The global IV and oral iron drugs market size to cross USD 10 billion in 2026, growing at a CAGR of 11.6% during 2021–2026. The global IV and oral iron drugs market is expected to grow due to the prevalence of iron deficiency (ID). This deficiency is a highly widespread nutritional disorder, affecting around one-fourth of the global population, especially women and children. It is one of the predominant causes of anemia. Anemia accounts for around 9% of the total global disease burden. Several chronic diseases are frequently associated with iron deficiency anemia (IDA) such as chronic kidney disease (CKD), chronic heart failure, cancer, and inflammatory bowel diseases. As anemia is associated with chronic fatigue, diminished well-being, and impaired cognitive function, the treatment with oral and IV iron drugs reduces the need for blood transfusion in patients. Further, the WHO rates ID as the most common and widespread nutritional disorder globally, and its prevalence is expected to grow with the aging population and the incidence of various chronic disorders.
- The growing preference for iron drugs with dextran-free elements is one of the key factors of the global IV and oral iron drugs market growth.
- The adult age group segment is expected to observe an incremental growth of over $8.7 billion by 2026 due to the high uptake of IV & oral iron drugs in the adult population across the world.
- North America is expected to witness the highest growth rate during the forecast period due to the high prevalence of renal and nephrological disorders.
- The nephrological segment is expected to grow at the highest CAGR during the period 2020–2026 on account of the availability of approved prescription iron drugs and increased demand for IV iron drugs, especially in developed economies.
GLOBAL IV AND ORAL IRON DRUGS MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Route of Administration
- Patient Group
INSIGHTS BY ROUTE OF ADMINISTRATION
Expected launches of branded IV iron drugs in new markets and expanded indication approvals for existing commercially available brands are the key factors influencing the IV iron drugs' growth. The increased uptake of branded IV drugs in the US and European countries is also expected to contribute significantly during the forecast period. Moreover, the rise in global medicine and healthcare expenditure and high-sensitivity, accuracy, easy, and convenient access to intravenous iron dosages is likely to drive the demand for IV iron drugs over the next few years.
Oral iron therapy is widely considered the first line of treatment for iron deficiency (ID) among adults and children, thereby largely driving the segment's overall growth. As it is difficult to maintain iron requirements during pregnancy via dietary, most global and regional health organizations prescribe oral supplements during the period. Global organizations, including WHO and UNICEF, recommend oral supplements for children and adolescents in countries, where the prevalence of ID and anemia is over 40%. Although several new IV drugs are emerging, oral route of drug administration is considered effective to increase hemoglobin levels, restore iron levels in the body, and treat ID.
INSIGHTS BY APPLICATION
The growing prevalence of chronic kidney disease (CKD) and nephrological disorders across the world is increasing the application of iron drugs at a faster rate, and the trend is likely to continue during the forecast period. Across the globe, one in five men and one in four women have CKD among people above 65 years of age. Hence, a high prevalence of renal failures, particularly in developing countries such as China and India, where the number of older adults is increasing, is expected to affect market growth. Approximately 70% of patients with CKD suffer from iron deficiencies, which can aggravate renal anemia. Therefore, iron therapy with IV & oral iron drugs is an essential treatment option for CKD patients.
Iron deficiency (ID) is one of the common causes of anemia in industrialized countries with a prevalence rate of 22% among pregnant women and 10% in non-pregnant. ID in women has treated treatment with iron replacement therapies. These therapies remain the front-line option to treatment despite their GI side-effects. A diverse range of low-cost generic drugs is used to treat ID and iron deficiency anemia (IDA) in women and children. Further, neonates born with iron deficiency are prone to cognitive and behavioral abnormalities that persist after repletion, highlight the need for heightened awareness of ID diagnosis and treatment with iron replacement therapies.
INSIGHTS BY PATIENT GROUP
Adults constitute over 81% share of the global IV and oral iron drugs market. Adults dominate the market due to the high incidence and prevalence of ID and IDA in the elderly population across the globe. CKD is relatively common among adults, with a prevalence rate of up to 13%. With the increase in diabetes and hypertension incidence, CKD patients are likely to grow, thereby increasing the demand for iron drugs. Also, the percentage of the geriatric population is increasing at a significant rate worldwide, which is a key factor driving the growth of the segment.
The growing pediatric population with ID/IDA is majorly contributing to the growth of the market segment. ID is the most common cause of anemia and is also a common deficiency among nonanemic children, mainly among children of resource-limited countries. Iron is an essential nutrient to the child's growth and development and ID in the pediatric population can affect development and lead to anemia. According to the WHO, a high percentage of children aged between 2 and 14 years are anemic in developing countries, thereby highlighting the demand for oral and IV iron drug supplements.
INSIGHTS BY DISTRIBUTION
Hospital pharmacies offer iron drugs with adequate discounts and rebates. Innovations in hospital pharmacy practice have led to the emergence of pharmacists working in community health services, aged care facilities, rehabilitation facilities, and general practice clinics. Such practices of hospital pharmacists are further driving the uptake of iron drugs via hospital pharmacies.
In 2020, the offline retail pharmacies segment accounted for over 41% of the global market. Offline retail pharmacies majorly include conventional retail chains and multi-line retailers. The distribution of iron drugs through physical/offline retail stores has increased, particularly in developing regions such as Latin America and Asia. The high prevalence of ID/IDA is a major factor in driving the market growth. Factors such as reputation, consumer awareness, customer satisfaction have increased loyalty among consumers, thereby influencing consumers to opt for retail stores. Retail stores have also highly qualified, dedicated experts, offer specialized services.
INSIGHTS BY GEOGRAPHY
The North American IV and oral iron drugs market share is expected to witness promising growth during the forecast period. The high uptake of branded iron drugs is one of the major reasons for strong growth. Vendors offering branded drugs are generating significantly higher revenue from the US than other markets. Also, the increased healthcare spending in the US and Canada is further contributing to the growth of the market. The prevalence of ID is likely to increase during the forecast period as the number of people with conditions such as CKD, CHF, IBD, and uterine bleeding is increasing in the country. Moreover, according to the United States Renal Data System (USRDS), the number of people suffering from CKD in the US alone was around 30 million people in 2020. A stressful lifestyle and the rise in chronic conditions are factors for the increase in the number of people with ID in the region.
INSIGHTS BY VENDORS
Vifor Pharma and Daiichi Sankyo Company are the leading players in the global IV and oral iron drugs market. However, AMAG Pharmaceuticals, PHARMACOSMOS, Sanofi, Allergan, Akebia Therapeutics, and Shield Therapeutics are other prominent players in the market with notable shares. Vendors are competing on a wide variety of factors such as innovations, marketing strategies, and distribution channels. Global companies have a wide geographic footprint, diversified product portfolio, and a strong focus on product innovation, R&D, and business expansion activities. Key players are expected to drive sales and margin growth in their business by expanding sales organization, maintaining technology leadership through R&D, and building clinical evidence to support the benefits of the product and services.
The global IV and oral iron drugs market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Route of Administration
- Obstetrics & Gynecology (OBGYN)
- Heart Failure (HF)
- Hospital Pharmacies
- Offline Retail Pharmacies
- Online Channels
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa