North America Vitamin and Minerals Market Report 2022 to 2030

North America Vitamin and Minerals Market Analysis

$ 3999

This report presents a strategic analysis of the North America Vitamin and Minerals Market and a forecast for its development in the medium and long term. It provides a broad overview of the market dynamics, trends and insights, growth drivers and restraints, segmentation, competitive landscape, healthcare policies and regulatory framework, reimbursement scenario, challenges and future outlook. This is one of the most comprehensive reports about the North America Vitamin and Minerals Market, offering unmatched value, accuracy and expert insights.

ID: IN10NAPH001 CATEGORY: Pharmaceuticals GEOGRAPHY: North America

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North America Vitamin & Minerals Market Executive Summary

North America's fastest-growing economy in 2021 was the United States. United States health spending is projected to have grown by 4.2% to $4.3 trillion in 2021, compared with a growth surge of 9.7% in 2020, according to the report from actuaries at the Centres for Medicare and Medicaid Services.

Total health spending in Canada reached a new level in 2021, at more than $308 billion, or $8,019 per Canadian. Health expenditure represented around 12.7% of Canada’s gross domestic product (GDP) in 2021, following a high of 13.7% in 2020. Governments and insurance stakeholders also need to discuss win-win reimbursement schemes that allow the democratization of telemedicine and provide lasting benefits for patients at an effective cost.

COVID-19's emergence has impacted millions of people around the world, as well as various industrial sectors. The outbreak of the Coronavirus has had a significant impact on OTC medicine sales, with a greater focus on personal health during the pandemic. This has resulted in a considerable increase in the consumption of cold and flu medications, as well as vitamins. However, OTC medicine sales were prohibited in some areas to prevent stockpiling and sustain supplies. As a result, the pandemic has had a favorable influence on business, as well as a moderately negative impact in some locations, and the industry is expected to witness an increase in demand as COVID-19 prevalence declines in various nations.

Over the next few years, the emerging countries of Latin America and Southeast Asia are expected to have the fastest increase in the worldwide over-the-counter (OTC) pharmaceuticals industry. This is due to the fast-rising population in these areas, as well as the growing middle class and growth in disposable income, which will create a critical mass of people who will be able to acquire OTC medications. Supermarkets are also contributing to the rise of the OTC pharmaceutical market in emerging economies, along with new channels of accessibility at retail outlets in emerging markets.

The rising demand for dietary supplements, which are utilized as an alternative to prescription medications to treat a variety of health concerns like obesity, diabetes, and heart disease, is what is driving the expansion of this market. Consumption of vitamins and minerals has increased recently as a result of consumers' rising understanding of the advantages of these goods.

Market Size and Key Findings

The Global Vitamin and Minerals Market size is at around US $ 17.54 Bn in 2021 and is projected to reach US $ 22.21 Bn in 2030, exhibiting a CAGR of 6.7% during the forecast period.

North America Vitamin & Minerals Market Size (in $Bn) (2021-2030F)

Market Dynamics

Market Growth Drivers Analysis

Consumers' increased interest in health and wellbeing, their changing lifestyles, and their readiness to adopt healthier dietary choices are all indicators of the rising demand for vitamins and minerals in the North America market. The COVID-19 pandemic also had a favourable impact on consumers' perspectives toward leading healthy lives, which in turn increased demand for vitamins and minerals. The market for vitamins and minerals will grow as consumer preferences for better lifestyles and rising purchasing power as a result of economic developments increase.

Competitive Landscape

Key Players

The prominent players operating in this market include Amway, INFINITUS, Herbalife Nutrition, DEEJ, Usana, Blackmores, PERFECT (CHINA), Swisse, China New Era Group, By-health, Suntory, Pfizer, Beijing Tong Ren Tang, Shanghai Pharma, TIENS, GNC, Real Nutriceutical, Southernature

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Vitamin & Minerals Market Segmentation

The vitamin & minerals market is segmented as mentioned below:

By Type (Revenue, USD Billion):

Vitamin A
Vitamin B
Vitamin C
Vitamin E
Calcium
Iron
Magnesium
Zinc
Others

By Application (Revenue, USD Billion):

Male
Women
Pregnant woman
Elderly
Other

By Sales Channel (Revenue, USD Billion):

Manufacturer/Distributor/Service Provider
Aftermarket

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.