The global intravenous iron drug market is projected to grow at a CAGR of around 7% during the forecast period. Iron plays a vital role in the human body; it transfers oxygen via blood throughout the body. The deficit of iron is one of the foremost causes of iron deficiency anemia (IDA) allied with more diseases and even mortality. The primary factors driving the growth of the market include iron deficiency cases across the globe. An increasing number of disorders including oncology, chronic heart failures, nephrology, gynecology, gastroenterology, and others also creates a scope for market growth. 

Moreover, a growing number of diabetic patients across the globe, an increase in the number of dialysis patients, along with the increasing aging population are some other factors that support the growth of the market. However, some of the side effects associated with the drugs including nausea, headache, back pain, muscle cramps, joint pain, which are likely to hinder the growth of the market. Stringent government regulations imposed on the endorsement and usage of these drugs is also hampering the growth of the market during the forecast period.

Segmental Outlook

The global intravenous iron drug market is segmented on the basis of products and applications. Based on the product, the market is segmented into ferric carboxymaltose, iron sucrose, iron dextran, and others such as ferric gluconate. Among these, the ferric carboxymaltose segment is estimated to contribute a significant share in the market owing to its increasing application in drug discovery. Based on the application, the market is segmented into oncology, chronic kidney diseases, inflammatory bowel diseases, and others. 

Global Intravenous Iron Drug Market by Applications, 2019 (%)

Oncology Segment to Exhibit Considerable Growth in the Market 

Amongst the applications segment of the market, the oncology segment is likely to exhibit a significant growth rate during the forecast period. The segmental growth of the market is attributed to the increased incidences of cancer across the globe. The growth of the segment is also backed by the rising awareness for the various treatment of the usage of various therapies including chemotherapy at various stages of cancer. As per the WHO, one-third of mortalities from cancer is caused due to behavioral and dietary risks including low fruit and vegetable intake, high body mass index, lack of physical activity, tobacco use, and alcohol consumption. In 2018, According to the International Agency for Research on Cancer (IARC), 18,078,957 cancer cases were recorded in which a total of 9,555,027 deaths were recorded across the globe. Iron is crucial in remodeling the extracellular matrix and increasing the motility and invasion of cancer cells. A dysfunctional or deregulated iron metabolism in cancer patients often results in a decreased red blood cell (RBC) count and anemia is detected in around 40–70% of all cancer patients, as per the National Institute of Health.

Regional Outlook

The global intravenous iron drug market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North American region is estimated to contribute significantly during the forecast period. The region is considered among the most developed market for the healthcare sector, as there are numerous companies and research institutes focused on the R&D regarding drug development and manufacturing. A rise in the number of cancer cases, growth in several lifestyle disorders, rising awareness among the people, frequent advancements in drug delivery among others are the crucial factors driving the growth of the market in the region. Whereas in the Asia-Pacific region, well-established healthcare infrastructure along with the increased government spending on healthcare drives the intravenous iron drug market during the forecast period. 

Global Intravenous Iron Drug Market by Region, 2019 (%)

Market Players Outlook

Some of the prominent players operating in the global intravenous iron drug market include Allergan PLC., American Regent, Inc., Daiichi Sankyo Co., Ltd., Pharmacosmos Group, Rockwell Medical Technologies, Inc., Sanofi SA, Keryx Biopharmaceuticals Inc., and Vifor Pharma Ltd. These are the key companies adopting several organic and inorganic growth strategies such as product launches & developments, partnerships, agreements, and acquisitions to strengthen their product portfolios and maintain a competitive position in the global intravenous iron drug market. 

In February 2020, Pharmacosmos Therapeutics Inc. announced that it has been established as a newly formed specialty pharmaceutical company dedicated to commercializing Monoferric for Iron Deficiency Anemia (IDA) patients in the US. The new company is a subsidiary of the Pharmacosmos Group, a profitable, fast-growing specialty pharmaceutical company headquartered in Denmark.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global intravenous iron drug market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.