Vitamin Test Market Research Report – Forecast to 2030

Vitamin test Market Research Report, by Type (Vitamin B12, Carotene, Folic Acid Test), Technology (high-performance liquid chromatography), End-User (Hospitals and Clinics, Ambulatory Surgical Centre, Diagnostic Centre)-Forecast Till 2030

ID: MRFR/LS/4916-HCR | | Region: Global | 90 Pages         

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Vitamin test Market Overview


The Vitamin test Market is projected to reach USD 627.82 Million by 2030 at 4.80% CAGR during the forecast period 2022-2030.


There are 13 types of different vitamins in human knowledge including Vitamin A, vitamin B including thiamine, riboflavin, niacin, pantothenic acid, biotin, vitamin B-6, vitamin B-12, and folate, amongst others. The list of vitamins also includes vitamin C, D, E, and K. Vitamins can be understood as micronutrients that are required in sufficient quantities for normal cell function, growth, and gross-motor development. For instance, the deficiency of vitamin C, folate, and vitamin B-12 may lead to anemia in many individuals. According to the information that has been circulated by the American Society of Hematology in 2014, 29% pregnant women, 38% nonpregnant women, and 43% children were anemic globally.


COVID 19 Analysis of Vitamin test Market


The obnoxious spread and outbreak of the novel coronavirus disease and its recognition as a pandemic by the WHO has not only created havoc and distress in the minds of the global target audience but it has also developed a major degree of challenges and issues for the healthcare services and service providers to deal with and conquer the issues and roadblocks, subsequently. However, the rise in consumption of snacks, appetizers, and others has increased since the pandemic has hit as people are staying at home. One of the major reasons behind this is the lockdown that has been followed which has forced the global target audience to sit back at their places and further, opt for alternate means that will help to keep themselves busy and do something productive to stay busy. With the increase in consumption of snacks like chips or fried food items, vitamin test is considered important as it is important to have the intake of these for a balanced diet and functioning.


Post the pandemic, the demand for the vitamin and mineral test is likely to increase as the global target audience has started taking their health seriously followed by their intake of food items and supplements that will help in enhancing their diet and immunity, in the long run, to deal with health issues and diseases. The global market players and governments alongside the public sector are increasing the investments and funds that give rise to the research and development activities that fuel the Vitamin test Market trends during the ongoing forecast period that ends in 2028.


Vitamin test Market Dynamics


Drivers


The key factor that is responsible for influencing vitamin test market towards excellent market growth is the increasing prevalence of vitamin deficiency. Vitamin deficiency is also caused due to change in lifestyle factors such as smoking tobacco, alcohol consumption, amongst others. Other key factors that are driving the vitamin test market towards growth is the sudden yet constant change to sedentary lifestyle, growing awareness among other reasons like the increasing population for vitamin tests, rising geriatric population, the rise in technological advancements in laboratories for clinical testing, and an increasing degree in the prevalence of chronic diseases like cancer or chronic kidney disease. All these factors are combining and contributing to the growth of the vitamin test market during the forecast period ending in 2028.


Restraints


However, the vitamin test market trends are witnessing the emergence of factors such as the high cost that is associated with the conducting of vitamin tests. Also, the limitations of the tests like false positives and false negatives alongside the lack of awareness that is prevailing in the developing countries are expected to restrict the vitamin test market growth during the forecast period that will be ending in 2028.


Technology Analysis


The existing players of the global vitamin test market are laying their focus on the development of a constant degree of innovation followed by mass-up-gradation for the product portfolio of the market. The technological ideas and employment in the global market premises id giving rise to efficiency in the product offerings that result in a better and accurate testing outcome for the patients that are located in various global locations. The volume of vitamin D tests has been witnessing a substantial degree of increase between people who are suffering from serious to chronic diseases and are developing vitamin deficiency.


Study Objectives



  • To vitamin test market report have a detailed analysis of the impact of the pandemic on the market operations and the market dynamics in the form of the market growth drivers and opportunities, that will help the market recover the losses that have been witnessed during the pandemic year of 2020. Also, the report helps to understand the factors that stimulate a demand that goes well with the expansion predictions as laid down by the market leaders and business chiefs for the forecast period.

  • To vitamin test market report aims to study the revenue earning potential that is held by the market segments which will lead the market operations during the period ending in 2028 and hence, grow as per the predictions. The report further conducts a deep discussion of the ability of the segments to fulfill the demand of the target audience that is spread in various global locations.

  • The vitamin test market report aims to draw a competitive graph amongst the prominent players of the market based on the vitamin test market factors that will help in understanding the scope of the players to emerge as international competition and trendsetters during the forecast period that will end in 2028.


Vitamin Test Market Segment Overview


The vitamin test market analysis highlights the rising responsibility of the global market segments to earn better revenues that will help in increasing the chances of the market to grow as per the predicted revenue by the end of the period in 2028. The market has been segmented based on the following factors in the global market premises:


Based on the market type


The vitamin test market size has been categorized into vitamin B12 and folic acid test, folic acid that is folate test, carotene that is beta carotene test, vitamin K1 test, vitamin E test, vitamin d 25-dihydroxy (calcitriol) test, vitamin C test, vitamin B12 test, vitamin B6 test, vitamin B5 test, vitamin B3 (niacin) test, and a series of other tests that include vitamin B2 (riboflavin) test, vitamin a (retinol) test, vitamin B1 test.


Based on the market technology


The vitamin test market is segmented based on the prevalent market technology and includes high-performance liquid chromatography (HPLC), radioimmunoassay, ELISA tests, chemiluminescent immunoassay (CLIA), and liquid chromatography-tandem mass spectrometry.


Based on the end-user industries


The vitamin test market is segmented in the global market premises and includes the use in industries like hospitals and clinics, ambulatory surgical centers, diagnostic centers, research centers, and others.


Regional Analysis


The North American market is likely to emerge as the dominantly growing region in the international market premises. The North American market consists of the US and Canadian markets which are increasing the population and so has been a rise in the deficiency of vitamins in the body of the population. This will drive the market towards growth in the period. 


Competitive Landscape


The rising competition and chances for the vitamin test market to rise as per the predictions for the forecast period is prevalent because of the prominent role of the following prominent players of the global market:



  • VitaMe Technologies Inc.

  • ORGENTEC Diagnostika GmbH

  • R-Biopharm AG

  • Siemens AG

  • DiaSorin S.p.A

  • Abbott Laboratories

  • Diazyme Laboratories

  • ImmunoDiagnostics Inc.

  • Hoffman-La Roche 


Recent Developments



  • According to the stats that have been released by the United States Department of Agriculture in 2014, 8 out of every 10 people in the American market were vitamin E deficient. Such a rate of the increasing prevalence of vitamin deficiency favors the growth of vitamin testing trends in the American region in the forecast period ending in 2028.

  • The growing awareness and research for vitamins and their benefits on health influence the market growth in the European region.

  • Cork Centre for Vitamin D and Nutrition Research had conducted a conference with the name “Vitamin D & Health in Europe: Current and future perspectives” in September 2017 in Ireland.


Report Overview


The global vitamin test market report highlights the market trends and dynamics that will help to lead the market operations during the forecast period that will be ending in 2028. The market report discusses the performance of the market segments in global locations for a larger target audience and further, discusses the role of the participating regions in the development of the global market operations. The market report further, highlights the role of the key market players and the recent developments that have been undertaken by them during the period ending in 2028.



Report Scope:

Report Attribute/Metric Details
  Market Size   627.82 Million
  CAGR   2022-2030: 4.80%
  Base Year   2021
  Forecast Period   2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Technology, And End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   VitaMe Technologies Inc., R-Biopharm AG, Abbott Laboratories, ImmunoDiagnostics Inc., F. Hoffman-La Roche, Siemens AG, Diazyme Laboratories, DiaSorin S.p.A, ORGENTEC Diagnostika GmbH and others
  Key Market Opportunities

  • Healthcare expenditure
  • High incidence of vitamin deficiency drives
  •   Key Market Drivers

  • Prevalence of vitamin deficiency
  • Change to sedentary lifestyle
  • Increase in smoking, and increasing consumption of junk food and packaged food
  • Growing geriatric population, rising consumer awareness


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    Frequently Asked Questions (FAQ) :

    High cost and limitations in tests regarding its validity can adversely impact the vitamin test market growth.

    The type-based segments of the vitamin test market are folic acid (folate) test, carotene (beta carotene) test, B12 & folic acid test, vitamin E test, vitamin a (retinol) test, vitamin K1 test, vitamin C test, vitamin B12 test, vitamin d 25-dihydroxy (calcitriol) test, vitamin B2 (riboflavin) test, vitamin B5 test, vitamin B3 (niacin) test, vitamin B6 testvitamin B1 test.

    The technologies for the vitamin test market are radioimmunoassay, high-performance liquid chromatography (HPLC), chemiluminescent immunoassay (CLIA) ELISA tests, and liquid chromatography-tandem mass spectrometry.

    Vitamin test market includes segments like ambulatory surgical centers, hospitals & clinics, research centers, diagnostic centers, and others.

    Players involved in vitamin test market are R-Biopharm AG, VitaMe Technologies Inc., F. Hoffman-La Roche, Abbott Laboratories, ORGENTEC Diagnostika GmbH, ImmunoDiagnostics Inc., Diazyme Laboratories, Siemens AG, DiaSorin S.p.A, and others.