Intravenous Iron Drugs Market is driven by The Rise in The Incidence of Chronic Kidney Disease Globally

Intravenous Iron Drugs Industry Overview

The global intravenous iron drugs market size is expected to reach USD 4.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.5% from 2021 to 2028. The introduction of novel formulations with expanded indications, increasing R&D activities, and rising awareness for diagnosis and treatment of anemia is expected to propel market demand over the forecast period.

The increase in the prevalence of chronic diseases, such as chronic kidney disease, cancer, inflammatory bowel diseases, diabetes, and acute and chronic infections, has been a major market driver facilitating a significant demand for intravenous iron drugs. According to the Globol can estimates, in 2020, around 19,292,789 new cases of cancer were diagnosed globally, which lead to around 9,958,133 deaths in the same year. According to the data published by the CDC, in 2019, an estimated 15% of U.S. adults, or around 37 million adults, are suffering from chronic kidney disease (CKD). The same source also stated that diabetes and high blood pressure are the major causes of CKD in adults, and CKD is more common in people aged 65 years or older. The rise in the incidence of chronic kidney disease globally, due to unhealthy lifestyles, has been a major growth factor for the market.

Intravenous Iron Drugs Market Segmentation

Grand View Research has segmented the global intravenous iron drugs market on the basis of product, application, and region:

Based on the Product Insights, the market is segmented into Iron Dextran, Iron Sucrose, Ferric Carboxymaltose, and Others

• The Ferric Carboxymaltose (FCM) segment dominated the market for intravenous iron drugs and held the largest revenue share of 46.9% in 2020 and is predicted to hold its dominance during the forecast period due to its increasing application, superior performance, and reduced cost.
• The others segment is anticipated to show significant growth over the forecast period, owing to the introduction of new iron drug formulations.

Based on the Application Insights, the market is segmented into Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, and Others

• The chronic kidney disease segment dominated the market for intravenous iron drugs and held the largest revenue share of 30.8% in 2020.
• The cancer segment is anticipated to witness the fastest CAGR over the forecast period owing to the high incidence of cancer and subsequent rise in the number of IDA cases.

Intravenous Iron Drugs Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Companies Profile & Market Share Insights

The market for intravenous iron drugs is highly competitive owing to the presence of many global players. Market participants such as Daiichi Sankyo Company, Ltd. and Vifor Pharma Management Ltd. accounted for the majority of market revenue share in 2020. They adopt different growth strategies such as new product development and expansion of geographical reach, to capture larger shares in the market.

Some prominent players in the global Intravenous Iron Drugs market include:

• Vifor Pharma Management Ltd.
• AMAG Pharmaceuticals
• Daiichi Sankyo Company, Ltd. (American Regent. Inc.)
• Sanofi S.A.
• Pharmacosmos A/S
• Shield Therapeutics Plc
• AbbVie Inc. (Allergan Plc)

Order a free sample PDF of the Intravenous Iron Drugs Market Intelligence Study, published by Grand View Research.