Vitamin D Therapy Global Market Is Forecasted To Grow At A Rate Of Almost 12% Through 2023 – 2027
22 May, 2023
The global vitamin D therapy market is expected to grow from $2.34 billion in 2022 to $2.62 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The vitamin D therapy market is expected to grow to $4.09 billion in 2027 at a CAGR of 11.7%.
Global Vitamin D Therapy Market Key Driver
The rising prevalence of malnutrition is expected to drive the growth of the vitamin D therapy market in the coming years. Malnutrition refers to nutrient deficiencies or excesses, nutrient imbalances, or impaired nutrient utilization. Vitamin D deficiency is common in malnourished inpatients and is associated with a higher risk of long-term mortality, particularly when patients do not receive vitamin D treatment. As a result of the increased prevalence of malnutrition cases, there is a greater need for vitamin D therapy. For instance, in June 2021, according to an article by the World Health Organization, a Switzerland-based agency working to promote health, keep the world safe, and serve the vulnerable, around 1.9 billion adults are overweight or obese, while 462 million are underweight globally in 2020, And around 149 million children under 5 were estimated to be stunted, 45 million were estimated to be wasted, and 38.9 million were overweight or obese. Therefore, the increasing prevalence of malnutrition cases is driving the growth of the vitamin D therapy market.
Get a sample of the global vitamin D therapy market reportGlobal Vitamin D Therapy Market Segments
The global vitamin D therapy market is segmented:
1) By Administration: Oral, Parenteral
2) By Purchasing: OTC Drugs, Prescription Drugs
3) By Age Group: Children, Adults, Senior Adults
4) By Application: Osteoporosis, Rickets, Skin Diseases, Muscle Weakness, Autoimmune Disorders
5) By Geography: The regions covered in the vitamin D therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global vitamin D therapy market.
Major Vitamin D Therapy Industry Players
Abbott Laboratories, Sanofi SA, Glaxo Smith Kline, Pfizer Inc., Merck and Co. Inc., Torrent Pharmaceuticals Ltd., Novartis International AG, Alkem Laboratories, Sun Pharmaceutical Industries Ltd., Cadila Healthcare Ltd., Biotics Research Corporation, Solvay Pharma India Pvt. Ltd., Forgo Pharmaceuticals Ltd., Mankind Pharmaceuticals Pvt. Ltd., and Cipla Ltd.
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Vitamin D Therapy Market Overview
Vitamin D therapy refers to the use of supplements to treat and prevent vitamin D deficiency. Vitamin D therapy aids in the regulation of calcium and phosphorus in the body. It also helps to maintain proper bone structure. Vitamin D supplementation may benefit people suffering from depression who are also vitamin D deficient.
Vitamin D Therapy Global Market Report 2023 provides data on the global vitamin D therapy market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The vitamin D therapy market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.