Global Vitamin B12 Market
Market Outline: Global Vitamin B12 Market
Vitamin B12 is a water-soluble vitamin that is involved in the metabolism process (both fatty acid and amino acid metabolism). It is a cofactor in DNA synthesis. It is also known as cobalamin. It is particularly important in the normal functioning of the nervous system via its role in the synthesis of myelin, and in the maturation of developing red blood cells in the bone marrow. It is the largest and most structurally complex vitamin. Vitamin B12 deficiency can potentially cause severe and irreversible damage, especially to the brain and nervous system. The most common cause of vitamin B12 deficiency in developed countries is impaired absorption due to a loss of gastric intrinsic factor, which must be bound to food-source B12 in order for absorption to occur.
Market Dynamics: Global Vitamin B12 Market
The factors which are streaming the growth of global vitamin B12 market are the harm which vitamin B12 deficiency causes. Vitamin B12 deficiency can potentially cause severe and irreversible damage, especially to the brain and nervous system. At levels only slightly lower than normal, a range of symptoms such as fatigue, lethargy, difficulty in walking (staggering balance problems), depression, poor memory, breathlessness, headaches, and pale skin. In elderly people (over age 60) the acid production in stomach is less, thereby increasing their probability of B12 deficiencies. Vitamin B12 deficiency can also cause symptoms of mania and psychosis. Vitamin B12 deficiency is most commonly caused by low intakes, but can also result from malabsorption, certain intestinal disorders, low presence of binding proteins, and use of certain medications. However, low awareness among people of underdeveloped countries may hamper the growth of global vitamin B12 market in near future.
Market Scope: Global Vitamin B12 Market
Global vitamin B12 market is segmented based on product types and application/end user.
Based on the product type, global vitamin B12 market is segmented into the following:
- 98% Vit B12
- 2% Vit B12
- 1% Vit B12
Based on the end user/application, global vitamin B12 market is segmented into the following:
- Pharma Industry
Regional Analysis: Global Vitamin B12 Market
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Regional Analysis: Global Vitamin B12 Market
North America dominates the global vitamin B12 market due high prevalence of diseases associated with the deficiency of cobalamin. People over there are more concern regarding their health. Moreover, there is presence of technologically advanced healthcare infrastructure, and availability of novel therapeutics options pertaining to the treatments. However, Asia Pacific global vitamin B12 market is anticipated to grow at a steady rate over the time period due to their increasing awareness and ongoing developments in the healthcare infrastructure. Increasing government initiatives, and more funds given to the research and development sector is streaming the growth of global vitamin B12 market.
Competition Assessment: Global Vitamin B12 Market
Some of the key players in the global vitamin B12 market include:
- Yufeng Industry Group
- Hebei Huarong Pharmaceutical Co., Ltd.
- Ningxia Kingvit Pharmaceutical Co., Ltd.
- NCPC Victor Co., Ltd.
Notable Market Developments: Global Vitamin B12 Market
- In 2018, Scientists from Yale University discovered that human gut bacteroides capture vitamin B12 via cell surface-exposed lipoproteins.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2013-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market