Market Size of Total Iron Binding Capacity Reagents Industry
| 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 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 |
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Total Iron Binding Capacity Reagents Market Size Summary
The total iron binding capacity (TIBC) reagents market is poised for growth, driven by the increasing prevalence of iron deficiency anemia and the resurgence of laboratory services post-COVID-19. The pandemic had previously disrupted the supply chain, affecting the availability of essential laboratory reagents. However, as healthcare systems stabilize, the demand for TIBC reagents is expected to rise, fueled by the need for effective diagnosis of iron deficiency anemia, particularly among women and vulnerable populations. The market is also benefiting from ongoing research and development activities that utilize these reagents, as studies continue to explore innovative diagnostic methods and correlations with serum iron levels. Despite challenges such as limited product availability and the complexity of TIBC assays, the market is set to expand, supported by strategic initiatives from key players and increasing healthcare expenditures.
North America is anticipated to hold a significant share of the TIBC reagents market, attributed to the high prevalence of iron deficiency anemia and robust research and development efforts in the region. The demand for accurate diagnosis and treatment options is driving market growth, with studies highlighting the prevalence of iron deficiency even among those receiving prenatal supplements. The market's consolidation is evident with major companies like Randox Laboratories, Biosystems SA, and Thermo Fisher Scientific leading the charge. Additionally, strategic activities such as product launches and collaborations are expected to further propel market expansion. As awareness campaigns and healthcare initiatives continue to address anemia prevention, the TIBC reagents market is poised for substantial growth over the forecast period.
Total Iron Binding Capacity Reagents Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Patient Pool Suffering from Iron Deficiency
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1.2.2 Increasing R&D Expenditure
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1.3 Market Restraints
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1.3.1 Limited Product Availability and Time Consuming Nature of the TIBC Assays
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Disease Type
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2.1.1 Iron Deficiency Anemia
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2.1.2 Iron Deficiency in Late Pregnancy
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2.1.3 Others
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2.2 By End User
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2.2.1 Hospitals
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2.2.2 Clinics
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2.2.3 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Total Iron Binding Capacity Reagents Market Size 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.
