Global IV & Oral Iron Drugs Market Report 2024: Market to Reach $16.43 Billion by 2029

Research and Markets has released a report titled “Global IV & Oral Iron Drugs Market – Focused Insights 2024-2029” offering comprehensive analysis and forecasts for the IV and oral iron drugs market.

Market Overview: The global IV and oral iron drugs market, valued at $7.66 billion in 2023, is projected to experience robust growth, reaching $16.43 billion by 2029, with a notable compound annual growth rate (CAGR) of 13.47%. This surge is primarily driven by the increasing prevalence of Iron Deficiency (ID) and Iron Deficiency Anemia (IDA) globally, alongside heightened patient awareness regarding effective treatment options.

Key Growth Drivers:

• Prevalence of Chronic Diseases: Rising occurrence of chronic diseases like Chronic Kidney Disease (CKD), heart failure, gastrointestinal disorders, and cancer contribute to iron deficiency, particularly in surgical patients.
• Demand for Dextran-Free Iron Therapeutics: Growing demand for dextran-free iron therapeutics propels market growth.
• Innovations in IV & Oral Iron Drugs: Development of investigational latest generation IV & oral iron drugs with broader indications and improved treatment outcomes fuels market expansion.

Market Dynamics:

• Route of Administration: The intravenous iron segment, valued at $4.40 billion in 2023, is expected to witness significant growth due to expanded indication approval for existing brands and expected launch of branded IV iron drugs in new markets.
• Patient Group: The adult segment dominates the market, accounting for 83.33% in 2023, attributed to higher incidence/prevalence of ID and IDA among the elderly.
• Distribution Channel: Hospital pharmacies segment is poised for significant growth, offering cost-effective options with discounts and rebates.
• Application: Nephrology segment accounted for 60.84% in 2023, driven by increasing uptake of iron drugs to treat CKD.

Key Players:

• Market Dominance: CSL Vifor, Covis Pharmaceuticals, Daiichi Sankyo, Akebia Therapeutics, Shield Therapeutics are among the leading players dominating the market.
• Strategic Focus: Major players focus on strategic acquisitions and collaborations with emerging players to enter the IV & Oral Iron Drugs market and gain access to commercially launched products.

Market Structure: The report provides insights into market dynamics, competitive landscape, key vendors, and product segmentation & forecast, covering route of administration, patient group, distribution channel, and application.

Vendors List: Key vendors include CSL Vifor, Daiichi Sankyo, Covis Pharmaceuticals, Akebia Therapeutics, Shield Therapeutics, along with other prominent players such as Pharmacosmos, AbbVie, Sanofi, Pfizer, and more.

Conclusion: The global IV & Oral Iron Drugs market demonstrates significant growth potential driven by increasing prevalence of iron deficiency globally, rising demand for effective treatment options, and innovations in IV & oral iron drugs. Key players are strategically positioning themselves to capitalize on emerging opportunities and address evolving patient needs.

Source: PRNewswire

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