The global ”Iron deficiency anemia therapy market” size is predicted to experience promising growth owing to the high prevalence of anemia worldwide, shares Fortune Business Insights™ in its report, titled “Iron Deficiency Anemia Therapy Market Size, Share & Industry Analysis, By Therapy Type (Oral Iron Therapy, Parenteral Iron Therapy, Red Blood Cell Transfusion, Others), By End User (Hospitals, Clinics, Homecare Settings) and Regional Forecast, 2020-2027”. A study conducted by the World Health Organization (WHO) between 1993 and 2005 found that 1.62 billion people, or 24.8% of the global population, suffer from anemia, with the highest incidence witnessed in non-pregnant women.
The prevalence of iron deficiency anemia (IDA) is particularly high in poorer countries. For example, according to a 2017 study conducted by researcher from the Indira Gandhi Institute of Medical Sciences, Bihar, India showed that 50% of the adolescent girls surveyed for the study had IDA. Of these, 3.3% were severely anemic. The main reason for these shocking numbers is the lack of iron intake through regular food and loss of blood during menstruation and pregnancy. Iron deficiency anemia therapies can play a critical role in providing the necessary nutrients to prevent the development of anemia in girls and other vulnerable sections. Moreover, these therapies can help mitigate the adverse effects of IDA and restore the health of the affected persons.
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Driving Factor
COVID-19 May Heighten the Need for IDA Therapies
The SARS-CoV-2 infection has been proven to have particularly severe effects on people with comorbidities such as diabetes and heart disease. Iron deficiency anemia is also considered to be a comorbidity, which weakens the immune system. According to recent research by the PelitaHarapan University in Indonesia, patients with anemia are at a heightened risk of developing severe COVID-19 infection. Since patients with anemia have low hemoglobin levels, their ability to fight infections is substantially lowered. With organs not receiving sufficient amounts of oxygen, the risk of multi-organ failure in anemic patients automatically increases.
COVID-19, the research found, can worsen anemic conditions. For example, the virus can interact and attack the hemoglobin molecules, causing hemolysis. Furthermore, the virus can also lead to tissue ferritin, which mainly impacts the liver, bone marrow, spleen, and muscles, leading to a cytokine storm (immune over-response) and aggravate the infection as well as the anemia. Thus, iron deficiency anemia therapies are likely to experience heightened demand during the coronavirus pandemic as physicians will need to provide quick and effective treatment to anemic patients showing signs of the COVID-19 infection.
What Does the Report Offer?
- Granular examination of the top market trends, drivers, and restraints;
- Detailed analysis of the key market segments;
- In-depth assessment of the regional developments influencing the market dynamics; and
- Comprehensive profiling and evaluation of the major industry players and their key strategies.
To get the short-term and long-term impact of COVID-19 on this Market.
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Regional Insights
Increasing Testing of Women for Anemia to Stimulate Market Growth in North America
Geographically, North America is expected to lead the iron deficiency anemia therapy market share in the forthcoming years on account of the steadily expanding testing of women for anemia in Canada and the US. This factor is underpinned by the spreading awareness about the importance of women’s health in the region and increased spending on developing healthcare facilities suited for women. Asia Pacific is anticipated to register the highest CAGR owing to the improving knowledge about the high incidence of IDA in women and the rising focus of governments towards the betterment of health of women. In Europe, increasing adoption of advanced IDA therapies and strong healthcare infrastructure will favor the regional market growth.
Key Players to Benefit from the Favorable Regulatory Climate for IDA Treatments
Recognizing the urgency of releasing therapies to tackle the growing prevalence of iron deficiency anemia, regulatory bodies are providing the necessary support to approve novel IDA therapies developed by some of the key players in the market. These approvals are encouraging other competitors to ramp up their R&D spending and come up with innovative offerings.
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Industry Development:
January 2020: Pharmacosmos Therapeutics received clearance from the US Food and Drug Administration (FDA) for its ferric derisomaltose (Monoferric®). The treatment has been designed for adult patients suffering from IDA, who have intolerance for oral iron or patients who have non-hemodialysis dependent chronic kidney disease.
List of Key Players Covered in the Iron Deficiency Anemia Therapy Market Report:
- AcceleronPharma, Inc.
- Bayer AG
- Pieris
- Allergan (AbbVie)
- Apotex Inc.
- AMAG Pharmaceuticals
- PHARMACOSMOS A/S
- Sanofi S.A.
What are the key segments in the market?
Global Iron Deficiency Anemia Therapy Market Segmentation :
By Therapy Type
- Oral Iron Therapy
- Parenteral Iron Therapy
- Red Blood Cell Transfusion
- Others
By End User
- Hospitals
- Clinics
- Homecare Settings
By Geography
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
With tables and figures helping analyse worldwide Global iron deficiency anemia therapy Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
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