Global IV And Oral Iron Overview
IV and Oral Iron Drugs Market accounted for USD 1.6 Billion in 2020 and is estimated to be USD 3.3 Billion by 2030 and is anticipated to register a CAGR of 7.5%
Iron is a vital component for all living organisms as they are essential for the smooth functioning of various metabolic processes that include oxygen transport, electron transport, and DNA synthesis. Moreover, iron is included in the production of erythrocytes (RBCs) that transport oxygen in the blood. The lack of proper levels of iron or decreased total iron contents in the body is called iron deficiency (ID). The absence of adequate iron levels will decrease the production of RBCs in the body, therefore, affecting the transport of oxygen to different parts of the body.
Drivers and Restraints:
The increase in the population of iron deficiency leads to highly prevalent nutritional disorders and around 1/4th population is affected globally which is the major driving factor for the growth of the global market. As per the World Health Organization (WHO), effective and timely treatment of ID can raise both national productivity levels by as much as 20% and also rise in restore personal health. Additionally, the increase in demand for non-dextran IV iron therapeutics for the treatment of iron deficiency is the propelling factor for the growth of the target market. Moreover, increasing demand among the patients of dialysis and non-dialysis patients is another fueling factor for the growth of the global market. However, the availability of alternatives for IV & oral drugs in a low cost is the major restraining factor for the growth of the global IV and oral iron drugs market. Nevertheless, the rise in strategic licensing and collaborations can create a lucrative opportunity for the growth of the target market.
Segmentation:
The global IV and oral iron drugs market is segmented based on the route of administration, application, and region.
Based on the route of administration, the global IV and oral iron drugs market is segmented into oral iron drugs and IV iron drugs. IV iron drugs are the dominating drugs for the route of administration segments due to the fast and timely effect of IV iron drugs. Based on application, the target market is bifurcated into nephrology, obstetrics & gynecology (OBGYN), cardiac & thoracic surgeries, surgeries, gastroenterology, oncology, and heart failure.
Based on the region the global IV and oral iron drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounts highest revenue share to the global IV and oral iron drugs market due to the growing population of iron deficiency and the rise in the geriatric population. Europe is anticipated to witness significant growth in the target market due to increasing demand for IV and oral iron drugs over the forecast period.
Key Players:
The key players operating the global IV and oral iron drugs market involve VIFOR Pharma Group, Daiichi Sankyo Company, Amag Pharmaceuticals, Akebia Therapeutics, Shield Therapeutics, Pharmacosmos, Allergan, Sunny Pharmaceutical, AOP Orphan Pharmaceuticals, and Salveo Lifecare. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the route of administrations to gain a competitive edge in the target market. For instance, in 2018, Shield Therapeutics signed an agreement with Norgine for the product Feraccru. Due to this agreement, Norgine received the right for the commercialization of Feraccru from Shield Therapeutics.
Detailed Segmentation:
Global IV and Oral Iron Drugs Market, By Route of Administration:
- Oral Iron Drugs
- IV Iron Drugs
Global IV and Oral Iron Drugs Market, By Application:
- Nephrology
- Obstetrics & Gynecology (OBGYN)
- Cardiac & Thoracic Surgeries
- Surgeries
- Gastroenterology
- Oncology
- Heart Failure
Global IV and Oral Iron Drugs Market, By Region:
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- North America
- North America IV and Oral Iron Drugs Market, By Route of Administration
- North America IV and Oral Iron Drugs Market, By Application
- North America IV and Oral Iron Drugs Market, By Country
- The U.S.
- Canada
- Europe
- Europe IV and Oral Iron Drugs Market, By Route of Administration
- Europe IV and Oral Iron Drugs Market, By Application
- Europe IV and Oral Iron Drugs Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Asia Pacific IV and Oral Iron Drugs Market, By Route of Administration
- Asia Pacific IV and Oral Iron Drugs Market, By Application
- Asia Pacific IV and Oral Iron Drugs Market, By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Latin America IV and Oral Iron Drugs Market, By Route of Administration
- Latin America IV and Oral Iron Drugs Market, By Application
- Latin America IV and Oral Iron Drugs Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Middle East & Africa IV and Oral Iron Drugs Market, By Route of Administration
- Middle East & Africa IV and Oral Iron Drugs Market, By Application
- Middle East & Africa IV and Oral Iron Drugs Market, By Country
- GCC
- Israel
- South Africa
- Rest of the Middle East & Africa
- North America
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Company Profile:
- VIFOR Pharma Group
- Daiichi Sankyo Company
- Amag Pharmaceuticals
- Akebia Therapeutics
- Shield Therapeutics
- Pharmacosmos
- Allergan
- Sunny Pharmaceutical
- AOP Orphan Pharmaceuticals
- Salveo Lifecare
Key Issues Addressed
- What is the total revenue potential of the global IV and oral iron drugs market? How that market is expected to grow during the study period?
- What are some of the major growth opportunities in the IV and oral iron drugs market?
- Which companies are the major players in the IV and oral iron drugs market?
FAQs
The IV and Oral Iron Drugs Market accounted for US$ 1.6 billion in 2020 and is estimated to be US$ 3.3 billion by 2030 and is anticipated to register a CAGR of 7.5%.
The IV and oral iron drugs market is segmented based on the route of administration, application, and region.
the development of innovative iron formulations, the focus on patient-friendly iron supplementation, and advancements in iron deficiency management, presenting significant opportunities in the global IV and Oral Iron Drugs Market.
high prevalence of iron deficiency disorders, advancements in iron drug delivery technologies, the growing awareness of the importance of iron supplementation, and the rising demand for effective and well-tolerated iron therapies.
North America and Europe are expected to dominate the IV and Oral Iron Drugs Market, driven by a high prevalence of iron deficiency, well-established healthcare systems, and significant market presence of key players in these regions.
The key players operating the global IV and oral iron drugs market involves VIFOR Pharma Group, Daiichi Sankyo Company, Amag Pharmaceuticals, Akebia Therapeutics, Shield Therapeutics, Pharmacosmos, Allergan, Sunny Pharmaceutical, AOP Orphan Pharmaceuticals, and Salveo Lifecare.