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NEW YORK, Jan. 25, 2021 /PRNewswire/ -- The health crisis has completely changed life as we know it and caused a significant shift in consumer demand for immune-boosting products, vitamins, and supplements. Now, due to growing awareness around heath, the wellness supplements market is projected to reach $386.29 billion by 2027, growing at a CAGR of 6.45%. Dietary supplement sales in the US, Canada, and the UK rose sharply during the pandemic and are expected to remain elevated, creating a lucrative opportunity for companies like Pfizer Inc. (NYSE:PFE), GlaxoSmithKline (NYSE:GSK), Archer Daniels Midland (NYSE:ADM), Abbott Laboratories (NYSE:ABT), and Valeo Pharma Inc. (CSE:VPH) (OTCQB:VPHIF).
Valeo Pharma Inc. (CSE:VPH) (OTCQB:VPHIF) is a leading Canadian pharmaceutical company dedicated to the commercialization of innovative prescription and over-the-counter products in Canada with a focus on Neurodegenerative Diseases, Oncology, and Hospital Specialty Products. The company joined the natural products, vitamins, and supplements space in September 2020 when it received a Natural Product License approval from Health Canada for its powerful immune system support flavonoid formulation, Hesperco.
A month later, Valeo Pharma announced that it had begun shipping online orders of the product, which couldn't have come at a better time as COVID-19 cases continued to hit record highs. The product launch also comes at a time when there is a growing body of scientific evidence from researchers conducting numerous studies on the powerful antioxidant hesperidin, which is the main ingredient of Valeo Pharma's Hesperco, and its potential role in combating viral infections.
Although further preclinical, epidemiological, and clinical studies are needed, in Wu et. al (2020), out of the screening of 1,066 natural substances with potential antiviral effect, plus 78 antiviral drugs already known in the literature for their binding to SARS-CoV-2 proteins, hesperidin was the only compound that could target the binding interface between viral Spike proteins and ACE-2 human receptors, which could bode well for Valeo Pharma and its newly launched Hesperco.
Viral Outbreaks Like COVID-19 to Become More Common
As countries across the globe work to vaccinate the population against COVID-19, the entire world is beginning to see light at the end of what has been a dark year. However, due to urbanization, globalization, and increasing human consumption of animal proteins, viral outbreaks will become much more common.
Luckily, the current health crisis has sparked a slew of research around using vitamin C and hesperidin to help boost immunity and combat the viral infection. According to research, hesperidin could be a promising candidate in the fight against COVID-19. As for vitamin C, a MDBriefcase newsletter published recently noted that vitamin C didn't demonstrate affinity to receptors that would interfere with SARS-CoV-2 infectivity. Further, many studies on the efficacy of vitamin C in preventing respiratory diseases are inconclusive or negative. So although vitamin C sales have been soaring since the start of the pandemic as consumers look to boost their immune systems, it appears that hesperidin could be a much better suited substance to fight viral infections.
To capitalize on the growing demand for immune support, global healthcare leader Abbott Laboratories (NYSE:ABT) launched a new Pedialyte formulation in December that is specifically designed with key nutrients to support immune health. In addition to the electrolytes and glucose found in Abbott's Pedialyte products, Pedialyte with Immune Support has nutrients chosen for their role in supporting the immune system, including prebiotics, vitamin B12, vitamin C, vitamin E, and zinc.
Agricultural giant Archer Daniels Midland (NYSE:ADM) shifted its focus towards nutrition at the perfect time, which helped the company boost its profits throughout the pandemic. The company's nutrition division rose 35% year-over-year to $158 million in Q2 2020 due to strong sales of probiotics, fibers, and plant-based proteins.
"Healthy eating has significantly accelerated the purchase and consumption of alternative proteins," said ADM CEO Juan Luciano. "A focus on nourishment and wellness is pushing microbiome solutions to the mainstream, driven by COVID-19 as people think about more health and wellness and immunity concerns."
Pharmaceutical giants Pfizer Inc. (NYSE:PFE) and GlaxoSmithKline (NYSE:GSK) were already well ahead of the vitamin and dietary supplements movement. In 2012, Pfizer acquired leading vitamin supplements company Alacer, which makes Emergen-C. Then in 2019, the two companies announced that they were merging their consumer health units to create "the world's largest consumer health company."
Valeo Pharma's Hesperco has begun shipping in Canada and will soon start in the US as well. The worldwide market for hesperidin is expected to grow at a CAGR of roughly 4.7% over the next three years to 2024.
For more information on Valeo Pharma, please visit this link.
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