Iron Deficiency Anemia Market : Future scenarios and growth drivers - Allied Market Research
Allied Market Research
PORTLAND, OR, UNITED STATES, May 12, 2023 /EINPresswire.com/ -- Iron deficiency anemia is a condition in which the body does not have enough iron to produce hemoglobin, the protein in red blood cells that carries oxygen throughout the body. It is a common type of anemia and can be caused by a variety of factors, including poor diet, blood loss, and certain medical conditions. The global iron deficiency anemia treatment market is expected to grow in the coming years, driven by the increasing prevalence of the condition, the rising awareness about iron-rich diets and supplements, and the growing demand for effective treatments.
By product, the market is segmented into oral iron supplements, intravenous (IV) iron supplements, and others. The oral iron supplements segment is expected to hold the largest market share due to the easy availability and affordability of these supplements.
By end-user, the market is segmented into hospitals, clinics, and others. The hospitals segment is expected to hold the largest market share due to the availability of advanced healthcare infrastructure and the increasing prevalence of iron deficiency anemia among hospitalized patients.
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North America is expected to dominate the iron deficiency anemia treatment market due to the presence of a large number of pharmaceutical companies, high R&D investment, and supportive government initiatives. Europe and Asia-Pacific are also expected to witness significant growth during the forecast period.
North America along with Asia-Pacific and Europe is the largest market for iron deficiency anemia. The US is seen to be the leading player in North America in terms of revenue for the iron deficiency anemia market. The number of patients is the main reason for the expansion of the market in Asia-Pacific. Thus, Africa and Asia-Pacific will be the most attractive markets in the coming years, especially emerging countries such as China, India, Brazil and Japan due to the development of health infrastructure, insurance players, economic growth and private health sector. Raising awareness among people.
For example, the government of Sierra Leone (Africa) worked with the Strengthening Partnership Results and Innovation in Nutrition Globally (SPRING) in 2014-2015 to create a multi-sectoral program to address issues at the national level. At the national level, the program SPRING aims to launch in close collaboration with Nepal, Uganda, Ghana and the Kyrgyz Republic of Sierra Leone.
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Rising awareness among the people, increasing incidence of Iron deficiency anemia patients, use of iron supplements during pregnancy are likely to run the market in the long run. Additionally, sedimentary lifestyles, rise in diseases are also factors responsible to drive the market of Iron Deficiency anemia.
The global outbreak of the COVID-19 is seen to be an unprecedented event. There are disruptions in the supply chain of essential medical supplies and medical devices in the year 2020, especially due to trade and travel restrictions in the Asia-Pacific countries, Europe, and U.S.
For the prevention of the rapid spread of COVID-19 globally, medical treatments were classified as essential and elective procedures. All these procedures were canceled or postponed during the first half of 2020.
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This study presents the analytical depiction of the global iron deficiency anemia market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the Iron deficiency anemia market share.
The current market is quantitatively analyzed to highlight the global Iron deficiency anemia market growth scenario.
Porterโs five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global iron deficiency anemia market analysis based on competitive intensity and how the competition will take shape in the coming years.
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