According to a recent market assessment conducted by Future Market Insights, the global Intravenous Iron Drugs Market Size is predicted to reach US$ 6.3 billion by 2032. According to the report’s findings, Intravenous Iron Drugs revenue created by Ferric Carboxymaltose will be in high demand in the market, as they will generate the majority of revenue.
According to the American Heart Association, more than 130 million persons in the United States will have cardiovascular disease by 2035. Furthermore, the Centres for Disease Control and Prevention states that heart disease kills 0.6 million Americans each year. This data is closely related to the number of hospital admissions.
Due to its increased use, greater performance, and lower cost, the Ferric Carboxymaltose (FCM) segment led the market for intravenous iron medications in 2021, with about 50% revenue share. It is a dextran-free parenteral iron medicine recommended for the rapid and high-dose restoration of depleted iron stores. This medication is a stable chemical that has the advantage of not containing any extraneous substances and having a very low immunogenic potential, posing a very minimal risk of anaphylactic reactions. FCM is more successful at increasing haemoglobin levels and has fewer negative effects. The massive increase may also be attributable to the FDA’s approval of injectables in North America, as well as approval outside of North America.
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The region’s growing senior population is a major driver of industry growth. According to US Census Bureau projections, the number of Americans aged 65 and over will increase from 52 million in 2018 to around 95 million by 2060. Furthermore, the overall proportion of people aged 65 and up is expected to rise from 16% to 23%.
It could be linked to a higher prevalence of cancer, digestive disorders, and kidney disease in the area. These circumstances also contribute to its domination. It has also helped to the increased awareness of women’s health and celiac disease.
Intravenous Iron Drugs Market Growth Prospects:
Diabetes and hypertension are the two leading causes of CKD, according to the National Kidney Foundation. Furthermore, chronic renal illness affects nearly 10% of the global population, with over 2 million people requiring dialysis on a daily basis, according to the report. The majority of these people are frequently seen in countries such as Italy, the United States, Germany, Japan, and Brazil.
Many people who have the condition are unaware of it until serious symptoms arise. Chronic renal disease is predicted to become more common in developing nations such as India and China, meaning an increase in the senior population in the coming years. Because of the rising prevalence of these illnesses, there is a higher need for intravenous iron medications.
One of the most serious drawbacks of oral iron treatments is the likelihood of serious side effects. Oral iron treatments frequently cause digestive difficulties such as stomach discomfort, constipation, loss of appetite, nausea, and vomiting. An overdose of oral iron medicines can cause convulsions, shallow or rapid breathing, weariness or weakness, fatigue, pale complexion, and bluish skin or fingernails.
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Competitive Landscape
Some of the key players in the global Intravenous Iron Drugs market include Vifor Pharma Management Ltd.; AMAG Pharmaceuticals; Daiichi Sankyo Company, Ltd.; Sanofi S.A.; Pharmacosmos A/S; Shield Therapeutics Plc; AbbVie Inc., Vifor Pharma Management Ltd.; AMAG Pharmaceuticals; Daiichi Sankyo Company, Ltd.; Sanofi S.A.; Pharmacosmos A/S; and Shield Therapeutics Plc among others.
Some of the recent developments in the Intravenous Iron Drugs Market are:
- In April 2018, AMAG Pharmaceuticals got FDA clearance for a supplementary new drug application for ferumoxytol injection to cover all eligible people with iron-deficiency anaemia (IDA) who cannot tolerate or do not respond to oral iron.
- In May 2019, Rockwell Medical, Inc. filed a New Drug Application (NDA) to the United States Food and Drug Administration (FDA) for the Intravenous (I.V.) version of Triferic.
- In September 2020, Daiichi Sankyo announced the formation of its wholly-owned subsidiary Daiichi Sankyo Vietnam Company Limited. This program was launched in order to strengthen the company’s Asian business platform.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Intravenous Iron Drugs Market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2022 to 2032.
The study reveals essential insights on the basis of Product Type (Iron Dextran, Iron Sucrose, Ferric Carboxymaltose, Other Product Types), by Indication (Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, Other Applications), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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