Rise in Dialysis Patients & Preference for IV Drug Administration Drive Demand for Intravenous Iron Drugs, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) October 28, 2013 -- Follow us on LinkedIn – The Intravenous (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 recognized 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. Major factors driving the prevalence of CKD include aging world population and increasing prevalence of conditions such as, diabetes, obesity, heart disease, stroke, etc., that are known to be risk factors for CKD. Nephrology remains a major market for IV iron therapies. 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 is dialysis is well established, limitations in diagnosis have historically prevented significant use of IV iron in other therapeutic areas. Global market for intravenous (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 anemia 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. The limitations of oral iron therapy further expand the scope for intravenous (IV) iron, especially second and third generation compounds developed to correct IDA with minimal side effects. Concerns over adverse reactions to nearly all IV iron preparations; and serious anaphylactic reactions in the case of iron dextran preparations, is the most significant factor promoting further research for developing safe and effective IV iron drugs.
As stated by the new market research report on Intravenous (IV) Iron Drugs, 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. Additionally, the market is also benefiting from the rising evidence of the benefits of IV iron over oral iron drugs. Asia-Pacific is forecast to spearhead future growth led by growing population and rising incidence of chronic kidney disease (CKD). The region is projected to register a compounded annual growth rate of 12.4% over the analysis period.
Major players covered in the report include Actavis Inc., AMAG Pharmaceuticals Inc., American Regent Inc., Fresenius Medical Care AG & Co. KGaA, Galenica Ltd., Luitpold Pharmaceuticals, PharmaCosmos A/S, Rockwell Medical Technologies Inc., Sanofi US, and Vifor Pharma Ltd.
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 visit – http://www.strategyr.com/Intravenous_IV_Iron_Drugs_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, 408-528-9966, [email protected]
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