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Iron deficiency anemia is one of the most common forms of anemia, in which the which blood lacks adequate healthy red blood cells. The symptoms of the iron deficiency anemia may be mild at the initial stages of the disease and many individuals do not even realize that they have the disease. Some of the symptoms of the disease includes dizziness, shortness of breath, general fatigue, weakness, and pale skin. Some of the causes of the iron deficiency anemia includes inadequate iron intake, pregnancy, inability of absorption of iron, and endometriosis. Iron deficiency anemia is often diagnosed after a complete blood count (CBC) test. For the treatment of this disease, healthcare professionals often administer iron supplements (oral and parenteral), and also suggest dietary changes.
The iron deficiency anemia therapy market is expected to account for a strong growth rate during the forecast period due to factors such rising female population, growing incidence of anemia in women, increase in the technological advancements of the therapeutics, and growing awareness regarding women health. However, the lack of adequate testing in the developing regions coupled with some adverse reactions attributed to iron supplements are some of the major factors likely to restrict the growth of iron deficiency anemia therapy market.
Key Market Driver -
Strong Prevalence of Iron Deficiency Anemia Coupled with Strong Demand for Treatment
Key Market Restraint -
Adverse Reactions of Iron Deficiency Anemia Therapy
Globally, the iron deficiency anemia therapy market can be segmented on the basis of the therapy type, end user, and region. Based on the therapy type, the market can be segmented into oral iron therapy, parenteral iron therapy, red blood cell transfusion, and others. Based on end user, the market can be segmented into hospitals, clinics, and homecare settings. Geographically, the iron deficiency anemia therapy market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the iron deficiency anemia therapy market are Sanofi S.A., Allergan (AbbVie), PHARMACOSMOS A/S, Pieris, AMAG Pharmaceuticals, Bayer AG, Apotex Inc., Acceleron Pharma, Inc., and other prominent players.
Geographically, the iron deficiency anemia therapy market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to account for maximum share of the iron deficiency anemia therapy market. The dominance of this region can be credited to the factors such as high awareness with respect to women health, strong testing numbers amongst women, and technological advancements in iron deficiency anemia therapy. For instance, according to the National Center for Biotechnology Information (NCBI), in 2016, the prevalence of anemia in the United States was 5.6% while this measurement excluded pregnant women. Europe is expected to hold the second largest market share in global market. High demand for iron supplements, growing awareness about iron deficiency anemia therapy, and strong number of women in the populace are primarily responsible the market expansion in Europe. On the other hand, the market in Asia Pacific is expected to grow with the highest CAGR owing to the growing awareness among the population regarding women health and improving healthcare infrastructure. Latin America and the Middle East & Africa are projected to account for comparatively lower market shares and growth rates. However, growing awareness coupled with growing demand for treatment of iron deficiency anemia in these regions are likely to aid the market growth in the upcoming years.
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