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Iron Deficiency Anemia Therapy Market Size (2024 - 2029)

The Iron Deficiency Anemia Therapy Market is projected to experience growth over the forecast period, driven by an increasing prevalence of anemia, particularly among women and children, and heightened research and development activities. The market's expansion is influenced by the demand for effective treatments due to the rising incidence of iron deficiency anemia, exacerbated by factors such as inadequate dietary iron and excessive red blood cell loss. The COVID-19 pandemic has further underscored the need for anemia therapies, as anemia has been linked to poorer outcomes in infected patients. Despite these growth drivers, the market may face challenges from stringent regulatory requirements and potential adverse drug effects.

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Market Size of Iron Deficiency Anemia Therapy Industry

Iron Deficiency Anemia Therapy Market Summary
Study Period 2021 - 2029
Market Size (2024) USD 3.69 Billion
Market Size (2029) USD 4.84 Billion
CAGR (2024 - 2029) 5.60 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Iron Deficiency Anemia Therapy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Iron Deficiency Anemia Therapy Market Analysis

The Iron Deficiency Anemia Therapy Market size is estimated at USD 3.69 billion in 2024, and is expected to reach USD 4.84 billion by 2029, growing at a CAGR of 5.60% during the forecast period (2024-2029).

The COVID-19 pandemic had a significant impact on the healthcare systems, with significant consequences not only for COVID-19-infected patients but also for others, resulting in the cancellation of treatment and procedures to manage and reserve resources. For instance, according to an article published by the Nature Public Health Emergency Collection, in January 2021, a study was conducted to investigate the prevalence, pathogenesis, and clinical significance of anemia among 206 patients with COVID-19 at the time of their hospitalization in an Internal Medicine unit, showed that the global prevalence of anemia was 61% and females were found to have low hemoglobin concentration as compared to males. Thus, the increased prevalence of iron deficiency anemia in females is expected to increase the demand for iron anemia therapy, which is expected to have a positive impact on the studied market during pandemics. Additionally, according to the study published by BMC Infectious Diseases in February 2021, titled "Anemia predicts poor outcomes of COVID-19 in hospitalized patients: a prospective study in Iran", it has been observed that patients with anemia were more likely to develop cancer, diabetes, renal disease, hypertension, and cardiovascular disease. In addition, as per the same source, anemia was prevalent in COVID-19 patients who were hospitalized and was associated with poor COVID-19 outcomes. Thus, the rising complication of anemia in COVID-19 patients is likely to increase the demand for iron treatment and therapies to treat the anemia condition in the patients, thereby expected to drive the growth of the market during the pandemic. However, currently the market is expected have a steady growth during the forecast period as the pandemic subsides eventually.

Certain factors that are propelling the market growth are the high prevalence of anemia and increasing research and development activities related to the product. The rising prevalence of iron deficiency anemia due to lack of sufficient iron quantities in food and excessive loss of red blood cells, especially in women and children can lead to developmental defects in fetal problems in pregnant women and growing children, respectively. For instance, according to the 2021 Global Nutrition Report, published in November 2021, it has been found that over half of Indian women aged between 15 - 49 years are anemic. In addition, as per the same source, about 53% of the women in India were found to be anemic in 2020. Thus, the increasing burden of iron deficiency anemia among the population requires effective treatment and therapies, which is expected to fuel the market growth over the forecast period. Additionally, according to an article published by the Mediterranean Journal of Hematology and Infectious Diseases, in July 2020, titled, it has been observed that the other nutritional deficiencies (vitamin B12, folic acid, riboflavin), chronic diseases, parasitic infections like malaria, hemoglobinopathies, and lead poisoning are the additional causes of anemia in the developing countries.

Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, stringent regulatory guidelines and adverse effects of the drugs are expected to restrain the market growth.

Iron Deficiency Anemia Therapy Industry Segmentation

As per the scope of the report, Iron Deficiency Anemia is caused due to the lack of iron, and it is one of the most common types of anemia that occurs when body does not have enough iron to make hemoglobin that transports oxygen via blood to the whole body. Iron deficiency anemia can also be caused by a poor diet or certain intestinal diseases that interfere with the body's ability to absorb iron. The Iron Deficiency Anemia Therapy Market is segmented by Therapy Type (Oral Iron Therapy, Parenteral Iron Therapy, Red Blood Cell Transfusion), End User (Hospitals, Clinics, and Home Healthcare), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Therapy Type
Oral Iron Therapy
Parenteral Iron Therapy
Red Blood Cell Transfusion
By End User
Hospitals
Clinics
Home Healthcare
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Iron Deficiency Anemia Therapy Market Size Summary

The iron deficiency anemia market is poised for significant growth over the forecast period, driven by the increasing prevalence of anemia, particularly among women and children, and the rising demand for effective therapies. The market is experiencing a steady expansion as the impact of the COVID-19 pandemic subsides, which had previously led to a surge in anemia cases due to its association with poor health outcomes in infected patients. The demand for iron deficiency anemia therapy is further bolstered by the high prevalence of anemia in developing regions, where nutritional deficiencies and chronic diseases contribute to the condition. The market is characterized by a fragmented landscape with key players actively engaged in research and development to introduce novel therapies and products, including oral iron supplements, which are gaining traction as a primary treatment option.

North America is expected to dominate the market, supported by a well-established healthcare infrastructure and a high prevalence of iron deficiency anemia. The region's growth is fueled by the increasing burden of anemia in pregnant women and children, prompting a demand for effective therapy products. The market is also witnessing a rise in product approvals and company initiatives to develop innovative therapies, further driving growth. The presence of major market players and their strategic collaborations and acquisitions are expected to enhance the competitive landscape, ensuring a robust market expansion over the forecast period.

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Iron Deficiency Anemia Therapy Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 High Prevalence of Anemia

      2. 1.2.2 Increasing Research and Development Activities Related to the Product

    3. 1.3 Market Restraints

      1. 1.3.1 Stringent Regulatory Guidelines

      2. 1.3.2 Adverse Effects

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Therapy Type

      1. 2.1.1 Oral Iron Therapy

      2. 2.1.2 Parenteral Iron Therapy

      3. 2.1.3 Red Blood Cell Transfusion

    2. 2.2 By End User

      1. 2.2.1 Hospitals

      2. 2.2.2 Clinics

      3. 2.2.3 Home Healthcare

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Iron Deficiency Anemia Therapy Market Size FAQs

The Iron Deficiency Anemia Therapy Market size is expected to reach USD 3.69 billion in 2024 and grow at a CAGR of 5.60% to reach USD 4.84 billion by 2029.

In 2024, the Iron Deficiency Anemia Therapy Market size is expected to reach USD 3.69 billion.

Iron Deficiency Anemia Market Report Snapshots

Iron Deficiency Anemia Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)