Bone and Joint Health Supplements Market is projected to grow at a CAGR 6.6% during the forecasted period (2019-2024).
- Owing to a rise in the population of baby boomers, along with the growing prevalence of lifestyle diseases associated with aging, the market is set to witness a significant growth following the above-mentioned considerations. The consolidated aging population across countries, such as Japan and Germany, among others, is one of the key demographics that is expected to propel the demand further.
- Over the past years, the sports and fitness industry has witnessed large participation from the millennial addressing the need for active lifestyles on a regular basis. This segment of demographics is anticipated to scale the demand for bone and joint supplement since most of the prescribed supplements are a result of undertaking steps toward a preventive measure.
Scope of the Report
Bone and Joint Health Supplements Market is segmented by type into Vitamin D, Vitamin K, Calcium, Collagen, Glucosamine-Chondroitin, Omega-3 Fatty Acid, Other Types. Others include Magnesium, Hyaluronic acid supplements, etc. By Distribution Channel the market is segmented into Supermarkets/ Hypermarkets, Pharmacies, Health stores, Convenience stores, Internet retailing, Other Distribution Channels. The Geographical analysis of the market has also been included in the report.
Key Market Trends
Pharmacies hold the Largest Market Share
By the assistance of supplements, pharmacies experienced enormous growth in their sales. Pharmacies are looking forward to expanding their chain stores as well as product portfolio. They are also moving toward innovations in their sales technique. Usually, pharmacies sell prescribed medicines, but while selling bone and joint supplements they find it difficult to suggest the right supplement that is safe and effective to the customers, due to lack of knowledge. The pharmacist is encouraged to learn more, which is expected to lead to an increase in sales of their products.
The United States Holds The Major Share In North America Bone And Joint Supplement Market
The healthcare expenditure in the United States is rising every day, with a growing aged population, advanced technology, advanced pharmacies distribution channel, better medical facilities, and rise in the number of insured people. These factors are driving the bone and joint health supplements market in the country. Moreover, calcium is one of the most on-demand supplements among women in the USA, with a growing aged population, arthritis cases, and other bone and joint diseases. In the recent past, there has been a steady increase in incidences of lifestyle diseases, due to hectic schedules, as well as changing lifestyle patterns. Thus, consumers are taking preventive measures for reducing the effects of lifestyle diseases.
The bone and joint health market supplements market is expected to be highly competitive in the future, owing to the increasing demand of these supplements across various age groups, so as to prevent early bone disorders. North America holds a dominating share in the global bone and joint health supplements market followed by Europe.
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