The Global Iron Deficiency Injectable Market size in 2023 is USD 12.14 billion. The market share is projected to grow at a CAGR of 9.20% and reach USD 24.55 billion by 2031.
Global Iron Deficiency Injectable Market - Industry Overview
Iron deficiency arises when the body lacks enough iron to produce hemoglobin, leading to iron deficiency anemia. Symptoms include fatigue, weakness, pale skin, shortness of breath, and dizziness. The global iron deficiency injectable market is experiencing significant growth driven by rising cases of anemia worldwide, especially in regions with limited access to oral iron supplements. According to the World Health Organization (WHO), anemia affects 1.62 billion people corresponding to 24.8% of the population. Worldwide fueling the demand for effective and rapid treatment options such as injectable iron.
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Global Iron Deficiency Injectable Market Size
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Global Vaccine Administration Devices Report Metric Details
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Year
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2022 (Customizable 2016-2021)
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Measuring Unit
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USD Billion
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Data Pointers
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Market value, growth rate, market segments, geographical coverage, market players, and market scenario, in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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With advancements in injectable iron formulations, such as ferric carboxymaltose and iron isomaltoside, the Iron Deficiency Injectable is experiencing increased acceptance due to enhanced safety profiles, higher bioavailability, and simplicity of administration. Such variables, together with rising healthcare expenditure and higher awareness of anemia's health consequences, are likely to drive Global Iron Deficiency Injectable Market growth. As a result, Databridge Market Research dived into comprehensively analyzing the market and unveiled that the Global Iron Deficiency Injectable Market is increasing at a CAGR of 9.20%. Our detailed analysis forecasts that the market is valued at USD 12.14 billion in 2023 and is expected to grow upto USD 24.55 billion by 2031. Our meticulously created report, developed through comprehensive research and analytics, is a distinguished paper that unveils eye-opening data about the market.
Global Iron Deficiency Injectable Market Dynamics
Global Iron Deficiency Injectable Market Growth Drivers
Prevalence of PCOS
According to the World Health Organization (WHO), PCOS affects an estimated 8–13% of women of reproductive age, translating to between 5% and 10% of women aged 15 to 44. Women with PCOS are more likely to develop iron deficiency anemia due to irregular menstrual cycles, which can cause excessive blood loss and chronic iron depletion. The growing awareness and diagnosis of PCOS, along with the rising prevalence of iron deficiency among affected women, contribute to the global iron deficiency injectable market growth.
Increasing prevalence of anemia
The increasing prevalence of anemia is a key growth factor for the worldwide iron deficiency injectable market. With anemia impacting 1.62 billion people, or 24.8% of the global population, there is an increasing demand for efficient and effective treatment alternatives. Injectable iron therapy have emerged as an important respond to, especially in areas where oral iron supplements are either unavailable, poorly tolerated, or inefficient. As awareness of anemia's widespread impact rises, healthcare practitioners are increasingly turning to injectable iron as a quick, dependable, and scalable therapy option, considerably contributing to Global Iron Deficiency Injectable market growth.
Global Iron Deficiency Injectable Market Growth Opportunities
Advancements in Injectable Iron Formulations
The introduction of newer formulations, such as ferric carboxymaltose and iron isomaltoside, have transformed treatment by providing superior safety and efficacy profiles compared to traditional oral supplements. For instance, ferric carboxymaltose enables for the administration of greater single doses of iron, up to 1,000 mg, in just 15 minutes, making it useful for patients with acute iron shortage who require immediate replenishment. Such formulations have improved patient outcomes and lowered side effects thus contributing to the Global Iron Deficiency Injectable Market growth.
Growing Pediatric and Geriatric Care Markets
Injectable iron is crucial for managing severe anemia in children who cannot benefit from oral supplements, especially in high-malnutrition regions, with tailored formulations enhancing treatment efficacy. Similarly, it offers a vital solution for elderly patients with absorption issues due to chronic conditions, improving management and quality of life. By addressing the unique needs of diverse age groups, the Global Iron Deficiency Injectable market can expand and provide effective solutions across diverse populations.
Global Iron Deficiency Injectable Market Growth Challenges
Risk of Adverse Reactions
Allergic reactions, including mild symptoms like rashes and itching to severe responses such as anaphylaxis, affect patients receiving intravenous iron. Local injection site reactions, such as discomfort, swelling, and redness, might impair patient comfort and adherence, limiting therapy acceptability. Additionally, long-term safety concerns concerning repeated injectable iron treatments include potential effects on organ systems, such as the liver, which necessitate continual monitoring to avoid iron overload and accompanying consequences. Consequently, posing a challenge for Global Iron Deficiency Injectable Market growth.
Lack of Patient Awareness
Patients often lack knowledge about the advantages of injectable iron over oral supplements, such as more rapid and effective treatment for severe anemia. For instance, injectable formulations like ferric carboxymaltose can deliver up to 1,000 mg of iron in a single dose, which is crucial for managing severe anemia where oral supplements may require extended periods to be effective. This lack of specific knowledge can lead to underutilization of injectable iron therapies, resulting in hindering Global Iron Deficiency Injectable Market growth.
Global Iron Deficiency Injectable Market Restraints
Regulatory and market approval hurdles
The complex regulatory landscapes across different regions can create significant barriers for the Global Iron Deficiency Injectable Market Growth. For instance, The Pharmaceuticals and Medical Devices Agency (PMDA) Regulations, Japan requires foreign companies to conduct additional clinical trials in Japan to verify the safety and efficacy of new injectable iron therapies within the Japanese population. These trials must adhere to Japanese Good Clinical Practice (GCP) guidelines. Such guidelines can significantly impact the timeline and cost for introducing new injectable iron therapies to these Iron Deficiency Injectable Market.
Global Iron Deficiency Injectable Market Scope and Trends
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Global Iron Deficiency Injectable Market Segmentations Overview
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Market
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Sub-Segments
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Products
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Iron Dextran, Iron Sucrose, Ferric Carboxymaltose, Others
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Application
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Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, Others
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End User
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Hospitals, Homecare, Specialty Clinics, Others
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Distribution Channel
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Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
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Type
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Oral Iron Therapy, Parenteral Iron Therapy, Red Blood Cell Transfusion, Others
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Age
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Adults, Pediatric, Geriatric
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Indication
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Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer, Others
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- Iron supplementation boosts RSL3-induced ferroptosis to both treat naïve prostate cancer and prevent castration-resistant prostate cancer.
- Ferric carboxymaltose (FCM), an injection utilized globally for treating iron deficiency in cancer and chronic kidney disease patients, has been shown by AIIMS doctors to be both effective and safe for pregnant women with moderate to severe anemia.
- Newer formulations, like iron isomaltoside 1000, have been shown to have fewer adverse reactions compared to older products, such as dextran-based irons, thereby broadening their use to more patients with varying health conditions.
- The Feraheme (ferumoxytol) auto-injector is designed to make at-home administration more accessible and less painful for patients.
Global Iron Deficiency Injectable Market Regional Analysis – Market Trends
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Global Iron Deficiency Injectable Market Regional Overview
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Region
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Countries
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Europe
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Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe
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APAC
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific
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North America
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U.S., Canada, and Mexico
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MEA
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Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East, and Africa
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South America
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Brazil, Argentina, and Rest of South America
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Key Insights
- The U.S. and Canada are leading markets for iron deficiency injectables, driven by advanced healthcare systems and high iron deficiency rates. The U.S., in particular, sees significant use of products like ferric carboxymaltose and iron isomaltoside due to their effectiveness and convenience in treating severe anemia.
- Asia-Pacific region is experiencing rapid growth in the iron deficiency injectable market, with significant contributions from countries Such as China and India. Rising healthcare investments and increasing prevalence of iron deficiency anemia drive demand. In China, the use of injectable iron is expanding as part of the country’s broader efforts to address anemia, supported by government healthcare initiatives and growing awareness.
- European region benefits from well-established healthcare systems and regulatory frameworks that support the use of injectable iron therapies. In Germany, for instance, the availability of advanced injectable formulations aligns with the country’s high standards for patient care and treatment efficacy.
Leading Players in the Global Iron Deficiency Injectable Market
- AbbVie Inc. (U.S.)
- Covis Pharma GmbH (U.S.)
- DAIICHI SANKYO COMPANY, LIMITED (Japan)
- Fresenius Kabi AG (Germany)
- Vifor Pharma Management Ltd.(Switzerland)
- PHARMACOSMOS A/S (Denmark)
- Shield Therapeutics plc (U.K.)
- American Regent, Inc. (U.S.)
- Rockwell Medical, Inc. (U.S.)
- Apotex Inc (Canada)
- Bayer AG (Germany)
- Akebia Therapeutics, Inc. (U.S.)
- GSK plc (U.K.)
- Novartis AG (Switzerland)
- Aetna Inc.(U.S.)
- Pfizer Inc (U.S.)
- Systacare Remedies (India)
- BSA Pharma Inc. (India)
Global Iron Deficiency Injectable Market Recent Developments
- In March, 2024 Cadila Pharmaceuticals launches an iron injectable to treat anaemia. Redshot injection is an intravenous iron preparation with greater tolerability and little to no risk of allergy, the injection speeds haemoglobin level improvement while rapidly replenishing depleted iron stores.
- In May, 2023, Emcure Pharmaceuticals by launching Orofer FCM 750 becomes the first Indian company to launch a 750mg injectable version of FCM to treat iron deficiency anemia.
- In May, 2024 Indian medical scientists at AIIMS Delhi have developed a cheap one-shot intravenous (IV) iron injection that has no side effects, a potential health aid in a country with some of the world's highest iron deficiency rates.
- In June, 2023, The FDA has approved ferric carboxymaltose injection for treating iron deficiency in adult patients with heart failure classified as New York Heart Association (NYHA) class 2 or 3, with the aim of enhancing exercise capacity.
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