The report on the global Active B12 Test Market of Market Research Future comprises of
extensive primary research along with the detailed analysis of qualitative as well as
quantitative aspects by various industry experts, key opinion leaders to gain deeper insight
to the market and industry performance.
The global Active B12 Test Market is expected to grow at a CAGR of 7.2% during the
forecast period and is estimated to reach USD 220 million by 2023.
Vitamin B12, also called cobalamin, is a water-soluble vitamin that plays a key role in the
functioning of the brain and nervous system and the formation of red blood cells. It affects
DNA synthesis, amino acid metabolism and fatty acid. B12 is the largest and structurally
complicated vitamin and can be produced industrially through bacterial fermentation
synthesis. Vitamin B12 deficiency can cause severe damage to the brain and nervous
system. Symptoms of vitamin B12 include fatigue, lethargy, depression, poor memory,
breathlessness, headaches, and pale skin.
Increasing prevalence of vitamin B12 deficiency disease such as pernicious anemia across
the globe is the major contributor to the growth of this market. High cost of diagnostic
devices for deficiency disease is a restrain for the growth of this market.
Segments:
The global Active B12 Test Market is segmented on the basis of diagnosis which includes
ELISA assay, enzyme immunoassay, and others. On the basis of indication, the market is
segmented into folate deficiency anemia, pernicious anemia, macrocytic anemia, and
others. On the basis of end users, the market is segmented into hospitals, medical
laboratories, clinical research organization, and other users.
Key Players in the Global Active B12 test Market:
Axis-Shield Diagnostics Ltd. (U.S), Abbott (U.S), Siemens Healthcare Private Limited (U.S),
DiaSorin S.p.A. (Italy), F. Hoffmann-La Roche Ltd (Switzerland), LifeSpan BioSciences, Inc.
(U.S), Demeditec Diagnostics GmbH (Germany)
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Regional Analysis of Global Active B12 test Market:
The American region accounted for the largest share of the global market due to increasing
prevalence of neurological diseases and deficiency diseases, concentration of major market
players in diagnostics market, and technological advancement. According to the American
Society for Nutrition, Vitamin B-12 deficiency is common in wealthier countries, particularly
among the elderly. According United States Department of Agriculture Agricultural
Research Service, the prevalence of vitamin deficiency is found to be high in America.
According to Tufts University, at least 40 percent of the population is B12 deficient in this
region.
Europe is the second largest market that holds a noticeable share of the global active B12
test market. Availability of funds for research and development in diagnostics, increasing
awareness about vitamin B12 test, and strengthening healthcare system drives the market
of active B12 test.
In Asia Pacific, rising number of clinic laboratories, geriatric population with neurological
disorders, and demand for cost-effective treatment & diagnostics services are the key
factors for the market growth. Increasing prevalence of chronic diseases and neurological
disorders, for instance, diabetes, psoriasis, rheumatoid arthritis, may acts as a major
contributor to the growth of this market, since China and India which have large diabetic
patient pool. Furthermore, vegetarian diet acts as a risk factor for vitamin B12 deficiency in
this region.
The Middle East & Africa is expected to show steady growth in this market due to low
technology penetration and unavailability of innovative healthcare technologies.
Major Toc:
1 Report Prologue
2 Market Introduction