Iron Supplement Market Scope
According to the World Health Organization (WHO), approximately 25% of the population suffers from iron deficiency anemia as of 2017, which accounts for around 1.6 billion population. This fact contributes to the high demand for iron supplements. Iron supplements include the major component as iron as it is necessary for growth, development, normal cellular functioning and synthesis of some hormones and connective tissue. In addition, Iron deficiency is the most common reason for anemia in children and pregnant women. Further, growing health concerns among consumers and widening applications of iron supplements are the primary factor propelling the market growth of iron supplements demand.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Jamieson (Canada), Nature Made (United States), Twinlab (United States), Walgreens (United States), Pronova Corporation (United States), GNC (United States), Ferro Sequels (United States) and Olly Nutrition (United States) |
CAGR | % |
Research Analyst at AMA estimates that United Kingdom Players will contribute to the maximum growth of Europe Iron Supplement market throughout the predicted period.
Jamieson (Canada), Nature Made (United States), Twinlab (United States), Walgreens (United States), Pronova Corporation (United States), GNC (United States), Ferro Sequels (United States) and Olly Nutrition (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Europe Iron Supplement market by Type , by Application (Kids and Adult) and Region with country level break-up.
On the basis of geography, the market of Iron Supplement has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In July 2022, Jamieson Wellness Inc. announced it has completed the previously announced acquisition of Nutrawise Health & Beauty Corporation (“Nutrawise”), a leading innovator, manufacturer and marketer of premium supplements under the youtheory brand in the United States and other international markets
In August 2018, Quantzig, a pure-play analytics solutions provider, has announced the completion of their latest real-world evidence analytics engagement on the healthcare industry. An iron supplements manufacturing client wanted to discover new opportunities and drive value by improving their product offerings
Influencing Trend:
Need to Reduce the Burden of Iron Deficiency and Administration of Parenteral Iron Therapy among Anemia Patients Requiring Iron Supplements
Market Growth Drivers:
Rising Prevalence of Iron Deficiency & Anemia among Patients, Growing Health Concerns Among Consumers, Increasing Risk of Hemodilution in Pregnant Women's and Changing Lifestyle Coupled with Changing Dietary Habits among Consumers
Challenges:
The Development of Drug Formulations that don’t Infringe on Patents and Side Effects of Iron Supplements if High Dosage is Taken
Restraints:
Presence of Number of Substitutes such as Ferrous Sulfate, Ferrous succinate, and Ferrous Gluconate may Hinder the Market Growth
Opportunities:
Increasing Government Initiatives to Promote Dietary Nutrition and Health Supplements and Growing Pharmaceutical and Healthcare Industry
Key Target Audience
Iron Supplements Manufacturers, Pharmaceutical Companies, Industry Associations, Potential Investors, Government and Regulatory Bodies and Others