provider performs this procedure in a doctor's office or clinic.
- By Application
Based on application the global market can be categorized into Iron Deficiency Anemia, Chronic Kidney Disease related Anemia, Sickle Cell Anemia, Aplastic Anemia.
Iron deficiency anemia is a common type of anemia, a condition in which there are not enough healthy red blood cells in the blood. Red blood cells carry oxygen to the body and tissues.
Anemia in CKD is When your kidneys are damaged, they produce less erythropoietin (EPO), a hormone that signals your bone marrow -- the spongy tissue in most of your bones -- to produce red blood cells.
Sickle cell anemia is one of a group of inherited diseases called sickle cell anemia. It affects the shape of the red blood cells, which carry oxygen to all parts of the body. Red blood cells are usually round and flexible, so they move easily through blood vessels.
Aplastic anemia is a rare but serious blood disorder that occurs when your bone marrow cannot produce enough new blood cells for your body to function normally. It can develop quickly or slowly and can be mild or severe.
DRIVING FACTORS
"Increasing Prevalence Of Iron Deficiency Anemia (IDA) Is Supporting The Growth Of The Market"
Iron deficiency anemia (IDA) is more common than average in developing countries. For example, a 2017 study by researchers at the Indira Gandhi Institute of Medical Sciences in Bihar, India found that IDA affected 50 percent of teenage girls in the study. 3.3 percent of them had severe anemia. These staggering numbers are mainly due to inadequate iron intake from conventional foods and blood loss during menstruation and pregnancy. Iron deficiency anemia treatment may be necessary to provide girls and other vulnerable groups with the nutrients they need to prevent anemia. In addition, these treatments can help reduce the negative consequences of IDA and improve the health of sufferers.
"Growing Oral Iron Therapy Segment And Research And Clinical Activities Are Driving The Growth Of The Market"
Oral iron therapy is expected to grow in popularity, fueling this segment and its expansion, as more and more studies appear on its use as an intravenous treatment in hospitals. For example, according to the latest study published in January 2022 in the IRESPUB Journal of Life Sciences, entitled "Oral Iron Supplements", oral iron supplementation was identified as the main treatment for iron deficiency anemia, which affects growth and development in children for the treatment of iron deficiency anemia: a comparative study. However, it accelerates the market and expansion. During the forecast period, the oral iron therapy market under study will witness significant growth due to factors such as increasing number of anemic patients and diseases causing anemia. Growing research supporting the use of oral iron therapy as an alternative to IV therapy in the hospital setting is also increasing the general acceptance of the therapy, fueling the anemia drugs market growth.
RESTRAINING FACTORS
"High Cost Of Treatment and Lack of Skilled Workers Impede Market Growth"
Treatment’s high costs slow down the market and growth rate. The lack of skilled workers and the lack of health infrastructure in developing countries present challenges for the iron deficiency anemia therapy industry. The total cost includes the cost of medical tests needed to confirm anemia, as well as the cost of drugs and, if necessary, surgery. But sometimes a more invasive procedure is needed to increase iron levels and red blood cell counts. Moreover, it is expected that during the forecast period, the shortage of people will act as a hindrance and slow down the market and revenue.
ANEMIA DRUGS MARKET REGIONAL INSIGHTS
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"North America Dominating the Market due to Presence of Factors Such As High Awareness Of Women And Their Health"
The market is primarily segmented into Europe, Latin America, Asia Pacific, North America and Middle East and Africa.
North America is expected to hold the largest anemia drugs market share globally. Product endorsements, women's and others awareness, technological advances and a large number of tests are the main influencers in this field. One of the most common blood disorders today is anemia. Some of the most common anemias in North America are plastic anemia, hemolytic anemia, sickle cell anemia, and iron and vitamin deficiencies. According to the National Heart, Lung, and Blood Institute, anemia is the most common blood disorder, affecting more than 3 million Americans. The dominance of this region can be attributed to factors such as high awareness of women and their health, high testing rates among women, and technological advances in the treatment of iron deficiency anemia.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The increase in research and development investment and funding opens up new opportunities for the market and growth rate. Additionally, growing strategic partnership with various public and private organizations and advancement in medical technology will offer favorable opportunities to the anemia drug market during the forecast period. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
List of Market Players Profiled
- GlaxoSmithKline (U.K.)
- Global Blood Therapeutics (GBT) (U.S.)
- Bluebird Bio (U.S.)
- GlycoMimetics (U.S.)
- Mast Therapeutics (U.S.)
- Fibrogen (U.S.)
- Akebia Therapeutics (U.S.)
- Bayer AG (Germany)
- Eli Lilly (U.S.)
- Mast Therapeutics (U.S.)
- Celgene Corporation (U.S.)
INDUSTRIAL DEVELOPMENT
September 2022: Pharmacosmos A/S of Denmark has sold the rights to market iron deficiency anemia drug MonoFerric (iron-isomaltose) as an injection in India and Nepal to Zydus Lifesciences. According to the company and official release, MonoFerric is indicated for the treatment of iron deficiency in adult patients when oral iron preparations are ineffective or cannot be administered, or when there is a clinical need for rapid delivery of iron.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 11620 Million in 2019 |
Market Size Value By |
US$ 20718.96 Million by 2032 |
Growth Rate |
CAGR of 4.5% from 2019 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the anemia drugs market expected to touch by 2032?
The global anemia drugs market is expected to reach USD 20718.96 million by 2032.
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What CAGR is the anemia drugs market expected to exhibit by 2032?
The anemia drugs market is expected to exhibit a CAGR of 4.5% by 2032.
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Which are the driving factors of the anemia drugs market?
Increasing prevalence of iron deficiency anemia (IDA) and growing oral iron therapy segment and research and clinical activities are driving the growth of the market are some of the driving factors of the anemia drugs market.
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What are the key anemia drugs market segments?
The anemia drugs market segmentation that you should be aware of, which include, Based on type the anemia drugs market is classified as Oral, Injection. Based on application the anemia drugs market is classified as Iron Deficiency Anemia, Chronic Kidney Disease related Anemia, Sickle Cell Anemia, Aplastic Anemia.