Global IV and Oral Iron Drugs Market Grows at a Staggering CAGR of 11.43%

Introduction

Iron is crucial in various metabolic pathways, such as energy generation, respiration, DNA formation, and cell growth. Untreated iron deficiency (ID) can lead to various clinical outcomes, including fatigue, neurobehavioral disorders, including restless leg syndrome, worsening of certain conditions such as angina, and cognitive impairment in children. The most widespread single defect that affects children, men, and women globally is ID.

Untreated intellectual disability (ID) can lead to severe repercussions. However, individuals often disregard or underestimate them due to ID typically being a secondary outcome of other illnesses or conditions rather than the major underlying cause. Iron deficiency anemia (IDA) can occur in individuals who do not receive treatment for their iron deficiency, increasing their risk factors.

Market Dynamics

Strategic Collaborations and Licensing Opportunities Drive the Global Market

The leading market participants in intravenous (IV) and oral iron treatments prioritize strategic alliances with international counterparts to strengthen their worldwide footprint. The majority of market participants engage in collaboration to jointly develop and bring intravenous and oral iron medications to the market. The companies who initiated this project are collaborating with both major and mid-sized companies, as well as regional and local companies, including those in the biotechnology sector, to enhance the global distribution of intravenous and oral iron medications.

Furthermore, the prominent entity Vifor Pharma established a strategic alliance with Fresenius Kabi in February 2020. Under this agreement, Fresenius Kabi will assume complete responsibility for marketing Vifor Pharma's intravenous iron portfolio in China. Vifor Pharma established a strategic partnership with American Regent, a subsidiary of the Daiichi Sankyo Group. This collaboration granted American Regent an exclusive sales license for Venofer in the United States and Canada.

Growing Availability of Branded Iron Therapeutics and Expanded Indication Approvals Creates Tremendous Opportunities

The leading market participants in intravenous (IV) and oral iron treatments prioritize strategic alliances with international counterparts to strengthen their worldwide footprint. The majority of market participants engage in collaboration to jointly develop and bring intravenous and oral iron medications to the market. The companies who initiated this project are collaborating with both major and mid-sized companies, as well as regional and local companies, including those in the biotechnology sector, to enhance the global distribution of intravenous and oral iron medications.

Furthermore, the prominent entity Vifor Pharma established a strategic alliance with Fresenius Kabi in February 2020. Under this agreement, Fresenius Kabi will assume complete responsibility for marketing Vifor Pharma's intravenous iron portfolio in China. Vifor Pharma established a strategic partnership with American Regent, a subsidiary of the Daiichi Sankyo Group. This collaboration granted American Regent an exclusive sales license for Venofer in the United States and Canada.

Regional Analysis

North America is the most significant global IV and oral iron drugs market shareholder and is estimated to exhibit a CAGR of 12.56% during the forecast period. The significant increase in sales can be attributed to the substantial demand for branded iron medications. Specifically, the consumption of branded iron medications is greater in the United States compared to other nations. Branded iron medicine market players are earning more money from the US than other markets.

Moreover, the rising healthcare expenditure among the population in countries such as the US and Canada is contributing to the expansion of the region's IV and oral iron medicines market. The region is dominant in the intravenous (IV) and oral iron medication industry, making it a crucial strategic focus for numerous market participants.

Key Highlights 

• The global IV and oral iron drugs market was valued at USD 6.25 billion in 2022. It is estimated to reach USD 16.51 billion by 2031, growing at a CAGR of 11.43% during the forecast period (2023–2031).
• By route of administration, the global IV and oral iron drugs market is segmented into IV and oral segments. The IV segment owns the highest market share and is predicted to exhibit a CAGR of 16.03% over the forecast period.
• Based on application, the global IV and oral iron drugs market is segmented into nephrology, OBGYN, surgery, gastroenterology, oncology, and heart failure segments. The nephrology segment owns the highest market share and is projected to grow at a CAGR of 14.17% over the forecast period.
• Based on patient groups, the global IV and oral iron drugs market is segmented into adult and pediatric segments. The adult segment is the most significant contributor to the market share and is anticipated to exhibit a CAGR of 12.81% throughout the forecast period.
• Based on distribution type, the global IV and oral iron drugs market is segmented into hospital pharmacies, offline retail pharmacies, and online channel segments. The hospital pharmacies segment accounts for the largest market share and is anticipated to exhibit a CAGR of 14.22% throughout the forecast period.
• North America is the most significant global IV and oral iron drugs market shareholder and is estimated to exhibit a CAGR of 12.56% during the forecast period.

Competitive Players

Competitive Players

The key global IV and oral iron drugs market players are Vifor Pharma, Daiichi Sankyo Company, AMAG Pharmaceuticals, Pharmacosmos, Sanofi, Allergan, Akebia Therapeutics, AOP Orphan Pharmaceuticals, and Shield Therapeutics, among others.

Recent Developments

Market News

• In June 2023, Key findings from the Phase 3 XTEND-Kids study evaluating ALTUVIIIOTM [Antihemophilic Factor (Recombinant), Fc-VWF-XTEN Fusion Protein] once-weekly prophylaxis, a first-in-class, high-sustained factor VIII replacement therapy, were presented at the International Society on Thrombosis and Haemostasis (ISTH) Annual Meeting in Montreal, Canada.
• In June 2023, A new Open Innovation Portal was made available by Sanofi's Consumer Healthcare Business Unit, enabling the larger supply chain community to contribute innovative, game-changing solutions to the problems posed by the consumer healthcare industry's constant change.

Segmentation

Global IV and Oral Iron Drugs Market: Segmentation

By Route of Administration

• IV
• Oral

By Applications

• Nephrology
• OBGYN
• Surgery
• Gastroenterology
• Oncology
• Heart Failure

By Patient Group

• Adult
• Pediatric

By Distribution Channel

• Hospital Pharmacies
• Offline Retail Pharmacies
• Online Channels

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa