Global IV & Oral Iron Drugs Market Report 2024: Market to Reach $16.43 Billion by 2029 with CSL Vifor, Covis Pharmaceuticals, Daiichi Sankyo, Akebia Therapeutics, Shield Therapeutics Dominating

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Feb 09, 2024, 22:00 ET

DUBLIN, Feb. 9, 2024 /PRNewswire/ -- The "Global IV & Oral Iron Drugs Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The global IV and Oral Iron Drugs market, valued at $7.66 billion in 2023, will experience robust growth by 2029, expanding at a CAGR of 13.47%

This surge is primarily driven by the increasing prevalence of Iron Deficiency (ID) and Iron Deficiency Anemia (IDA) globally, coupled with a heightened awareness among patients about effective treatment options. The market's expansion is further propelled by the rising occurrence of chronic diseases such as Chronic Kidney Disease (CKD), heart failure, gastrointestinal disorders, and cancer, which can lead to iron deficiency, particularly in surgical patients.

Key factors fueling market growth include the growing demand for dextran-free iron therapeutics and the rising need for iron drugs among dialysis and non-dialysis kidney patients. The market also benefits from the development of investigational latest generation IV & oral iron drugs with broader indications and improved treatment outcomes.

Market leaders like Vifor Pharma are significantly contributing with products such as Ferinject (marketed as Injectafer in the US) and Venofer, which are gaining traction, especially among dialysis patients. The oral iron drug segment, comprising both prescription and OTC preparations, is expanding steadily, although slower than IV iron drugs, with significant growth in emerging and low-income countries due to their cost-effectiveness.

The market's growth is not just confined to developed nations; it's also significant in developing countries across Asia, Africa, and Latin America, where iron deficiency poses a severe health challenge. This growth is further augmented by innovations in hospital pharmacy practice and retail store involvement, facilitating accessibility and awareness among consumers.

The hospital pharmacies segment is expected to grow due to their specialized services in iron medicines. At the same time, retail stores continue to play a crucial role due to immediate product availability and expert guidance. The prevalence of iron deficiency in CKD patients, which is estimated to be around 70%, highlights the critical need for iron therapy with IV and oral iron drugs.

As the global IV & oral iron drugs market evolves, key vendors like Vifor Pharma, Daiichi Sankyo Group, AMAG Pharmaceuticals, and others focus on product innovations and expanded label approvals to meet the growing demands and adapt to new patient groups. The market, characterized by the presence of global, regional, and local players, is highly competitive with a wide array of branded and generic drug offerings.

KEY HIGHLIGHTS:

The IV & oral iron drugs market represents a rapidly growing and most effective category of therapeutics that helps individuals with ID & IDA to improve their quality of life.
By route of administration, the intravenous (IV) segment was valued at $4.40 billion in 2023. This growth mainly results from the expected launch of branded IV iron drugs in new markets and expanded indication approval for existing commercially available brands. One of the primary reasons for this significant growth rate is the increased uptake of branded IV drugs in the US and European markets.
By patient group, the adult segment is going to witness notable growth during the forecast period. In 2023, the adult segment accounted for 83.33% of the global IV & oral iron drugs market. The segment is dominating the market due to the higher incidence/ prevalence of ID and IDA among elderly people across the world.
By distribution channel, the hospital pharmacies segment is expected to grow at a significant CAGR. Hospital pharmacies offer iron drugs with adequate discounts and rebates. Thus offering a cost-effective way to minimize the burden on patients and healthcare systems.
By application, In 2023, the nephrology segment accounted for 60.84% of the global IV & oral iron drugs market. The market for iron drugs in nephrology is increasing faster, and the trend is likely to continue during the forecast period due to the rising prevalence of CKD worldwide. The segment accounted for the largest market share owing to the increasing uptake of iron drugs to treat CKD.
CSL Vifor, Covis Pharmaceuticals, Daiichi Sankyo, Akebia Therapeutics, Shield Therapeutics, and others are some of the leading players currently dominating the global IV & Oral iron drugs market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the IV & Oral Iron Drugs market and to gain access to commercially launched products.

MARKET STRUCTURE

Market Dynamics
Competitive Landscape of IV & Oral Iron Drugs Market
Key Vendors
Other Prominent Vendors

VENDORS LIST

Key Vendors

CSL Vifor
Daiichi Sankyo
Covis Pharmaceuticals
Akebia Therapeutics
Shield Therapeutics

Other Prominent Vendors

Pharmacosmos
AbbVie
Sanofi
AOP Orphan Pharmaceuticals
Azad Pharmaceuticals
Pfizer
Ciron Drugs & Pharmaceuticals
Rockwell Medical
Salveo Lifecare
Sunny Pharmaceuticals
Zydus LifeSciences
Nippon Shinyaku
Alinter Group
Alora Pharmaceuticals
DSE Healthcare
GSK plc

PRODUCT SEGMENTATION & FORECAST

Route of Administration

Intravenous
Oral

Patient Group

Adults
Pediatrics

Distribution Channel

Hospital Pharmacies
Offline Retail Pharmacies
Online Channels

Application

Nephrology
Obstetrics & Gynaecology
Surgery
Gastroenterology
Oncology
Heart Failure

For more information about this report visit https://www.researchandmarkets.com/r/tu64vd

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