Fort Collins, Colorado, Dec. 05, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The Intravenous (IV) Iron Formulations Market size was valued at USD 3.1 Billion in 2022 and is expected to exhibit a CAGR of 7.6% to reach USD 6.4 Billion by 2032.
IV iron formulations are in demand due to their safety, efficacy, faster absorption, less adverse effects, and higher bioavailability. They are administered directly into the bloodstream and are used to treat conditions such as chronic kidney disease, cancer, and inflammatory bowel disease.
These diseases cause less iron absorption through the oral route, increasing the demand for intravenous iron formulations. Chronic kidney disease affects over 10% of the global population, which amounts to more than 800 million individuals.
Anemia in women, cardiovascular diseases, and chronic kidney disorders are on the rise, creating opportunities for IV iron formulations. Increased cancer cases also present a scope for R&D in this area. Awareness campaigns can help expand the market to emerging economies with higher rates of iron deficiency anemia.
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Segmentation Overview:
The global intravenous (IV) iron formulations market has been segmented into product, application, and region. Ferric carboxymaltose is the leading drug on the market and is safe for late pregnancy and heart failure patients. Its dominance is due to its safety and efficacy. IV iron formulations for chronic kidney disease also dominate the market.
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Intravenous (IV) Iron Formulations Market Report Highlights:
- The global intravenous (IV) iron formulations market growth is anticipated at a CAGR of 7.6% by 2032.
- IV iron formulations are in demand due to their faster absorption and safety, used to treat chronic conditions like kidney disease and cancer.
- North America leads the market due to continuous drug development and USFDA approval, such as the approval of Injectafer for treating iron deficiency in adult patients with heart failure.
- Some prominent players in the intravenous (IV) iron formulations market report include Zydus group, AbbVie Inc., Sanofi, Daiichi Sankyo Company Ltd, AMAG Pharmaceuticals (Covis Pharma), Vifor Pharma Management Ltd (CSL), Pharmacosmos A/S
Industry Trends and Insights:
- Zydus Lifesciences acquired LiqMeds Group for £68 million.
- Sanofi completed its deal with Janssen Pharmaceuticals for ExPEC9V, a vaccine candidate for extraintestinal pathogenic E. coli.
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Intravenous (IV) Iron Formulations Market Segmentation:
By Product: Dextran, Iron Sucrose, Ferric Carboxymaltose, Others
By Application: Chronic Kidney Diseases, Inflammatory Bowel Disease
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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