Vitamin K Market size to exceed USD 1bn by 2025
Published Date: August 12, 2019 Authors: Sumant Ugalmugle
Vitamin K Market size is estimated to exceed USD 1 billion by 2025; according to a new research report by Global Market Insights, Inc.
Increasing incidence of coagulation disorders across the globe will prove beneficial for vitamin K market growth in forthcoming future. Coagulation disorders interrupts ability of body to control blood clotting that may result in severe chronic conditions such as thrombosis and hemorrhage. Moreover, vitamin K deficiency results in various diseases such as VKCFD, gamma-glutamylcarboxylase gene, etc. These conditions need therapies that include phytonadione and menadione dosage. Moreover, Centers for Disease Control and Prevention (CDC) ensures execution of prevention programs for blood disorders. Such scenario will augment demand for medications and supplements favoring vitamin K market growth.
Rising awareness pertaining to availability of commercially viable vit-K products in Asian and other developing countries will drive the industry growth. Market players engaged in manufacturing of vit-K products emphasizes on spreading awareness for minimizing the vitamin deficiency issues. For instance, NattoPharma one of the leading companies has been educating the customers regarding importance of vitamin K2 for human health. Additionally, several internet-based surveys and campaigns are conducted to educate people regarding harsh effects of deficiencies and the benefits of vitamin K. Thus, growing awareness in people to include vitamin K as a part of their diet will drive business growth. However, side effects associated with medications may hamper vitamin K market growth to certain extent.
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Vitamin K2 segment was accounted for more than USD 200 million in 2018 and it is anticipated to witness tremendous growth in near future. Vitamin K2 also known as menaquinone is majorly found in fermented and animal foods. It has pivotal role in reducing blood vessel calcification and enhancing bone, dental and heart health. Moreover, vitamin K2 supplements slower age-related mineral density. Thus, vitamin K2 has crucial role and is essential for overall metabolism of the body. Aforementioned properties of vitamin K2 will escalate its demand that will exceed segment revenue in coming years.
Dermal applications segment is anticipated to witness around 8.5% CAGR throughout the forecast period. Vit-K has several skin applications such as suppressing pigmentation, resolving bruising, prophylactically limiting the occurrence of acneiform side effects and promoting wound healing. Furthermore, topical formulations of vitamin K are used as therapeutics for dermal blood vessel disorders including actinic, iatrogenic purpura and lentigines. Aforementioned factors will propel segment growth during the forecast period.
Topical route of administration segment was accounted around USD 49 million in 2018 and it will grow substantially in forthcoming future. Vit-K possesses chemical properties that suppress skin pigmentation and counteract changes in skin after irradiation with laser beams. Usage of creams to remove bruises, spider veins, stretch marks, scars and burns is increasing over the recent years. Benefits associated with topical menadione and phytonadione formulations such as tissue regeneration, skin renewal, reduction in ageing signs and inflammation in several skin diseases such as eczema and psoriasis will favour segment growth of vitamin K market.
Browse key industry insights spread across 99 pages with 91 market data tables & 8 figures & charts from the report, “Vitamin K Market Size By Type (Vitamin K1, Vitamin K2), By Application (Osteoporosis, Vitamin-K Dependent Clotting Factor Deficiency [VKCFD], Prothrombin Deficiency, Vitamin K Deficiency Bleeding [VKDB], Dermal Applications), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
Asia Pacific vitamin K market is projected to witness around 9% growth over the forecast period. Increasing birth rates will substantially augment demand for vitamin K1 injectables in order to save infants from further complexities. Infants are vulnerable to vitamin K deficiencies and if left untreated, hazardous repercussions may occur such as brain damage, death, and intracranial haemorrhage. Furthermore, increasing cases of trauma and accident in the region will augment demand for vit-K medications as it stops bleeding and thickens blood that further prevents risk of excess unusual bleeding. Aforementioned factors will escalate regional business revenue in analysis timeframe.
Notable industry players operational in vitamin K market are Solgar, BASF DSM, Livealth Biopharma, Amphastar Pharmaceuticals, NattoPharma, Kappa Bioscience, NOW Foods, Country Life (Kikkoman Corporation) and Pfizer. Market players are executing several strategic initiatives such as product launches, geographical expansions, collaborations, mergers and acquisitions in order to sustain competition and gain competitive advantage. For instance, in July 2017, NattoPharma launched MenaQ7 Vitamin K2 as MK-7, Doiska MenaQ7 in Brazil. The launch of new product for an audience pool of over 600 cardiologists will help the company to increase its customer pool as well as business revenue.
Vitamin K market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
Vitamin K Market, By Type (USD million)
- Vitamin K1
- Vitamin K2
Application (USD million)
- Vitamin-K Dependent Clotting Factor Deficiency [VKCFD]
- Prothrombin Deficiency, Vitamin K Deficiency Bleeding [VKDB]
- Dermal Applications
By Route of Administration (USD million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia