High Prevalence of Chronic Disease Such as Kidney around the Globe Is Driving the Growth of the Ioversol Market

 

Ioversol , otherwise known as IOU peroxide, is used as a dialysis anticoagulant in hospitals for the treatment of dialysis patients and is used commercially for the treatment of toothache. It is an oxidizing agent for internal applications in the human body. The Ioversol chemical name is Isoflavones and contains seven carbon atoms with one hydrogen atom in common with many substances derived from plants (Isoflavones). Isoflavones are commonly found in fruits such as strawberry and lemon, and also in egg yolk and some vegetables, notably artichokes, parsley, beets, carrots, leek, and kidney beans. Ioversol (Iodine-Orient-containing Nutrient suspension) is generally used for the relief of inflammation and to treat infections, to prevent or reduce bleeding, as dialysis therapy and to increase blood flow and oxygenate blood

The growing prevalence of bone-related disorders is a prime factor driving the growth of the ioversol market. Increasing geriatric population around the globe which is increasing the prevalence of the various chronic disease. This has raised the demand for a various diagnostic tool such as X-ray which is another key factor fueling the growth of the market. According to the United Nation, by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). By 2050, one in four persons living in Europe and Northern America could be aged 65 or over. The rise in spending on the healthcare sector by government for improving the patient care is further anticipated to propel the growth of the ioversol market.

North America is projected to gain significant growth over the forecast period and this is attributed to the high prevalence of the bone-related disorder in the region which. In 2017, the number of Canadians affected by osteoporosis had increased to 2 million. By the year 2030, the number of hip fractures is expected to quadruple. Moreover, In Canadians of 40 years or older, 1.5 million (10%) reported having been diagnosed with osteoporosis. Thus the high prevalence of bone a related disorder is projected to foster the growth of the ioversol market.

Key Developments:

1.      In December 2020, Guerbet (GBT), a global provider of medical imaging, announced that it received US Food and Drug Administration approval for the commercial sale of the Optiray® Imaging Bulk Package (IBP) (Ioversol Injection) in the United States.