Vitamin C Drugs Market: Introduction
- Vitamins are substances that are required by the body for normal growth and development
- Vitamin C, also known as ascorbic acid, is an antioxidant that is important for the bones, skin, and connective tissue. It facilitates healing of the body and helps in absorption of iron. It plays a vital role in maintaining proper immune function and is widely recommended to avoid infections such as COVID-19.
- Vitamin C is present in citrus fruits and vegetables such as red and green peppers, tomatoes, and broccoli. Cereals also contain vitamin C.
- Vitamin C is important for pregnant/breastfeeding women, burn victims, and patients recovering from surgery. Most dieticians and other healthcare professionals recommend consumption of fruits and vegetables containing vitamin C, rather than supplements.
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Key Drivers and Restraints of Global Vitamin C Drugs Market
- The global vitamin C drugs market is primarily driven by a rise in awareness regarding vitamin C supplements for improvement of body functions and an increase in number healthcare professionals recommending vitamin C. Furthermore, an increase in number of youth focusing on healthy lifestyle and opting for vitamin C syrups, capsules, and other forms is projected to boost the market during the forecast period.
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Respiratory diseases segment to account for major share of global vitamin C drugs market
- In terms of form, the global vitamin C drugs market can be classified into tablets, capsules, syrups, injections, and others
- The tablets segment is anticipated to dominate the global market during the forecast period, due to an increase in number of women with iron deficiency, rise in emphasis on improving lifestyle & diet, emphasis on consumption of vitamins & minerals, and increase in expenditure on health & fitness
Dietary supplement segment to account for major share of global vitamin C drugs market
- In terms of application, the global vitamin C drugs market can be classified into dietary supplement, ascorbic acid deficiency (scurvy), urinary acidification, macular degeneration, and others
- The dietary supplement segment is anticipated to dominate the global market during the forecast period. Rise in demand for vitamin C dietary supplements for management of better health, iron deficiency, and boosting immunity are various factors that are projected to drive the segment.
North America to dominate global vitamin C drugs market
- In terms of region, the global vitamin C drugs market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global vitamin C drugs market during the forecast period, due to increase in focus on improving diet & lifestyle and growing adoption of vitamin supplements for health improvement.
- The market in Asia Pacific is anticipated to be driven by an increase in number of patients with vitamin deficiency, need to improve women health & increase iron intake, and rise in number of awareness campaigns in schools & colleges. However, according to various reports from the government of India, vitamin C is not likely to be sold as a drug after approval of The Department of Pharmaceuticals’ proposal. According to the proposal by The Department of Pharmaceuticals (India), vitamin C can be obtained from a variety of food products and stated that it is not a critical medicine that requires drug price regulation.
Key Players Operating in Global Vitamin C Drugs Market
The global vitamin C drugs market is highly fragmented, with a large number of domestic players accounting for major market share. Key players operating in the global vitamin C drugs market are:
- Pfizer Inc.
- AdvaCare Pharma
- The Himalaya Drug Company
- Gracure Pharmaceuticals Ltd.
- Modern Laboratories
- GlaxoSmithKline plc
- Nicholas Piramal India Ltd.
- Piramal Healthcare Limited
- Stanmark Pharmaceuticals
- Shalina Laboratories Pvt. Ltd.
- Medreich Saimirra Ltd.
- EAST AFRICAN (INDIA) REMEDIES PVT.LTD
Global Vitamin C Drugs Market: Research Scope
Global Vitamin C Drugs Market, by Form
Global Vitamin C Drugs Market, by Application
- Dietary Supplement
- Ascorbic Acid Deficiency (Scurvy)
- Urinary Acidification
- Macular Degeneration
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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