The global iron deficiency anemia market is growing at a CAGR of 6.8% during the forecast period. One of the major factors that are augmenting the growth of the iron-deficiency anemia market is changing lifestyle patterns. Moreover, the growing pervasiveness of anemia is also estimated to be the other important factor that is contributing significantly towards the growth of the market. 

However, high cost and lack of awareness are some factors constraints that are hindering the growth of the global iron deficiency anemia market across the globe. Moreover, the increase in the technological advancements of the therapeutics in emerging regions is one of the key factors that are creating opportunities for the market. A new offering in the market is likely to drive the growth of the global iron deficiency anemia market. For instance, in January 2020, Pharmacosmos A/S had received the approval from FDA for its ferric derisomaltose (Monoferric) 100 mg/mL for the purpose of treatment of iron deficiency anemia (IDA) in adult’s patients.

Impact of COVID-19 Pandemic on Global Iron Deficiency Anemia Market

The COVID-19 pandemic had impacted various industries in an adverse manner. Additionally, the global iron deficiency anemia market is hardly hit by the COVID-19 pandemic since December 2019. The market for iron deficiency anemia was also declined due to the disruptions in the supply chain of essential medical supplies and medical devices in the year 2020. 

Segmental Outlook 

The market is segmented based on therapy type and end-user. By therapy type, the market is segmented into intravenous iron therapy, oral iron therapy, red blood cell transfusion, and others. Further, based on the end-user segment, the market is segmented into hospitals & clinics, and home healthcare. 

Global Iron Deficiency Anemia Market Share Therapy Type, 2021 (%)

Red Blood Cell Transfusion Expected to Hold Prominent Market Share in the Global Iron Deficiency Anemia Market

Based on the therapy type, the red blood cell transfusion segment holds a significant share in the iron-deficiency anemia market. Red Blood Cell Transfusions are generally given to a patient suffering from an iron deficiency in which the body does not have enough red blood cells, may require a red blood cell transfusion. This type of transfusion supports increasing a patient's hemoglobin and iron levels. Additionally, it grows the capacity of the blood, improves tissue oxygenation, and improves the amount of oxygen in the body.

Regional Outlooks

The global iron deficiency anemia market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in the global iron deficiency anemia market. Some factors that are boosting the market growth in North America are technological advancements in iron deficiency anemia therapy and the present high-quality healthcare system. Additionally, the existence of a large number of players providing effective offerings is some other main factor that is providing support to the growth of the market in the region.

Global Iron Deficiency Anemia Market Growth, by Region 2022-2028

Asia-Pacific will have considerable growth in the Global Iron Deficiency Anemia Market 

The Asia-Pacific region is expected to witness significant growth opportunities for the market. Improving health care infrastructure, and the increasing investment made by government and companies are acting as the prime factors impacting the market in the region. Additionally, technology advancement in different countries of Asia-Pacific including India, China, and Japan is expected to drive the growth of the market in the region.

Market Players Outlook

The prominent players functioning in the global iron deficiency anemia market include AMAG Pharmaceuticals, Bayer AG, Novartis AG, Sanofi, and Pieris Pharmaceuticals, Inc. among others. These key manufacturers are adopting various strategies such as new product launches and approvals, mergers and acquisitions, partnerships, and collaborations, and many others to thrive in a competitive environment. For instance, In November 2021, Pharmacosmos A/S. had done the acquisition for around $225 million of AbFero Pharmaceuticals, Inc., which is considered a Boston-based, privately-held clinical-stage pharmaceutical company enhancing the treatment of diseases of iron overload.

In November 2021, Rockwell Medical, Inc. had submitted its Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) in order to provide support to its proposed Phase 2 clinical trial of Ferric Pyrophosphate Citrate (FPC), which is developed for giving treatment of iron deficiency anemia and maintenance of hemoglobin in patients receiving infusion therapy in the home. 

In May 2020, Akebia Therapeutics, Inc. which is considered as a biopharmaceutical company focused on the development and commercialization of therapeutics for people living with kidney disease, had set forth the collaboration with Japan Tobacco, Inc., in order to bring Riona Tablets 250mg for the purpose of providing treatment to treat adult patients with iron deficiency anemia (IDA) in Japan.

In June 2019, Akebia Therapeutics, Inc., had introduced the launch of AkebiaCares which is a part of its enhanced patient access program in order to offer patients with Auryxia is the oral iron tablet approved in the US in order to treat non-dialysis-dependent-chronic kidney disease (CKD) adult patients for iron deficiency anemia (IDA), and dialysis-dependent CKD adult patients for hyperphosphatemia.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global iron deficiency anemia market. Based on the availability of data, information related to new product launches, 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.