LONDON, March 11, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company's Iron Deficiency Injectable Global Market Report 2024, the iron deficiency injectable market is experiencing rapid growth, poised to expand from $12.75 billion in 2023 to $14.06 billion in 2024, representing a compound annual growth rate (CAGR) of 10.3%.
Rapid Growth Anticipated
Forecasts predict robust expansion in the iron deficiency injectable market, reaching $20.68 billion by 2028, with a CAGR of 10.1%. This growth trajectory is attributed to the high prevalence of malnutrition, a concerning health condition marked by a nutrient intake imbalance.
Addressing Malnutrition with Precision
Iron deficiency injectables play a pivotal role in combating malnutrition, swiftly replenishing iron stores in the body to correct deficiencies. Administered to malnourished patients, these injectables provide a concentrated dose of iron, facilitating rapid absorption into the bloodstream. The escalating prevalence of malnutrition, as highlighted by a 22.36% rise in attributed deaths reported in 2022, underscores the critical need for effective solutions.
Industry Leaders and Innovations
Key players driving innovation in the iron deficiency injectable market include Daiichi Sankyo Company Limited, Pfizer Inc., AbbVie Inc., and Bayer AG, among others. These companies are spearheading the development of new therapies such as INJECTAFER, a groundbreaking intravenous iron replacement therapy. INJECTAFER recently received FDA approval for adult patients with chronic and progressive heart failure, marking a significant milestone in the field.
Strategic Acquisitions and Collaborations
Industry giants are strengthening their market positions through strategic acquisitions and collaborations. CSL Limited's acquisition of Vifor Pharma in August 2022 exemplifies this trend, underscoring a commitment to innovation and patient care.
Market Segmentation
The iron deficiency injectable market is segmented based on type, branded or generics, application, and end-user. Iron Dextran, Iron Sucrose, and Ferric Carboxymaltose emerge as primary types, catering to diverse patient needs across chronic kidney disease, inflammatory bowel disease, cancer, and other applications.
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As stakeholders navigate the dynamic landscape of the iron deficiency injectable market, insights gleaned from this report offer invaluable guidance. By leveraging innovative therapies, fostering strategic collaborations, and prioritizing patient care, industry leaders can capitalize on emerging opportunities and drive sustainable growth in the evolving landscape of iron deficiency injectable market.
Iron Deficiency Injectable Global Market Report 2024 by The Business Research Company provides insights on the iron deficiency injectable market size, iron deficiency injectable market segments, iron deficiency injectable market trends, drivers and restraints, major competitors' market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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