Report ID: PMRREP21364
Report Type: Ongoing
Format: PPT*, PDF, EXCEL
Industry: Healthcare
The global market is expected to increase from US$8.1 Bn in 2024 to reach US$13.7 Bn by the end of 2031. The market is expected to secure a CAGR of 7.8% during the forecast period from 2024 to 2031.
Key Highlights of the Market
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Attributes |
Key Insights |
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Anemia Drugs Market Size (2024E) |
US$8.1 Bn |
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Projected Market Value (2031F) |
US$13.7 Bn |
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Global Market Growth Rate (CAGR 2024 to 2031) |
7.8% |
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Historical Market Growth Rate (CAGR 2019 to 2023) |
6.8% |
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Anemia is a common cause of qualitative or quantitative deficiency of hemoglobin. Hemoglobin is an iron rich protein that caries the oxygen from lungs to the other parts of body tissue.
The hemoglobin deficiency is generally associated with the decrease in the number of red blood cells and hematocrit.
Anemia is hereditary or acquired disorder that affects the hemoglobin synthesis such as sickle cell anemia and thalassemia. Furthermore, bone marrow and stem cell reduction may result into anemia. More than 400 types of anemia are diagnosed which vary according to the causes and symptoms.
The high rate of nutrition deficiency is a key driving factor for the growth of anemia drugs market, globally. According to WHO estimates, around 50% of cases of anemia are reported due to iron deficiency.
The increase in prevalence of chronic diseases and disorders and growing baby blooming population are escalating the market.
The increase in anemia due to lack of proper nutritional diet in undeveloped countries are fueling the market for anemia drugs. According to the World Bank, anemia is the 8th leading cause of disease among the women and young girls.
The government initiatives in improving the healthcare facilities in developing countries is estimated to drive the market growth.
The rise in intake of NSAIDs (to cope with hectic lifestyles) such as aspirin, and ibuprofen leading to ulcers, and gastritis can be referred to as one of the key market trends shaping its performance. This eventually leads to anemia, significantly increasing the market growth, globally.
The growing awareness of anemia drugs in developing countries is anticipated to increase the market growth. Increase in research and development associated with the anemia drugs is expected to fuel the market growth during the forecast period.
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Get a Customized VersionThe global market for anemia drugs exhibited notable growth from 2019 to 2023, driven by increasing prevalence of anemia worldwide and advancements in pharmaceutical research and development.
Pharmaceutical companies adapted by implementing digital health solutions and remote patient management strategies, ensuring continuity of care and medication supply.
Market growth during the historical period was bolstered by ongoing research and development initiatives focused on novel therapeutic approaches, including biologics and targeted therapies.
Strategic partnerships and collaborations between pharmaceutical companies and healthcare providers aimed at enhancing treatment outcomes and expanding market reach contributed to the market’s expansion during this period. The market recorded a CAGR of 6.8% during the historical period.
The market is anticipated to experience substantial growth, propelled by numerous key factors shaping the healthcare landscape and pharmaceutical advancements.
As the global population continues to age, the prevalence of chronic diseases such as chronic kidney disease, cancer, and inflammatory disorders, which are often associated with anemia, is expected to rise.
The observed demographic shift will drive demand for effective anemia treatments, fueling market growth. The market is projected to exhibit a CAGR of 7.8% during the forecast period from 2024 to 2031.
Increasing Prevalence of Anemia Worldwide
Anemia remains a pervasive global health issue, affecting individuals across all age groups and geographical regions. The rising prevalence of chronic diseases such as chronic kidney disease, cancer, and inflammatory disorders contributes significantly to the demand for anemia drugs.
As these conditions become more prevalent due to aging populations and lifestyle changes, the need for effective treatments to manage associated anemia intensifies, thereby driving market growth.
Chronic diseases like renal disorders, inflammatory conditions, and certain cancers are major contributors to the development of anemia. These conditions often lead to impaired production of red blood cells or increased destruction, necessitating therapeutic interventions to manage anemia and its associated symptoms.
The growing prevalence of these chronic diseases worldwide directly correlates with the rising demand for anemia drugs.
Economic growth in developing countries has improved access to healthcare services, leading to better detection and management of health conditions, including anemia.
Investments in healthcare infrastructure, diagnostic capabilities, and pharmaceutical distribution networks enable timely diagnosis and treatment of anemia, thereby expanding the market for anemia drugs in emerging markets.
Growing Awareness, and Screening Programs
Awareness initiatives and screening programs aimed at identifying anemia in vulnerable populations contribute to early diagnosis and intervention.
Public health campaigns, supported by healthcare organizations and non-governmental organizations, educate communities about anemia symptoms, risk factors, and available treatment options.
Increased awareness leads to higher diagnosis rates and treatment initiation, further impelling market expansion for anemia drugs. Awareness initiatives educate healthcare providers and the public about the signs, symptoms, and risk factors of anemia.
The increased awareness prompts individuals to seek medical attention earlier, leading to timely diagnosis through screening programs. Early detection allows for prompt initiation of treatment, which is critical in managing anemia effectively and improving patient outcomes.
Adverse Effects Associated with the Medications of Anemia Drugs
Adverse effects associated with the medications of anemia drugs is anticipated to hinder the market growth. For instance, patients with diabetes taking iron for anemia, may increase the risk of heart diseases.
Many anemia drugs, such as iron supplements and erythropoiesis-stimulating agents (ESAs), are known to have side effects ranging from mild to severe.
For instance, iron supplements can cause gastrointestinal discomfort, constipation, or in rare cases, allergic reactions. ESAs, on the other hand, may increase the risk of cardiovascular events such as heart attacks or strokes, particularly when used at higher doses.
The presence of alternative therapies with improved safety profiles or novel mechanisms of action may challenge existing medications in the anemia drugs market.
Pharmaceutical companies investing in research and development of safer or more effective treatments may gain competitive advantage over drugs with significant adverse effects.
Adverse effects associated with anemia drugs can affect patient compliance and adherence to treatment regimens.
Patients may discontinue treatment prematurely or seek alternative therapies if they experience intolerable side effects, leading to suboptimal management of anemia and potentially reducing market demand for specific drugs.
Emphasis on R&D
The ongoing research and development associated with the anemia drugs is estimated to bring opportunities for the market players by driving innovation, improving treatment efficacy, and expanding therapeutic options.
Researchers are continually exploring new mechanisms of action and formulations to enhance the effectiveness of anemia drugs. This includes developing innovative iron formulations with improved bioavailability and reduced side effects, as well as exploring alternative pathways to stimulate erythropoiesis beyond traditional ESAs.
With advancements in understanding the genetic and molecular basis of anemia, there is a growing emphasis on best medicine for anemia.
Biomarker discovery and genetic testing are facilitating the identification of patient subgroups that may benefit from tailored treatment regimens, optimizing outcomes and reducing healthcare cost.
Beyond traditional indications such as iron deficiency anemia and chronic kidney disease-associated anemia, ongoing research and development is exploring new therapeutic areas.
Newer areas include anemia related to inflammatory disorders, hematologic malignancies, and rare genetic disorders, thereby broadening the market scope and addressing unmet medical need.
Growing Awareness Regarding Anemia in Developing and Emerging Countries
Growing consciousness about anemia in both developing and undeveloped countries is anticipated to create new opportunities for the market in the years to come.
Developing countries are increasingly investing in healthcare infrastructure and improving access to healthcare services. This includes expanding healthcare facilities, training healthcare professionals, and implementing awareness campaigns focused on common health issues like anemia.
As awareness grows, more individuals are likely to seek diagnosis and treatment for anemia, thereby expanding the market for anemia drugs. Pharmaceutical companies and healthcare providers are forming partnerships and collaborations to address the unique challenges of anemia treatment in developing countries.
Such collaborations focus on improving drug accessibility, affordability, and distribution networks to ensure that anemia drugs reach underserved populations effectively.
The Iron Deficiency Anemia Category Leads the Market
Iron deficiency Anemia Drugs Market is highly prevalent worldwide, particularly in developing countries where access to nutritionally adequate diets may be limited.
The condition affects millions of individuals across various age groups and demographics, driving consistent demand for iron supplementation and other therapeutic interventions.
Iron deficiency anemia holds the largest revenue share as of 2023. This type of anemia occurs due to low iron levels in the body, leading to decreased red blood cell production. Treatment primarily involves the administration of iron supplements to replenish iron stores and support red blood cell formation.
Healthcare guidelines and recommendations emphasize the importance of early detection and treatment of iron deficiency anemia, particularly in high-risk populations such as pregnant women and individuals with chronic illnesses. This proactive approach encourages healthcare providers to prescribe iron supplements and monitor treatment efficacy, further driving market growth.
North America Continues to Hold the Most Substantial Market Share
North America holds a significant market share of the market for anemia drugs owing to the well-established increase in lifestyle diseases and chronic diseases such as diabetes, cancer and others in the region.
The region's aging population and lifestyle factors contribute to the increasing incidence of these conditions, thereby driving demand for anemia drugs to manage associated anemia.
The US, and Canada boast advanced healthcare infrastructure characterized by well-developed hospital networks, specialized clinics, and sophisticated diagnostic capabilities. This infrastructure supports timely diagnosis and treatment of anemia, enhancing market penetration and uptake of anemia drugs.
North America leads in technological advancements and innovation in the pharmaceutical sector.
Companies continuously invest in research and development to enhance existing therapies, develop novel Advanced drug formulations, and explore biotechnological approaches such as biologics and gene therapies for anemia. These innovations contribute to market differentiation and sustained growth.
Collaborations, partnerships, and licensing agreements are common strategies employed by companies to enhance their product pipelines and expand market presence.
Strategic alliances with academic institutions, research organizations, and healthcare providers facilitate access to novel technologies, intellectual property, and regulatory expertise, accelerating drug development timelines and market entry strategies.
Global expansion strategies enable companies to penetrate new geographic markets and capitalize on emerging opportunities.
Expansion efforts may involve establishing partnerships with local distributors, navigating regulatory landscapes in different regions, and adapting marketing strategies to suit diverse healthcare systems and patient demographics.
February 2023
GSK Plc (GSK.L) achieved a milestone with the FDA approval of Jesduvroq, a groundbreaking oral medication designed to treat anemia caused by chronic kidney disease in adults undergoing dialysis for at least four months. This approval marks Jesduvroq as the first of its kind—an oral treatment offering convenience and potential benefits in managing a challenging condition.
September 2022
Pharmacosmos A/S, a Danish pharmaceutical company, finalized a significant agreement with Zydus Lifesciences to market MonoFerric (iron-isomaltose) injections in India and Nepal. This strategic move aims to address the treatment gaps in iron deficiency anemia, particularly for adult patients where oral iron therapies prove ineffective or impractical, or when rapid iron delivery is clinically necessary.
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Details |
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Forecast Period |
2024 to 2031 |
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Historical Data Available for |
2019 to 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon request |
By Anemia Type
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The market is projected to reach a value of US$13.7 Bn by the end of 2031.
The market is projected to expand at a CAGR of 7.8% from 2024 to 2031.
Keryx Biopharmaceuticals, Inc., Amgen Inc., and Pfizer Inc are some of the key players operating in the market.
North America emerges as the leading regional market.
A key opportunity lies in the growing awareness of anemia in developing and undeveloped countries.
