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Anemia In Elderly Market Size Expansion: A Snapshot of Growth Between 2024 and 2029
There has been a significant increase in the market size for anemia in the elderly in the past few years. The market is projected to rise from $2.75 billion in 2024 to $2.99 billion in 2025, with a compound annual growth rate (CAGR) of 8.8%.
Factors contributing to this progression in the historical period include nutritional deficiencies, chronic illnesses, inflammation, disorders in bone marrow, and blood loss.
The market for anemia in the elderly is anticipated to witness robust growth in the coming years, reaching a sizeable $4.22 billion by 2029, with a compound annual growth rate (CAGR) of 9.0%. The predicted growth during the forecast period can be attributed to factors such as an aging population, increasing incidence of chronic ailments, advancement in diagnostic instruments, escalating awareness of healthcare, and better treatment accessibility.
Foremost trends projected for the forecast period encompass diagnostics powered by AI, wearable health tracking devices, sophisticated tools for blood analysis, incorporation of telehealth, and customized medicine solutions.
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Key Drivers Behind the Expansion of the Anemia In Elderly Market: Insights and Trends
The rise in the elderly population is predicted to amplify the expansion of the market for anemia in the elderly. The demographic of people aged 65 and older, whose numbers and proportion are on the upswing in many societies and globally, makes up the elderly population.
This surge can be attributed to factors such as greater life expectancy, falling birth rates, and the maturation of sizable age groups. Age-related and chronic conditions, which are common among the elderly and often result in anemia, are becoming more widespread due to this rise in the elderly population.
This, in turn, drives the need for anemia diagnoses, management and treatment, subsequently propelling the market. For example, statistics from the UK’s Office for National Statistics (ONS) in July 2024 indicated that the number of UK residents aged 65 or older rose to 12.7 million in 2022, up from 11 million in 2021.
Hence, the swelling elderly population is fuelling the expansion of the anemia in the elderly market.
Which Segments in the Anemia In Elderly Industry Are Seeing the Fastest Growth?
The anemia in elderlymarket covered in this report is segmented –
1) By Product Type: Tablets, Injectable
2) By Treatment: Iron Supplements, Erythropoietin Or Erythrocyte-Stimulating Agents, Vitamin B12 Supplements, Folic Acid Supplements
3) By Route Of Administration: Oral, Parenteral
4) By End User: Hospital pharmacy, Online Pharmacy, Retail pharmacy
Subsegments:
1) By Tablets: Iron Supplements; Vitamin B12 Supplements; Folic Acid Tablets; Erythropoiesis-Stimulating Agents (ESAs) Tablets
2) By Injectable: Iron Injections; Vitamin B12 Injections; Erythropoiesis-Stimulating Agents (ESAs) Injections; Folic Acid Injections
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Which New Trends Will Create Growth Opportunities in the Anemia In Elderly Market?
Leading businesses in the market for anemia in the elderly are focusing on technological innovations, including personalized treatments, to enhance the treatment process, improve patient experiences, minimize side effects, and boost overall healthcare efficiency. Personalized treatments are medical processes tailored according to the unique characteristics of each patient.
For instance, in March 2024, Cadila Pharmaceuticals, a pharmaceutical corporation based in India, unveiled Redshot FCM, an innovative iron injection developed specifically for treating iron deficiency anemia in patients who are unable to tolerate oral iron. Redshot FCM is an intravenous iron preparation that provides sufficient iron and showcases an exceptional safety profile.
The injection comprises a progressed Ferric Carboxymaltose formulation that optimizes iron delivery and absorption. Through Redshot FCM, Cadila Pharmaceuticals shows its commitment to enhancing healthcare by devising personalized treatments that consider individual patient details, resulting in more effective treatment results for iron deficiency anemia.
Which Global Regions Are Powering Demand in the Anemia In Elderly Market?
North America was the largest region in the anemia in elderly market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the anemia in elderly market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How Key Players Are Driving Growth in the Anemia In Elderly Market?
Major companies operating in the anemia in elderly market are Johnson & Johnson, Roche Holding AG, Merck & Co Inc, Bristol-Myers Squibb Company, AstraZeneca plc, Novartis International AG, Takeda Pharmaceutical Company Limited, Amgen Inc, Japan Tobacco Inc, Fresenius Medical Care AG, Teva Pharmaceutical Industries Ltd, Sandoz International GmbH, CSL Limted, Daiichi Sankyo Company Limited, Amag Pharmaceuticals, Akebia Therapeutics Inc, Pharmacosmos A/S, Rockwell Medical Inc, Bioage Labs Inc, Shield Therapeutics Plc, MegaPro Biomedical Co Ltd
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