Vitamin K Market - By Type (Vitamin K1, Vitamin K2), By Application (Osteoporosis, Vitamin K-Dependent Clotting Factors Deficiency, Prothrombin Deficiency, Vitamin K Deficiency Bleeding, Dermal Application), By Route of Administration (Oral, Parenteral, T

Vitamin K Market - By Type (Vitamin K1, Vitamin K2), By Application (Osteoporosis, Vitamin K-Dependent Clotting Factors Deficiency, Prothrombin Deficiency, Vitamin K Deficiency Bleeding, Dermal Application), By Route of Administration (Oral, Parenteral, Topical), By Distribution Channel & forecast, 2023 - 2032

Global Vitamin K Market is set to expand at a decent growth rate from 2023 to 2032, driven by the high demand for vitamin supplements.
Rising awareness of the advantages of vitamin supplements is projected to contribute to the industry growth. A substantial amount of clinical data supports the significance of vitamins in general health and their benefits to the human body, particularly the bones, leading to increased awareness and demand for vitamin K to overcome deficiencies and related disorders. As a result, the sales of vitamin K-based products such as injections, oral supplements, and dietary supplements has grown substantially.
This apart, the consistent technological innovations in the medication delivery system will further accelerate market growth. The positive outlook of the biologics sector and the introduction of medication self-administration will stimulate the demand for vitamin K over 2023-2032.
The vitamin K market is segmented as per application, route of administration, distribution channel, and region.
The vitamin K market from the Vitamin K deficiency bleeding (VKDB) application segment was valued at over USD 190 million in 2022 and is poised to gain significant traction through 2032. A lack of vitamin K In babies, a deficiency of vitamin K causes bleeding. As per the Centers for Disease Control and Prevention, early and classical VKDB is more common, affecting 1 in 60 to 1 in 250 neonates, but late VKDB is uncommon, affecting 1 in 14,000 to 1 in 25,000 children. Bleeding inside the body, such as the intestines or brain, is prevalent in babies with VKDB, which may contribute to the rising product demand.
By route of administration, the vitamin K market from the oral segment is projected to witness a high adoption rate through 2032 due to its several benefits, such as patient acceptance and comfort, non-invasiveness, affordability, and convenience of manufacturing on a large scale. As the frequency of chronic illnesses rises, the usage of oral administration will increase, thereby supporting segment expansion.
Based on the distribution channel, the vitamin K market share from the offline segment is estimated to grow exponentially between 2023 and 2032. Offline channels, such as distributors, wholesalers, and retailers, are used to distribute the product to the target customers. Offline distribution channels include hypermarkets, supermarkets, specialized stores, and pharmacy stores. The widespread availability of a range of product options to customers is likely to facilitate segment growth.
Regionally, the Asia Pacific vitamin K market is anticipated to grow at more than 10. 5% CAGR over 2023-2032. The increasing birth rate and rise in the geriatric population have increased the adoption rate and availability of vitamin supplements, thereby driving market expansion. Furthermore, the strong presence of global competitors throughout APAC nations, in line with rising government spending for healthcare R&D, will promote regional market growth.