Macrocytic anemia, characterized by an MCV greater than 100, can be classified into megaloblastic and non-megaloblastic types based on bone marrow findings. Megaloblastic anemia results from vitamin B12 or folic acid deficiencies, leading to impaired DNA synthesis and specific hematological findings like oval macrocytes and hypersegmented neutrophils. Treatment involves addressing the underlying deficiencies through supplementation and dietary changes, with considerations for conditions such as pernicious anemia that may complicate vitamin B12 absorption.