Intravenous Iron Drugs Market: Current Analysis and Forecast (2021-2027)
$3999 – $6999
Emphasis Product (Iron Dextran, Iron Sucrose, Ferric Carboxymaltose, and Others); Application (Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, and Others); End-Users (Hospitals, Ambulatory Surgical Centers, and Others); and Region/Country
The intravenous iron drugs market has captured significant market demand and is expected to grow at a CAGR of 8% during the forecast period. Anemia is a condition when the blood does not have enough red blood cells. The RBCs have iron and hemoglobin, which is a protein that helps carry oxygen through the bloodstream to organs all through the body. The rise in the number cases of anemia cases worldwide is rising the demand for iron-based supplements. Furthermore, most women suffer from anemia during menstruation and pregnancy. For instance, as per the WHO, in 2019, global anemia prevalence was 29.9% in women of reproductive age, equivalent to over half a billion women aged 15-49 years. The anemic prevalence was 29.6% in non-pregnant women of reproductive age, and 36.5% in pregnant women. Additionally, the rising number of surgeries and increasing prevalence of chronic disorders are attributed to the growth of the intravenous iron drug market.
COVID-19 has slowed the growth of the Intravenous Iron market, as countries were forced to implement lockdowns during the first half of 2020. Due to stringent government regulation and escalated COVID-19 cases, the hospitals engaged their resources in the COVID-19 treatment and postpended the inessential appointments during the pandemic
Vifor Pharma Management Ltd., AMAG Pharmaceuticals, Daiichi Sankyo Company, Ltd., Sanofi S.A., Pharmacosmos A/S, Shield Therapeutics Plc, AbbVie, Rockwell Medical, Americal Reagent, and Keryx Biopharmaceuticals Inc
are some of the key players in the market. Several strategic measures have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, ferric carboxymaltose category is expected to witness considerable growth during the forecast period”
Based on product, the market has been categorized into iron dextran, iron sucrose, ferric carboxymaltose, and others. Amongst these, the ferric carboxymaltose category is expected to witness significant growth during the forecast period. The stability of the compound which has minima immunogenic potential of the drugs along with the higher infusion rate of the drug is responsible for the significant growth of the segment in the intravenous iron market. Furthermore, the frequent product launches also attribute to the considerable market share of the segment in the IV iron market. For example, in May 2021, Daiichi Sankyo, Inc. and American Regent, Inc., announced that the FDA has approved a single 1000 mg dose option of Injectafer® (ferric carboxymaltose injection), an iron replacement product, for the treatment of iron deficiency anemia in adult patients who have an intolerance to oral iron, have had unsatisfactory response to oral iron, or have non-dialysis dependent chronic kidney disease (CKD).
“Amongst applications, chronic kidney disease category held a significant share in 2020”
Based on the application, the market has been categorized into chronic kidney disease, inflammatory bowel disease, cancer, and others. Amongst these, the chronic kidney disease segment is expected to the significant growth in the Intravenous Iron market. The rising incidences of kidney failures and CKDs, increase the adoption of dialysis resulting in excessive blood loss from the body and causing anemia. Thus, the demand for iron supplements increases. For instance, according to Kidney Care UK, over 68,000 people in the UK are being treated for kidney failure.
“Amongst end-users, specialty to lead growth in the global Intravenous Iron Drugs market”
Based on end-users, the market is classified into the market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals are predicted to have considerable market growth during the forecast period. This is due to the specialization of hospitals in multiple disease treatments and the presence of skilled professionals. Furthermore, a higher proportion of anemia in children imposes pressure on the childcare departments in the hospitals for the better treatment of the children is also a contributing factor to the segmental growth in the supplement iron market. For example, as per the WHO, in 2019, global anemia prevalence was 39.8% in children aged 6-59 months, equivalent to 269 million children with anemia. The prevalence of anemia in children under five was highest in the African Region, 60.2%.
“North America to witness significant growth during the forecast period”
North America holds a lucrative market share owing to favorable government policies and rising healthcare expenditure are some of the prominent factors driving the region’s market. Furthermore, the rising incidences of chronic diseases also rises the anemia cases in the region attributed to the increasing demand for the supplement iron. For instance, according to the Canadian Government, nearly, 2,60,000 Canadians are suffering from inflammatory bowel disease. People can develop it at any age, but more often inflammatory bowel disease is diagnosed in older teenagers and people in their twenties. The presence of the major economies, higher disposable income, and the presence of well-established market players in the region are the few driving factors that drive the market growth of Intravenous Iron in the region.
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- Deep dive regional level analysis of the industry.
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Intravenous Iron Drugs Market|
|2.2.||Research Methodology of the Intravenous Iron Drugs Market|
|2.5.||Main Objective of the Intravenous Iron Drugs Market Study|
|5||IMPACT OF COVID-19 ON THE INTRAVENOUS IRON DRUGS MARKET|
|6||INTRAVENOUS IRON DRUGS MARKET REVENUE (USD BN), 2019-2027F|
|8.1.||Chronic Kidney Disease|
|8.2.||Inflammatory Bowel Disease|
|9.2.||Ambulatory Surgical centers|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.5.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||INTRAVENOUS IRON DRUGS MARKET OPPORTUNITIES|
|13||INTRAVENOUS IRON DRUGS MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15.1.1.||Porter’s Five Forces Analysis|
|16.1.||Vifor Pharma Management Ltd.|
|16.3.||Daiichi Sankyo Company, Ltd.|
|16.6.||Shield Therapeutics Plc|
|16.10.||Keryx Biopharmaceuticals Inc|
Research Methodology for the Global Intravenous Iron Drugs Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global intravenous iron drugs market were the three major steps undertaken to create and analyze the adoption of intravenous iron drugs in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global intravenous iron drugs market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the intravenous iron drugs market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the intravenous iron drugs market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product, application, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the intravenous iron drugs market. Further, we conducted factor analysis using dependent and independent variables such as various product, applications, and end-users of intravenous iron drugs. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the intravenous iron drugs market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Intravenous Iron Drugs market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Intravenous Iron Drugs market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Intravenous Iron Drugs market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global intravenous iron drugs market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, application, and end-users in the global Intravenous Iron Drugs market.
The main objective of the global Intravenous Iron Drugs Market Study
The current & future market trends of global intravenous iron drugs market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the intravenous iron drugs market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, application, and end-users.
- Define and analysis of the regulatory framework for the intravenous iron drugs market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the intravenous iron drugs market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the intravenous iron drugs market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry