The market for vitamin D therapy is expected to grow at a CAGR of around 11.9% from 2020 to 2027 and expected to reach the market value of around US$ 3,819.4 Mn by 2027.
Vitamin D is a group of fat-soluble secosteroids, which aids in the intestinal absorption of calcium, magnesium, and phosphate, and many other biological elements. It helps in forming and maintaining strong bones; additionally, the intake of fat-soluble vitamin may provide protection and decrease the risk of developing osteoporosis, hypertension, cancer, and several autoimmune diseases. About 90% of the required vitamin D is synthesized in the skin under sun exposure. Vitamin D can also help in regulating mood, as many studies have also shown that low vitamin D was linked to higher level of depression and anxiety. Moreover, lack of vitamin D leads to the bone deformities such as rickets in children, and bone pain caused by a condition called osteomalacia in adults. In addition, vitamin D therapy helps in combating the risks associated with deficiency of vitamin D produced naturally in the body.
The growing awareness about vitamin D deficiency among consumers across the globe is primarily driving the market growth. The presence of a large target patient population due to lack of vitamin D intake is additionally supporting the market growth. Some of the factors driving the market growth include changing food habits contributing to low dietary calcium and Vitamin D intake, increased indoor lifestyle, thereby preventing adequate exposure to sunlight, increasing pollution hampering the synthesis of vitamin D in the skin by UV rays, increased skin pigmentation and application of sunscreens, cultural practices such as the burqa and purdah system, unspaced and unplanned pregnancies in women with dietary deficit leading to worsening of vitamin D status in both mother and child. Furthermore, countries with a high prevalence of malnourished as well as developing economies are expected to create potential growth opportunities over the forecast period from 2020 to 2027.
Segment Instance of Global Vitamin D Therapy Market
Oral route of administration is leading the Vitamin D therapy market
In 2019, the oral route of administration lead the market with maximum revenue share and the segment is also projected to maintain its dominance over the forecast period from 2020 to 2027. The advantages associated with the oral route like ease of administration, better pharmacokinetic and pharmacodynamic activity, reduced chance of toxicity and increased patient compliance are supporting the segmental market value.
North America dominated the Vitamin D Therapy Market in 2019
The major economies of North America including the US and Canada are contributing to the regional market value. The well-established healthcare infrastructure, high disposable income, and aware population base are supporting the regional market value. Additionally, the presence of major players in the region is another factor propelling the regional market value.
Asia Pacific is anticipated to exhibit fastest growth over the forecast period from 2020 to 2027
The Asia Pacific is estimated to experience the fastest growth during the forecast period from 2020 to 2027. The increasing demand in vitamin D supplements due to the presence of a large population base is supporting the regional market growth. The rising awareness about vitamin D deficiency, increasing lifestyle diseases, rising expenditure in the healthcare sector are some of the factors driving the market growth.
Key Players Profiled
The players profiled in the report include Abbott Laboratories, Alkem Laboratories Ltd., Cadila Healthcare Ltd., GlaxoSmithKline PLC, Merck & Co., Inc., Novartis AG, Pfizer Inc, Sanofi S.A., Sun Pharmaceutical Industries Ltd., and Torrent Pharmaceuticals Ltd. among others.
Market By Route of Administration
Market By Purchasing Patterns
Market By Application
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
The market for vitamin D therapy is expected to reach a market value of around US$ 3,819.4 Mn by 2027.
The vitamin D therapy market is expected to grow at a CAGR of around 11.9% from 2020 to 2027.
Oral is the leading segment by route of administration in the vitamin D therapy market
The growing awareness about vitamin D deficiency among consumers, presence of a large target patient population due to lack of vitamin D intake, changing food habits contribute to low dietary calcium and Vitamin D intake, and increased indoor lifestyle are some of the factors driving the market growth.
Abbott Laboratories, Alkem Laboratories Ltd., Cadila Healthcare Ltd., GlaxoSmithKline PLC, Merck & Co., Inc., Novartis AG, Pfizer Inc, Sanofi S.A., Sun Pharmaceutical Industries Ltd., and Torrent Pharmaceuticals Ltd. are some of the prominent players in the vitamin D therapy market.
North America held the highest market share in the vitamin D therapy market
Asia Pacific is expected to be the fastest growing market over the forecast period