Allied Market Research

2024

Iron Supplement Market

Iron Supplement Market Size, Share, Competitive Landscape and Trend Analysis Report by Form and by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032

LS : Pharmaceuticals

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Author's: | Roshan Deshmukh
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Rising incidents of chronic diseases occurring majorly due decreasing levels of iron in the body has prompted rise in demand for iron supplements in the market. Reduced levels of iron in the body can have symptoms such as poor concentration, fatigue, illness, and hemodilution anemia in some cases. Iron supplements can help in reversing these impacts caused due to low iron levels in body. These supplements are available in the form of tablets, capsules, and oral liquids. These supplements contain different amounts of elementary iron that mixes with the blood stream and increase iron levels in body. However, these supplements may lead to short-term nausea and diarrhea.

Iron supplements are widely recommended for pregnant ladies to tackle stages of hemoldiution anemia they may encountered. Additionally, iron supplements witness high sales among geriatric population, which is at a higher risk of acquiring iron deficiency, owing to reduced efficiency in natural body metabolism.

COVID-19 Impact Analysis

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 to 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 supplement market.

Top Impacting Factors

  • Iron deficiency anemia is the foremost driving force of the iron supplement market. The syndrome occurs when there is not enough iron pumped into the body through red blood cells. It can lead to developmental delays in the new born babies, acute fatigue, and cardiovascular disease risks among geriatric population, thus underlying the need for taking in supplements to increase iron levels in the body.
  • The disease is further exacerbated when combined with fatal diseases such as malaria and dengue, which result in increase in demand for advanced therapeutic supplements to save lives.
  • Need to reduce the burden of the disease globally combined with rising health consciousness and high disposable incomes spent on healthcare in developed and newly developing nation further drive the growth for these iron supplements.
  • Increased incidents of hemodilution anemia among pregnant ladies resulting due to iron deficiency can result in postpartum maternal infections. Increased pregnancies augmented the use of iron supplements, thus driving the market growth.
  • However, lack of awareness coupled with huge misconceptions associated with new age therapeutics with respect to iron supplements is anticipated to hamper market growth.

Key Market Trends

  • North America is anticipated to dominate the market, owing to rising awareness among young athletes and budding sports enthusiasts coupled with general shift toward a more health conscious lifestyle.
  • Sports nutrition segment is anticipated to contribute highest revenue percentage in iron supplement market. This is attributed to increased consciousness among budding athletes regarding their muscle flexibility off season coupled with inception of craze of sports such as calisthenics and karate, which demand better body metabolism.
  • Improving effectiveness of iron supplement interventions is being at various pharmaceutical research labs through inception of information, communication, and education programs (IEC). The approach is especially being studied in Indonesia to increase the efficacy of supplement tablets and widening the supply chain sufficiency.
  • Nestle has recently acquired a novel iron deficiency treatment launched by scientists in at New Zealand Center for Medical Studies (NZCMS).  The technology, known as FERRI PRO, is aimed at addressing iron deficiency without adversely affective food and beverage taste.
  • Fortification technology has been developed to deliver acceptable and required levels of iron via the food that is consumed. Latest technology amongst this, known as GrowthPlus, has proven to reduce iron mediated undesirable food taste and final appearance.

Key Benefits of the Report

  • This study presents the analytical depiction of the iron supplement 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 a detailed analysis of the share.
  • The current market is quantitatively analyzed to highlight the growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Iron Supplement Report

  • Which are the leading players active in the iron supplement market?
  • How is each segment of the market expected to grow during the forecast period?
  • What are the adoption trends for the iron supplement market in emerging economies and established economies across the world?
  • 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 are the impacts of COVID-19 in the industry?
  • What is iron supplement?
  • What is the iron supplement market prediction in the future?
  • What are the current trends and predicted trends?

Iron Supplement Market Report Highlights

Aspects Details
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By Form
  • Liquid
  • Solid
  • Others
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By Distribution Channel
  • Online
  • Offline
    • Retail Pharmacies
    • Hospital Pharmacies
    • Others
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By Region
  • North America  (UNITED STATES, CANADA, MEXICO)
  • Europe  (FRANCE, GERMANY, ITALY, SPAIN, UNITED KINGDOM, Rest of Europe)
  • Asia-Pacific  (CHINA, JAPAN, INDIA, SOUTH KOREA, AUSTRALIA, Rest of Asia Pacific)
  • LAMEA  (Brazil, South Africa,, Saudi Arabia, Rest of LAMEA)
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Key Market Players

Mineral BioSciences, Nature Made, Olly Nutrition, Jamieson Laboratories, NovaFerrum, ACGrace, Pronova Corporation, Walgreens, Ferro Sequels, Twinlab

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Iron Supplement Market

Global Opportunity Analysis and Industry Forecast, 2023-2032