The global ferrous fumarate market size is expected to witness potential gains in the future, and register a significant CAGR of 15.74% over the forecast period (2019 - 2027).
Ferrous fumarate is the iron (II) salt of fumaric acid used for the prevention and treatment of iron-deficiency anemias. It is used as a dietary supplement and its administration results in elevation of serum iron concentration, which is then assimilated into hemoglobin. Hemoglobin carries oxygen through blood to tissues and organs. Ferrous fumarate is used for the treatment of thalassemia, iron deficiency anemia, fatigue, and anemia. It is also used for diagnostic assessment.
Increasing prevalence of anemia and thalassemia is expected to boost growth of the global ferrous fumarate market. Anemia is a condition characterized by lack of red blood cells to carry adequate oxygen to the body's tissues. Women in the childbearing years are highly vulnerable to anemia and iron-deficiency. Ferrous fumarate tablets can be consumed orally and are easy to swallow. These tablets can be crushed or chewed as they are almost tasteless. It acts as an iron supplement to treat or prevent low blood levels of iron.
However, there are many restrictions in use of ferrous fumarate. Ferrous fumarate is not recommended to those suffering from liver or kidney disease and porphyria. Consuming ferrous fumarate is also associated with some side effects such as constipation, black stool, stomach pain, abdominal bloating, flatulence, and abdominal pain.
Among regions, North America is expected to hold dominant position in the global ferrous fumarate market over the forecast period. This is majorly attributed to presence of key pharmaceutical companies in the region. Asia Pacific is expected to witness the fastest growth rate in the market, owing to increasing prevalence of anemia in the region. Moreover, significant growth in the pharmaceutical industry in economies such as India and China is also expected to contribute to the global market size. Key players in the market can focus on expanding their business in emerging regions such as Africa and Middle East to enhance their market share. Africa, South East Asia, and the Eastern Mediterranean are the regions with high prevalence of anemia
Some of the manufacturers operating in the global ferrous fumarate market include, Vifom Pharma, Ironwood Pharmaceuticals, Galenica group, Allied Biochem Pvt. Ltd., Lonye Technology Limited, Shreeji Industries, and Henan Sinotech Import & Export Corporation.