The global intravenous and oral iron drugs market in North America is expected to witness lucrative growth in the upcoming years.
According to the latest Arizton's market research report, the global IV and oral iron drugs market size to cross USD 10 billion by 2026, growing at a CAGR of around 11.6% during the forecast period.
Global IV and Oral Iron Drugs Market Growth Analysis
Intravenous and oral iron drugs was available in the global market for the past several decades. The increase adoption of these drugs is due to the numerous benefits that these have over existing therapeutics and medications for treating many indications associated with ID. The global IV and oral iron drugs market is highly dynamic as end-users are understanding the clinical importance of these drugs in delivering effective treatment for ID & IDA. Innovation by players is contributing to the growth of the global IV and oral iron drugs market. The growing demand for dextran-free iron therapeutics for the treatment of ID/IDA, as well as the demand for iron drugs among dialysis and non-dialysis are projected to drive the growth of the global IV and oral drugs market in the future.
What’s Trending in the Market?
- Several companies are strengthening their positions by conducting disease awareness programs, clinical trials, and medical education support for physicians. Such initiatives are likely to boost the adoption of IV and oral iron drugs.
- Vifor Pharma focuses on both in-licensing and in-house development of iron-based therapies to commercially launch innovative products to patients across the world.
- Daichii Sankyo Company plans to expand the iron injection franchise, which is the major business unit of American Regent.
As the demand for dextran-based iron drugs is declining at a faster rate, vendors are either discontinuing their dextran-based iron formulations or focusing on non-dextran iron drugs to gain traction among end-users and expand their market presence.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by route of administration, application, patient group, distribution, and geography
- Competitive Landscape – 2 Key Company Profiles, 7 Other Prominent Vendors, and 6 other vendors
North America is a Major Revenue Contributor in the Global IV and Oral Iron Drugs Market
The dominance of North America is mainly attributed to the high prevalence of iron deficiency and innovations in the formula IV & oral iron drugs. Factors such as the increase in chronic conditions and a stressful lifestyle are contributing to the rise in the number of people with ID in North America. North America is growing at a faster rate owing to the rising prevalence of chronic conditions related to ID and IDA as comorbidities. The global IV and oral iron drugs market in North America is expected to witness lucrative growth in the upcoming years. The rising of the healthcare spending by the population of the countries, including the US and Canada is further driving the growth in the region.
What are the Strategies Adopted by Players in the Global IV and Oral Iron Drugs Market?
Players in the global IV and oral iron drugs market are majorly offering branded oral and IV iron drugs that are generating significant revenues, especially in the US and European markets. Vifor Pharma and Daiichi Sankyo Company are the leading players in the global IV and oral iron drugs market with significant shares. Global companies have a wide geographic footprint, diversified product portfolio, and a strong focus on product innovation, R&D, and business expansion activities. The competition among the players is high due to the availability of low-cost generic drug formulations for treating ID. The manufacturers in the global IV and oral iron drugs market are aiming to leverage licensing and collaborations. This in turn, will help them to expand their market presence and create competitive products. Players are mostly focusing on adopting various other strategies to expand their reach worldwide and scope of iron drugs.
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