Market Trends of Anemia Treatment Industry
This section covers the major market trends shaping the Anemia Treatment Market according to our research experts:
Iron Deficiency Anemia to Witness Healthy Growth Over the Forecast Period
Iron deficiency anemia is the most common type of anemia in which the blood does not have an adequate amount of red blood cells that carry oxygen to the body's tissues. As per the National Institute of Health, iron deficiency anemia is one of the main nutritional deficiency disorders affecting large fractions of the population, particularly such physiological groups as children, menstruating women, and pregnant women. There are a few medical conditions that cause iron-deficiency anemia, including kidney disease and long-lasting conditions that lead to inflammation like congestive heart failure or obesity.
Globally, the increasing prevalence of chronic kidney disease (CKD), inflammatory bowel disease (IBD), and cancer has increased the need for iron medication treatment of subsequent iron deficiency anemia (IDA), which is expected to drive market growth.For instance, as per the report by Kidney International Supplements in April 2022, it is anticipated that chronic kidney disease will eventually affect a greater number of people and become more significant among all of the other global causes of mortality. Hence, the rise in CKD in the population increases the risk of iron-deficiency anemia, a common complication of CKD, and likely increases the demand for anemia treatment that drives the market over the forecast period.
Furthermore, the approval and launch of novel formulations and strategic initiatives undertaken by key players to improve access to intravenous iron drugs are further expected to support market growth. For instance, in July 2021, Sandoz launched the generic version of Ferumoxytol, an intravenous medication used to treat iron deficiency anemia (IDA) in the United States. This launch carries out the plan to increase the portfolio of hospitals and clinics and give patients access to low-cost generic medications, which will boost the market over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to have a significant impact on the overall anemia treatment market, with the United States being the major contributor to the market. Anemia is one of the most common blood disorders in recent times. Some of the most common forms of anemia in North America are iron and vitamin deficiency, plastic, hemolytic, and sickle cell. According to the National Heart, Lung, and Blood Institute, the most prevalent blood condition is anemia, which affects more than 3 million Americans.
Similarly, the presence of a strong key market player with a strong pipeline aids in market growth in the region. For instance, Global Blood Therapeutics, update 2022, in the United States has a strong pipeline in the different phases of clinical trials for sickle cell disease, such as inclacumab (phase III/IV), GBT021601 (phase I/II), HbF inducers, antisickling agents, inflammation, oxidative stress reduction, etc. Furthermore, in July 2022, Health Canada accepted for review the New Drug Submission (NDS) for GSK's daprodustat, an oral hypoxia-inducible factor prolyl hydroxylase inhibitor (HIF-PHI) for the potential treatment of patients with anemia of chronic kidney disease (CKD). Thus, the new product trials, approvals, and launches provide more efficient drugs with various applications in anemia that drive the market over the forecast period.
Furthermore, as the number of children born with sickle cell anemia rises in the United States, so will the demand for anemia treatment. According to a report by the NIH published in the August 2022 issue of the NCBI, sickle cell disease (SCD) is a multisystem disorder and the most common genetic disease in the United States, affecting 1 in 500 African Americans. Also, about 1 in 12 African Americans carries the autosomal recessive mutation, and approximately 300,000 infants are born with sickle cell anemia annually. Thus, the aforementioned factors together are expected to increase the demand for anemia treatment and favor the growth of the studied market in the region.
