ALBANY, New York, Aug. 20, 2019 /PRNewswire/ -- According to a recent report by Transparency Market Research, the global Prenatal Vitamin Supplements Market is expected to witness a substantial growth during the forecast period of 2016 to 2024. The growth of the market is the result of rising awareness about healthcare of pregnant women across the globe.
According to the report by Transparency Market Research and various other studies, pregnancy brings various health issues in a woman's body such as fatigue and deficiencies are few to name. Owing to this, a pregnant lady requires additional supplements to relieve her from any further damage to her body and to the yet to come baby. This is another major factor that is expected to boost the growth of global prenatal vitamin supplements market during the projected timeframe.
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The Market to Become Highly Lucrative During the Forecast Period
Owing to various government initiatives for the betterment of women's health during pregnancy, the global prenatal vitamin supplements market is expected to offer high growth opportunities for the players. As per the report, the market has the potential of generating revenue worth US$56.10 bn during the forecast period. This implies, that by leveraging opportunities the players can grow substantially in the time frame.
Moreover, the prenatal vitamin supplements market is expected to witness a consistent 7.7% CAGR during the forecast. This growth of the market is a result of various technologies such as IoT and machine learning that the manufacturers use to enhance their production capacity.
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Experts reveal through post historical analysis that the global prenatal vitamin supplements market reached to the value of US$ 29.12 Bn. Looking at the initial and expected revenue generated, experts suggest that the market is highly lucrative for the players as people are more alert and cautious about the wellbeing of children and pregnant women.
Asia Pacific Emerging as Leading Region for the Players
Owing to the dire need of institutional change in maternal care field in countries like India and China, Asia Pacific is expected to emerge as a leading region of global prenatal vitamin supplements market. Also, a substantial number of women in emerging economies are deprived from proper nutrition during the peak time of growth of the fetus. It is because of this reason that India and China are extensively investing in developing robust infrastructure for maternal care.
As a result of such initiatives in these countries, players foresee a voluminous revenue generation in Asia Pacific. These initiatives tend are expected to boost the global prenatal vitamin supplements market's dominance during the forecast period.
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Lucrative Opportunities to Attract More Players to Join the Market
As a result of emerging healthcare initiatives for women, the global prenatal vitamin supplements market has a highly competitive landscape. However, looking at the potential of the market, various new players are entering the market to capture the growth opportunities. This as a result is further intensifying the competition in the market. In order to withstand the competition, new players are adopting certain strategies.
Strategies such as mergers and partnerships are key strategies that are expected to support these players to overcome the tough competition. Moreover, these players are also focusing on research and development department to develop products that can help them place their businesses a convenient position in the global prenatal vitamin supplements market.
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The study presented here is based on a report by Transparency Market Research (TMR), titled, "Prenatal Vitamin Supplements Market (Dosage Form - Capsule, Powder and Gummy; Distribution Channel - Hospital Pharmacies, Online Pharmacies, Supermarkets, and Drug Stores) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
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