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Iron Supplements Market By Type (Oral Iron Therapy, Parental Iron Therapy, Red Blood Cell Therapy, Other Therapy Types) By End User (Pregnancy Consumer, Ordinary Consumer, Anemia Consumer, Others) By Form (Tablet, Liquid, Capsules, Syrup) By Application (Additional Supplements, Sports Nutrition, Medicinal Supplements) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2028

What is the Global Consumption of Iron Supplements?

The global consumption of Iron Supplements increased to more than 2.32 billion tons in 2021 and is projected to witness substantial growth in the near future. In 2021, North America dominated the global market consumption. Increased demand for iron supplements has resulted from an increase in chronic diseases caused by low iron levels in the body. The primary driver of the iron supplement market is iron-deficient anemia. The condition develops when the body does not receive enough iron through red blood cells.

What is the Market Size of Iron Supplements in terms of value?

Global Iron Supplements Market is projected to increase at a significant CAGR of 3.8% in the coming years. In 2021, the global iron supplements market was valued at USD 4145.2 Million and is projected to reach a value of USD 5184.7 million by 2028. The demand for the iron supplements market is projected to increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD 1039.5 million during the forecast period between 2022 and 2028.

What is the impact of Covid 19 on the Iron Supplements Market?

From vaccine development to pharmaceutical supply chain planning, pharmaceutical companies are working with governments worldwide to battle the COVID-19 outbreak. Around 115 vaccine candidates and 155 chemicals are currently developed in the R&D pipeline. Moreover, regularly used drugs such as hydroxychloroquine have demonstrated a substantial surge in demand for COVID-19 treatment. Manufacturers of COVID-19 management medications have a lot of opportunities due to the high demand for these therapies, as key wealthy countries are running out of them. The pharmaceutical and biotech industries are expected to grow significantly due to increased demand for COVID-19 vaccines and treatment drugs. As a result, the iron supplement market is projected to be substantially impacted. 

Interesting Facts about Iron Supplements Industry

  • The top 5 countries for iron supplement exports are Australia, China, India, Russia, and Brazil.
  • The top 5 importers of iron supplements are China, Japan, the United States, South Korea, and Germany.
  • Creased demand for iron supplements has resulted from an increase in chronic diseases caused by low iron levels in the body. Iron supplements are commonly prescribed for pregnant women to combat phases of hemodilution anemia, increasing market growth even more.
  • Iron supplement market growth is expected to be hampered by a lack of understanding and widespread misconceptions about new treatments. 
  • In terms of volume and value, the North American region dominated the worldwide iron supplements market in 2021, and this dominance is expected to continue during the forecast period.
  • Anemia Consumer end users witness high growth during the forecast period.

Who are the Top 10 players/companies in the iron supplements market regarding value and volume?

The key players in the global iron supplements market in value and volume include Amieson, Pronova Corporation, Olly Nutrition, Walgreens, Mineral BioSciences, Nature Made, Ferro Sequels, NovaFerrum, Twinlab, and ACGrace. These major players are focusing on new product development and technological innovation to improve their iron supplements production and achieve a competitive market share on a global scale. Furthermore, some regional and country-level players are significantly investing in expanding their product variety and increasing sales. For instance, in January 2020, PHARMACOSMOS A/S' ferric derisomaltose injectable was approved by the US Food and Drug Administration to treat iron deficiency anemia in people who had an intolerance response to oral supplements or who were not on hemodialysis for chronic kidney disease.

Who are the Top 10 Countries in the Iron Supplements Market?

The major global iron supplements market countries are China, India, the U.S., Canada, Mexico, the U.K., Germany, France, Russia, Spain, and Australia. The market's growth was influenced positively by fast rising disposable income and increasing acceptance of a healthy lifestyle. For example, India's discretionary spending and per capita income are expected to increase by 45 percent and 10.2 percent by 2025. The Asia Pacific market, particularly for herbal and ayurvedic extract-based products, is likely to be ripe for investment. This is owing to India's and Southeast Asia's easy availability and abundant raw materials. 

Which is the Key Type of the Iron Supplements Market?

The oral Iron Therapy segment dominates the market. Iron Supplement Pill is an oral (by mouth) medication used to treat iron deficiency. It may also be used for other conditions that the doctor determines. Iron Supplement Pills are available in various formats that do not require a prescription (OTC). Iron Pill is a supplement that supplies iron to the body. This sort of tablet aids in the production of hemoglobin, which subsequently aids in the transfer of oxygen throughout the body. Iron tablets are available as oral and intravenous (IV) therapy for people who require an immediate influx of iron supplements. In non-emergency situations, taking these types of drugs regularly or before rigorous exercise is advisable to have enough energy to complete your workout without becoming too winded.

What are the Major Driving Factors for Iron Supplements Market?

Increased demand for iron supplements has resulted from an increase in chronic diseases caused by low iron levels in the body. In some circumstances, low iron levels can cause symptoms like poor concentration, weariness, sickness, and hemodilution anemia. Iron supplements can assist in reversing the effects of low iron levels in the body. Tablets, capsules, and oral Red Blood Cell Therapy are all options for these vitamins. These supplements include various amounts of elemental iron, which binds to the bloodstream and raises the body's iron levels. However, these supplements may cause nausea and diarrhea in the short term. In addition, iron supplements are commonly prescribed for pregnant women to combat phases of hemodilution anemia, increasing market growth even more.

Additionally, the primary driver of the iron supplement market is iron-deficient anemia. The condition develops when the body does not receive enough iron through red blood cells. It can cause developmental delays in newborns, severe exhaustion, and an increased risk of cardiovascular disease in the elderly, necessitating the use of supplements to boost iron levels in the body.

What are the Major Restraints for Iron Supplements Market?

Iron supplement market growth is expected to be hampered by a lack of understanding and widespread misconceptions about new treatments. Furthermore, some people may get stomach cramps, nausea, and diarrhea from taking iron supplements. You may need to take iron with a fair bit of food to avoid this problem.

Which Region Dominated the World Iron Supplements Market?

The North American area is expected to be one of the most profitable markets during the projected period, owing to the region's growing population and rising health awareness among residents. Due to increased health concerns about anemia among pregnant women, children, and adolescent girls, Latin America is predicted to be the second-largest market in revenue. Due to increased health problems such as iron deficiency among the population, Europe is likely to hold a significant market share. Because of the rising incidence of anemia and rising disposable income, Asia-Pacific is expected to be one of the growth markets, particularly in China and India. Finally, due to increasing health concerns, the Middle East and Africa are likely to become one of the most profitable markets for iron supplements.

Segmentation of Global Iron Supplements Market-

Global Iron Supplements Market – By Type

  • Oral Iron Therapy
  • Parental Iron Therapy
  • Red Blood Cell Therapy
  • Other Therapy Types

 Global Iron Supplements Market – By End User

  • Pregnancy Consumer
  • Ordinary Consumer
  • Anemia Consumer
  • Others

Frequently asked questions about the global Iron Supplements industry.

Because of the demand for COVID-19 vaccines and treatment medications, the pharmaceutical and biotechnology sectors are likely to increase significantly in the future. As a result, the iron supplement market is projected to be significantly impacted.

In terms of both value and volume, North America had the largest share of the worldwide iron supplements.

Increased demand for iron supplements has resulted from an increase in the number of chronic diseases caused by low iron levels in the body.

Oral Iron Therapy had a significant market share in 2021, accounting for more than 40% of total revenue.

Anemia Consumer commanded a large share of the global market in 2021, and this dominance is expected to continue during the forecast period.

Iron Supplements Market Scope

Report Attribute Details
Market Value in 2021 USD 4145.2 Million
Market Value in 2028 USD 5184.7 million
CAGR 3.8%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Aug 2022
Category:  Food & Beverage
Report ID:   58515
Report Format:   PDF
Pages:   180
Rating:    4.8 (80)
Delivery Time: 24 Hours to 48 Hours   
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