Health Supplements Market Information: By Type (Dietary Supplements, Eye Health Supplements), By Application (Cardiology, Allergy), By Ingredients (Vitamins & Minerals, Botanicals, Amino Acids), By End User (Hospitals, Clinics) – Global Forecast till 2023
Global Health Supplements Market – Overview
Health supplements are intended to provide nutrients which may not be provided by regular diets. Health supplements are generally inclusive of fibers, vitamins, minerals, and fatty acids. The health supplements market is growing rapidly and pervasively owing to the increasing number of populace inclined towards personal fitness and healthy diet.
Acknowledging the spurting growth the market perceives currently, Market Research Future (MRFR), the leading research firm in its recently published study report asserts that the global health supplement market will garner exponential gains by 2023, growing at 7.8 % CAGR from 2017 to 2023.
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The embryonic market of health supplements is fostered by consistent positive results demonstrated by these supplements, advancements in technologies, and diverse use of these supplements. Moreover, factors such as the increase in consumers’ interest in personal fitness and healthy diet, the rising population, changing lifestyle, and increased per capita income & health care costs foster the market growth.
On the other hand factors such as the availability of counterfeit products are intimidating the market replacing good brands off the shelf. Moreover, the intense competition is inhibiting the market growth as it is not easy for new competitors to enter into the market and compete with the well-established players whose supplements are preferred the most.
Health supplements are not permitted to be marketed for the purpose of diagnosing, treating, preventing, or curing diseases. This means supplements should not make any such claims high cholesterol lowering or treats heart disease. Such claims cannot be legitimately made in case of health supplements.
Health Supplements can be beneficial to health at the same time these can also involve health risks. Also, the U.S. FDA does not have the authority to review health supplement products for safety and effectiveness before they are marketed.
Latest Industry Updates
December 19, 2018: Two pharmaceutical giants GlaxoSmithKline plc (UK) and Pfizer Inc. (US) announced their plan to merge their consumer health businesses into a new joint venture to sell non-prescription medicines such as vitamins & supplements, cold remedies, and pain relievers. The duo is targeting the combined annual sales of USD 12.7 BN.
GSK owns the 68 percent of the venture, and Pfizer will hold the 32 percent stake. The JV will sell products under GSK brands like Caltrate supplements and Nexium heartburn treatment among others.
December 13, 2018: Relevium Technologies Inc. (Canada), a company focused on identification and acquisition of assets or businesses in the Health and Wellness markets announced the launching of its Leefylyfe™ brand of organically sourced “full spectrum” hemp CBD products in the UK – on a pre-order basis.
A local supplier in Europe produces Leefylyfe products. BGX E-Health LLC (US), Relevium’s wholly-owned subsidiary is currently testing a complete line of dietary supplements derived from cannabis, with an initial focus on hemp.
Key Players
BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Alticor Inc. (U.S.), The Nature’s Bounty Co. (U.S.), Abbott Laboratories (U.S.), Herbalife International (U.S.), GlaxoSmithKline Limited (U.K), Bayer AG (Germany), Glanbia plc (Republic of Ireland), are few of the players in the health supplements market.
Market Segmentation
MRFR has segmented the report into five key dynamics;
By Type: Therapeutic Health Supplements, Dietary Supplements, Body Building Supplements, Eye Health Supplements, Specialty Supplement, PET Drugs, Diagnostics Health Supplements, and other.
By Content: Vitamins, Calcium, Minerals, Probiotic, Proteins, Ginseng, fiber, and other.
By Applications : Rheumatic Disorders, Cardiology, Allergy, and other.
By End-user: Hospitals, Research Centres, and Clinics among others.
By Regions: North America, Europe, APAC and Rest-of-the-World.
Regional Analysis
The North American region dominates the global health supplements market. The market is expected to grow, registering a substantial CAGR creating a large revenue pocket by the end of the forecast period. The availability of mainstream supplements in consumer stores is a primary driving force leading to the growing consumption and demand for health supplements in this region.
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The European region is the second-largest market for health supplements and is expected to grow at a considerable CAGR. Resurging economy and the presence of health-conscious populace is the primary factor driving the growth of the regional market.
The Asia Pacific, on the other hand, is expected to be the fastest growing market for health supplements, emerging as a promising market. The APAC market is projected to grow at a rapid rate during the forecast period.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
TOC Continued…
LIST OF TABLES
Table 1 Health Supplements Industry Synopsis, 2017-2023
Table 2 Global Health Supplements Market Estimates And Forecast, 2017-2023, (USD Million)
Table 3 Global Health Supplements Market By Region, 2017-2023, (USD Million)
Table 4 Global Health Supplements Market By Types, 2017-2023, (USD Million)
Table 5 Global Health Supplements Market By Application, 2017-2023, (USD Million)
Continued…
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LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Global Health Supplements Market
Figure 3 Segmentation Market Dynamics For Health Supplements Market
Figure 4 Global Health Supplements Market Share, By Type 2016
Figure 5 Global Health Supplements Market Share, By Application 2016
Continued…
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