The latest market report published by Credence Research, Inc. “Global Vitamin D Therapy Market – Growth, Future Prospects, Competitive Analysis, 2019- 2027,” the global vitamin D therapy market was valued at US$ 1,919.4 Mn in 2018, and is expected to reach US$ 4,721.9 Mn by 2027, expanding at a CAGR of 10.6% from 2019 to 2027.
Osteoporosis is a disease manifested by low bone density, deterioration of bone tissue and depleted bone strength which increases the risk of fracture. It is one of the most common cause of mortality in the elderly patients and young children suffering with malnutrition. The risk factors associated with vitamin D deficiency are aging, low dietary calcium intake, genetic predisposition, reduced physical activity and abnormal thyroid function.
Oral route of administration is dominating the vitamin D therapy market. It has garnered immense popularity among children due to ease of administration, and formulated in different sizes and colors which increases its external appearance and sugar coating causes increased palatability. Parenteral route of administration is superior owing to its excellent pharmacokinetic and pharmacodynamic drug profile and useful in elderly population suffering with impaired vitamin D absorption via the gastrointestinal tract.
Osteoporosis is currently reigning the application segment for vitamin D therapy market. According to International Osteoporosis Foundation (IOF) research studies 1 in 3 women and 1in 5 men above 50 years of age will suffer from osteoporotic fracture at least once during their lifetime. Malnourishment and depletion of calcium and vitamin D I daily dietary intake has led to significant rise in rickets in young childrens in developing and poor countries. In the last 2 decades skin disease are on a rise owing to depletion of ozone layers has exposed the skin surface to harmful UV radiation, thereby depleting keratinocytes used in vitamin D synthesis, hence causing inflammatory skin diseases such as atopic dermatitis and psoriasis.
North America is presently holding 33% market share in the regional segment for vitamin D therapy market. The prime factors contributing to the dominance of North America are rising prevalence of osteoporosis and low bone mass & increasing public health awareness regarding vitamin D deficiency. Europe holds the second largest market with a share of 30% owing to the rising prevalence of skin disorders associated with low serum cholecalciferol levels. Asia Pacific holds 20% market share and is willing to capture the market in the near future on account of significant rise in malnourishment in young children resulting in rickets and domicile of key players such as Cadila Healthcare, Alkem Laboratories, Torrent Pharmaceuticals Ltd., etc. drive the market growth in the region.
Pharmaceutical companies providing vitamin D therapy are Abbott Laboratories, Inc., Alkem Laboratories, Cadila Healthcare Ltd., GlaxoSmithkline, Plc., Merck & Co., Inc., Novartis AG, Pfizer, Inc., Sanofi S.A., Sun Pharmaceutical Industries Ltd. and Torrent Pharmaceutical Ltd.
Key Market Movements:
• Rising prevalence of osteoporosis and skin disease associated with vitamin D deficiency
• Significant rise in malnourishment among young children in developing and poor nations resulting in rickets
• Favorable reimbursement scenario for vitamin D therapy products
Browse the full report Vitamin D Therapy Market – Growth, Future Prospects, Competitive Analysis, 2019 – 2027 report at https://www.credenceresearch.com/report/vitamin-d-therapy-market
The Global Vitamin D Therapy Market is Segmented into:
|Segmentation||By Route of Administration (2017–2027; US$ Mn)|
|By Application (2017–2027; US$ Mn)|
|By Geography Segment (2017–2027; US$ Mn)|
*Complete segmentation list is on report page