(PharmaNewsWire.Com, August 24, 2021 ) The vitamin D therapy market is projected to reach USD 3.3 billion by 2024 from USD 1.9 billion in 2019, at a CAGR of 11.6% during the forecast period. Growth in this market is largely driven by the growing awareness about vitamin D deficiency and the presence of a large target patient population. On the other hand, the fortification of foods is likely to challenge the growth of this market.
Browse 77 market data Tables and 29 Figures spread through 112 Pages and in-depth TOC on "Vitamin D Therapy Market"
Some of the major players in this market include Abbott (US), Sanofi (France), GlaxoSmithKline plc (UK), Pfizer Inc. (US), Merck & Co., Inc. (US), Torrent Pharmaceuticals Ltd. (India), Novartis International AG (Switzerland), Alkem Laboratories (India), Sun Pharmaceutical Industries Ltd. (India), and Cadila Healthcare Ltd. (India).
Osteoporosis held the largest share of the applications market in 2018
Based on applications, the vitamin D therapy market is segmented into osteoporosis, rickets, skin diseases, muscle weakness, autoimmune disorders, and other applications. In 2018, the osteoporosis segment accounted for the largest share of the vitamin D therapy market. The large share of this segment can be attributed to the increasing incidence of falls and fractures in senior adults due to the elevated level of parathyroid hormones and the poor absorption of calcium from their diets.
The Asia Pacific commanded the largest share of the vitamin D therapy market in 2018
The Asia Pacific dominated the vitamin D therapy market. The large share of this regional segment can be attributed to the increasing awareness about vitamin D deficiency, supportive government policies and programs for the implementation of vitamin D deficiency treatment plans in the region, heavy air pollution, sedentary lifestyles, increasing incidence of vitamin D deficiency, decreasing sun exposure, and rising malnutrition levels
Recent Developments: In 2018, GlaxoSmithKline plc completed the buyout of Novartis’ 36.5% stake in its Consumer Healthcare Joint Venture for USD 13 billion. In 2018, GlaxoSmithKline plc and Pfizer Inc. collaborated to form a new world-leading consumer healthcare joint venture. The joint venture will be a category leader in pain relief, respiratory, vitamin and mineral supplements, digestive health, skin health, and therapeutic oral health.
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