Vitamin Deficiency Treatment Market Trends Set to Record Exponential Growth by 2027

Growing Prevalence of Vitamin Deficiency Cases Worldwide to Propel Market Growth

The healthcare sector is continually finding new ways to address the burdening problems associated with vitamin deficiencies. As the number of individuals suffering from vitamin deficiencies continues to grow at an exponential rate worldwide, vitamin deficiency treatments have gained a great amount of attention over the past couple of decades. Some of the major factors that are expected to influence the expansion of the vitamin deficiency treatment market during the forecast period include rising prevalence of acute and chronic disorders, surge in the number of research & development activities, and growing demand for vitamin D and vitamin B complex, owing to the health benefits.

At present, a great number of research activities are focusing on addressing health issues and risks involved with nutritional deficiencies. Vitamin D testing and treatment has witnessed considerable growth in the past few years. Guidelines pertaining to the treatment of various vitamin deficiencies continue to evolve due to research. As vitamin D deficiency continues to emerge as a global burden, apart from vitamin deficiency treatment, tackling vitamin D deficiency would require robust public health actions, including vitamin D food fortification. At the back of these factors, the global vitamin deficiency treatment market is expected to reach a value of ~US$ 9.5 Bn by the end of 2027.

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Notable Progress to Address Vitamin B12 and Vitamin D Deficiencies

Vitamin deficiencies continue to pose a major threat to the overall wellbeing of the society worldwide. Vitamin deficiencies can lead to irritability, nausea, constipation, depression, mental confusion, and muscle weakness, among others. Vitamin B12 deficiencies have increasingly been detected among athletes, individuals with high alcohol consumption, and women who consistently use birth control pills. In the current scenario, the demand for vitamin deficiency treatment is on the rise to address and predominantly incorporate a blend of vitamin B6 with synergistic B vitamins. For several decades, within clinical practices worldwide, vitamin B12 deficiencies often received a blind eye or were misdiagnosed. However, at present, trends suggest that detection, diagnosis, and vitamin deficiency treatment continue to progress at an impressive pace. Diagnosis based on low serum B12 levels and elevated biomarkers including methylmalonic acid and homocysteine continue to make headlines within the vitamin deficiency treatment market. In the current scenario, researchers are also investigating the potential benefits of deploying oral supplementation to combat the symptoms of vitamin B12 deficiency as an alternative to parental treatment.

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Over the past decade and during the forecast period, researchers are increasingly exploring the potential solutions to address muscle weakness among the elderly population caused by vitamin D deficiency. The prevalence of vitamin D deficiency has witnessed unprecedented growth over the past few years, due to which the demand for supplementation of 800 IU of vitamin D is required. In most cases, vitamin D is predominantly administered in the form of cholecalciferol. The demand for cholecalciferol is expected to grow in the coming years, as it is considered to be safe for elderly people. The demand for vitamin B complex supplements is projected to remain the highest among all other types of products followed by vitamin C and vitamin D supplements.

Companies Likely to Focus on Research & Development Activities to Gain Advantage

Participants operating in the current vitamin deficiency treatment market are expected to focus on research and development activities to discover new and improved vitamin deficiency treatments. Several companies are also anticipated to eye opportunities in foreign markets, while simultaneously improving their market share in the domestic market. Product launches and expanding the product portfolio are also projected to remain some of the key strategies deployed by market players. For instance, in 2016, Abbott Laboratories expanded its product portfolio by launching two infant nutrition products, including Similac Pro-Advance and Pro-Sensitive. Several companies are also leaning toward inorganic growth strategies such as mergers & acquisitions to improve their market share and brand presence. For instance, Pfizer, Inc. acquired Emergen C in 2012, at the back of which, the sales of Pfizer saw remarkable growth.

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Analysts’ Viewpoint

The global vitamin deficiency treatment market is expected to grow at a CAGR of 6.5% during the forecast period. The market growth can be primarily attributed to a range of factors, including rising prevalence of vitamin D deficiencies among the elderly population, significant development on the research front, growing emphasis on drug development, and rising awareness pertaining to vitamin deficiencies. Companies operating in the vitamin deficiency treatment market landscape should focus on mergers & acquisitions to improve their market share and overall position. Product launches, research, and expansion of the existing product portfolio are some of the other strategies that should be considered to gain ground in the current vitamin deficiency treatment market during the assessment period.

Vitamin Deficiency Treatment Market: Overview

According to Transparency Market Research’s latest market report on the global vitamin deficiency treatment market for the historical period 2018–2019 and forecast period 2020–2028, rise in global geriatric population and high demand for Vitamin D and Vitamin B complex due to numerous health benefits are projected to drive the global vitamin deficiency treatment market
According to the report, the global vitamin deficiency treatment market was valued at US$ 5.46 Bn in 2019 and is anticipated to expand at a CAGR of 6.5% from 2020 to 2028

High Demand for Vitamin D and Vitamin B Complex due to Numerous Health Benefits: Key Drivers

Vitamin D plays a significant role in absorbing calcium into the bones, thereby aiding in building and maintaining strong bones. Vitamin D also helps maintain normal blood levels of calcium and phosphorus. Role of Vitamin D supplements is not just restricted to preventing or treating rickets, but it is also known to help maintain normal function of the immune system, normal inflammatory response, and normal muscle function.
Vitamin D deficiency is quite common, especially in the young working population, as more and more people are leading a sedentary lifestyle and have a desk job. These people do not receive enough sunlight to activate vitamin D formation in the body, which is leading to increase in vitamin D deficiency.
These factors are expected to increase the demand for vitamin D supplements and subsequently, drive the global vitamin deficiency treatment market
Vitamin B12, also known as methylcobalamin, is a water-soluble vitamin that plays significant role in the production of red blood cells and DNA, as well as proper functioning of the nervous system. B12 deficiency can cause numerous issues including pernicious anemia, megaloblastic anemia, and sub-acute combined degeneration of spinal cord. Vitamin B12 is derived from animal products such as meat, poultry fish, dairy, and is frequently found to be deficient in vegetarians and vegans.
Vitamin B complex is a commonly prescribed vitamin supplement due to their high functionality in maintaining normal body metabolism, thus, driving the global vitamin deficiency treatment market

Rise in Global Geriatric Population

Rise in global geriatric population is estimated to fuel the demand for vitamins and other dietary supplements at a steep pace during the forecast period. Rise in geriatric population directly affects the demand for vitamins, primarily due to higher susceptibility to various diseases among this population.
Most developed countries have high geriatric population. According to the WHO, the geriatric population is expected to rise at a rapid pace in developed countries such as the U.S., the U.K., and Japan
Access to various diagnostic and treatment services has improved due to favorable healthcare policies and the advancement in health care facilities in countries such as the U.S., Japan, the U.K., and other countries in Western Europe, which, in turn, has increased life expectancy of the population. Increase in geriatric population is anticipated to propel the vitamin deficiency treatment market during the forecast period.