Iron Deficiency Injectable Industry Poised For Rapid Growth: Market Size Expected To Reach $20.6 Billion By 2028 As Per The Business Research Company’s Iron Deficiency Injectable Global Market Report 2024
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LONDON, Dec. 19, 2023 (GLOBE NEWSWIRE) — The Business Research Company’s research on the iron deficiency injectable market, the iron deficiency injectable market has undergone rapid expansion, surging from $12.75 billion in 2023 to an estimated $14.06 billion in 2024, showcasing a robust compound annual growth rate (CAGR) of 10.3%. This accelerated growth in the historic period is underpinned by the widespread prevalence of iron deficiency anemia treatments, increasing numbers of bariatric surgery patients, pediatric and adolescent patients, and a growing emphasis on pregnancy-related iron replenishment.
Anticipating Continued Momentum
The iron deficiency injectable market is expected to sustain its rapid growth, projected to reach $20.68 billion by 2028 with a CAGR of 10.1%. The forecasted surge is driven by factors such as the burgeoning geriatric population, global health initiatives, government-driven campaigns, escalating treatments for chronic conditions, and the swift replenishment of iron. Key trends in the forecast period encompass advances in iron formulations, the integration of digital health solutions, continuous innovations in iron deficiency injectable therapy, and an increased adoption of iron-based drugs.
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Fueling Growth: High Prevalence of Malnutrition
A significant driver propelling the iron deficiency injectable market is the escalating prevalence of malnutrition. Malnutrition, characterized by an imbalance between essential nutrient intake and the body’s nutritional needs, has prompted the use of iron deficiency injectables to rapidly replenish iron stores. Administering a concentrated dose of iron aids in swiftly correcting deficiencies. In 2022, California reported a 22.36% increase in deaths attributed to malnutrition, reaching 1,406 compared to 1,149 in 2021. This stark reality underscores the pivotal role iron deficiency injectables play in addressing malnutrition, heralding continued iron deficiency injectable market growth.
Key Players and Therapeutic Innovations
Major industry players, including Daiichi Sankyo Company Limited, Pfizer Inc., AbbVie Inc., Novartis AG, and others, are at the forefront of driving advancements in iron deficiency injectables. Companies are focusing on the development of novel therapies, such as Daiichi Sankyo’s INJECTAFER (ferric carboxymaltose injection), recently FDA-approved for adult patients with chronic and progressive heart failure. With over 40 clinical trials and more than 8,800 participants, this groundbreaking therapy illustrates the commitment to pioneering solutions that address diverse patient needs.
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Stakeholders and industry players can leverage the insights provided in this comprehensive iron deficiency injectable market report to chart strategic pathways for growth. The report offers a detailed breakdown of market segments, regional dynamics, emerging trends, and growth opportunities. By leveraging this information, businesses can make informed decisions, identify untapped areas for expansion, and stay abreast of evolving market trends. Navigating the dynamic landscape armed with the insights from this iron deficiency injectable market report positions industry players to not only adapt but thrive in the burgeoning iron deficiency injectable market.
Iron Deficiency Injectable Global Market Report 2024 by The Business Research Company provides insights on the iron deficiency injectable market size, iron deficiency injectable market segments, iron deficiency injectable market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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