Iron supplements are prescribed when diet alone cannot meet iron requirements. Oral or intravenous iron formulations are given depending upon the severity of the condition. The treatment aims to restore iron stores and relieve symptoms like fatigue, dizziness, and shortness of breath. Branded as well as generic supplements containing ferrous sulfate, ferrous fumarate, and nanoparticles are available. The global iron deficiency anemia treatment market is estimated to be valued at US$ 12.1 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Iron Deficiency Anemia Treatment Market Size are AdvaCare Pharma, Otsuka Pharmaceutical Co., Ltd., Sanofi, Emcure Pharmaceuticals, Wellona Pharma, SiNi Pharma Pvt Ltd, Sun Pharmaceutical Industries Ltd., Zydus Group, Akebia Therapeutics., Rockwell Medical, Inc., AbbVie Inc., Pfizer, Inc., Velnex Medicare, PHAEDRUS LIFE SCIENCE PVT. LTD., Inopha International Co, Limited, PharmaNutra S.p.A., Pharmascience Inc., American Regent, Inc. These companies focus on expanding their iron supplement portfolio through acquisitions and new product launches.
The global iron deficiency anemia treatment market is anticipated to grow due to the increasing prevalence of iron deficiency anemia caused by factors like inadequate nutrition, pregnancy, menstrual blood loss and chronic disorders. As per WHO, over 2 billion people suffer from anemia worldwide with iron deficiency being the most common cause.
Growing healthcare expenditures and insurance coverage are enabling more patients to opt for iron supplementation therapy worldwide. The market is also witnessing lucrative opportunities in emerging economies due to rising medical needs of expanding populations. Key players are actively expanding in Asia Pacific and Latin America regions through partnerships with local suppliers.
Market Drivers
A key factor fueling the growth of the iron deficiency anemia treatment market is the increasing prevalence of iron deficiency globally. As per an estimate by the Centers for Disease Control and Prevention (CDC), approximately 1.8 billion people are anemic due to lack of iron. Developing countries in Asia and Africa have high burden of anemia owing to a variety of factors like poverty, malnutrition and infectious diseases like malaria. This has increased the demand for iron supplements.
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