PUBLISHER: The Business Research Company | PRODUCT CODE: 1425919
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425919
Vitamin D Therapy Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vitamin d therapy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vitamin d therapy? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vitamin d therapy market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Vitamin D therapy involves the use of supplements commonly prescribed to treat and prevent vitamin D deficiency. These supplements contribute to the regulation of calcium and phosphorus levels in the body and play a crucial role in maintaining proper bone structure. Vitamin D therapy is also considered in cases of depression where a vitamin D deficiency is identified.
The administration methods for vitamin D therapy include oral and parenteral routes. Oral administration involves ingestion through the mouth. Various purchasing options are available, including over-the-counter (OTC) drugs and prescription drugs. These supplements cater to diverse age groups, including children, adults, and senior citizens, addressing conditions such as osteoporosis, rickets, skin diseases, muscle weakness, and autoimmune disorders.
The vitamin D therapy market research report is one of a series of new reports from The Business Research Company that provides vitamin D therapy market statistics, including vitamin D therapy industry global market size, regional shares, competitors with vitamin D therapy market share, detailed vitamin D therapy market segments, market trends, and opportunities, and any further data you may need to thrive in the vitamin D therapy industry. This vitamin D therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The vitamin d therapy market size has grown rapidly in recent years. It will grow from $2.63 billion in 2023 to $2.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth observed in the historical period can be attributed to several factors, including the increasing awareness of vitamin D deficiency, a rise in the incidence of bone disorders, the aging population, and the prevalence of osteoporosis. Additionally, scientific research highlighting the benefits of vitamin D, an increase in lifestyle-related diseases, and medical recommendations for supplementation have played a significant role in the historical growth of vitamin D therapy.
The vitamin d therapy market size is expected to see rapid growth in the next few years. It will grow to $4.80 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The anticipated growth in the forecast period can be attributed to ongoing efforts in awareness and education, a rising geriatric population, the integration of vitamin D in chronic disease management, technological advances in formulations, global health initiatives, and an increased focus on personalized nutrition. Major trends expected in the forecast period include the expansion of applications beyond bone health, government initiatives promoting supplementation, innovations in formulations and delivery methods, a heightened focus on clinical research and evidence-based practices, and the expansion of the global market. These trends indicate a broader recognition of the multifaceted benefits of vitamin D therapy and an increased emphasis on its applications in various health and wellness contexts.
The projected increase in malnutrition cases is set to drive substantial growth within the vitamin D therapy market. Malnutrition, encompassing deficiencies or excesses in nutrient intake, contributes to a widespread prevalence of vitamin D deficiency, particularly among inpatients, which is linked to heightened long-term mortality rates without adequate vitamin D treatment. An article by the World Health Organization in June 2021 highlighted the global issue, citing approximately 1.9 billion adults facing overweight or obesity, alongside 462 million experiencing underweight conditions in 2020. Moreover, an estimated 149 million children under 5 years old were stunted, 45 million wasted, and 38.9 million faced overweight or obesity. This mounting prevalence of malnutrition cases underscores the driving force behind the escalating demand for vitamin D therapy solutions.
The rise in chronic diseases is anticipated to propel the demand for vitamin D therapy. Chronic conditions like Alzheimer's disease, rheumatoid arthritis, Parkinson's disease, and cancer exhibit associations with vitamin D deficiency. Research consistently links inadequate vitamin D levels to increased risks of various chronic ailments such as cardiovascular diseases, diabetes, and certain cancers. Notably, the National Cancer Institute (NCI) reported 1,806,590 new cancer cases and 606,520 related deaths in the US alone in 2020. Furthermore, projections indicate a surge to 29.5 million new cancer cases annually by 2040, with 16.4 million deaths. With vitamin D playing a vital role in immune regulation, cardiovascular health, and metabolic function, its supplementation becomes crucial in managing chronic diseases, thus fostering the growth of the vitamin D therapy market.
Product innovation stands out as a significant trend shaping the vitamin D therapy market. Leading companies in this domain are actively introducing novel products to reinforce their market position. An exemplar of this trend is DSM Pharma Solutions, a Netherlands-based pharmaceutical company, launching a new vitamin D3 powder in February 2021. Vitamin D3, essential for bone and muscle health and bolstering immune function, is often challenging to acquire through limited food sources or sunlight exposure. DSM Pharma Solutions' innovative vitamin D3 powder aims to address these challenges, providing an efficient solution to achieve healthy vitamin D levels in the bloodstream. This emphasis on innovation characterizes the ongoing evolution and growth within the vitamin D therapy market.
Prominent players within the vitamin D therapy market are actively pursuing partnerships to fortify their market presence and strategic positioning. These partnerships signify structured affiliations between commercial enterprises, typically established through business agreements or contracts. An illustration of this strategy is Dishman Carbogen Amcis Ltd., an India-based pharmaceutical company, which forged a partnership with Boston University School of Medicine in May 2021. This collaborative effort aims to delve into insights regarding the treatment of vitamin D deficiency in obesity and fat malabsorption syndromes, ultimately aiming to develop and provide effective treatments for patients. Boston University School of Medicine, based in the US, brings its expertise to this strategic collaboration.
In June 2022, Nestle Health Science, a Switzerland-based nutritional science company, made an undisclosed acquisition of The Better Health Company (TBHC). This strategic acquisition is anticipated to synergize with Nestle's global portfolio, specifically enhancing its active lifestyle and health & wellness nutrition brands. Additionally, it positions Nestle Health Science to expedite growth by leveraging TBHC's manufacturing facility in Auckland, facilitating the swift introduction of new products into local markets. The Better Health Company, based in the US, brings its expertise in natural health products to complement Nestle's strategic objectives, signaling a strategic move towards bolstering their market presence and product offerings in the health and wellness domain.
Major companies operating in the vitamin d therapy market report are Abbott Laboratories, Sanofi SA, GlaxoSmithKline PLC, Pfizer Inc., Merck & Co Inc., Torrent Pharmaceuticals Ltd., Novartis International AG, Alkem Laboratories Ltd., Sun Pharmaceutical Industries Ltd., Cadila Healthcare Ltd., Biotics Research Corporation, Solvay Pharma India Pvt. Ltd., Forgo Pharmaceuticals Ltd., Mankind Pharmaceuticals Pvt. Ltd., Cipla Ltd., Ortho Molecular Products, Zhejiang Garden Biochemical High-tech Co. Ltd., Glenmark Pharmaceuticals Ltd., Dr. Reddy's Laboratories Ltd., Emcure Pharmaceuticals Ltd., Intas Pharmaceuticals Ltd., Lupin Ltd., Macleods Pharmaceuticals Ltd., Mylan N.V., Sunovion Pharmaceuticals Inc., Teva Pharmaceutical Industries Ltd., Biocare Medical LLC, Mitsubishi Chemical Group, Zydus Cadila, DSM Nutritional Products AG, BASF SE, Fermenta Biotech Ltd., Taizhou Hisound Pharmaceutical Co. Ltd.
North America was the largest region in the vitamin D therapy market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vitamin d therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the vitamin d therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vitamin D therapy market consists of sales of plain vitamin D therapy and active vitamin D analog (or D-hormone) therapy. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.