Visiongain has published a new report on Anemia Treatment Market Report to 2031: Forecasts By Anemia Type (Iron Deficiency Anemia, Hemolytic Anemia, Sickle Cell Anemia, Pernicious Anemia, and Thalassemia Anemia), By Drug Type (Bone Marrow Stimulants, Gene Therapy, Iron Chelating Agents, Corticosteroids, Supplements, and Immunotherapy), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Online Pharmacies) PLUS COVID-19 Recovery Scenarios.
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COVID-19 Impact on Anemia Market
The COVID-19 pandemic has deleteriously affected all the countries and industries. Similarly, the acute anemia market is anticipated to take a hit. The target industry is now facing challenges to manage the interrupted demand and supply of components. Also, unpredictable and disturbing supply chain activities and the unavailability of human resources are anticipated to impact the target industry growth. In contrast, the rising research & development activities for developing novel treatments against COVID-19 is creating a lucrative opportunity for the companies. Hence, the overall COVID-19 impact is expected to continue to moderate for the global key players operating in the industry.
Market Drivers
Growing Iron Deficiency Rate Among Population
According to the World Health Organization, nearly 56% of individuals were affected by anemia in 2018 globally. Anemia can be successfully cured with appropriate treatments. Nutritional deficiency is among the population is the key factor driving the global anemia treatment market. As per the WHO, approximately 50% of anemic cases are triggered by iron deficiency owing to the low iron consumption. Rising baby thriving population and growing chronic disorders are boosting the growth of the global anemia treatment market. An inappropriate dietary intake in low-and-middle-income countries also further propelling the target industry.
According to the World Bank, it is the 8th prominent illness affecting young girls and women. Numerous government initiatives for refining the healthcare infrastructure in emerging countries are also projected to fuel the anemia treatment market in the given assessed period. The constant research & development activities associated with anemia drugs and growing awareness about anemia in emerging and undeveloped countries are creating lucrative opportunities for the anemia treatment market shortly.
Rising Cases of Sickle-cell Anemia
Growing cases of sickle cell anemia in the underdeveloped economies are adding further demand for the anemia treatment. Besides, the accessibility of high unmet requirements, the growing drug pipeline to treat sickle cell anemia is anticipated to generate high demand for these treatments. increasing governments and regulatory bodies' support in the research & development venture, fast track endorsement for newer treatments for this disorder is further fueling the target industry growth.
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Market Opportunities
Potential Market Growth in Emerging Countries
More than 50% of women at pregnancy age in India and other developing countries suffer from anemia. Anemia is related to a major risk of maternal deaths, premature delivery, and increased tiredness, which disturbs the productivity of women's work. The World Health Organization (WHO) suggested regular oral administration of folic acid (IFA) and iron throughout pregnancy and weekly administration of dietary supplementation for females of childbearing age. For over four decades, government programs and NGOs have distributed and encouraged IFA supplements in India and in several other countries that are engaged globally to protect females from iron deficiency anemia.
Competitive Landscape
Key players operating in the global Anemia market are ViforPharma Ltd., Sanofi, Novartis AG, ABBVIE INC., Lupin, Akebia Therapeutics, INC., AMAG Pharmaceuticals, Fresenius SE & CO. KGAA, CHO-A Pharmaceutical CO., LTD., Orion Corporation, Shield Therapeutics, Pharmacosmos A/S, Teva Pharmaceutical Industries LTD., Advanz Pharmaceutical, Zydus Cadila, Rockwell Medical, Alkem Labs, Hikma Pharmaceuticals PLC, GlaxoSmithKline plc., and Avion Pharmaceuticals, LLC.
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