Injectafer/Ferinject, Venofer, Monofer, FeraHeme, Ferrlecit, and Diafer are the popular dextran-free IV iron formulations generating millions of revenue for vendors in the global IV and oral iron drugs industry.
Arizton’s recent market research report on the IV and oral iron drugs industry identifies Vifor Pharma Group and Daiichi Sankyo Company as the prominent players in the market. This research report also provides a comprehensive industry study, competitive analysis, and trend forecasts. The research study segments the market by route of administration (oral iron drugs and intravenous iron drugs), application (nephrology, OBGYN, surgeries, gastroenterology, oncology, and chronic heart failure), and geography (North America, Europe, APAC, and ROW).
The global IV and oral iron drugs industry is expected to reach revenues of over $7.5 billion, growing at a CAGR of over 10% during 2018−2024.
Iron deficiency is a highly prevalent nutritional disorder, affecting around one-fourth of the global population, especially women and children. A high burden of iron deficiency prevalence and associated chronic conditions, increasing disease awareness, growing patient willingness to seek pharmaceutical therapy assistance for disease management, and increasing presence of favorable guidelines, which recommend the use of iron drugs as the first-line therapy for the treatment of ID, will augment market prospects during the forecast period.
The top three drivers and trends propelling the global IV and oral iron drugs industry are discussed below:
Expanding Pool of Target Population with Iron Deficiency
Iron deficiency is a highly prevalent nutritional disorder, with more than 2 billion people affected and it is one of the predominant causes of anemia. As anemia is associated with chronic fatigue, diminished well-being, and impaired cognitive function, treatment with IV and oral iron drugs is required to reduce the need for blood transfusion in patients. ID. IDA is widely prevalent in different patient groups like chronic kidney disease (CKD), chronic heart failure (CHF), and inflammatory bowel disease (IBD), as well as in pre-menopausal and pregnant women and children. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), the overall prevalence of CKD in the US is around 14%. Globally, CKD is very common among the adult age group with prevalence rates of up to 15%. Diabetes and hypertension are risk factors for developing CKD. Many IV and oral iron drugs have a proven record in the treatment of ID and IDA in CHF and CKD patients.
Check our report on - Enteral Feeding Devices Market - Global Outlook and Forecast 2019-2024
High demand for Non-dextran IV Iron Therapeutics
The first iron drug approved for intravenous use was high molecular weight (HMW) iron dextran for treating ID/IDA. The presence of dextran component is associated with an elevated risk of anaphylactic reactions. Later, in 1999 and 2001, two new IV iron preparations (ferric gluconate and iron sucrose) were introduced into the market as safer alternatives to iron dextran drugs. The ability of dextran free IV iron drugs to deliver larger dosages of elemental iron as compared to dextran-based formulations is fueling the demand for non-dextran IV iron drugs. The benefits of dextran free IV iron drugs include safety, patients’ satisfactory response, improved efficacy, and higher compliance rate. Injectafer/Ferinject, Venofer, Monofer, FeraHeme, Ferrlecit, and Diafer are the popular dextran-free IV iron formulations generating millions of revenue for vendors. Vifor Pharma Group’s reported Ferinject sales of around $496 million 2018, indicating an increase of around 24% compared to the previous fiscal year. Injectafer/Ferinject contains ferric carboxymaltose, which is a stable complex and possesses very low immunogenic potential. Therefore, it does not pose the risk of anaphylactic reactions.
Commercial Availability of Branded Iron Therapeutics and Expanded Indication Approvals
The vendors are strategically focusing on the development and commercial launches of iron therapeutics for treating ID and IDA. New product approvals/launches coupled with RandD activities help vendors to expand their presence, enhance market growth, and sustain their market position in the market. In September 2018, Pharmacosmos’ Monoferric was approved in Canada for the treatment of IDA in patients who have intolerance or have had an unsatisfactory response to oral iron therapy. In addition to new product approvals, the market also witnessed expanded label approval for already approved iron therapeutics by various regulatory bodies globally. In March 2018, Shield Therapeutics expanded Feraccru label to all ID adults in the Europe region. As a result of these new product launches and expanded labels, vendors are expecting that their iron therapeutics sales volume is likely to increase in the coming years.
The other prominent vendors in the global IV and oral iron drugs industry are AMAG Pharmaceuticals, Akebia Therapeutics, Shield Therapeutics, Pharmacosmos, Allergan, Sanofi, and AOP Orphan Pharmaceuticals. Few other vendors in the market are Pfizer, Sunny Pharmaceutical, MEDICE, AZAD Pharma, Cirondrugs, and Salveo Lifecare.
The complete overview of the latest market research report on the global IV and oral iron drugs industry by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides market sizing and forecast for major geographical regions and key countries.
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods and retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
+1 302 469 0707
Aug 08, 2022
Endoscope Reprocessing: Growing Approvals of Automated Endoscope Reprocessing Revolutionising the Market
In 2021, automated endoscope reprocessing accounted for over 68% share of the global endoscope repro...
May 05, 2022
Water Softeners To be Sold More Through Offline Distribution Channels.
The rising demand for water treatment in countries such as China, India, and Singapore are expected ...
Apr 06, 2022
Are Hyper-converged & Converged Infrastructure The Future Of Data Center Network Market?
High adoption Of hyper-converged & converged infrastructure will fuel the demand for data center...