“The Asia Pacific to grow at the highest rate during the forecast period (2018–2023).”
The vitamin D therapy market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The Asia Pacific dominated the market in 2018 and is expected to register the highest CAGR during the forecast period. Growth in the APAC is largely driven by the increasing awareness about vitamin D deficiency and supportive government policies and programs for the implementation of vitamin D deficiency treatment plans, heavy air pollution, sedentary lifestyles, increasing incidence of vitamin D deficiency, atypical diets, decreasing sun exposure, and rising malnutrition levels.
Key Market Players
Some of the prominent players in the market are 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).
Abbott (US) is the largest player in the vitamin D therapy market. It has a strong foothold in the market. Abbott has a global distribution network and a good brand reputation among end users. The company’s strong presence and wide distribution channels across the globe have helped it to maintain its leading position in the market. In order to strengthen its position in the market, the company significantly invests in R&D activities. In 2018, the company invested USD 2.30 billion in R&D activities as compared to USD 2.26 billion in 2017.
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