Global Intravenous (IV) Iron Drugs Market: Forecast to 2022
Added: (Tue Jan 30 2018)
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Globally, the growth of the Intravenous (IV) Iron drug market growth is driven by high prevalence of Iron deficiency with unfulfilled need among a larger section of world population, increasing health awareness, significant improvement in healthcare facilities and expanding healthcare expenditure coupled with the increasing prevalence of chronic diseases resulting in severe Iron Deficiency Anemia. Moreover, the market growth is driven by the emerging third generation I.V. drugs characterized by better tolerance, safety, high dosage and quick repletion of Iron in the body simultaneous with expanding geographical reach of the leading players through collaboration or licensing agreements with domestic players.
According to Azoth Analytics research report, “Global Intravenous (IV) Iron Drugs Market: Analysis By Therapeutic Application (Nephrology, Gynecology & Obstetrics, Gastroenterology, Oncology, Cardiology, Others), By Product Type (Ferric Carboxymaltose, Iron Sucrose, Iron Dextran, Others) - By Region, By Country (2018 Edition): Forecast to 2022” the global IV Iron drugs market is projected to exhibit a CAGR of over ~11.19% during 2017 – 2022, largely driven by the increasing consciousness about iron deficiency Anemia, growing women & geriatric population more vulnerable to iron deficiency, rising prevalence of cardiovascular and kidney diseases together with rising healthcare expenditure, development of healthcare infrastructure, improving access to medicines and emerging third generation I.V. Iron drugs. Generally, the risk of Iron Deficiency increases with rising age and growing women population.
APAC is predicted to grow at higher rate during the year 2017-2021F, which is mainly driven by the increase positive economic growth resulting in development of healthcare infrastructure, improving access to medicine and rising healthcare expenditure simultaneously with the presence of larger population with Iron Deficiency and unmet need of Iron.
Nephrology accounts for 64% of global I.V. Iron drug market owing to the high prevalence of Chronic Kidney Diseases and availability of the drugs to cater the segment. It is also anticipated to grow at positive rate during forecast period owing to the improving approachability and rising income in emerging economies.
In product type, Ferric carboxymaltose has witnessed robust and currently a leading iron formulation with 42% of the market share in 2016. Also, the segment is projected to witness highest growth during the forecast period due to better safety concern, quick absorption in high dosage and increasing adaptability of the products in non-nephrology segment.
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