Anemia Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Anemia Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The anemia treatment market is expected to register a CAGR of 7.3% over the forecast period, period (2022-2027).

The COVID-19 crisis does not only have health impacts but also has impacted labor shortages, raw material shortages, and container shortages that had impacted demand-supply equilibrium in the market. As per research, on 24 January 2022, a supply chain crisis impacted the healthcare industry, including the market for anemia treatment globally due to inflation and constraints in the supply chain. Global imbalances, measures for energy control, and interruptions in the supply chain in China as COVID-19 cases have restrained the supply process and impacted the anemia treatment market. Higher shipping costs are increasing the costs of producing anemia treatment supplements in the market.

Most industries across the world have been impacted over the last few years. This can be attributed to significant disruptions experienced by their respective manufacturing and supply-chain operations because of various precautionary lockdowns, as well as other restrictions that were enforced by governing authorities across the world. The same applies to the global anemia treatment market. The market witnessed a mixed impact, As Iron metabolism and anemia may play an important role in multiple organ dysfunction during the COVID-19 pandemic. Patients with iron deficiency are more susceptible to coronavirus. Hence, companies in the iron deficiency anemia treatment market have increased their output capacities to avoid supply shocks for medications in pharmacies and hospitals. For instance, in October 2020, Novartis received the European Commission's approval for the drug Adakveo (crizanlizumab) for pain crises in patients with sickle cell anemia. It is the first targeted sickle cell disease therapy for the reduction and prevention of anemia complications. They are increasing efforts to identify risk factors that can help to optimize hospital resources and create awareness about public health recommendations. The potential association between anemia and coronavirus has compelled pharmaceutical companies to boost their output capacities of drugs and other medications. This is likely to drive the anemia treatment market.

Additionally, the pandemic has squeezed the demand and donor base of blood supplies. Lockdown and travel restrictions resulted in a decline in the number of donors and the cancellation of numerous drives across the globe. According to American Red Cross Blood Services factsheet published in September 2021, more than 50,000 blood drives were canceled or moved due to the pandemic in March 2020. As a result, the demand for blood transfusions and bone marrow transplants decreased. Thus, the aforementioned factors would have a significant impact on market growth.

The Anemia treatment market is expected to witness robust growth over the forecast period which is majorly attributed to the increasing cases of anemia across the globe, increasing pipelines for anemia drugs, and an increasing number of women of reproductive age. As per the National Family Heath Survey published in November 2021, Anemia has increased in children between the ages of 6 and 59 months to 67.1% in 2020. In women between the ages of 15 and 49 years, it has increased to 57% in pregnant women, it has gone up to 52.2% in 2020.

The National Institute of Health published in 2020, has stated that anemia affects around one-third of the world population and contributes to increased morbidity and mortality, decreased work productivity, and impaired neurological development. The population which is more vulnerable to this disease is the children below the age of 5 years and pregnant women. Efforts are being made to reduce the burden of this disease. For instance, the WHO Global Nutrition Target 2025 on anemia aims to reduce anemia in women of reproductive age (WRA) by 50% by 2025. Hence, with such efforts, there will be an increase in the number of people going for treatment and ultimately the market will grow.

However, lack of awareness about the treatment in developing regions and the high cost of drugs is expected to hamper the growth of anemia treatment.

Key Market TrendsIron Deficiency Anemia to Witness Healthy CAGR Over the Forecast Period

Iron deficiency anemia is the most common type of anemia in which the blood does not have an adequate amount of red blood cells that carry oxygen to the body's tissues. As per the National Institute of Health, Iron Deficiency Anemia is one of the main nutritional deficiency disorders affecting large fractions of the population, particularly such physiological groups as children, menstruating women, and pregnant women. For instance: In 2020, as per the World health organization (WHO) factsheet published in February 2021, the total prevalent cases of Iron deficiency anemia were 30,829,734 in the United States. Thus, increasing cases of iron deficiency anemia are pushing patients to the treatment process for adequate hemoglobin and blood supply in the body. The same source also stated that Iron deficiency anemia is often underdiagnosed and undertreated, as some people may not have any symptoms at first. In the European countries, the total diagnosed prevalent cases of iron deficiency anemia was 4,277,646 in 2020. Additionally, the source also stated that females are more likely to be afflicted by iron deficiency anemia than men. In 2020, the total number of iron deficiency anemia cases in women's health was estimated to be 2,060,787. Similarly in Asian countries such as India and China, iron deficiency anemia is posing a burden with the increasing prevalence of the disease among women. Therefore, it is believed that the segment will witness healthy growth over the forecast period.

While, as per the national library of medicine studies published in November 2021, When a patient is diagnosed with iron deficiency anemia, an iron-rich diet, and oral iron supplements can help treat the majority of mild-to-moderate iron deficiency anemia cases. It is accessed that 9,266,923 cases received first-line oral therapies. Some of the patients who have received first-line oral treatments fail and move to second-line oral medications such as Feraccru (Accrufer) and Auryxia (Riona). Moreover, some proportion of patients who receive second-line oral treatments and who have severe iron deficiency anemia will proceed to IV iron therapy. Thus, in this way the segment is rising rapidly.

The growing prevalence of Chronic Kidney Disease (CKD), Inflammatory Bowel Disease (IBD), and cancer around the globe have led to an increase in the need for intravenous iron drugs for the treatment of subsequent Iron Deficiency Anemia (IDA), which is expected to propel market growth. For instance, According to the National Kidney Foundation, Inc. study published in August 2021, the two major causes of Chronic Kidney Disease are diabetes and hypertension. Data from the same source also indicates an estimated 10% of the global population is affected by chronic kidney disease, with over 2 million individuals receiving dialysis regularly. The majority of these individuals are typically seen across countries such as Italy, the United States, Germany, Japan, and Brazil. A vast majority of individuals suffering from the disease are not aware until serious symptoms manifest. It is estimated that the incidence of chronic kidney cases will rise across developing economies, such as India and China, which implies an increase in the geriatric population over the coming years. With the growing prevalence of these diseases, the need for intravenous iron drugs has risen significantly. Furthermore, approval and launch of novel formulations and strategic initiatives undertaken by key players to improve access to intravenous iron drugs are further expected to support market growth. For instance, in September 2020, the Daiichi Sankyo Company, Ltd. announced the establishment of its wholly-owned subsidiary Daiichi Sankyo Vietnam Company Limited. This initiative was undertaken to enhance the company’s business platform in Asia.

North America Dominates the Market

North America dominated the overall anemia treatment market, with the United States being the major contributor to the market. Anemia is one of the most common blood disorders in recent times. In September 2021, According to the National Heart, Lung, and Blood Institute (NHLBI), an estimated 3 million individuals suffer from anemia in the United States which is rising the prevalence of target diseases, such as rheumatoid arthritis, autoimmune diseases, kidney conditions, cancer, liver disorders, thyroid diseases, and inflammatory bowel diseases which is responsible for anemia deficiency that is generating the demand for anemia treatment, a major factor facilitating the growth of the market. Some of the most common forms of anemia are iron and vitamin deficiency, plastic, hemolytic, and sickle cell. Some of the common causes of anemia are iron, vitamin A and B12, and folate deficiencies. Infectious diseases such as tuberculosis, parasitic infections, malaria, and HIV are major causes of anemia across the country. Data from the World health organization published in October 2021, indicates that approximately 42% of children below the age of 5 and 40% of pregnant women are suffering from some form of anemia in the United States.

Similarly, the presence of a strong key market player with a strong pipeline aids in the market growth in the region. For instance, Global Blood Therapeutics in the United States has a strong pipeline in the different phases of clinical trials such as Voxelotor (Phase IV), Voxelotor hope-kids1(Phase IV), Inclacumab (Phase II), GBT021601 (Phase II), Hbf Inducer, Anti- sicking, Inflammation and Oxidative Stress Reduction, etc. These drugs are expected to be launched during the forecast period.

Additionally, increasing births with sickle cell anemia in America will increase the demand for the anemia treatment market. According to a report of the National Institute of Health published in the National Center of Biotechnology Information in 2021, sickle cell disease (SCD) is a multisystem disorder and the most common genetic disease in the United States, affecting 1 in 500 African Americans. Also, about 1 in 12 African Americans carry the autosomal recessive mutation, and approximately 300,000 infants are born with sickle cell anemia annually. Thus, the aforementioned factors together are expected to favor the growth of the studied market in the region.

Competitive Landscape

The market for anemia treatment is moderately competitive with the presence of most the international companies. Companies are focusing on developing drugs or therapies to treat anemia. Entry to this market is difficult as the company has to go through stringent regulations. However, it is believed that in the future, few small to mid-sized companies will be entering the market and gaining a substantial share. The key players operating in this market are Akebia Therapeutics, Bluebird Bio, Inc., GlaxoSmithKline Plc., Global Blood Therapeutics, Inc., Pieris Pharmaceuticals, Inc., Sanofi, Takeda Pharmaceutical Company, AbbVie Inc. (Allergan Plc), Pharmacosmos A/S, Pfizer Inc. and AMAG Pharmaceuticals Inc.

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