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The market for vitamin deficiency treatment is driven by the increasing prevalence of various acute and chronic disorders around the world.
ALBANY, NEW YORK, USA, Sep 10, 2020 / EINPresswire.com / – Vitamin Deficiency Treatment Market: Introduction
According to the report, the global vitamin deficiency treatment market was valued at US $ 5.46 billion in 2019 and is projected to expand at a CAGR of 6.5% between 2020 and 2028. Increase in prevalence of various acute and chronic disorders worldwide and Demand for vitamin D and vitamin B complex due to numerous health benefits are the main factors anticipated to drive the global vitamin deficiency treatment market from 2020 to 2028.
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Increase in the prevalence of various acute and chronic disorders to drive the global market
The number of patients affected by chronic diseases is constantly increasing around the world. The root cause of several of these diseases can be traced to a lack of a healthy lifestyle and dietary habits that lead to deficiencies in several essential vitamins and minerals. The increase in the number of these diseases drives the demand for vitamins and other nutritional supplements. Cardiovascular and respiratory diseases have affected a large number of people worldwide and are the leading causes of death among the world’s population. Cardiovascular disease causes the majority of deaths worldwide.
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According to the World Health Organization (WHO), cardiovascular disorders (CVD) account for approximately 17.9 million deaths each year. Increased incidence of chronic diseases of the liver, heart, kidneys, and pancreas; and blood disorders such as leukemia and aplastic anemia have increased the demand for multivitamin and multimineral supplements. Therefore, the increasing incidence of chronic diseases and the increase in the geriatric population worldwide are driving the growth of the global market for vitamin deficiency treatments.
Vitamin B complex supplements to offer lucrative opportunities
The report provides a detailed segmentation of the global vitamin deficiency treatment market based on product type, route of administration, distribution channel, and region. In terms of product type, the global market for vitamin deficiency treatment has been categorized into supplements of vitamin B complex, vitamin C (ascorbic acid), vitamin A (retinoids), vitamin D (calciferol, 1,25- dihydroxy vitamin D), vitamin E (tocopherol) and vitamin K. According to the route of administration, the world market has been classified into oral and parenteral.
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The oral segment dominated the global market, as most of the supplement therapy segment products available in the market are administered orally due to convenience and better patient compliance. In terms of distribution channel, the global market for vitamin deficiency treatment has been divided into hospital pharmacies, retail pharmacies and online pharmacies. Increased e-commerce adoption is anticipated to boost the online pharmacy segment in the near future.
Asia Pacific to lead the market for vitamin deficiency treatment
North America is the second largest market for the treatment of vitamin deficiency. The region’s dominance in the world market is attributed to the high rate of adoption of vitamin supplements, as well as the high prices of medicines. The Asia Pacific market is likely to grow at a faster rate during the forecast period. Increased awareness of various diseases, favorable medical reimbursement policies, and rapidly developing healthcare facilities in Asia Pacific are the main factors expected to drive market growth in the region during the forecast period.
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Leading players in the global market
The report provides profiles of the major players operating in the global vitamin deficiency treatment market. These include Koninklijke DSM NV, Nature’s Bounty, Mallinckrodt Pharmaceuticals, and Pfizer, Inc. Mallinckrodt Pharmaceuticals is a Dutch manufacturer of nutritional ingredients, specialty food ingredients, engineering plastics, coatings, biomedical materials, etc. The company employs more than 21,054 people in approximately 50 countries. Its nutrition division comprises DSM Nutritional Products and DSM Food Specialties. DSM Nutritional Products produces essential nutrients such as synthetic vitamins, carotenoids, nutritional lipids, and other ingredients for the feed, food, pharmaceutical, and personal care industries.
Mr. Rohit Bhisey
Transparency market research
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