Health Supplements Market Research Report: By Applications (Rheumatic Disorders, Cardiology), By Ingredients (Amino Acids, Botanicals, Enzymes), By Type (Bodybuilding Supplements, Dietary Supplements, Eye Health Supplements)
Health supplements have gained massive popularity and demand from consumers over the past few years and are commonly used for their health benefits such as the reduction of disease risk, treatment for health issues such as allergies, rheumatic disorders, cardiology, among others. Important factors such as the changing lifestyles of consumers and the rise in urbanization, increasing awareness about the benefits of health supplements.
According to Market Research Future (MRFR), the Global Health Supplements Market is expected to grow at a 7.8% CAGR during the forecast period, 2017-2023.
Segmentation
The global health supplements market has been segmented based on the type, application, ingredient, end user, and region.
Based on the type, the global market for health supplements has been segmented into dietary supplements, bodybuilding supplements, specialty supplements, eye health supplements, and others.
Based on the application, the health supplements market has been segmented into cardiology, rheumatic disorders, allergy, and others.
Based on the ingredient, the market has been segmented into vitamins & minerals, amino acids, botanicals, enzymes, and others.
Based on the end user, the market for health supplements has been segmented into hospitals, clinics, research centers, and others.
Based on the region, the global health supplements market has been segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa.
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Key Players
the key players in the global health supplements market are Herbalife International (U.S.), E. I. du Pont de Nemours and Company (U.S.), Abbott Laboratories (U.S.), Alticor Inc. (U.S.), The Nature’s Bounty Co. (U.S.), BASF SE (Germany), Bayer AG (Germany), Glanbia plc (Ireland), and GlaxoSmithKline Limited (U.K), among others.
Regional Analysis
The Americas are the largest region with the leading market share of the global health supplements market owing to the constant product innovations driven by the presence of significant market players in the region, along with the expenditure on research and development by the governments. These factors are also expected to drive market growth. The urban lifestyle of the consumers is also likely to drive the demand for health supplements over the forecast period.
Europe is the second largest region of the global health supplements market and a lucrative market for health supplements, owing to factors such as the high awareness among consumers regarding welfare and healthcare products along with the awareness about the benefits of health supplements, the availability of superior quality healthcare products, and the high government expenditure on the healthcare sector.
The Asia Pacific is the fastest growing region in the global health supplements market owing to the advancements in the healthcare sector along with the expenditure by the government on research and development in order to offer citizens high-quality healthcare facilities and products, especially in developing nations, increase in the geriatric and patient population, which consequently influence the growth in the demand for supplements. The health supplements market in the Aisa Pacific region is also influenced by the consumer preference for natural and organic -based supplements, which is encouraging market players shifting focus towards research on innovation and product development.
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Industry News
FDA announced its plan to conduct thorough examinations to remove harmful products from the global health supplements market.
Banned Substances Control Group released its advisory list of ingredients acceptable in dietary supplements, elaborating on FDA’s advisory list of ingredients which only contained four ingredients.
CVS Pharmacy announced their plan to only sell health supplements after their thorough safety examination by third-party organizations, in order to maintain the quality standards of products offered to consumers.
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