Iron, one of the essential element, plays an important role in biological processes such as the synthesis of heme, energy metabolism, neurotransmitter production, formation of myoglobin, formation of collagen, and immune system function. Deficiency of iron is one of the major causes of iron deficiency anemia (IDA) associated with increased morbidity and mortality. According to a survey conducted by the Vitamin and Mineral Nutrition Information System in 2017, around 30% of anemia in women and children in developing countries is due to iron deficiency. In the 19th century, Pierre Blaud introduced ferrous sulfate which became the standard treatment for IDA.
Iron supplements are available in two forms: oral and intravenous. Intravenous iron drug market preparations are superior to oral supplements, as these lead to higher and faster increase in iron and Hb levels. Oral supplements have disadvantages such as GI adverse events, poor adherence, poor gastrointestinal absorption, and non-compliance.
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Major drivers of the IV iron drugs market are increase in incidence of iron deficiency, rise in chronic kidney disease patients undergoing dialysis, and surging diabetic population. Increase in iron deficiency anemia in gynecology, oncology, and gastroenterology, noncompliance of oral therapy, and accurate, easy, and convenient access to IV iron dosages drive demand for intravenous iron drugs. However, complex approval process, stringent regulations, drug side effects, nutraceutical alternatives to prevent iron deficiency, and product price are likely to act as major restraints of the IV iron drugs market.
Key players in the intravenous iron drugs market are Allergan, Inc., AMAG Pharmaceuticals. Inc., Galenica Ltd., Actavis, Inc., American Regent. Inc., Sanofi, Luitpold Pharmaceuticals, Inc., Fresenius Medical Care AG & Co., Pharmacosmos A/S, and Vifor Pharma Ltd.
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