Intravenous Iron Drugs Market Size, Share & Trends Analysis Report By Product (Iron Sucrose, Iron Dextran, Ferric Carboxymaltose), By Application (Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global intravenous iron drugs market size was valued at USD 2.92 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.6% from 2023 to 2030. The increasing prevalence of chronic kidney disease, inflammatory bowel disease, and cancer, which are key target indications for IV iron usage, is one of the major factors for market growth. According to the Global Cancer Observatory, in 2020, there were around 50.5 million individuals with some form of cancer, and more than 19 million new cancer cases were reported annually. In addition, the advantages of IV drugs compared to oral drugs are also expected to drive market growth.

Furthermore, the increasing incidence of infectious diseases, including malaria, HIV/AIDS, TB, hepatitis, pneumonia, and influenza, is one of the major factors expected to boost the demand for intravenous drugs over the forecast period. According to WHO, in 2021, approximately 10.6 million people were diagnosed with TB, and 1.6 million TB-associated deaths were reported worldwide. Most of these cases were reported in low- and middle-income countries in Africa, Asia, and Latin America.

The superiority of IV iron treatment, comparable higher & faster absorption of intravenous drugs, lower adverse effects, and other advantages over oral drugs are increasing the adoption of IV iron drugs for the treatment of anemia and other target diseases. For instance, around 50% of patients having oral drugs complain of gastrointestinal adverse effects, which increased the adoption of intravenous formulations in the treatment process. Moreover, patients who have gastrointestinal bleeding or inflammatory bowel disease, patients undergoing kidney dialysis, and those with celiac disease are mostly treated with intravenous drugs.

The COVID-19 outbreak disrupted the manufacturing and supply of intravenous iron drugs, however, robust initiatives by manufacturers & governments to meet the demand supported the growth of the market. In addition, various studies have suggested that COVID-19 infection increased the risk of Acute Kidney Injury (AKI) and CKD, which, in turn, fueled the demand for intravenous drugs for the treatment of CKD-related anemia. According to a study published by the National Kidney Foundation, people hospitalized with COVID-19 are at significant risk of AKI. The study stated that patients hospitalized with COVID-19 were twice as likely to develop AKI as compared to non-COVID patients.

Moreover, during the COVID-19 pandemic, healthcare professionals and patients were adopting teleconsultations instead of physical visits to healthcare facilities. High penetration of telemedicine increased the prescription rate of oral drugs for patients having anemia and iron deficiency during the pandemic, as intravenous drug administration is performed by doctors at healthcare facilities, and it was not feasible during the pandemic.

Products Insights

Based on product, the intravenous (IV) iron drugs market is segmented into iron dextran, iron sucrose, ferric carboxymaltose, and others. The ferric carboxymaltose segment dominated with a revenue share of 47.3% in 2022. In addition, its beneficial features and limited adverse effects as compared to other products are contributing to segment growth. The significant growth can also be attributed to the FDA approval of Injectafer in North America and its approval outside North America under the trade name Ferinject.Moreover, in November 2022, CSL Vifor and Fresenius Kabi received China’s National Medical Products Administration approval for Ferinject. As of now, Ferinject has received market approvals in 85 countries across the globe.

The others segment, which includes iron isomaltoside, ferric gluconate, ferric pyrophosphate citrate, and ferumoxytol drugs is expected to grow at the fastest CAGR over the forecast period. Key players are increasing their market footprint by expanding the geographical presence of IV drugs across the globe. For instance, in January 2020, Pharmacosmos Therapeutics Inc. received U.S. FDA approval for its ferric derisomaltose injection for the treatment of iron deficiency anemia in adult patients. It is recommended for patients who have unsatisfactory responses or intolerance to oral drugs or those who have non-hemodialysis-dependent CKD.

Application Insights

Based on application, the market is 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 of 33.2% in 2022 due to the wide use of IV products to treat CKD-induced anemia. Increased approval of IV drugs for CKD is also another factor driving segment growth. IV product is the standard treatment for patients with dialysis and nondialysis-associated CKD. Moreover, increasing recommendations to use IV drugs over oral drugs in the treatment of CKD is further supporting segment growth.

The others segment, which includes women’s health, celiac disease, and chronic heart failure is expected to grow at the fastest CAGR over the forecast period.Increasing research activities related to different target diseases induced iron deficiency and anemia are expected to drive the segment growth over the forecast period. For instance, in November 2022, NIH-funded researchers announced a plan to launch a large study to evaluate IV iron treatment for women who develop anemia after giving birth. Researchers will enroll 5,000 women in developing countries such as India, Pakistan, Bangladesh, and some African countries.

Regional Insights

North America accounted for the largest market share of 51.01% in 2022 primarily due to the increasing approvals and launch of new IV drugs in the U.S. For instance, in December 2021, American Regent, Inc. and Daiichi Sankyo, Inc. disclosed that the U.S. FDA granted approval for Injectafer for pediatric patients with Iron Deficiency Anemia (IDA) who are insensitive to oral iron or who have exhibited an inadequate response to receiving oral iron.

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 geographic expansion of important players in Asia Pacific nations, as well as the growing government initiatives and development of healthcare infrastructure. In addition, the high incidence of IDA in developing nations like China and India has aided market growth.

Key Companies & Market Share Insights

The global intravenous iron drugs market is highly competitive with mature players focusing on collaborations & partnerships, product launches, and emerging players focusing on expanding their presence by diversifying their product portfolios. For instance, in March 2023, Pharmacosmos A/S announced that MonoVer (ferric derisomaltose) received national coverage in Japan and is being introduced in the third-largest pharmaceutical market in the world. When oral formulations are inefficient or cannot be used, or when there is a clinical need to deliver iron quickly, MonoVer, an IV iron drug, can be prescribed in Japan to treat Iron Deficiency Anemia (IDA). Some prominent players in the global intravenous iron drugs market include:

• AbbVie Inc.

• AMAG Pharmaceuticals (Covis Pharma)

• Daiichi Sankyo Company, Ltd.

• Sanofi

• Vifor Pharma Management Ltd. (CSL)

• PHARMACOSMOS A/S

• Zydus Group

Intravenous Iron Drugs Market Report Scope

Global Intravenous Iron Drugs Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global intravenous iron drugs market report based on product, application, and region:

• Product Outlook (Revenue, USD Billion, 2018 - 2030)

  • Iron Dextran

  • Iron Sucrose

  • Ferric Carboxymaltose

  • Others

• Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Chronic Kidney Disease

  • Inflammatory Bowel Disease

  • Cancer

  • Other Diseases

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait