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.
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- 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.
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.
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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.
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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
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