The global intravenous iron drugs market size is expected to reach USD 4.02 billion by 2028 according to a new study by Polaris Market Research. The report “Intravenous Iron Drugs Market Share, Size, Trends, Industry Analysis Report, By Application (Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, Others), By Products (Iron Dextran, Iron Sucrose, Ferric Carboxymaltose, Others), By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Rising number of clinical trials and growing responsiveness regarding intravenous ferrous drugs by the patients is expected to accelerate the market growth. Moreover, the increasing prevalence of cancer, chronic kidney diseases, and inflammatory bowel disease tied with the escalating investments for the product development activities by the key players may create a lucrative growth of the market over the forecasting years.
Based on application, the chronic kidney disease segment is holding the highest shares in the global industry in 2020, owing to the growing incidences of chronic kidney disease coupled with the increasing demand for intravenous ferrous medications for treating diseases such as urinary tract infections, kidney stones, etc. lead to the demand of the segment around the world.
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The demand for the market is rising due to the shifting trend from oral ferrous drugs to intravenous ferrous drugs, along with the launch of first-generation drugs such as Dexeferrum and InfeD. These developments in the medication method offer increased hemoglobin levels, enhance functional capacity, and restore iron.
The major shortcoming of the oral ferrous drug is the chances of severe adverse effects like digestive problems such as vomiting, loss of appetite, constipation, stomach aches, and nausea. The overdose of oral ferrous medications also causes low or fast breathing, pale skin, tiredness or weakness, and bluish fingernails or skin. Therefore, adopting intravenous ferrous drugs helps Erythropoiesis-stimulating Agents (ESAs) perform efficiently to lower anemic conditions. Moreover, it also safeguards an individual’s heart health, which, in turn, stimulates the industry demand in the upcoming years.
Major market participants include Allergan, AbbVie Inc., AMAG Pharmaceuticals, (American Regent. Inc.), American Regent, Inc., Galenica Ltd., Fresenius Medical Care AG & Co. KGaA, Pharmacosmos A/S, Sanofi, Rockwell Medical, Inc., Vifor Pharma Management Ltd, and SHIELD THERAPEUTICS are some of the key players operating in the global industry.
There are numerous industry competitors are introducing innovative products for expanding their business operations around the world. For instance, in July 2021, Sandoz U.S. approval of Ferumoxytol, an intravenous medicine prescribed to treat ferrous deficiency anemia (IDA).
Polaris Market Research has segmented the intravenous iron drugs market report on the basis of product, application, and region:
Intravenous Iron Drugs, Product Outlook (Revenue – USD Billion, 2016 – 2028)
- Iron Dextran
- Iron Sucrose
- Ferric Carboxymaltose
Intravenous Iron Drugs, Application Outlook (Revenue – USD Billion, 2016 – 2028)
- Chronic Kidney Disease
- Inflammatory Bowel Disease
Intravenous Iron Drugs, Regional Outlook (Revenue – USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa