Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Vitamin D Therapy Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, March 25, 2021 (GLOBE NEWSWIRE) -- The Global Vitamin D Therapy Market is expected to grow at a CAGR of around 11.9% from 2020 to 2027 and reach the market value of over US$ 3,819.4 Mn by 2027.
The global vitamin D therapy market is projected to gain significant growth during the forecast period from 2020 to 2027. The increasing number of people with vitamin D deficiency coupled with the rising awareness about the side effects of vitamin D deficiency is driving the market growth. The prevalence of indoor lifestyle among people in developing and developed economies are further propelling the regional market value.
The global vitamin D therapy market is segmented on the basis of route of administration, purchasing patterns, application, and geography. Based on the route of administration, the market is bifurcated into oral and parenteral routes of administration. On the basis of purchasing patterns, the market is divided across prescription and over-the-counter. Additionally, vitamin D therapy has applicability across osteoporosis, rickets, skin diseases, muscle weakness, autoimmune disorders, and others.
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North America accounted for the maximum revenue share in the vitamin D therapy market. The major economies of the region including the US and Canada are the major revenue (US$ Mn) contributors. The high-income population and well-established healthcare infrastructure is bolstering the regional market value. The prevalence of Vitamin D deficiency and increasing cases of skin diseases are supporting the regional market value. According to the National Center for Biotechnology Information, U.S. National Library of Medicine, 2021 stats, about 50% to 60% of nursing home residents and hospitalized patients had vitamin D deficiency in the United States. 47% of African American infants and 56% of Caucasian infants have vitamin D deficiency in the US. In the United States, 35% of adults and 61% of the elderly population is vitamin D deficient.
North America is followed by the Asia Pacific in 2019 in terms of revenue, as well as Asia Pacific is anticipated to experience the fastest growth over the forecast period. Additionally, the region is also projected to dominate the global Vitamin D Therapy market in near future. The increasing number of vitamin D deficient populations in the region is supporting the regional market growth. For instance, over 90% of infants and 96% of the elderly population is vitamin D deficient in India.
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The rising awareness about the deficiency coupled with the increasing spending on healthcare services is boosting the regional market value. Furthermore, major developing economies of the region including China and India are the major revenue contributors. Moreover, the expanding presence of major players in the region is further supporting the bolstering regional market value.
Some of the leading competitors in the Vitamin D Therapy Market 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. Major players are continuously making efforts for bolstering their sales, as well as to raise awareness among people about the benefits associated with their products is supporting the market growth.
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Some of the key observations regarding the Vitamin D Therapy industry include:
- A study highlighted by a UK Member of Parliament (MP) suggests that patients hospitalized with the COVID-19 that received calcifediol treatment at the time of hospitalization significantly reduced ICU admission and mortality. He has further added, an 80% reduction in the need for ICU and a 60% reduction in deaths, by simply giving the cheap and safe therapy "calcifediol or activated vitamin D." The Conservative ex-cabinet member David Davis has also tweeted with the suggestion to administer this therapy to every COVID-19 patient or all the vulnerable groups.
- The world's leading bone health research, clinical, and patient advocacy organizations ASBMR, Endocrine Society, NOF, ECTS, AACE, and International Osteoporosis Foundation (IOF) have provided recommendations in managing osteoporosis treatments for those who are planning to get vaccinated. Patients are suggested to consult their health care providers before making any changes in their diets for getting the vaccination.
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