Global Market for IV Iron Drugs is Projected to Reach US$1.8 Billion by 2020
Increase in Dialysis Patients & Growing Prospects
Outside Nephrology Drive Demand for Intravenous Iron Drugs, According to New
Report by Global
Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, market size
and demand forecasts on the Intravenous Iron (IV) Drugs market. Global
market for IV Iron Drugs is projected to reach US$1.8 billion by 2020, driven
by aging population, growing incidence of chronic kidney disease and the ensuing
rise in dialysis patients.
Growing
incidence of Chronic Kidney Disease (CKD) and other diseases related to
oncology, gynecology, gastroenterology and nephrology that are usually
associated with iron deficiency is driving significant growth in demand for
Intravenous (IV) Iron Drugs. Iron deficiency anemia (IDA) is recognized as a
debilitating nutritional deficiency affecting approximately 2.0 billion
individuals worldwide. The condition is particularly high in patients on
hemodialysis for the treatment of Chronic Kidney Disease (CKD), a condition
which is increasingly becoming a burden to healthcare systems worldwide. Major
factors driving the prevalence of CKD include aging population and increasing
prevalence of conditions such as diabetes, obesity, heart disease, stroke,
etc., that are known to be risk factors for CKD. Despite the high prevalence of
CKD, only a fraction of the total afflicted patients undergo treatment through
IV iron therapies, thereby presenting huge untapped potential for growth. While
the use of IV iron therapies in dialysis is well established, limitations in
diagnosis have historically prevented significant use of IV iron in other
therapeutic areas.
In the
coming years, however, the global market for intravenous (IV) iron therapies
dominated hitherto by the field of nephrology, is expected to witness a
sea-change with the need to address IDA in other chronic illnesses and in
patients not responding to oral iron therapies. Oral iron treatment, despite being
cost-efficient and popular in the treatment of iron deficiency anemia is not
suitable for all patients as majority fail to respond to oral treatment. IV
iron formulations have evolved significantly since the introduction of the
first generation drugs InFeD (iron dextran) and Dexeferrum (iron dextra). The
first-generation preparations, known to induce serious anaphylactic reactions,
made way for second and third-generations intravenous iron preparations with
demonstrated safety and efficacy profiles. The limitations of oral iron therapy
further expanded the scope for intravenous (IV) iron drugs, especially second
and third generation compounds, developed to correct IDA with minimal side
effects. Third generation drugs, such as, Feraheme and Injectafer effectively address
setbacks faced by first and second generation drugs with respect to dose
limitations. Ability to administer higher doses offers numerous benefits such
as reduced number of doctor visits, shorter period of treatment, and lower
side-effects associated with long-tern use. These factors are
expected to promote adoption of third-generation IV iron drugs, thereby driving
growth in the market.
As
stated by the new market research report on Intravenous (IV) Iron Drugs, the United
States represents the single largest market worldwide. Asia-Pacific is forecast
to spearhead future growth with a projected compounded annual growth rate of 12.4% over the analysis period. Growth in the region is driven by
rising obesity, increase in diabetes, and an aging population, all of which
raise the risk of CKD, the primary factor driving demand for intravenous iron drugs.
Major players covered in the report include
Actavis
Inc., AMAG Pharmaceuticals Inc., Fresenius Medical Care AG & Co. KGaA, Galenica
Ltd., Luitpold Pharmaceuticals, Pharmacosmos A/S, Sanofi US, and Vifor Pharma
Ltd. among others.
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