Global Intravenous Iron Drugs Market 2017-2021
About IV Iron Drugs
Iron is one of the most important minerals in the human body. One of the major components of hemoglobin, iron helps the blood carry oxygen. Iron deficiency can affect the production of hemoglobin and cause anemia. This condition is known as iron deficiency anemia.
Technavio’s analysts forecast the global IV iron drugs market to grow at a CAGR of 10.46% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global IV iron drugs market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of IV iron drugs.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global IV Iron Drugs Market 2017-2021
Technavio recognizes the following companies as the key players in the global IV iron drugs market: Allergan, AMAG Pharmaceuticals, Daiichi Sankyo, Galenica, and Pharmacosmos
Other Prominent Vendors in the market are: Nippon Shinyaku, NOXXON Pharma, Rockwell Medical, Sanofi, and Wanbang Biopharmaceutical
Commenting on the report, an analyst from Technavio’s team said: “Favorable guidelines from healthcare organizations will likely drive the adoption rates of intravenous iron drugs. For instance, in May 2016, the European Society of Cardiology posted guidelines for the diagnosis and treatment of acute and chronic heart failure. These guidelines strongly recommend Ferinject for the treatment of iron deficiency in patients with systolic heart failure. The guidelines also stated that treatment of these individuals with Ferinject for up to one year showed reduced hospitalization rates. In addition, in February 2015, Ferinject was presented at the European Crohn’s and Colitis Organization congress, which posted guidelines on the diagnosis and management of iron deficiency and anemia in individuals with irritable bowel syndrome. These new guidelines recommended intravenous iron as a first line therapy for specific patients. Also, in 2014, Norfolk and Norwich University Hospitals released a trust guideline for the management and administration of intravenous iron in adults, mandating the use of Venofer and Ferinject for individuals with irritable bowel syndrome or other gastrointestinal conditions. These drugs are indicated in individuals who are intolerant or non-responsive to oral iron drugs. It also includes patients with iron deficiency anemia under the supervision of gastroenterologist. Such guidelines will improve the adoption rates of intravenous iron drugs.”
According to the report, the market has witnessed a shift from conventional dextran intravenous iron drugs to non-dextran intravenous iron drugs. The increased demand for these drugs is attributed to their ability to deliver larger doses of iron in a short time. Furthermore, ferric carboxymaltose is preferred over iron polymaltose for outpatients as it can be managed easily. Injectafer/Ferinject is the first non-dextran product indicated for the treatment of anemia. This drug is manufactured and marketed by Galenica (outside the US and Canada) and Daiichi Sankyo (the US and Canada). Galenica's Ferinject reported sales of $261.14 million in 2015, indicating an increase of 26.8% over that in previous fiscal year. Daiichi Sankyo's Injectafer posted sales of $155 million in 2015, reflecting a YoY growth of 124.6%. Injectafer/Ferinject addresses challenges such as intolerance or unsatisfactory response, safety concerns, and dosing and compliance issues associated with conventional iron therapies. Injectafer/Ferinject contains ferric carboxymaltose, which is a stable complex and possesses very low immunogenic potential. Therefore, it does not pose the risk of anaphylactic reactions. Furthermore, these drugs allow the administration of large doses in a single and rapid session without the requirement of a test dose. Such advantages will drive the adoption of non-dextran therapies for the treatment of anemia.
Further, the report states that the preference for alternatives to intravenous iron drugs has increased owing to rising need to reduce the side effects. Some substitutes include iron supplements, which are usually prescribed for people at risk of developing anemia, such as pregnant women. Iron supplements can also be used by individuals with anemia. In addition, individuals are turning to iron-rich foods, which reduces the need to take iron drugs or other supplements in the future. For instance, chicken liver, seafood such as oysters and clams, beef, and turkey provides large amounts of iron. Also, some of the vegetables such as lentils, spinach, and beans contain non-heme iron. In addition, the adoption of herbal remedies to boost the absorption of iron and other nutrients has also been increasing. The University of Maryland Medical Center states that dandelion, alfalfa, burdock, and yellow dock can be used to help cleanse the blood and enhance the levels of hemoglobin. In addition, growing research activities to develop and introduce alternative therapies will hinder the growth prospects of the market. For instance, in June 2016, Shield Therapeutics launched Feraccru for the treatment of iron deficiency anemia in individuals with irritable bowel disease. Shield Therapeutics claims that Feraccru could become an alternative to intravenous iron drugs as they pose complications such as allergic reactions, iron overload, and high overall cost. On the other hand, Feraccru offers simple oral administration, efficient absorption, and rapid effect like intravenous drugs. Furthermore, it is more cost-effective than intravenous drugs. Such research studies will hamper the growth prospects of the market.
Find more reports on related topics - https://www.spendedge.com/
Allergan, AMAG Pharmaceuticals, Daiichi Sankyo, Galenica, Pharmacosmos, Nippon Shinyaku, NOXXON Pharma, Rockwell Medical, Sanofi, and Wanbang Biopharmaceutical
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook