February 07, 2020
As per the report titled ‘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), By Route of Administration (Oral, Parenteral, Topical) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global vitamin k market is projected to exceed USD 1 billion by the year 2025.
Increasing instances of coagulation disorders across the globe is driving the growth of Vitamin K market. Coagulation disorders can result in various chronic diseases such as hemorrhage and thrombosis. Vitamin K supplements can partially correct the distorted blood clotting mechanism caused by coagulation ailments. Changing lifestyle and high intake of junk food makes people prone to deficiency and chronic disorders. Additionally, people suffering from malnourishment in underdeveloped countries are more susceptible to chronic diseases, which has increased the demand of Vitamin K supplements.
Based on the product type, the report cites that the Vitamin K1 segment of the vitamin K market was worth USD 400 million in 2018 and is expected to grow significantly over the forecast timeline. The segmental growth can be attributed to the application of vitamin K1 medications in treating various diseases. Vitamin K1 deficiency negatively impacts bone and teeth growth. Moreover, it is essential for absorbing calcium phosphate into bones.
In terms of the application scope, Vitamin K Deficiency Bleeding [VKDB] segment is projected to witness a CAGR of 8.5% during the analysis period. VKDB occurs due to low concentration of vitamin K in plasma. VKDB commonly arises among infants and elevates the risk of hemorrhages.
With respect to the route of administration, parenteral segment registered over USD 160 million in 2018 and is anticipated to see sizeable growth in the coming years. Parenteral formulations enable quick delivery to site with proper dosage and avoid metabolic pathways that degrade some drugs. These factors coupled with lack of vitamin K in new-born infants will foster the segmental growth in the years to come.
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Considering the geographical landscape, vitamin k market in Latin America is anticipated to grow by 9% over the analysis timeframe. The growth can be attributed to government initiatives to counter health issues coupled with the upgradation of the healthcare infrastructure in the region.
Prominent players of vitamin K market are Amphastar Pharmaceuticals, Country Life (Kikkoman Corporation), Livealth Biopharma, NattoPharma, Solgar, Kappa Bioscience, DSM, BASF, NOW Foods, and Pfizer.
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