Intravenous (IV) Iron Drugs: A Global Strategic Business Report
San Jose, California (PRWEB) January 09, 2015
Follow us on LinkedIn – 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.
The research report titled “Intravenous (IV) Iron Drugs: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, challenges, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.
For more details about this comprehensive market research report, please click here
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