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Industry Insights, Market Size, CAGR, High-Level Analysis: Intravenous Iron Drugs MarketThe global intravenous iron drugs market size was estimated at USD 1.63 billion in 2018 and is anticipated to grow at a CAGR of 7.2% over the forecast period. Growing prevalence of chronic kidney disease, increasing number of patients undergoing dialysis, and rising geriatric population are the major factors driving the market. Furthermore, higher expenditure on medications, increasing investment in the healthcare sector, and rising cases of iron deficiency anemia are aiding in the market growth. Iron is one of the crucial components in the hemoglobin and plays an important role in the transportation of oxygen throughout the body. There have been several technological advancements in the intravenous (IV) iron drugs that increases their applications such as in kidney disease and inflammatory bowel disease. The development of these medications has led to improved functional capacity, increased hemoglobin levels, and restoration of iron in people suffering from iron deficiency anemia. Intravenous iron therapy is the preferred option for patients in whom oral absorption is seriously compromised due to illnesses or inability to swallow, oral administration is not tolerated, or there is a requirement of rapid improvement. Intravenous treatment is generally more costly than oral therapy and is unsuitable for the duration of the first trimester of pregnancy. Multiple side-effects related to these drugs and stringent regulations may pose as a major hindrance in the growth of the market. The approval processes and regulations for the use of IV iron drugs, established by the FDA and the European Medicines Agency are time taking and complex. Some of the major side-effects of these drugs include vomiting, muscle cramps, headache, cough, nausea, joint pain, constipation, and back pain. However, novel product development, growing trend of bundled payment systems, and increasing penetration in the gynecology market are expected to fuel growth of intravenous iron drug market throughout the forecast period. Furthermore, increasing need for preventing anemia in pregnant women as well as improving maternal and birth outcomes, rising number of diabetic patients in the global population, and growing awareness towards healthcare & personal care are anticipated to boost the market.
Products InsightsBased on products, the market is segmented into iron dextran, iron sucrose, ferric carboxymaltose, and other products. Among the products, the ferric carboxymaltose segment held the largest market share in 2018 and is projected to dominate the global IV iron drugs market during the forecast period due to its increasing application in drug discovery, superior performance, and reduced cost. This can also be attributed to the FDA approval of Injectafer in North America as well as its approval outside North America under the name Ferinject. The iron sucrose segment held the second largest market share in 2018, followed by other products such as ferric maltol and ferumoxytol. The market has witnessed several product launches worldwide in the recent times including Diafer and Feraccru. Although, treatment with iron dextran such as Infed and Cosmofer has been the mainstay for iron deficiency anemia since three decades, they are now facing stiff competition from cheaper generic alternatives post the patent expiry.
Application Insights of Intravenous Iron Drugs MarketBased on application, the IV iron drugs market has been segmented into chronic kidney disease (CKD), inflammatory bowel disease (IBD), cancer and other diseases. Among the applications, chronic kidney diseases accounted for the largest market share in 2018 due to rapidly increasing prevalence, growing geriatric population and the trend of inclination towards sedentary lifestyle. According to the U.S. Department of Health & Human Services, around 15% of people in the U.S. are estimated to be suffering from chronic kidney disease. There are several cases of iron deficiency in which intravenous drugs are preferred over oral pills. These IV iron drugs are used in cases where oral iron is not tolerated by the body, there is a requirement to rapidly increase the hemoglobin level, or there is a presence of underlying inflammation such as in inflammatory bowel disease or CKD patients. The cancer segment is expected to demonstrate the fastest growth during the forecast period due to very high incidence rate and increasing oncology cohort.
Regional Insights of Intravenous Iron Drugs MarketThe geographical analysis of intravenous iron drugs market divides it into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2018, North America accounted for the largest market share due to the increasing application of intravenous iron drugs in cancer research, increasing adoption of low cost & compact intravenous iron drugs in clinical diagnostics, and infrastructural development of research laboratories. Emerging markets such as Japan, China, South Korea, and India in the Asia Pacific region are expected to grow at a significant rate through the forecast period. This can be attributed to the increasing government investment in the biotechnology & biopharmaceutical industry, emergence of novel biologics, vaccines, & drugs, expanding medical treatment for infectious and chronic diseases, and huge number of investment opportunities in these markets.
Market Share Insights of Intravenous Iron Drugs MarketThe global market is highly competitive owing to emergence of new entrants in this industry and the presence of well established firms. The key participants operating in this space include Allergan, Inc.,Daiichi Sankyo Company, Ltd., Rockwell Medical Technologies, Inc., AMAG Pharmaceuticals. Inc., Sanofi, Fresenius Medical Care AG & Co., Vifor Pharma Management Ltd., Pharmacosmos A/S, Shield Therapeutics Plc, and American Regent. Inc. Daiichi Sankyo Company, AMAG Pharmaceuticals, Vifor Pharma, and Pharmacosmos held the large market shares in 2018 due to the presence of an extensive product portfolio and wide geographical presence. However, the companies are facing stiff competition as several branded intravenous drugs have lost patents and generics are available in the market at a cheaper price. Thus, companies are adopting various strategies such as new product development, mergers & acquisitions, strategic partnerships, and regional expansions to gain a competitive advantage.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Intravenous Iron Drugs Market Research ReportThis report forecasts revenue growth at global, regional, & country levels, and provides an analysis of the industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, this market research report has segmented the global intravenous iron drugs market report on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2019 - 2030)
- Iron Dextran
- Iron Sucrose
- Ferric Carboxymaltose
Application Outlook (Revenue, USD Million, 2019 - 2030)
- Chronic Kidney Disease
- Inflammatory Bowel Disease
- Other Diseases
Table of Content Chapter 1 Methodology and Scope 1.1 Market segmentation & scope 1.2 Market definition 1.3 Information procurement 1.4 Purchased database 1.5 GVR’s internal database 1.6 Secondary sources & third party perspectives 1.7 Primary research 1.8 Information analysis 1.9 Data analysis models 1.10 Market formulation & data visualization 1.11 Data validation & publishingChapter 2 Executiv | read more...