Intravenous Iron Therapy Market Segmented By therapy type such as Iron sucrose, Ferric Gluconate, Ferric Carboxymaltose, Ferumoxytol in Hospital Pharmacies, Retail Pharmacies, Online Pharmacies distribution channel
Industry: Healthcare
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP27787
Iron is considered as an essential element which plays an important role in many vital biological processes such as the formation of myoglobin, neurotransmitter production, energy metabolism, the formation of collagen and immune system function, and others.
Over a decade, iron has been used to treat anemia in a simple and inexpensive way as iron deficiency is the most common cause of anemia globally. Intravenous iron therapy is used to treat anemia. Intravenous iron is delivered into the vein through a needle to increase the levels of iron and hemoglobin in the body.
It is also observed that intravenous iron therapy is usually preferred over oral iron therapy. This is majorly due to the advantages of intravenous iron therapy, such as faster and higher increase in hemoglobin (Hb) levels and replenishment of body iron stores. For such advantages, intravenous iron therapy is emerging as a safe and effective alternative for iron deficiency anemia (IDA) management.
Intravenous iron therapy is generally recommended for those patients who are unable to tolerate gastrointestinal side effects of oral iron therapy. As intravenous iron therapy has the potential to cause allergic reactions including life-threatening anaphylaxis.
It is also believed that intravenous iron therapy should be administered by trained professional in order to manage extremely rare but potentially life-threatening adverse events.
The increasing prevalence of iron deficiency and anemia is mainly responsible for driving the growth of the global intravenous iron therapy market. The treatment and prevention of iron deficiency are considered as a major public health goal, especially in low-income countries.
Intravenous iron therapy reduces the use of blood transfusion which avoids the transfusion-associated risks and drives patient interest for adopting intravenous iron therapy. However, due to the risk of life-threatening allergic reactions, intravenous iron therapy is considered dangerous which reduces the intravenous iron therapy adoption.
This further reduces the revenue growth of the global intravenous iron therapy market. Presence of alternative therapies might reduce the adoption of intravenous iron therapy due to factors like costs, and acuity of anemia.
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North America and Europe intravenous iron therapy market are collectively expected to hold maximum market share in the global intravenous iron therapy market. This is majorly due to the presence of high-quality healthcare infrastructure, and the high prevalence of iron deficiency. Asia Pacific intravenous iron therapy market is expected to witness rapid growth due to the lucrative opportunities for emerging players.
However, it is observed that due to lack of awareness and healthcare facilities in the low middle-income courtiers there is the significant reduction in the demand of intravenous iron therapy, which is expected to deter the growth of intravenous iron therapy market in low-income countries.
The key players present in the global intravenous iron therapy market are American Regent, Inc., AMAG Pharmaceuticals, Inc, Fresenius Medical Care, Actavis Pharma, Inc., Sanofi S.A., and others. Many players in the intravenous iron therapy market focus on mergers and acquisitions as their major strategy for the growth of the product line in the intravenous iron therapy market.
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