Rolling Stock Industry Status and Trend Report by 2026
The global Intravenous (IV) Iron Drugs Market size is expected to reach USD 2.90 billion by 2026,expanding at a CAGR of 7.2% during the forecast period, according to a new report by Grand View Research. Growing prevalence of chronic diseases, noncompliance of oral drug treatment and recent approvals of novel products are the key factors driving the IV iron drugs market. However, some of the factors that are restraining the market include the adverse side effects, stringent regulations, availability of nutraceutical alternatives, and complex approval process.
Iron is one of the crucial components in the hemoglobin and plays an important role in the transportation of oxygen throughout the body. It also takes part in several biological processes such as energy metabolism, formation of collagen, the synthesis of heme, formation of myoglobin, immune system functions, and neurotransmitter production. Around 30% of anemia in women and children in developing nations is caused by deficiency of iron according to a survey conducted by the Vitamin and Mineral Nutrition Information System in 2017. Growing cases of chronic kidney diseases, iron deficiency anemia in gastroenterology, gynecology and oncology and growing cohort with high rate of unresponsive oral therapy is expected to drive the demand for these drugs. Furthermore, increasing healthcare expenditure and high accuracy, sensitivity and easy access of intravenous iron drugs fuels the market growth.
Among the products, the ferric carboxymaltose segment dominated the global intravenous iron drugs market in 2018 and is expected to grow significantly due to its increasing application in drug discovery processes, superior performance, and reduced cost. Ferric carboxymaltose is marketed as Injectafer in North America and under the name of Ferinject outside North America. Asia Pacific is projected to demonstrate the highest CAGR during the forecast period, while North America held the largest market share in 2018.
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Further Key Findings From the Study Suggest:
- Among the applications, chronic kidney disease segment held the largest IV iron drugs market share in 2018, due to increasing prevalence and geriatric population
- Ferric carboxymaltose is expected to maintain its dominance through the forecast period due to the increasing application in drug discovery, superior performance and reduced cost
- Asia Pacific is projected to exhibit the fastest growth during the forecast period, which can be attributed to the increasing prevalence of chronic diseases in the region, improving healthcare infrastructure, and rising per capita healthcare expenditure
- Key players operating in the intravenous iron drugs market include Allergan, Inc.,AMAG Pharmaceuticals. Inc.,Daiichi Sankyo Company, Ltd., Sanofi, Fresenius Medical Care AG & Co., Vifor Pharma Management Ltd., Pharmacosmos A/S, Shield Therapeutics Plc, and American Regent. Inc.
Grand View Research has segmented the intravenous iron drugs market report on the basis of product, application, and region:
Intravenous Iron Drugs Product Outlook (Revenue, USD Million, 2015 – 2026)
- Iron Dextran
- Iron Sucrose
- Ferric Carboxymaltose
Intravenous Iron Drugs Application Outlook (Revenue, USD Million, 2015 – 2026)
- Chronic Kidney Disease
- Inflammatory Bowel Disease
- Other Diseases
About Grand View Research:
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world’s renowned academic institutions and Fortune 500 compnies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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