In a year that marked unprecedented challenges and transformations, the Global Anemia Treatment Industry stood as a beacon of growth and promise. As we step into 2023, the market is set to soar beyond the significant milestone of US$ 10.0 billion, with even more remarkable developments on the horizon.
A recent report from Future Market Insights (FMI) highlights the burgeoning prospects of the Anemia Treatment Market, projecting a substantial growth trajectory that aims to reach an impressive market value of US$ 14.9 billion by 2028. This journey will be driven by a compelling Compound Annual Growth Rate (CAGR) of 6.9%.
The demand for Anemia therapy is predominantly fueled by cases associated with one or more chronic medical conditions, underlining the critical role that this market plays in the global healthcare landscape. Among these conditions, chronic kidney disease (CKD) stands out as a key contributor, a non-communicable chronic disease that is significantly shaping the demographics of emerging regions.
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Vitamin Supplements Gain Significant Traction for Anemia Treatment
A surge in R&D investments is prominently improving the scope of anemia treatment. Moreover, a rising number of pipeline drugs and promising potential of biosimilars will contribute to the demand for anemia treatment. However, high price point associated with biologics continues to mask their superior treatment efficacy over conventional medications.
More than 75% of anemia treatment market revenue is accounted by medications, of which, ESAs (erythropoietin stimulating agents) remain bestselling. Blood transfusion also cited as an important type of anemia treatment, contributing to the market growth. However, the demand for former is poised for a robust double-digit yearly growth in 2021 and ahead.
Lucrative emergence of ESAs and soaring consumption of other biosimilar medications are likely to introduce new investment opportunities in anemia treatment market. Extensive availability, accessibility, and economic price point of biosimilar drugs is strongly backed by an increasing number of FDA approvals. This according to FMI will significantly contribute in improvement of CKD, thereby bolstering the revenue of anemia treatment market. FDA recently issued an approval to a biosimilar drug by Pfizer for use in anemia treatment – Retacrit (epoetin alfa-epbx).
Over 55% of dietary supplements consumed as a part of anemia treatment are vitamin supplements. An increasing number of iron deficient patients will Unveil Click Here to Request Methodology!
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reportedly result in rapid demand growth of iron supplements in years to come, posing strong competition to that of vitamin supplements in the anemia treatment market. Currently, almost 60% of the medications and dietary supplements for anemia treatment is available at institutional pharmacies. The report also points to a gradually expanding share of retail pharmacies in the near future.
Just-under a third of the global demand for anemia treatment is raised by North American patients, whereas more than a third of the total demand is accounted collectively by East and South Asia. Europe is also cited as one of the key regional markets for anemia treatment providers.
Product-based Business Models Emerge as a Key Competitive Strategy
The consistent quest for therapeutically effective ESAs, dietary supplements, antibiotics, and other biologics to be used in anemia treatment continues to create attractive avenues in the R&D realm. Leading drug manufacturers are investing efforts in launching novel products and upgrading their existing consumable product portfolios. Amgen’s epoetin alpha has been a breakthrough product since its launch in the CKD treatment landscape and growing adoption continues to benefit the company.
Besides augmenting R&D investments, prominent players in anemia treatment market are also focusing on strategic agreements and partnerships – further paving the way for development of anemia treatment drugs. Emergence of partnership-based models in the competitive landscape of anemia treatment market is likely to reshape R&D structure in the anemia treatment market. The report prompts at major investment opportunities arising in open collaboration strategies. A number of drug manufacturers are also opting for partnerships with regional distribution leaders to form effective product-based distribution channels, particularly targeting developing regional markets.
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Anemia Treatment Market by Category
By Treatment:
- Medications
- Dietary Supplements
By Disease:
- Normocytic anemia
- Microcytic anemia
- Macrocytic anemia
By Distribution Channel:
- Institutional Pharmacies
- Retail Pharmacies
- Mail Order Pharmacies
Key Companies Profiled:
- Amgen Inc.
- Hoffmann-La Roche Ltd.
- Novartis AG
- Pfizer Inc.
- Janssen Pharmaceuticals, Inc.
- Teva Pharmaceutical Industries Ltd.
- AMAG Pharmaceuticals
- Rockwell Medical
- Akebia Therapeutics
- Vifor Pharma Management Ltd.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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