Market Trends of Iron Deficiency Anemia Therapy Industry
This section covers the major market trends shaping the Iron Deficiency Anemia Therapy Market according to our research experts:
Oral Iron Therapy Segment is Expected to Hold Significant Market Share Over the Forecast Period
The Oral Iron Therapy segment is expected to witness significant growth in the studied market over the forecast period owing to the factors such as an increase in the patient population suffering from anemia and anemia-causing diseases.
In addition, the number of research that supports the use of oral iron therapy as an alternative to intravenous treatments in hospital settings is also expected to increase the adoption of oral iron therapy among the population, thereby boosting segment growth. For instance, according to a study published by the IRESPUB Journal of Life Sciences, in January 2022, oral iron supplementation has been considered the primary solution for treating iron deficiency anemia in children that impact their growth and development. Similarly, according to an article published by the Oman Medical Journal, in September 2020, it has been observed that oral iron administration represents the first line of treatment for mild iron deficiency anemia and iron deficiency without anemia during pregnancy. In addition, as per the same source, in pregnant women with iron deficiency anemia, the use of liposomal iron might be a promising method of oral iron therapy. This compound has a low frequency of side effects and high gastrointestinal absorption and bioavailability. This is expected to increase the demand for oral iron therapy which in turn is expected to boost the market growth.
Furthermore, the rising company activities for developing oral iron therapy products and supplements as well as increasing product launches are expected to fuel the market growth over the forecast period. For instance, in July 2021, Shield Therapeutics plc launched Accrufer for treating patients suffering from an iron deficiency with or without anemia, in the United States.
Therefore, the due to aforementioned factors the studied market is expected to increase over the forecast period.
North America Captured the Largest Market Share and is Expected to Retain its Dominance
North America is expected to dominate the iron deficiency anemia market over the forecast period owing to the factors such as the rising prevalence of iron deficiency anemia among the population, the presence of well-established healthcare infrastructure, and the presence of key market players in the region.
The increasing burden of iron deficiency anemia in pregnant women and children is the key factor driving the demand for the studied market over the forecast period. For instance, according to a study published by BMC Pregnancy and Childbirth, in April 2020, it has been observed that in Canada, 23% of pregnant women are anemic, with iron deficiency accounting for 85% of these cases. The rising number of anemia patients is expected to increase the demand for anemia therapy products because anemia during pregnancy has a significant negative impact on maternal health which can lead to significant development defects in the newborn. This is expected to drive market growth over the forecast period.
Moreover, the increasing product approvals related to iron deficiency anemia therapy as well as increasing company focus on developing effective therapy are all expected to drive the market growth in the region over the forecast period. For instance, in December 2021, Daiichi Sankyo, Inc. and American Regent, Inc., a Daiichi Sankyo Group company, announced that the United States FDA approved Injectafer for pediatric patients (who are 1 year of age or older) with iron deficiency anemia (IDA) who are intolerant to oral iron or who have had an unsatisfactory response to oral iron. Additionally, in October 2021, BioSyent Inc. launched FeraMAX Pd Powder 15, a patented oral iron supplement delivery system, using Polydextrose-Iron Complex (PDIC), in Canada. Also, in November 2020, BioSyent Pharma Inc. launched FeraMAX Pd Therapeutic 150, using Polydextrose-Iron Complex (PDIC) in Canada.
Therefore, the due to aforementioned factors the studied market is expected to increase over the forecast period.
