Total Iron Binding Capacity Reagents Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | < 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Total Iron Binding Capacity Reagents Market Analysis
The total iron binding capacity reagents market is expected to register a CAGR of 5% during the forecast period.
The COVID-19 pandemic significantly impacted the total iron binding capacity reagents market due to the global lockdown and travel restrictions which caused the scarcity of the laboratory reagent. For instance, as per January 2021, update by ASM, shortages of the medium, reagents, collection devices, and consumables significantly impacted day-to-day testing for both COVID-19 and other diseases during the pandemic. However, with the resumption of laboratory services and decreasing cases of COVID-19, the studied market is expected to recover from the decline of COVID-19 over the forecast period.
The increasing prevalence of iron deficiency anemia has been driving the growth of total iron-binding capacity reagent markets, as these tests have been carried out to check the diseases. Iron deficiency anemia is common in women's population due to the menstrual cycle, boosting the TIBC reagents market. For instance, according to the Ministry of Health and Family Welfare December 2022 update, the prevalence of anemia among six groups as per the National Family Health Survey (2019-21), was 25.0% in men (15-49 years) and 57.0% in women (15-49 years), 31.1% in adolescent boys (15-19 yrs), 59.1% in adolescent girls, 52.2% in pregnant women (15-49 years) and 67.1% in children (6-59 months). Thus, the increasing burden of iron deficiency anemia among the population requires effective diagnosis, which is expected to fuel the market growth over the forecast period. Moreover, TIBC-related research studies across the globe are expected to utilize the regents and thereby drive market growth. For instance, as per the article published in August 2022 in Thieme journal, the study compared different methods of TIBC estimation and correlated the TIBC values obtained by different methods with serum TF concentration. Among different methods of estimation of TIBC, the direct method was found to be more reliable about serum TF levels.
Hence, due to the high prevalence of iron deficiency diseases and the rise in research and development utilizing the total iron binding capacity reagents, the studied market is expected to witness significant market growth over the forecast period. However, limited product availability and the time-consuming nature of the TIBC assays are expected to restrain the market growth.
Total Iron Binding Capacity Reagents Market Trends
Iron Deficiency Anemia Segment is Expected to Hold a Significant Market Share in the Total Iron Binding Capacity Reagents Market.
Iron deficiency anemia is expected to hold a significant market share over the forecast period owing to the factors such as an increase in the prevalence of iron deficiency anemia, and a rise in research and development. For instance, as per the December 2022 update by Walter and Eliza Hall Institute of Medical Research, anemia is a common condition both in Australia and around the world, affecting over 1.5 billion people worldwide. It is particularly prevalent in certain population groups: in Australia around 12% of women, 8% of pre-school-aged children, and 20% of people over 85 years are anemic. This results in the adoption of tests for diagnosis, thereby, boosting the segment growth of the TIBC reagents market. Moreover, It is very important to maintain iron levels in the body, as the human body needs iron for oxygen transport. These tests have been widely used to diagnose the targeted patient pool, and hence, drive the revenue growth of the total iron binding capacity reagent market.
Furthermore, as per the article published in March 2022 in AJDR, the researchers compared the amount of salivary iron and total iron-binding capacity (TIBC) levels of patients with iron deficiency anemia and healthy individuals. Based on the results of the study, significant changes were found in the salivary amount of iron and TIBC of patients with iron deficiency anemia corresponding to the serum levels of iron and TIBC, thus saliva could be considered as a diagnostic substance for the detection of Fe deficiency anemia. Hence, such research studies are likely to use the reagents for TIBC and thereby leading to market growth. Moreover, strategic activities such as product launches, collaborations, partnerships, funding, acquisitions, and mergers by the key market players are expected to boost market growth. For instance, in May 2022, Randox, the Northern Ireland-based diagnostics and personalized health company delivered a EUR 10 million (USD 10.6 million) investment in the program, which discovers and develops new methods of prevention, early detection, and treatment of diseases and health conditions.
Therefore, due to the high prevalence of iron deficiency anemia and the rise in research and development utilizing the total iron binding capacity reagents, the studied segment is expected to witness significant market growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the total iron binding capacity reagents market due to the increasing prevalence of iron deficiency anemia, the increase in healthcare expenditures, and the rise in research and development across the region. The need to reduce the burden of iron deficiency anemia had led to an increase in demand for its diagnosis and treatment thereby, promoting the growth of the total iron-binding capacity reagents market. For instance, as per the November 2022 update from the University of British Columbia, the research investigated iron deficiency prevalence among 60 pregnant women in Metro Vancouver and found that over 80% of them were likely iron-deficient in late pregnancy despite taking daily prenatal supplements that provided 100% of the daily iron recommendation in pregnancy. Thus, such iron deficiencies in women are expected to drive the market for TIBC reagents since, the assays of total iron binding capacity require more reagents, thereby fueling the market growth over the forecast period.
Moreover, an increase in research studied and developments in total iron binding capacity are expected to increase the opportunity for the market studied. For instance, NIH is estimated to fund USD 20 million for the research and development activities for the disease Cooley's anemia in 2023. Such research finding for the studies related to anemia is expected to drive the market growth over the forecast period.
Thus, due to the high prevalence of iron deficiency anemia and the rise in research and development utilizing the total iron binding capacity reagents, North America is expected to witness significant market growth over the forecast period.
Total Iron Binding Capacity Reagents Industry Overview
The total iron binding capacity reagents market is consolidated in nature. Some of the companies that are currently dominating the market are Randox Laboratories Ltd, Biosystems SA, Sekisui Diagnostics LLC, Thermo Fisher Scientific, Siemens Healthineers and DiaSys Diagnostic Systems GmbH among others.
Total Iron Binding Capacity Reagents Market Leaders
Randox Laboratories Ltd
Biosystems S.A.
Sekisui Diagnostics, LLC
Thermo Fisher Scientific
Siemens Healthineers
*Disclaimer: Major Players sorted in no particular order
Total Iron Binding Capacity Reagents Market News
- In February 2023, Jaipur's JKL hospital upgraded its diagnostic test facilities by adding 10 more tests to its list to be provided free of cost to the patients. The 10 new tests at JKL hospital include Ionic Calcium Serum, Iron Total, Iron Binding Capacity, Reticulocyte Count, Immune Platelet Fraction, Procalcitonin CRP, Alpha-Fetoprotein, Dimer Antinuclear Antibody.
- In December 2022, the Federation of Obstetrics and Gynaecological Societies of India (FOGSI) launched a campaign that aimed to bring holistic health awareness to Indian women, especially anemia prevention.
Total Iron Binding Capacity Reagents Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Patient Pool Suffering from Iron Deficiency
4.2.2 Increasing R&D Expenditure
4.3 Market Restraints
4.3.1 Limited Product Availability and Time Consuming Nature of the TIBC Assays
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Disease Type
5.1.1 Iron Deficiency Anemia
5.1.2 Iron Deficiency in Late Pregnancy
5.1.3 Others
5.2 By End User
5.2.1 Hospitals
5.2.2 Clinics
5.2.3 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Randox Laboratories Ltd
6.1.2 Biosystems SA
6.1.3 Merck KGaA
6.1.4 Sekisui Diagnostics LLC
6.1.5 Abcam plc.
6.1.6 Thermo Fisher Scientific
6.1.7 DiaSys Diagnostic Systems GmbH
6.1.8 Siemens Healthineers
6.1.9 Q-LINE BIOTECH PVT. LTD
6.1.10 Anamol Laboratories Pvt. Ltd
6.1.11 Elabscience Biotechnology Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Total Iron Binding Capacity Reagents Industry Segmentation
As per the scope of the report, total iron-binding capacity is the test used for measuring the blood capacity to bind iron with transferrin. TIBC reflects iron status, levels are elevated when iron levels are low; therefore it is useful in the diagnosis and monitoring of iron deficiency anemia and iron deficiency in late pregnancy. The Total Iron Binding Capacity Reagents Market is Segmented by Disease Type (Iron Deficiency Anemia, and Iron Deficiency in Late Pregnancy, Others), End User (Hospitals, Clinics, Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America). The report offers the value (in USD million) for the above segments.The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Disease Type | |
| Iron Deficiency Anemia | |
| Iron Deficiency in Late Pregnancy | |
| Others |
| By End User | |
| Hospitals | |
| Clinics | |
| Others |
| Geography | ||||||||
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Total Iron Binding Capacity Reagents Market Research FAQs
What is the current Total Iron Binding Capacity Reagents Market size?
The Total Iron Binding Capacity Reagents Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)
Who are the key players in Total Iron Binding Capacity Reagents Market?
Randox Laboratories Ltd, Biosystems S.A., Sekisui Diagnostics, LLC, Thermo Fisher Scientific and Siemens Healthineers are the major companies operating in the Total Iron Binding Capacity Reagents Market.
Which is the fastest growing region in Total Iron Binding Capacity Reagents Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Total Iron Binding Capacity Reagents Market?
In 2024, the North America accounts for the largest market share in Total Iron Binding Capacity Reagents Market.
What years does this Total Iron Binding Capacity Reagents Market cover?
The report covers the Total Iron Binding Capacity Reagents Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Total Iron Binding Capacity Reagents Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Total Iron Binding Capacity Reagents Industry Report
Statistics for the 2024 Total Iron Binding Capacity Reagents market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Total Iron Binding Capacity Reagents analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
