Anemia Drugs Market to Reflect Steady Growth Rate by 2025
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 causes low transfer of oxygen to the rest of the body. Anemia is easily preventable and treated however, there are mild or vague symptoms for detection of anemia due to which anemia mostly goes undetectable. Commonly, the symptoms such as weakness or fatigue due to exercise, malaise and sometimes poor concentration are observed in patients with anemia. In addition, as the anemia progresses patients suffer from shortness of breath due to exertion, increase in cardiac output leading to palpitations, sweeting and heart failure. Anemia is commonly found in patients with nutrition deficiency (poor iron or vitamin diet), chronic diseases (such as cancer, kidney diseases, diabetes, etc.), chronic infections (such as HIV, tuberculosis, etc.) and high blood loss (due to injury, menstrual bleeding, surgery etc.). 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 the major driving factor 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 anemia drugs market. The increase in anemia due to lack of proper nutritional diet in undeveloped countries are increasing the anemia drugs market. 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. However, 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. The ongoing research and development associated with the anemia drugs and increasing awareness of anemia in developing and undeveloped countries is anticipated to create new opportunities for the market during the forecast period.
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The global anemia drugs market is segmented on basis of anemia type, drugs, distribution channel and geography
Based on anemia type, the global anemia drugs market is segmented into the following:
- Microcytic (Low MCV)
- Iron deficiency
- Others (Sideroblastic anemia, lead toxicity,etc)
- Normocytic (Normal MCV)
- High Reticulocyte Count (hereditary, blood loss, hemangioma, sickle cell anemia,etc)
- Low Reticulocyte Count (Diamond blackfan syndrome, anemia due to renal diseases and chronic diseases, etc)
- Macrocytic (High MCV)
- Vitamin deficiency
Based on drugs, the global anemia drugs market is segmented into the following:
- Dietary supplements
- Iron supplements
- Vitamin supplements
- Folic Acid
- Vitamin C
- Vitamin B12
- Hormones (Erythropoietin )
- Chelation therapy (lead poisoning)
Based on distribution channel, the global anemia drugs market is segmented into the following:
- Hospitals Pharmacy
- Online Pharmacy
The rise in intake of NSAIDs due to hectic lifestyle such as aspirin and ibuprofen leading to ulcers and gastritis that causes anemia is significantly increasing the market growth, globally. The increasing awareness of anemia drugs in developing countries is anticipated to increase the market growth. Furthermore, the increase in research and development associated with the anemia drugs is expected to fuel the anemia drugs market growth during the forecast period. For instance, in November 2017, FDA approved Auryxia® (ferric citrate) Tablets as a Treatment for People with Iron Deficiency Anemia and Chronic Kidney Disease, Not on Dialysis.
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North America holds a significant market share of the Anemia Drugs market owing to the well-established increase in lifestyle diseases and chronic diseases such as diabetes, cancer and others. Furthermore, Asia Pacific and Middle East & Africa regions are anticipated to show considerable growth rate owing to increase in government investment in healthcare sector and increasing awareness of the anemia in the region.
Some of the key players present in global anemia drugs market are Amgen Inc., Keryx Biopharmaceuticals, Inc., GlaxoSmithKline plc, Pfizer Inc., Emmaus Medical Inc., Allergan Inc., Meda Cuonsumer Healthcare Inc., F. Hoffmann La Roche AG, Abbvie Inc, Johnson and Johnson, and others. The companies are focusing on research and development of new drugs to increase their market share in the anemia drugs market.