Vitamin D Therapy Market SWOT Analysis and Competitive Landscape To 2027
Vitamin D is considered to be a group of fat-soluble secosteroids that aid in increasing the intestinal absorption of calcium, phosphate, and magnesium. The major vitamin D compounds in humans include vitamin D3 (known as cholecalciferol) and vitamin D2 (known as ergocalciferol). Vitamin D deficiency has been one of the common problems in the past few years owing to less exposure to sun, attributed to sedentary lifestyles. Symptoms of vitamin D deficiency include muscle weakness and bone pain. Dietary vitamin D is administered to treat the deficiency. The recommended dosage, according to the Institute of Medicine, is 600 international units (IU) for age group 1 year to 70 years and 800 IU for adults aged over 70 years. Moreover, the safe upper limit of recommended dietary allowance of vitamin D is 4,000 IU.
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The global vitamin D therapy market is driven by increase in the target patient population, rise in awareness about vitamin D deficiency, surge in levels of malnutrition, increase in patient compliance to oral medications, rise in prevalence of hypovitaminosis D, aging population, sedentary lifestyles, and lack of exposure to sun. Additionally, strategic acquisitions and joint ventures among companies contribute to the growth of the market. For instance, in 2018, GlaxoSmithKline completed the buyout of Novartis’ 36.5% stake in Consumer Healthcare Joint Venture. GlaxoSmithKline also entered into a collaboration with Pfizer to form a consumer health care joint venture which would offer a range of products in vitamin and mineral supplements, skin health, therapeutic oral health, respiratory, pain relief, and digestive health, among others. However, increase in circulation of fortified products is likely to hamper the growth of the market during the forecast period.
The global vitamin D therapy market can be segmented based on route of administration, purchasing pattern, application, patient type, and region. In terms of route of administration, the market can be bifurcated into parenteral and oral. The oral segment is anticipated to expand at a high CAGR owing to ease of administration, high patient compliance, better pharmacodynamic activity, and reduced chance of toxicity. Based on purchasing pattern, the global vitamin D therapy market can be divided into prescription drugs and over-the-counter drugs. In terms of application, the market can be classified into osteoporosis, rickets, muscle weakness, autoimmune disorders, skin diseases, and others. Based on patient type, the market can be categorized into adult and pediatric.
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Geographically, the global vitamin D therapy market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America dominated the global market in terms of revenue in 2018. The trend is projected to continue during the forecast period owing to the presence of leading players, focus on research and development, increase in health care investments by manufacturers, and well-established health care infrastructure. The market in Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. Growth of the market in the region can be attributed to rise in awareness about vitamin D deficiency, government programs for the implementation of treatment plans, less exposure to sun, increase in malnutrition levels, and sedentary lifestyles.
Major players in the global vitamin D therapy market include GlaxoSmithKline plc, Sanofi, Torrent Pharmaceuticals Ltd., Pfizer, Inc., Merck & Co., Inc., Abbott, Novartis International AG, Sun Pharmaceutical Industries Ltd., Alkem Laboratories, and Cadila Healthcare Ltd.
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