Total Iron Binding Capacity Reagents Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 355.30 Million |
| Market Size (2029) | USD 447 Million |
| CAGR (2024 - 2029) | 4.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Total Iron Binding Capacity Reagents Market Analysis
The Total Iron Binding Capacity Reagents Market size is estimated at USD 355.30 million in 2024, and is expected to reach USD 447 million by 2029, growing at a CAGR of 4.70% during the forecast period (2024-2029).
Factors such as the rising patient pool suffering from iron deficiency and increasing R&D expenditure are expected to boost the market growth during the forecast period.
The increasing prevalence of iron deficiency anemia has driven the growth of the total iron-binding capacity reagent markets. Iron deficiency anemia is common in women's population due to the menstrual cycle, boosting the total iron binding capacity (TIBC) reagents market. For instance, according to the Ministry of Health and Family Welfare December 2022 update, the prevalence of anemia among six groups was 25.0% in men and 57.0% in women aged 15-49 years) and 31.1% of adolescent boys (15-19 years) in the last two years.
In addition to the above context, about 59.1% of adolescent girls were suffering from iron deficiency, followed by 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 during the forecast period.
Moreover, various research studies were conducted to compare different methods of TIBC estimation and to correlate the TIBC values obtained by different methods with serum TF concentration. For instance, as per the article published in August 2022 in Thieme journal, the means of TIBC by calculated, indirect, and direct methods were 344.51, 342.23, and 378.24 µg/dL, respectively. The study showed that the direct method of TIBC is more dependable for diagnosing serum transferrin (TF) levels than other methods. This is expected to increase the use of the direct TIBC method for estimating total iron binding capacity (TIBC), leading to market growth.
Hence, due to the high prevalence of iron deficiency diseases and the rise in research and development utilizing total iron binding capacity reagents, the market is expected to grow significantly during 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
The Iron Deficiency Anemia Segment is Expected to Hold a Significant Market Share in the Total Iron Binding Capacity Reagents Market.
Iron deficiency anemia is when the amount of healthy red blood cells is less than the adequate level in the blood. A total iron-binding capacity (TIBC) is a crucial laboratory test for diagnosing iron metabolism disorders and inflammatory diseases. It measures the blood's ability to attach itself to iron and transport it around the body.
The segment is expected to hold a significant market share during the forecast period owing to factors such as an increase in the prevalence of iron deficiency anemia and a rise in research and development.
The burden of iron deficiency is increasing among the population owing to sedentary lifestyles, pregnancy, and menstrual cycle among women. For instance, according to an article published in the International Journal of Pediatrics in March 2024, the overall prevalence of iron deficiency anemia in Southwestern Uganda was 41.5%, and the factors associated with iron deficiency anemia included male sex, current episodes of diarrhea, and poor meal frequency.
Additionally, as per the December 2022 data from Walter and Eliza Hall Institute of Medical Research, the prevalence of iron deficiency was high among the women population in Australia, followed by people over 85 years and pre-school-aged children. Thus, the high population suffering from anemia raises the demand for effective diagnosis of the condition, propelling the demand for diagnostic tests. This, in turn, is anticipated to fuel the growth of the TIBC reagents market during the forecast period.
In a study published in the Advanced Journal of Dentistry Research in March 2022, researchers compared salivary iron and total iron binding capacity (TIBC) levels in individuals with iron deficiency anemia and those who were healthy. The study's findings revealed significant variations in salivary iron and TIBC levels in patients with iron deficiency anemia, mirroring their serum counterparts. This suggests that saliva could serve as a diagnostic tool for detecting iron deficiency anemia, further propelling the demand for TIBC reagents for conducting tests, hence anticipated to drive the segment growth.
Moreover, strategic activities such as product launches, collaborations, partnerships, funding, acquisitions, and mergers by the key market players are expected to accelerate the development of reagents for TIBC in the market, boosting segment growth. For instance, in May 2022, Randox 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 segment is expected to witness significant market growth during the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same During the Forecast Period
North America is expected to register 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 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, a November 2022 study by the University of British Columbia investigated the prevalence of iron deficiency among 60 pregnant women in Metro Vancouver in 2022.
In addition to the above context, the research revealed that even though these women were consuming daily prenatal supplements meeting 100% of the recommended iron intake, over 80% were still likely iron-deficient in the later stages of 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, fueling the market growth during the forecast period.
Thus, North America is expected to witness significant market growth during the forecast period due to the high prevalence of iron deficiency anemia and the rise in research and development utilizing total iron binding capacity reagents.
Total Iron Binding Capacity Reagents Industry Overview
The total iron binding capacity reagents market is consolidated in nature. The key players focus on adopting key strategic activities such as collaborations, partnerships, and new product launches to retain their market position. Some of the key players in the market are Randox Laboratories Ltd, Biosystems SA, Sekisui Diagnostics LLC, Thermo Fisher Scientific, Siemens Healthineers, and DiaSys Diagnostic Systems GmbH.
Total Iron Binding Capacity Reagents Market Leaders
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Randox Laboratories Ltd
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Biosystems S.A.
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Sekisui Diagnostics, LLC
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Thermo Fisher Scientific
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Siemens Healthineers
*Disclaimer: Major Players sorted in no particular order
Total Iron Binding Capacity Reagents Market News
- February 2024: The Indian Academy of Pediatrics (IAP) launched a nationwide campaign, 'IAP Ki Baat, Community Ke Saath,' an anemia awareness campaign to raise awareness about anemia and other crucial child health issues. Such an initiative creates the need to test iron binding capacity, further propelling the demand for TIBC reagents in the market.
- February 2023: Jaipur's JKL hospital upgraded its diagnostic test facilities by adding ten more tests to its list to be provided free of cost to the patients. The ten new tests at JKL hospital include ionic calcium serum, iron total, iron binding capacity, reticulocyte count, immune platelet fraction, procalcitonin CRP, alpha-fetoprotein, and dimer antinuclear antibody.
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
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4.2 Market Drivers
- 4.2.1 Rising Patient Pool Suffering from Iron Deficiency
- 4.2.2 Increasing R&D Expenditure
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4.3 Market Restraints
- 4.3.1 Limited Product Availability and Time Consuming Nature of the TIBC Assays
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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)
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5.1 By Disease Type
- 5.1.1 Iron Deficiency Anemia
- 5.1.2 Iron Deficiency in Late Pregnancy
- 5.1.3 Other Disease Types
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5.2 By End User
- 5.2.1 Hospitals
- 5.2.2 Clinics
- 5.2.3 Other End Users
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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
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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
** Subject To AvailablityTotal Iron Binding Capacity Reagents Industry Segmentation
As per the scope of the report, total iron binding capacity is the test used to measure the blood capacity to bind iron with transferrin. TIBC indicates iron status; elevated when iron is low; helpful in diagnosing and monitoring iron deficiency anemia and late pregnancy iron deficiency.
The total iron binding capacity reagents market is segmented by disease type, end user, and geography. By disease type, the market is segmented by iron deficiency anemia, iron deficiency in late pregnancy, and other disease types. By end user, the market is segmented by hospitals, clinics, and other end users. By geography, the market is divided into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report offers the value (USD) for the above segments.
| By Disease Type | Iron Deficiency Anemia | |
| Iron Deficiency in Late Pregnancy | ||
| Other Disease Types | ||
| By End User | Hospitals | |
| Clinics | ||
| Other End Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Total Iron Binding Capacity Reagents Market Research FAQs
How big is the Total Iron Binding Capacity Reagents Market?
The Total Iron Binding Capacity Reagents Market size is expected to reach USD 355.30 million in 2024 and grow at a CAGR of 4.70% to reach USD 447 million by 2029.
What is the current Total Iron Binding Capacity Reagents Market size?
In 2024, the Total Iron Binding Capacity Reagents Market size is expected to reach USD 355.30 million.
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, and what was the market size in 2023?
In 2023, the Total Iron Binding Capacity Reagents Market size was estimated at USD 338.60 million. 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.
