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(Medical-NewsWire.com, April 07, 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.
Factors Driving the Market Growth:
The major factors driving the growth of this market include the growing awareness about vitamin D deficiency among consumers and the presence of a large target patient population worldwide.
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The oral route of administration dominated the vitamin D therapy market in 2018
By route of administration, the vitamin D therapy market is segmented into oral and parenteral routes of administration. In 2018, the oral route accounted for the largest share of the market. The large share of this segment can be attributed to the ease of administration, better pharmacokinetic and pharmacodynamic activity, its economy (as compared to parenteral and topical routes), and higher preference for the oral route.
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.
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Key Players of 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).
Mr. Aashish Mehra