Iron Deficiency Anemia Therapy Market Size, Share & Trends Analysis Report By Therapy Type (Oral Iron Therapy, Parenteral Iron Therapy), By Age Group, By End-user, By Region, And Segment Forecasts, 2023 To 2030

The growth of iron deficiency anemia (IDA) therapy market can be attributed to the increasing prevalence of disease due to the insufficient iron consumption, blood loss, an inability of the patient's body to absorb iron, and comorbid conditions among others. Women, infants, children, vegetarians, and frequent blood donors are more susceptible to IDA. However, rising awareness for women's nutritional health, advancing parenteral nutrition supplements, and novel product launches are some of the key driving factors to fuel the global iron deficiency anemia market growth. For instance, in July 2021, Sandoz launched a cost-effective Ferumoxytol injection, the first generic intravenous high-dosage iron for treating IDA and CKD in the U.S.

A complete blood count test is mainly carried out to diagnose the anemia. IDA can be treated with a proper diet, including red meat, ferrous-rich vegetables, nuts, ferrous supplements, and vitamin C. Moreover, the growing R&D activities in advancing oral iron supplements, increasing incidence of IDA in low-and middle-income countries, increasing incidence of targeted diseases like cancer, increased risk of hemodilution, and growing geriatric population are expected to drive the market growth over the forecast period. 

Moreover, the prevalence of IDA with low hemoglobin among the female population was observed during the COVID-19 pandemic. For instance, according to the NCBI research study published in January 2021, around 61% of the sample population was identified with anemia, and female population showed low hemoglobin content compared to the males. Consequently, it is anticipated that the increased prevalence of IDA in females would raise the demand for iron anemia therapy, which will favorably affect the market.

However, the side effects associated with the deficiency of anemia therapy and ferrous-rich supplements can hamper the market growth in the coming years. Supplements containing ferrous may cause digestive issues such as nausea, vomiting, stomach ache, and minor appetite issues. Moreover, the uptake of oral iron drugs in IBD patients can be reduced due to complications associated with oral iron drugs during the treatment of IBD-induced anemia. Along with this, the overdose of the medications can lead to symptoms such as high breathing issues, weakness, blue coloration of the skin, and pale color of nails. This can hinder market growth. 

The market is segmented upon the therapy type, age group, end user, and region. Based on the regional analysis, North America dominates the IDA market due to well established healthcare infrastructure, increasing awareness among people, and favorable initiatives undertaken by government bodies. Increasing R&D activities with better research facilities is also a major driving factor in the region. Moreover, the major nutrition & supplements industry also makes the region dominate the IDA market. However, due to the Asia Pacific region’s growing population, rising healthcare expenditures, government measures to strengthen the healthcare industry, and increased demand for IDA treatment; Asia Pacific is anticipated to expand at the fastest rate over the projected period.

Iron Deficiency Anemia Therapy Market Segmentation

Major companies operating in the iron deficiency anemia market include Akebia Therapeutics, Inc., AdvaCare Pharma, Apotex Inc., Covis Pharma GmbH, Bayer AG, PHARMACOSMOS A/S, Sanofi, Johnson & Johnson Services, Inc., CSL Vifor, AbbVie Inc. (Allergan), Teoxane, Zydus Group., GSK plc, and Novartis AG among others. The industry leaders are involved in collaboration & acquisitions for enhancing their product portfolio. For instance, in March 2021, Akebia Therapeutics, Inc. collaborated with Japan Tobacco Inc. (JT). The company received approval from Japan’s PMDA for the expanded use of Riona (ferric citrate hydrate) in the country to treat adult patients with IDA.