Global Prenatal Vitamin Supplements Market: Snapshot
Giving birth is an ecstatic jubilant adventure. Pregnancy brings not just a new life but also lot of duties and responsibilities. Fatigue and deficiencies are likely to occur. Women have a more stressful lifestyle due to their hectic schedule. Balancing both work life and looking after household needs is hard work. It is the ultimate cause of irregular eating and sleeping habits. Due to this, a lot of women suffer from vitamin and mineral deficiencies. A large number of women complain of vitamin deficiency during pregnancy. For proper development of the fetus in the womb, certain nutrients called prenatal vitamins are vital for all the three stages of the lactation period i.e. before, during and after. These prenatal vitamins are available in the form of large supplements but it is essential that they are consumed only if prescribed by a medicinal practitioner.
Owing to the rise in birth defect incidents like Down syndrome, club foot, congenital heart disease, Edward’s syndrome, phenylketonuria, and cleft lip has stimulated the demand for prenatal vitamin supplements globally. Other than that, recent advancements and growing awareness in the healthcare technology have influenced the growth of the prenatal vitamins supplements market.
The global prenatal vitamin supplements market was US29.12 bn as of 2015. It is estimated to rise with 7.7% CAGR to reach US$56.10 bn within the forecast period of 2016 to 2024.
Capsules More Likely Recommended by Doctors
Based on segmentation by dosage form, the market is divided into gummy, capsule, and powder. Capsules are recommend more by doctors as they have a longer shelf-life than gummy or powder. Other than that, capsules easily dissolve with gastric juices and are likely to remain the most prescribed variant through the forecast period. Recent technologies have brought easier ways of filling capsules with different dosage forms like pellets, powders and liquids. The capsule segment is likely to hold dominance in the global prenatal vitamin supplements market.
Based on segmentation by distribution channel, the market is divided into drug stores, supermarkets, online pharmacies and hospital pharmacies. The drug store market is emerging with almost 53.1% share as of 2015 records. Drug stores offer more convenience to the customers as there is direct interaction and customers can clear their doubts regarding the same as compared to the other distribution channels. Therefore drug store market is playing a major role in drawing profit to the market. The drugs store market is predicted to remain dominant throughout the forecast period even though the demand for other distribution channels is likely to grow faster in the years to come.
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North America Emerging as Most Attractive Market
The global prenatal vitamin supplements market is studied on the basis of key geographies Middle East and Africa, Latin America, Asia Pacific, Europe and North America. North America is emerging as the most attractive market out of the listed regions. On account of being one of the earliest adopters of latest technologies, North America also possesses a high degree of awareness among the consumers. North America is predicted to continue its dominance in the market following the 2015 records of 41.2% share in future prenatal vitamin supplements global market. However, Asia Pacific is likely to exhibit the highest CAGR during the forecast period.
Companies like Church & Dwight Co., Inc., Rainbow Light Nutritional Sytems Inc., New Chapter, Inc., Country Life LLC., and Twinlab Corporation are the major players in the global market for prenatal vitamin supplements.