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The global vitamin supplements market will grow at a calculated annual
growth rate (CAGR) of 6.8%between 2014 and 2020 according to results from
a report by US-based market research group Persistence Market Research.
Carl Gibson, Chief Executive Officer of
Complementary Medicines Australia
(CMA), has welcomed the results.
He said the findings can be attributed
to several factors driving growth in the
complementary medicines industry.
'In the Asia-Pacific -- already the largest
market for vitamin supplement products
-- an ageing population is one of these
key factors. With increasing age it is
more difficult for the body to absorb the
required nutrients from food and people
are turning to supplements to bridge
the gap,' Mr Gibson said.
'Ensuring optimal levels of Vitamin D
is of particular concern to the elderly,
as they generally have a lower exposure
to sunlight and many suffer from loss of
appetite. As a result, the report predicts
that Vitamin D will lead the growth in
'Increased consumer awareness of
health issues, coupled with rising
healthcare costs, is found to be
influencing supplement demand in
North America, while the supplement
market in Europe is being propelled
by the incidence of chronic diseases,
among other factors.'
$75 million for new
The Federal Government has announced
the PBS listing of three new drugs on the
Pharmaceutical Benefits Scheme (PBS)
from 1 April.
They are: alemtuzumab (Lemtrada)
for the treatment of relapsing-remitting
multiple sclerosis (RRMS); everolimus
(Afinitor) for the treatment of metastatic
or unresectable, well-differentiated
malignant pancreatic neuroendocrine
tumour (pNET); and leuprorelin
(Lucrin) for the treatment of central
precocious puberty (CPP). The $75
million commitment over four years to
subsidise them on the PBS is subject to
final arrangements being met by the
suppliers of the medicine.
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