The intravenous (IV) iron drugs market has been forecast to reach a value of $1.6 billion by 2018 driven by the aging population, rising incidences of chronic kidney disease (CKD), the increasing number of patients on dialysis, and unresponsive oral therapies in many patients.
The IV iron drugs market is witnessing strong growth driven by widespread iron deficiency anemia as a result of diseases related to oncology, gynecology, gastroenterology and nephrology.
Iron deficiency anemia (IDA) is recognised as a debilitating nutritional deficiency affecting approximately 2.0 billion individuals worldwide.
The condition is particularly high in patients suffering from Chronic Kidney Disease (CKD), a condition which is increasingly becoming a burden to healthcare systems worldwide.
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.
The global market for IV iron therapies, dominated hitherto by the field of nephrology, however, 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.
Intravenous iron drugs have evolved over the years with first-generation preparations, known to induce serious anaphylactic reactions, making way for second and third-generations intravenous iron preparations with demonstrated safety and efficacy profiles.
Oral iron, the most commonly used therapy in broader iron deficiency anaemia patients (outside nephrology) is limited by the inability of patients to respond to the treatment.
Patients are often required to continue therapy for extended period of time, up to 6 months in some cases, resulting in high rates of discontinuation of therapy, particularly among patients experiencing adverse effects such as fatigue and nausea.
According to a recent market report, 'Intravenous (IV) Iron Drugs: A Global Strategic Business Report,' the United States represents the single largest market worldwide.
Rising obesity levels, the subsequent increase in diabetes, and an ageing population add to the rise in risk for CKD, the primary factor driving demand for intravenous iron drugs in the country.
For more information on the IV iron drugs market, see the latest research: IV Iron Drugs Market
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