Ergocalciferol Market
Number of pages: 100 | Report Format: PDF | Published date: May 03, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 260 million |
|
Revenue Forecast in 2031 |
US$ 496.82 million |
|
CAGR |
7.46% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Application, Route of Administration, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global ergocalciferol market was valued at US$ 260 million in 2022 and is expected to register a revenue CAGR of 7.46% to reach US$ 496.82 million by 2031.
Ergocalciferol Market Fundamentals
Ergocalciferol, also known as vitamin D2, is a type of vitamin D that is synthesized by plants, fungi, and yeasts. Ergocalciferol can be obtained from dietary sources such as fortified foods and supplements. It is metabolized in the liver to form 25-hydroxyvitamin D (25(OH)D), which is the main circulating form of vitamin D in the body. This form of vitamin D is then further metabolized in the kidneys to form the biologically active form of vitamin D, known as 1,25-dihydroxy vitamin D (1,25(OH)2D). Vitamin D is important for maintaining healthy bones, as it helps the body to absorb calcium and phosphorus from the diet. It also has other important roles in the body, such as regulating the immune system and supporting brain function. Ergocalciferol has various applications in healthcare. Some of the key applications include vitamin D deficiency, osteoporosis, rickets, hypoparathyroidism, autoimmune disorders, and others.
This market is comprehensively analyzed in the ergocalciferol industry analysis report, along with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the ergocalciferol market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the ergocalciferol market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
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Ergocalciferol Market Dynamics
There is growing awareness of the importance of vitamin D for maintaining overall health and of the risks associated with vitamin D deficiency. This has led to an increase in demand for vitamin D supplements, including ergocalciferol. Vitamin D deficiency has been linked to several chronic diseases, including osteoporosis, cardiovascular disease, and certain types of cancer. As the incidence of these diseases increases, so does the demand for vitamin D supplements. The world's population is aging, and older adults are at higher risk of developing vitamin D deficiency due to reduced sun exposure and changes in skin physiology. As a result, there is increasing demand for vitamin D supplements, including ergocalciferol, to help maintain bone health and prevent fractures. There is a growing trend towards functional foods and beverages that offer health benefits beyond basic nutrition. Vitamin D-fortified foods and beverages, including those containing ergocalciferol, are becoming increasingly popular as a convenient way to boost vitamin D intake. Ergocalciferol is a vegan-friendly form of vitamin D, as it is derived from plants rather than animal products. As the popularity of veganism and plant-based diets continues to grow, so does the demand for ergocalciferol supplements.
While there is growing awareness of the importance of vitamin D, many consumers may still be unaware of the different forms of vitamin D and their sources, thus, negatively impacting the demand for ergocalciferol supplements. The ergocalciferol market is subject to regulatory oversight, particularly regarding labeling and claims. This can create challenges for manufacturers and limit the types of claims that can be made about the benefits of ergocalciferol. Ergocalciferol is just one of several forms of vitamin D, including cholecalciferol (vitamin D3). While ergocalciferol is vegan-friendly and can be derived from plant sources, cholecalciferol is more commonly used. It may be seen as more effective by some consumers.
Ergocalciferol Market Ecosystem
Ergocalciferol Market, by Application
Ergocalciferol Market, by Route of Administration
Ergocalciferol Market, by Distribution Channel
Ergocalciferol Market by Application
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The hypoparathyroidism segment accounts for sizeable revenue shares in the global market. Hypoparathyroidism is a condition characterized by insufficient parathyroid hormone (PTH) production by the parathyroid glands, leading to low calcium levels in the blood. Ergocalciferol is used to treat hypoparathyroidism by increasing the absorption of calcium in the intestine. The prevalence of hypoparathyroidism is increasing globally, which is leading to a higher demand for ergocalciferol supplements. Vitamin D2 supplements are increasingly recognized for their ability to increase calcium absorption in patients with hypoparathyroidism, which drives demand for these products. Many countries have favorable reimbursement policies for ergocalciferol supplements used to treat hypoparathyroidism, which is contributing to market growth. Advancements in technology and production processes have made ergocalciferol supplements more affordable and accessible, which is driving growth in the hypoparathyroidism segment. The geriatric population is more prone to hypoparathyroidism, which is expected to increase the demand for ergocalciferol supplements.
The market segmentation sections provide the ergocalciferol market outlook regarding the demarcation of different consumer groups. Market segmentation is the split of industry into subgroups depending on characteristics such as application, route of administration, and distribution channel. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential ergocalciferol market demand opportunities.
Ergocalciferol Market by Region
North America dominates the global ergocalciferol market with the largest revenue share. One of the primary factors is the high prevalence of vitamin D deficiency in the region, particularly in the United States. Moreover, the region has a well-established healthcare infrastructure, advanced research and development facilities, and a high level of consumer awareness about vitamin D supplements. These factors contribute to the strong demand for ergocalciferol supplements in North America. In addition, many pharmaceutical companies that manufacture ergocalciferol products are based in North America, which further drives market growth in the region. Furthermore, the region has favorable government policies and regulations that support the development and marketing of ergocalciferol supplements.
Similarly, Asia Pacific is expected to show significant growth during the predicted timeframe of 2023 to 2031. The growth of this region is majorly attributed to the rapidly growing geriatric population in Asian countries such as Japan and South Korea. Additionally, rapidly emerging economies, enhancing healthcare facilities, and the growing interest of market players in this region, especially in economies such as India, China, and Japan, further contribute to the overall market growth.
Based on the regions, the global ergocalciferol market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of ergocalciferol industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level ergocalciferol market overview.
Key Components of the Report
Ergocalciferol Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report
Ergocalciferol is an inactivated vitamin D analog (Vitamin D2). The production of ergocalciferol was prompted by the identification of dietary deficiency, more specifically vitamin D, as the main causative factor for developing rickets.
The market size of the global ergocalciferol market in 2022 is US$ 260 million.
North America accounts for the largest revenue share in the global ergocalciferol market.
The global ergocalciferol market is estimated to grow at a revenue CAGR of 7.46% from 2023 to 2031
The rising prevalence of vitamin D deficiency, growing awareness, and rapidly growing geriatric population are the prominent trends in the global ergocalciferol.
Growing research and development activities for developing novel drugs are few opportunities in the global ergocalciferol market.
Limited drug availability and lack of awareness are restraining factors that hamper overall market growth.
Eli Lilly and Co., Sanofi S.A., Sun Pharmaceutical Industries Limited, Chase Chemical Corporation, and other notable players are some of the major market players in the global ergocalciferol market.
The oral route of administration segment accounts for the highest revenue share in the global market.
*Insights on financial performance are subject to the availability of information in the public domain