Vitamin K Market will achieve over 8% CAGR up to 2025
The Latin America vitamin K market is anticipated to witness more than 9% growth over the analysis timeframe. Governments in Latin American countries are implementing policies and programs to eradicate health-related problems. These policies are also aimed at reducing prevalence of micronutrient deficiencies. Also, the region is witnessing gradual upgradation in healthcare infrastructure and several initiatives are being undertaken to make people aware of adverse effects of micronutrients deficiency. This scenario proves beneficial for regional industry growth.
The parenteral segment of the vitamin K market accounted for more than USD 160 million in 2018 and it will grow substantially over the analysis timeframe. Parenteral formulations avoid metabolic pathway that is responsible for degradation of most of the drugs. Improved bioavailability of the parenteral formulations enables quick delivery at specific site of action with required dose. Moreover, newborns are observed to have vitamin K deficiency that will surge demand for phytonadione injections to prevent life-threatening diseases. Above mentioned factors will prove beneficial for segment growth in coming years.
Vit-K Deficiency Bleeding (VKDB) segment of vitamin K market is anticipated to witness around 8.5% growth throughout the forecast period. VKDB is caused due to lower concentration of vitamin K in plasma and it is primarily observed in young infants. VKDB causes elevated risk of developing severe haemorrhages in newborns. Vit-K provides effective protection from the classic and late form of vitamin K deficiency bleeding. As a result, administration of vitamin K dosage will have a pivotal role in curing infants, thereby augmenting segment growth in near future.
Vitamin K1 segment was valued at around USD 400 million in 2018 and is anticipated to witness significant growth over the forecast period. Deficiency of vitamin K1 adversely impacts bone and teeth development as it plays an essential role in incorporating calcium phosphate into bones. Moreover, recent available phytonadione shows increased absorption of vitamin K1 tablets as compared to the earlier. Thus, importance of vitamin K1 medications in treating several diseases will surge its demand in forthcoming future.
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Notable industry players operational in the vitamin K market are Country Life (Kikkoman Corporation), Amphastar Pharmaceuticals, NattoPharma, Livealth Biopharma, Solgar, DSM, Kappa Bioscience, BASF, Pfizer and NOW Foods.
World Vitamin K Market is expected to cross USD 1,000 million by 2025. Changing lifestyle and consumption of unhealthy food results in numerous deficiency and chronic conditions. Consumption of junk food is relatively higher in developed countries and people residing in such regions are prone to various chronic diseases. People from underdeveloped countries also suffer from malnourishment that results in blood coagulation disorders. Thus, individuals suffering from hemorrhage and other chronic conditions are recommended to have intake of vitamin K supplements in their diets.
A rising number of coagulation disorders globally will foster vitamin K industry growth in forthcoming future. Coagulation disorder distorts blood clotting mechanism that results in several chronic conditions such as hemorrhage and thrombosis. Rare defective form of inherited gamma-carboxylation results early onset of mild to severe bleeding. Vit-K supplements results in partial correction of coagulation factor deficiency, thereby plays a crucial role in curing such chronic conditions. As a result, increasing incidence of coagulation disorders will surge demand for vitamin K medicines over the forecast period.