LONDON–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/Biotechnology?src=hash" target="_blank"gt;#Biotechnologylt;/agt;–The global rickets treatment market is expected to post a CAGR close to
6% during the period 2019-2023, according to the latest market research
report by Technavio.
A key factor driving the growth of the market is the availability of OTC
medicines. For conditions such as rickets, which are rare and caused due
to deficiencies of vitamin D and certain minerals such as calcium and
phosphate, OTC availability of the drugs contribute significantly to the
market owing to their easy access. Considering rickets as one of the
rare forms of vitamin D deficiencies and the limited availability of
approved drugs, the availability of OTC drugs widens the patient base,
which aids in driving the market growth. OTC drugs are a convenient
treatment option for individuals with mild conditions, as they can opt
for self-medication. These factors lead to the overall cost reduction
for patients to treat their vitamin D and mineral deficiencies and
encourage them to opt for therapeutics in the form of OTC drugs.
As per Technavio, the rising adoption of a vegan diet will have a
positive impact on the market and contribute to its growth significantly
over the forecast period. This global
rickets treatment market 2019-2023 research report also
analyzes other important trends and market drivers that will affect
market growth over 2019-2023.
Global rickets treatment market: Rising
adoption of a vegan diet
Animal products such as meat, fatty fish, beef, and dairy products are
the major sources of vitamin D. As vegans avoid such foods, they are at
high risk of cobalamin and calcium deficiency and an increased risk of
inadequate levels of vitamin D and iodine, which drive the prospects of
rickets prevalence. Although vegan substitutes such as soya milk and
cereals provide vitamin D, the quantities are not adequate in these food
materials, thus leading to several deficiencies, including vitamin D,
which is the major factor for causing rickets. Globally, there are many
awareness campaigns regarding the vegan diet, which are further adding
to its adoption. For instance, The Vegan Society raises awareness and
educates people about the vegan diet through public talks and events.
Such awareness campaigns encourage people to adopt a vegan diet, which,
in turn, would propel various vitamin and mineral deficiencies, thus
supporting the global rickets treatment market growth.
“Apart from the rising adoption of a vegan diet, the growing
awareness about vitamin D deficiency, the increasing strategic
alliances, the growing use of e-commerce, and the advent of biologics is
expected to boost the overall growth of the market in the coming years,” says
a senior analyst at Technavio.
Global rickets treatment market: Segmentation
analysis
This market research report segments the global rickets treatment market
by type (vitamin D related rickets and minerals-related rickets) and
geographical regions (North America, Asia, Europe, and ROW).
The North American region led the market in 2018, followed by Asia,
Europe, and ROW respectively. However, during the forecast period, Asia
is expected to register the highest incremental growth due to the strong
growth in disposable income combined with improving healthcare
infrastructure.
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