Sales in the global anemia treatment market growth are slated to top US$ 10.0 Bn in 2022. With sales growing at a healthy 6.9% CAGR, the market size is projected to total US$ 14.9 Bn by 2028.
Ongoing development of enhanced distribution channels and new manufacturing hubs by key players in emerging economies, such as Brazil, India, and China is expected to boost the market. Rising number of pipelines for acute anemia treatment drugs worldwide will continue augmenting the growth in the market.
The high rate of nutritional deficiency owing to the consumption of alcohol and tobacco is driving sales of aplastic anemia treatment drugs. Increasing prevalence of chronic diseases and improper nutritional diet, especially in underdeveloped countries will spur demand in the market over the forecast period.
How The Market Progressed Till June 2022?
The comparative analysis and market growth rate of global anaemia treatment market as studied by Future Market Insights, will show a negative BPS growth in H1-2022 outlook as compared to H1-2022 projected period by 150 BPS. A decline in BPS growth is expected in H1-2022 over H1- 2021 duration with 223 Basis Point Share (BPS).
The market is subject to changes due to new drug approvals, growing disease prevalence, rise in lifestyle associated concerns, and technological advancements.
In order to eliminate the medical problem among women working in manual labour, pharmaceutical companies are running iron supplementation programmes. However, low supplements compliance, latent symptoms, and a lack of programme monitoring are impeding market expansion. This is associated with the reduction in the BPS values for the market.
Furthermore, the market is highly influenced by the recent boost in the pharmaceutical production facilities, as well as growing R&D activities for disease therapeutics. Key developments in the market include the emergence of new pharmacological anti-sickling approaches, gene therapies, and advances in haematopoietic stem cell transplantation.
Anemia Treatment Market Outlook in Comparison to 2022-2028 Growth Forecast
The anemia treatment market is expected to register 6.9% CAGR between 2022 and 2028, up from 7.3% CAGR recorded during 2013-2021, projects Future Market Insights.
Rising investments in research and development activities by key drug manufacturers to develop and distribute therapeutically effective medicaments, such as chelating agents, antibiotics, ESAs, and dietary supplements will drive the market.
Players are also focusing on the introduction of novel drugs for aplastic anemia treatment that would help in providing superior-quality healthcare in emerging economies.
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According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), it is estimated that more than 1 out of every 7 people with kidney disease suffer from anemia. Spurred by the aforementioned factors, the market is likely to showcase rapid growth in the forthcoming years.
How is Rising Incidence of Iron Deficiency Influencing Sales?
The high risk of iron deficiency anemia in pregnant women is expected to propel the sales of novel drugs for iron anemia treatment in the forthcoming years. This mainly happens as the volume of blood increases in the body during pregnancy and the body starts using iron to make more blood to supply oxygen to the fetus.
The urgent need for iron deficiency anemia treatment options as it can often cause premature births and postpartum depression is expected to boost sales. This condition can also lead to the death of infants immediately before or after birth, also resulting in low birth weight in babies.
Why is the Increasing Geriatric Population Boosting Sales?
Growing geriatric population across the globe is likely to fuel the demand for cutting-edge drugs for iron anemia treatment. Growth is attributable to the inadequate absorption or intake of iron among older people.
Numerous underlying causes, such as the rising prevalence of various chronic ailments, especially infections and cancers among the aging population are underpinning the need for anemia treatment drugs. As per the World Health Organization (WHO), cancer accounted for about 10 million deaths in 2020 globally. These cases are expected to surge in future, thereby spurring demand in the market.
Country-wise Insights
What is the U.S. Anemia Treatment Market Outlook?
“Presence of Favorable Reimbursement Policies to Drive Sales of Drugs for Iron Anemia Treatment”
The early adoption of technologically advanced treatment options in the U.S. is a major factor that is expected to boost the market over the forthcoming years. Consistent introduction of favorable reimbursement policies by the government is anticipated to accelerate sales in the U.S. market.
As per the American Family Physician, the prevalence of iron deficiency anemia is about 20% in black and Mexican-American women, 9 to 12% in non-Hispanic white women, and nearly 2% in adult men. Approximately 9% of patients older than 65 years with this condition have gastrointestinal cancer. These numbers are estimated to grow in the near future, thereby propelling the sales of drugs for iron anemia treatment.
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How is the U.K. Anemia Treatment Market Progressing?
“Lack of Iron Intake to Propel the Demand for Novel Aplastic Anemia Treatment Options”
Increasing incidence of iron deficiency among indiciduals in the U.K. will continue driving sales over the forecast period. The presence of innovative technologies and changing lifestyle patterns are other crucial factors that are expected to drive the demand for drugs for aplastic anemia treatment in the U.K.
Increasing per capita income and the entry of several established companies are leading to the surging number of research and development activities in this country. Rising number of new product launches is also set to augment the growth in the market.
Why is China Anemia Treatment Market Witnessing High Demand?
“Governments are Taking Initiatives to Deliver Affordable Acute Anemia Treatment Drugs”
Various government initiatives to provide cost-effective acute anemia treatment drugs in China are likely to augur well for the East Asia market. Rising awareness among people regarding the treatment and diagnosis of this disease is also expected to boost sales.
In November 2020, for instance, researchers from numerous educational institutions based in China conducted a study to evaluate the prevalence of iron deficiency anemia and anemia in pregnant women. They found that nearly 13.9% of Chinese women were diagnosed with iron deficiency anemia, while around 19.8% were diagnosed with anemia. The increasing number of similar research studies in this country is anticipated to fuel the market.
Category-wise Insights
Which is the Most Preferred Anemia Treatment Option?
“Medications for Sickle Cell Anemia Treatment are Exhibiting High Demand”
By treatment, the medications segment is anticipated to dominate the global anemia treatment market. Increasing usage of biologics, such as Erythropoietin Stimulating Agents (ESAs) is likely to propel the sales of medications for sickle cell anemia treatment.
In addition to this, growing number of FDA approvals for numerous biosimilars is expected to provide various benefits to patients living with the anemia of chronic kidney disease. Easy patient access to unique ESAs and the high demand for cost-effective biosimilar medications are set to create new growth opportunities for key players operating in the market.
Which Disease Segment is Likely to Lead the Anemia Treatment Market?
“Acute Anemia Treatment Options are Demanded by Normocytic Anemia Patients”
Based on disease, sales in the normocytic anemia segment are projected to gain traction over the forecast period. Growing prevalence of congenital disorders, such as sickle cell disease across the globe is set to push demand in the segment.
Other long-term chronic diseases, such as thyroiditis, kidney disease, rheumatoid arthritis, and cancer can also cause normocytic anemia in people. As per the Centers for Disease Control and Prevention (CDC), in the U.S. around 58.5 million adults had some form of arthritis, fibromyalgia, or lupus from 2013 to 2015. Thus, rising cases of various chronic diseases worldwide is projected to boost the need for acute anemia treatment options.
Which Distribution Channel is Most Preferred for Anemia Treatment Drugs?
“Availability of Medications for Sickle Cell Anemia Treatment to Surge Sales from Institutional Pharmacies”
In terms of distribution channel, the institutional pharmacies segment is set to account for nearly 55.9% of the global anemia treatment market share in 2022, finds FMI. Easy availability of a wide range of medications for sickle cell anemia treatment is likely to drive the segment over the assessment period.
According to FMI, the retail pharmacies and mail order pharmacies segments are expected to generate account for 38.0% and 6.1% of total market share in 2022, respectively. The ability of retail pharmacists to provide customers with personalized advice that would pertain to their specific circumstances and health needs will boost sales. Mail order pharmacies, on the other hand, are considered to be cost-effective as they eliminate the need to physically visit pharmacies.
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Competition Landscape
Leading players operating in the global anemia treatment market are focusing on adopting various marketing strategies to expand their geographical presence and product portfolios. Some of the other key players are striving to join hands with international and local retailers to distribute their in-house acute anemia treatment medications. Meanwhile, a few renowned companies are aiming to develop innovative drugs and gain approval from regulatory bodies for marketing. For instance:
- In February 2022, the U.S. Food and Drug Administration (FDA) approved Pyrukynd (mitapivat) tablets for the treatment of hemolytic anemia in adult patients living with Pyruvate Kinase (PK) deficiency. The drug’s effectiveness was evaluated by conducting two studies. In the single-arm study, its effectiveness was examined based on the reduction in transfusion burden, whereas in the randomized study, it was based on the hemoglobin response.
- In February 2022, the European Commission approved Global Blood Therapeutics, Inc.’s Oxbryta (voxelotor) to treat hemolytic anemia in patients suffering from sickle cell disease between the age group of 12 years and above. It is the first medicine that was approved in Europe for destroying red blood cells and directly inhibiting the molecular basis of sickling.
Anemia Treatment Market by Category
By Treatment:
- Medications
- Dietary Supplements
By Disease:
- Normocytic anemia
- Microcytic anemia
- Macrocytic anemia
By Distribution Channel:
- Institutional Pharmacies
- Retail Pharmacies
- Mail Order Pharmacies
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