How Will The Vitamin D Therapy Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s vitamin D therapy market report forecasts the vitamin D therapy market size to grow to $4.09 Billion by 2027, with a CAGR (compound annual growth rate) of more than 11%.
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Vitamin D Therapy Market Size Forecast
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%.
North America held the largest vitamin D therapy market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Vitamin D Therapy Market Driver – Increase In The Prevalence Of Malnutrition Cases
According to the World Health Organization, a Switzerland-based organisation that works to promote health, keep the world safe, and serve the vulnerable, approximately 1.9 billion adults are overweight or obese in June 2021, while 462 million are underweight globally in 2020. In addition, it was estimated that 149 million children under the age of five were stunted, 45 million were wasted, and 38.9 million were overweight or obese. As a result, the rising prevalence of malnutrition is propelling the vitamin D therapy market forward.
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Key Vitamin D Therapy Market Trend – Product Innovations
To maintain their market position, major companies in the vitamin D therapy market are introducing innovative products. For example, DSM Pharma Solutions, a Dutch pharmaceutical company, will launch a new vitamin D3 powder in February 2021. Vitamin D3 is linked to bone and muscle health, as well as supporting healthy immune function. Getting enough vitamin D in the body can be difficult due to limited food sources and a person’s direct exposure to sunlight. Even with traditional vitamin D supplements like D3 or fortified foods, the company claims that it can take several months to achieve healthy vitamin D levels in the bloodstream. Vitamin D3 is linked to bone and muscle health, as well as supporting healthy immune function.
Vitamin D Therapy Market Segment
1) By Administration: Oral, Parenteral
2) By Purchasing: OTC Drugs, Prescription Grugs
3) By Age Group: Children, Adults, Senior Adults
4) By Application: Osteoporosis, Rickets, Skin Diseases, Muscle Weakness, Autoimmune Disorders
Vitamin D Therapy Market Major Players and Strategies
Major players in the vitamin D therapy market are 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.
BetterLife Pharma, a biotechnology company based in Canada focused on developing and commercialising patient-friendly compounds to treat neuropsychiatric and neurological disorders, acquired Solmic AG for an undisclosed sum in February 2020. This acquisition is expected to lead to the commercialization of products that deliver orally bioavailable CBD (cannabidiol) unlike any other product on the market. Solmic AG is a Swiss company with a unique global patent for the development of next-generation CBD-based biopharmaceuticals.
The Vitamin D Therapy Global Market Report 2023 covers regional data on vitamin D therapy market size, vitamin D therapy market trends and drivers, opportunities, strategies, and vitamin D therapy market competitor analysis. The countries covered in the vitamin D therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Vitamin D therapy is the use of supplements to treat and prevent vitamin D deficiency. Vitamin D therapy aids in calcium and phosphorus regulation in the body. It also aids in the preservation of proper bone structure. Supplementing with vitamin D may help people who are depressed and deficient in vitamin D.
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