- Powder
- Liquid
- Capsule
- Tablets
Vitamin B12 (Cobalamin) Market is estimated to be valued at USD 311.7 million in 2021 and is poised to grow at a significant CAGR of 8.2% over 2022–2028. Vitamin B12 supplement, B12 supplement for vegans, vitamin B12 naturally, vitamin B12 deficiency, vitamin B12 benefits, methylcobalamin B12, adenosylcobalamin, vitamin B12 foods, vitamin B12 overdose, methylcobalamin dosage for neuropathy, and hydroxocobalamin, to name a few, are highly demanded topics and factors that have influenced market growth in a variety of ways. Leading and emerging market companies investing heavily in research and development in such corresponding factors have seen tremendous business growth. The demand for cyanocobalamin is increasing in the global cyanocobalamin market, particularly among vegans and patients with anemia. In the food and beverage, nutraceutical, and dietary supplement industries, cyanocobalamin demand is expanding at a rapid rate. In addition, the pharmaceutical industry is seeing an increase in demand for cyanocobalamin. Veganism is gaining popularity among the general public, and many businesses now provide certified vegan food products in their product lines. Food manufacturers have a lot of options to add cyanocobalamin to their goods to meet the demand for B12 among the vegan population, because fortified foods are becoming increasingly popular. In 2017, France and Germany had the greatest percentage of polled individuals aged 16 to 24. Growing environmental concerns, as well as greenhouse gas emissions, are predicted to drive market demand. Recent Market Developments: In July 2019, USFDA granted supplemental drug approval for Calomist, (Cyanocobalamin Nasal Spray) manufactured by Par Pharmaceutical, New York
Vitamin B12 Cobalamin Market Summary
Study Period
2023-29
Base Year
2022
CAGR
8.2%
Largest Market
Asia Pacific
Fastest Growing Market
North America
Vitamin B12 (Cobalamin) Market Dynamics
The increased incidence of hospital-acquired infection is a significant driver of the sterile disposables’ medical instruments market. Catheter-associated urinary tract infections, central line-associated bloodstream infections, surgical site infections, ventilator-associated pneumonia, hospital-acquired pneumonia, and Clostridium difficile infections are all illnesses that occur while receiving medical care in a hospital. As a result, demand for sterile disposable medical devices such as prefilled syringes, hypodermic needles, and others is increasing, boosting medical device market research. Hospital-acquired viral, bacterial, and fungal diseases impact 14% of all hospital patients, according to the World Health Organization (WHO). As a result, the sterile disposable medical instruments Market is expected to grow faster in the forecast period. However, rising environmental concerns are hampering the market.
North-America Got Significant Share
Vitamin B12 (Cobalamin) Market
The sterile disposable medical instruments market in Europe is likely to hold a significant revenue share in 2022, and, in the following years, it is predicted to increase rapidly. Because of the increased prevalence of chronic diseases such as diabetes and obesity in this area, North America dominated the sterile disposable medical instruments market. The market is expected to expand due to the increasing use of disposable devices to avoid the transmission of infections. Rising urbanization and rising healthcare expenditures are also contributing to the market's expansion in this region. Cardiovascular disorders are the top cause of death in the United States, according to the Centers for Disease Control and Prevention (CDC).
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The Vitamin B12 (Cobalamin) market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
- 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 start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Vitamin B12 Cobalamin Market Segmentation
form
Distribution Channel
- Online Retails
- Offline Retails
By Application
- Food Industry
- Nutraceuticals
- Pharmaceutical
- Dietary Supplements
Frequently Asked Questions
The vitamin b12 (cobalamin) market is projected to expand at a CAGR of 8.2% during the forecast period
Charkit Chemical Company LLC, Apotheca Inc., Mylan N.V., Koninklijke DSM N.V., Chemkart, Merck KGaA, American Regent, Inc.
North America is the fastest-growing region for vitamin b12 (cobalamin) market
- Charkit Chemical Company LLC
- Apotheca Inc.
- Mylan N.V.
- Koninklijke DSM N.V.
- Chemkart
- Merck KGaA
- American Regent, Inc.
- Johnlee Pharmaceuticals Pvt. Ltd.
- Interaction Pharmaceuticals Private Limited