Iron Drugs Market Scope
Iron, one of the essential elements, plays an important role in biological processes such as the synthesis of heme, energy metabolism, neurotransmitter production, formation of myoglobin, formation of collagen, and immune system function. Deficiency of iron is one of the major causes of iron deficiency anemia (IDA) associated with increased morbidity and mortality. According to a survey conducted by the Vitamin and Mineral Nutrition Information System in 2017, around 30% of anemia in women and children in developing countries is due to iron deficiency. In the 19th century, Pierre Blaud introduced ferrous sulfate which became the standard treatment for IDA. Increasing investment in the healthcare sector, and rising cases of iron deficiency anemia are aiding in the iron drugs market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Allergan, Inc. (United States), AMAG Pharmaceuticals, Inc. (United States), Daiichi Sankyo (Japan), Pharmacosmos (Denmark), Vifor Pharma (Switzerland), Galenica (Switzerland) and Nippon Shinyaku (Japan) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United Kingdom Players will contribute to the maximum growth of Europe Iron Drugs market throughout the predicted period.
Allergan, Inc. (United States), AMAG Pharmaceuticals, Inc. (United States), Daiichi Sankyo (Japan), Pharmacosmos (Denmark), Vifor Pharma (Switzerland), Galenica (Switzerland) and Nippon Shinyaku (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Sanofi S.A. (France), Shield Therapeutics plc (United States) and Wanbang Biopharmaceutical (China).
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 Drugs market by Type , by Application (Chronic Kidney Disease, Inflammatory Bowel Disease, Cancer Diseases and Others) and Region with country level break-up.
On the basis of geography, the market of Iron Drugs 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
On 2nd August 2019, FDA has approved Accrufer for the treatment of iron deficiency in adults with chronic kidney disease. Accrufer (ferric maltol), manufactured by U.K.-based Shield Therapeutics plc, is an oral treatment that provides an alternative to salt-based oral iron therapies, according to a company press release. The drug is absorbed from the ferric maltol molecule and generally does not cause gastrointestinal adverse events (ie, nausea, bloating and constipation) typically observed with salt-based therapies.
Influencing Trend:
Rising Geriatric Population
Market Growth Drivers:
Growing Prevalence of Chronic Kidney Disease, increasing Number of Patients Undergoing Dialysis and Rising Investment by Governments and Private Companies in Biotechnology and Biopharmaceutical Industry
Challenges:
Stringent Regulations, Drug Side Effects, Nutraceutical Alternatives to Prevent Iron Deficiency, and Product Price
Restraints:
Complex Approval Process
Opportunities:
Increase in Iron Deficiency Anemia in Gynecology, Oncology, and Gastroenterology, Noncompliance of Oral Therapy, and Accurate, Easy, and Convenient Access to IV Iron Dosages Drive Demand for Intravenous Iron Drugs
Key Target Audience
Iron Drugs Manufacturers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and End Users