Iron Deficiency Anemia Treatment Market Size & Industry Share, Growth Trends & Forecasts (2024 - 2031)

Based on the Treatment Type :

The treatment type is categorized into medication, drug transfusion, and others. In 2023, the medications segment accounted for the highest iron deficiency anemia treatment market share of 37.55%, and it is also expected to grow at the highest CAGR over the forecast period. The medication segment is further bifurcated into ferrous sulfate, ferrous gluconate, ferrous fumarate, sodium ferric gluconate, ferric hydroxide, and others. Medications mainly iron supplements are prescribed for the treatment of iron deficiency anemia. These supplements generally offer a primary approach to gaining reduced iron and managing the underlying condition. As per the analysis, oral iron supplements such as ferrous sulfate, ferrous gluconate, and ferrous fumarate are widely prescribed because of their easy availability, cost-effectiveness, and wide availability.

These supplements provide elemental iron, which is absorbed by the gastrointestinal tract and utilized by the body for the production of red blood cells, thus, addressing the route cause of anemia. Intravenous formulations provide a faster way to increase iron levels in the body compared to oral supplements since they are injected directly into the bloodstream. Various formulations are launched for the treatment of iron deficiency anemia.

For instance, In July 2021, Sandoz launched the first generic high-dose intravenous iron, Ferumoxytol Injection, to treat iron deficiency anemia in US patients.

Thus, the use of medication for the treatment of iron deficiency is boosting the expansion of the segment.

Based on the Route of Administration :

The route of administration segment is categorized into oral and injectable. In 2023, the oral segment accounted for the highest market share in the overall iron deficiency anemia treatment market. The consumption of drugs orally is one of the most common methods for the treatment of iron deficiency anemia. Oral medications such as ferrous sulfate, ferrous gluconate, and ferric citrate are commonly prescribed to manage iron levels in the body. The oral route of administration is used in this method where the medications are taken orally, usually as tablets, capsules, or liquids. This allows the drugs to easily pass through the digestive system and enter the bloodstream, where they subsequently find their way to specific organs or tissues to start working as therapeutics.

The oral route is preferred for its convenience and ease of use for patients, enabling them to take their medication at home without the need for medical supervision. Additionally, as per the analysis, oral medications are typically well tolerated, and the doses are generally adjusted based on individual patient needs and response to treatment. Various oral drugs and systems are launched for the treatment of iron deficiency anemia.

For instance, In March 2023, BioSyent Inc launched FeraMAX Pd Therapeutic 150 is an oral iron medication designed to prevent and maintain iron levels in the body, and for the treatment of iron deficiency anemia.

Thus, the consumption of drugs for the treatment of iron deficiency anemia treatment through the oral route of administration is boosting the expansion of the market.

Furthermore, the injectable segment is expected to hold the highest CAGR over the forecast period. Iron deficiency anemia treatment typically involves the administration of several injectable drugs either intravenously or subcutaneously.

Most of the drugs used for this treatment are developed in injectable form. The intravenous administration of drugs improves the bioavailability of the drugs, which enhances patient safety. Furthermore, based on the analysis, the expansion of this segment is being fueled by increasing advances in technology for injectable drugs.

For instance, In May 2023, Emcure Pharmaceutical launched its injectable for the treatment of iron deficiency anemia. Thus, the above factors are boosting the expansion of the segment.

Based on the Distribution Channel :

The distribution channel segment is categorized into hospital pharmacies, retail pharmacies, online pharmacies, and others. In 2023, the retail pharmacies segment accounted for the highest market share in the overall iron deficiency anemia treatment market. Retail pharmacies play an important role in helping patients with iron deficiency anemia to manage their condition. By providing convenient, affordable, and accessible access to iron deficiency anemia injections and medications, retail pharmacies help patients live healthier and more fulfilling lives. Retail pharmacy stores are easy to access, offer competitive prices on iron deficiency anemia treatment, and can provide patients with information and support on how to use medications safely and effectively. In addition, asper the analysis, they are often the first point of contact for patients with iron deficiency anemia. When patients are diagnosed with iron deficiency anemia, their doctor will typically refer them to a retail pharmacy to pick up their iron supplements and medications. New retail pharmacies are launched for the easy distribution of medications to patients.

For instance, In January 2023, Reliance Retails launched Netmeds retail pharmacies for the distribution of medications. Thus, the high benefits and easy availability of medications across retail pharmacy stores are driving the segment's development worldwide.

Moreover, the online pharmacies segment is expected to hold the highest CAGR over the forecast period. Online pharmacies such as e-commerce websites and company websites provide a platform for customers to purchase medicines and personal care products online, allowing the customer to get iron deficiency anemia drugs in the comfort of their homes within a short time. The increasing sale of pharmaceutical products through e-commerce platforms is expected to provide lucrative growth opportunities for online pharmacies over the forecast period.

For instance, According to the report by the National Investment Promotion and Facilitation Agency in June 2021, the Indian e-pharmacy sales in 2019 accounted for USD 0.5 billion which is expected to reach USD USD 4.5 billion compounded rate of 44%. Thus, the growing e-pharmacy sales are providing lucrative growth opportunities for segment growth over the forecast period.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

In 2023, North America accounted for the highest market share at 38.77% valued at USD 1,406.98 Million in 2023, it is expected to reach USD 2,099.19 Million in 2031. In North America, the U.S. accounted for the highest market share of 67.35% during the base year of 2023. North America has a well-established healthcare infrastructure, with a high number of hospitals, clinics, and pharmacies. This makes it easy for people with iron deficiency anemia to access iron medications and other essential supplies. Moreover, based on the iron deficiency anemia treatment market analysis, the high prevalence of iron deficiency anemia across the region is driving the trends and iron deficiency anemia treatment market demand across the region.

For instance, The U.S. Department of Health and Human Services, in February 2021, reported that 2% to 5% of females and 1% to 2% of males in the United States suffer from iron deficiency anemia.

Thus, the high prevalence of iron deficiency anemia across the region is driving the demand for iron deficiency anemia treatment market trend across North America. Furthermore, Asia Pacific is expected to witness significant growth over the forecast period, growing at a CAGR of 5.4% during 2023-2031. There is a growing awareness of diabetes management in the Asia Pacific region. This is leading to an increase in the demand for iron deficiency anemia supplements. Furthermore, Governments in the Asia Pacific region are increasing their support for iron deficiency anemia management. This is leading to increased access to iron injection and other essential iron deficiency anemia supplies, which is expected to create lucrative growth opportunities for the iron deficiency anemia treatment market across the region over the forecast period. All these above-mentioned factors are collectively boosting the market for iron deficiency anemia treatment across the Asia Pacific region and creating lucrative growth opportunities and trends for the iron deficiency anemia treatment market in the Asia Pacific region.