LONDON, June 15, 2023 /PRNewswire/ — Anaemia is a disorder occurrence by the deficiency of red blood cells or decreasing amount of haemoglobin in the blood. It often leads to extreme weakness, fatigue, pale skin and irregular heartbeat, among others. There are several types of drugs used in the treatment of anaemia including Vitamin B12 supplements, iron supplements, Erythropoiesis-Stimulating Agents (ESAs), and folic acid supplements, among others. These drugs are administered based on the underlying cause and specific needs of the patient.
The business intelligence report on Anaemia Drugs Market by Brandessence Market Research is curated with an aim to empower the businesses with holistic knowledge on this industry. It entails a scrutiny of the top growth drivers, opportunities, restraints, and challenges. It further provides accurate statistical data on past valuation, present growth rate, and projected revenue of this industry. A granular assessment of the major segments, regions, and key players is also incorporated in this report with aim to empower businesses with deeper understanding on the size and scope of this industry vertical.
Key Takeaways
- Anaemia Drugs Market to grow with a CAGR of 11.20% over 2022-2029.
- Rising prevalence of anaemia, unhealthy eating habits of the masses, and booming pharmaceutical sector are aiding market expansion.
- MEA is projected to account for a high revenue share due to the increased prevalence of anaemia and rapidly improving diagnostics and testing facilities.
Anaemia Drugs Market was valued at USD 26292.3 Million in 2018 and expected to reach USD 55279.2 Million by 2025 with the CAGR of 11.20% over the forecast period.
Elaborating the Key Trends and Dynamics of Anaemia Drugs Market
Rising prevalence of anaemia, unhealthy eating habits of the masses, and booming pharmaceutical sector are the primary factors aiding the outlook of this industry vertical. Alongside, increased susceptibility of women to anaemia due to reproductive or menstrual disorders is another growth propellent for this marketplace. Moreover, rising anaemia cognizance among individuals and surging R&D activities in the field are adding traction to the industry progression.
Major Growth Drivers
High occurrence of anaemia- There has been a rising prevalence of anaemia worldwide. Lack of proper nutrition, rising elderly population, and chronic ailments, among others are the primary reasons leading to anaemia. This in turn is stimulating the overall dynamics.
Surging medical expenditure- Many countries are making huge investments to enhance their healthcare expenditure. Pharmaceutical companies, hospitals, and clinics are being set up at a rapid pace. This has led to the greater availability of anaemic drugs across the globe.
Challenges
High cost- Anaemic drugs are costly in nature. Low incomed and marginalized populations find it difficult to afford these medicines. This economic disparity is obstructing the growth of this marketplace.
Competitive Landscape of Anaemic Drugs Market
The prominent players defining the competitive terrain of this industry are Amgen Inc., Meda Cuonsumer Healthcare Inc., Johnson and Johnson, Emmaus Medical Inc., Keryx Biopharmaceuticals Inc., Abbvie Inc., GlaxoSmithKline plc, Pfizer Inc., Allergan Inc., Hoffmann La Roche AG, and others.
Segmental Assessment
By anaemia type, the sickle cell anaemia segment is expected to amass notable gains over 2022-2029. This is ascribed to the increased awareness on this ailment and surge in the elderly populace.
Based on end user, the hospitals segment is anticipated to generate significant returns owing to the rising demand for quality healthcare and advent of advanced medical technologies.
Geographical Analysis and Landscape
Middle East & Africa Anaemia Drugs Market
MEA is projected to account for a high revenue share over the stipulated timeline. This is credited to the increased prevalence of anaemia, rapidly improving diagnostics and testing facilities, along with rising healthcare expenditure. Besides, there has been a surging focus of government bodies on the prevention, early diagnosis, and treatment of anaemia, creating a favourable environment for the masses to access quality healthcare. This is positively swaying the industry dynamics.
Europe
Europe is slated to emerge as one of the fastest growing regions in this marketplace. This is attributable to the surging geriatric population base, rising R&D investments, and widespread population expansion. Alongside, the presence of well-structured healthcare reimbursement systems and increasing focus on women’s health are adding traction to the market development.
Opportunities in this industry
Surge in aging population- aged individuals are highly prone to anaemia. This can be due to nutritional deficiencies, chronic diseases, and medication use. As the number of elderly individuals increases, the demand for anaemia drugs also rises, thereby bolstering market growth.
Major Developments in Anaemia Drugs Market
Acquisitions
In December 2018, Akebia Therapeutics, a biopharmaceutical company, acquired Keryx Biopharmaceuticals, a company specializing in renal disease treatments.
In January 2020, Novartis, a leading pharmaceutical company, acquired The Medicines Company, a biopharmaceutical company focused on cardiovascular diseases.
Porter’s Five Forces Analysis
Threat of New Entrants: The anaemia drugs market has a moderate threat of new entrants. Developing new drugs and gaining regulatory approvals can be challenging and require significant investments in research and development. Additionally, established pharmaceutical companies already hold a substantial market share, making it difficult for new entrants to penetrate the market.
Bargaining Power of Suppliers: The bargaining power of suppliers in the anaemia drugs market is relatively high. Suppliers, such as raw material providers and contract manufacturers, play a crucial role in the production and supply of anaemia drugs. The availability and cost of raw materials, as well as the quality and reliability of suppliers, can significantly impact the profitability and competitiveness of pharmaceutical companies.
Bargaining Power of Buyers: The bargaining power of buyers in the anaemia drugs market is moderate. Buyers, such as healthcare providers and patients, have some leverage in negotiating prices, especially in regions with stringent price controls and cost-containment measures. However, the critical nature of anaemia drugs and the limited availability of alternative treatment options can limit the bargaining power of buyers to some extent. Additionally, the presence of insurance coverage and reimbursement policies can influence buyer decisions.
Threat of Substitutes: The threat of substitutes in the anaemia drugs market is relatively low. While there may be non-pharmacological approaches or alternative therapies for managing anaemia, such as dietary modifications or blood transfusions, pharmaceutical drugs remain the primary and most effective treatment option for many patients. The specific mechanisms of action and targeted therapeutic benefits of anaemia drugs make them difficult to replace with substitutes.
Competitive Rivalry: The competitive rivalry in the anaemia drugs market is high. The market is characterized by the presence of several established pharmaceutical companies competing for market share. Intense competition drives innovation, pricing strategies, and marketing efforts to differentiate products and gain a competitive edge. Additionally, the market is subject to patent expirations, generic competition, and the emergence of biosimilars, further intensifying competition among players.
On Special Requirement Anaemia Drugs Market Report is also available for below region:
North America
Europe
- Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APA
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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