In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Prenatal vitamins preparations help to cover nutritional gap during pregnancy. It contains many vitamins and minerals such as iron, calcium and folic acid that are crucial during pregnancy period and also helps baby to get essential nutrients. Folic acids which are present in prenatal vitamins preparations reduce the neural defects such as abnormalities linked to brain and spinal cord. In the developed countries such as U.S, it is recommended prenatal vitamin preparation for pregnant women to take prenatal vitamins preparations to reduce birth defects. Prenatal vitamins preparations are consumed throughout the pregnancy period and also during the period of breastfeeding.
The global prenatal vitamin preparation market is anticipated to expand at a CAGR around 8.0% during 2017-2027. It is anticipated to reach significant market size during the forecast period. The increasing awareness about the parental vitamins is anticipated to fuel the demand for the prenatal vitamin preparation during forecast period. Additionally, lack of nutritional supply from everyday diet is also a major factor for the expansion of the prenatal vitamin preparation market.
The global prenatal vitamin preparation market can be segmented on the basis of product type and distribution channel. On the basis of product type, it is sub-segmented into calcium, iron, folic acid and essential fatty acids. Folic acid sub-segment is anticipated to be the leading segment on the account of increasing usage of the folic acids in pregnancy in order to prevent birth defects. On the basis of distribution channel it is sub-segmented into drug store, online pharmacies, supermarkets, hospital pharmacies. Hospital pharmacies is anticipated to be the largest segment on the account of large pool of patients coupled with availability of developed technologies to tackle chronic disease. Online pharmacies is predicted to be the fastest growing sub-segment on the account of increasing penetration of internet in the various developing regions across the globe.
By region, global prenatal vitamin preparation market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to contribute the largest market share during the forecast period on the account of increasing rate of pregnancy coupled with growing awareness related to the prenatal vitamin preparation. However, Asia-Pacific is anticipated to be the fastest growing region in the global prenatal vitamin preparation market on the account of rising demand for health supplements from various developing countries. Additionally, the increasing awareness among the teenagers regarding prenatal vitamin preparation is anticipated to propel the market growth of the prenatal vitamin preparation worldwide.
Our in-depth analysis segmented the global prenatal vitamin preparation market in the following segments:
Global prenatal vitamin preparation market is further classified on the basis of region as follows:
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Prenatal vitamin preparations provide opportunities for various key market players in healthcare industry. The factors such as increasing awareness among the pregnant women regarding the use of prenatal vitamin preparation coupled with increasing birth rates around the globe is a major growth driver for the prenatal vitamin preparation market. Additionally, increasing disposable income and rising penetration of internet around the globe is making people aware about the choices of the supplements which drive the prenatal vitamin preparation market.
However, side effects related to use of prenatal vitamins preparations is hampering the market growth. The decreasing birth rates, adoption of policy such as one child per family are a major challenge for the vitamins preparations market during the forecast period.