Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Iron Deficiency Anemia Therapy Market Analysis & Forecast 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The Global Iron Deficiency Anemia Therapy Market is projected to experience burgeoning growth by 2034, fueled by groundbreaking therapeutic advancements and a persistently increasing patient population.
Unprecedented Market Expansion
The iron deficiency anemia therapy market is on an impressive trajectory, expecting to transcend USD 11 billion by 2034. This steep ascent, recorded at a CAGR of 7.88%, is underpinned by a confluence of driving factors. Among these, the escalating global prevalence of anemia due to inadequate dietary iron and absorption challenges, has catalyzed the momentum.
The market's expansion is also a testament to the rising geriatric demographics and enhanced awareness emanating around early detection and treatment of iron deficiency anemia (IDA). Bolstered government initiatives to mitigate the healthcare burden IDA poses have been significant. Additionally, innovations in healthcare infrastructure and a series of product launches and regulatory nods for groundbreaking therapies pivot the market towards a prosperous future.
Innovation at the Core of Advancement
The renewal of the market lies in its progressive leaps with treatments that mend the shortage of healthy red blood cells indicative of anemia. The market focuses on the introduction of novel, more efficacious therapeutic approaches. In light of this, regulators' approvals such as that granted to Zydus's novel Oxemia formulation for anemia related to chronic kidney disease in India, stimulate substantial market growth.
Segmented Brilliance in Parenteral Iron Therapy
The iron deficiency anemia therapy market's segmentation analysis reveals stellar performance by parenteral iron therapy as of 2023. This segment has enjoyed a prolific revenue inflow owing to advancements in formulations and premier product launches. Companies like Emcure Pharmaceuticals stamp their innovation mark with the release of upgraded offerings such as Orofer FCM 750.
Steady Gains in Oral Therapy and Adult Segments
Oral iron therapy is anticipated to burgeon graciously during the forecast period, hailed for its ease of use and accessibility. Adults contribute the largest share of market revenue, augmented by rising anemia levels among women and robust regulatory approvals for adult anemia treatments.
Home Healthcare to Gain Traction
The shifting tides of healthcare delivery approach are evidenced in the home healthcare segment's expected highest CAGR. Cost-efficiency and advancements in remote patient management technologies are enabling more patients to seek treatment in the comfort of their homes, with innovations like BioSyent Pharma Inc.'s FeraMAX Pd Maintenance 45.
Geographical Market Insights
North America continually dominates the market sphere with an expansive share, leveraging the region’s advanced R&D infrastructure and strategic product launches. A notable FDA approval for Daiichi Sankyo's INJECTAFER elucidates the trend. The Asia-Pacific region, however, is not far behind, set to register the swiftest growth rate. This is due to the mounting incident rate of IDA, increased awareness, and localized market initiatives like the introduction of Nippon Shinyaku Co. Ltd.'s new MonoVer in Japan.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $4.84 Billion |
| Forecasted Market Value (USD) by 2034 | $11.15 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Companies Mentioned
- AbbVie Inc. (Allergan)
- Bayer AG
- CSL Vifor
- Sanofi
- Teoxane
- Johnson & Johnson Services Inc.
- Akebia Therapeutics Inc.
- GSK plc
- AdvaCare Pharma
- Novartis AG
- Apotex Inc.
- Zydus Group
- PHARMACOSMOS A/S
- Covis Pharma GmbH
For more information about this report visit https://www.researchandmarkets.com/r/kni1z0
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