Iron deficiency anemia is a microcytic anemia caused by a lack of iron to produce adequate heme. It is usually a chronic condition resulting from decreased iron intake, absorption, or increased iron requirements or loss. Diagnosis involves a low MCV, MCH and Hb on CBC along with low serum iron, ferritin and transferrin saturation on iron profile tests. Peripheral smear shows microcytic hypochromic red blood cells that are sometimes pencil-shaped or pear-shaped. Bone marrow iron staining will be absent in iron deficiency anemia.