Iron deficiency anemia is one of the most common forms of anemia that occurs when there is not enough iron in the body. Anemia is a medical condition caused by low healthy red blood cells. Red blood cells (RBCs) supply oxygen to body tissues. Iron plays an important role in making hemoglobin which is part of red blood cells. Hemoglobin deficiency indicates less oxygen in the body. Therefore, it is quite important to maintain iron levels. For the transport of oxygen, the human body needs iron. It can be prevented through the consumption of iron-rich foods such as meat, vegetables, fruits, and grains. Moreover, vitamin C also helps to prevent iron deficiency anemia. Some of the causes of iron deficiency anemia include inadequate iron intake, the inability to absorption of iron, pregnancy, and endometriosis. The symptoms of iron deficiency anemia include fatigue, tiredness, rough and dry skin, tachycardia, neurocognitive dysfunction, restless legs syndrome, difficulty breathing, or upper body discomfort.
COVID-19 Impact Analysis
- COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
- Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the iron deficiency anemia treatment market.
Top Impacting Factors
Increase in prevalence of anemia among different groups of society, including infants, adolescents, and pregnant women contributed to the growth of the market.
In addition, certain factors are linked with the high prevalence of anemia and it includes obesity, increase in binge eating and consumption of junk foods, and rise in levels of stress are some factors which boost the market growth.
Increase in the risk of haemodilution in pregnancy drives the growth of the iron-deficiency anemia treatment market.
On the contrary, a rise in awareness about the treatment of anemia and an increase in investments in R&D activities to develop a novel treatment for anemia is expected to offer lucrative growth opportunities for the expansion of the market during the forecast period.
However, lack of adequate testing coupled with some adverse reactions attributed to iron supplements is one of the major factors likely to hamper the growth of the market.
New Product Launches to Flourish the Market
- In January 2019, Pharmacosmos a/s announced its approval of Monoferri in the U. S. by the Food and Drug Administration (FDA) for the treatment of iron-deficiency anemia (IDA). This new FDA approval will help to expand PHARMACOSMOS A/S product portfolio and thus increase its market credibility.
- In 2018, AMAG Pharmaceuticals received a U.S. FDA (Food and Drug Administration) approval for Feraheme, for the treatment of iron deficiency anemia in patients, with intolerance to oral iron therapy and/or have no significant improvement through oral iron therapy.
Key Benefits of the Report
- This study presents the analytical depiction of the iron deficiency anemia treatment market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Iron Deficiency Anemia Treatment Market Report
- Which are the leading market players active in the iron deficiency anemia treatment market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is iron deficiency anemia treatment market?
- What is iron deficiency anemia treatment market prediction in the future?
- Who are the leading global players in the iron deficiency anemia treatment market?
- What are the current trends and predicted trends?
- What are the key benefits of the iron deficiency anemia treatment market report?
Iron Deficiency Anemia Treatment Market Report Highlights
By Therapy Areas
By End User
Key Market Players
AMAG Pharmaceuticals Inc., Akebia Therapeutics., Sanofi Aventis,, Pieris Pharmaceuticals Inc., Pharmacosmos AS, Keryx Biopharmaceuticals Inc., Allergan PLC