The global intravenous iron drug market is projected to grow at a CAGR of around 7% during the forecast period. Iron plays an important role in the transportation of oxygen throughout the body. The key factors that drive the growth of the global intravenous iron drug industry include the increased prevalence of various disorders such as failures, nephrology, gynecology, gastroenterology, and others. One of the applications of the intravenous iron drug is in the treatment of irritable bowel syndrome (IBS).
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IBS is an intestinal disorder that causes abdominal pain, diarrhea, bloating, and constipation. According to the American Society of Gastrointestinal Endoscopy (ASGE), around 7-21% of the general population is suffering from IBS across the globe. There are few medications available in the market that offer relief to the disorder. As many as one-third of all patients with inflammatory bowel disease (IBD) have iron-deficiency anemia (IDA). Therefore, the high prevalence of IBD or IBS may create an opportunity for the growth of the global intravenous iron drug market.
Further, the availability of various treatment methods is also the factor influencing the market growth. Other factors affecting the growth of the market include various contributions by government and private organizations for the development and R&D activities. The collaboration among research institutes and hospitals is also contributing to the market. The healthcare expenditure in countries such as the US, India, and China is growing significantly with the increasing interest from both the private and public sectors. These economies are amongst the fastest developing countries in the adoption and implementation of new technologies across the globe, which, thereby provide a wide scope for the growth of the market.
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Further, the presence of the key players that provides suitable and proper services and drugs also drives the growth of the market. Players such as Allergan PLC., American Regent, Inc., Daiichi Sankyo Co., Ltd., Pharmacosmos Group, Rockwell Medical Technologies, Inc., Sanofi SA, Keryx Biopharmaceuticals Inc., and Vifor Pharma Ltd. are significantly contributing to the growth of the global intravenous iron drug market.
Global Intravenous Iron Drug Market – Segmentation
By Product
- Ferric Carboxymaltose
- Iron Sucrose
- Iron Dextran
- Others (Ferric Gluconate)
By Application
- Oncology
- Chronic Kidney Diseases
- Inflammatory Bowel Diseases
- Others
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