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The global vitamin d testing market size was valued at USD 605.9 Million in 2018 and is projected to reach USD 841.8 Million by 2026, exhibiting a CAGR of 4.2% in the forecast period 2019 to 2026.
Existing market players operating in the global market are focusing on constant innovation and up-gradation of their product portfolio with new and efficient product offerings for better and accurate testing outcomes for the patients. One of the critical reasons for the global vitamin D testing market growth is the increasing volumes of the vitamin D tests, driven by the connection between several serious and chronic diseases and a vitamin deficiency.
Rise in awareness regarding the testing in both developing and developed nations, and the emergence of new research demonstrating the importance of vitamin D in an individual’s overall health, is propelling the global vitamin D testing market growth. This, coupled with, increasing investments by major players in research and development for new vitamin D testing technologies are also boosting the market growth globally.
The change in the vitamin D testing market trends is also primarily driven by increased demand for point of care testing which includes results within a few minutes and the rising trend of homecare testing. Some of the other factors which are also contributing to the market growth are the increase in the efficiency and accuracy of the results of vitamin D testing products.
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The introduction of new and advanced vitamin D testing products by market players such as EverlyWell, Inc., which is a company specializing in providing diagnostic health services at homes in the U.S. and one of their most popular diagnostic testing kits is the Vitamin D testing kit is expected to drive the growth of the vitamin D testing market in developed as well as emerging countries, during the forecast period 2019-2026.
"New Product Launches Aimed at Patient Convenience Expected to Drive Market Growth"
One of the most critical drivers of the Vitamin D testing is that a number of new technologically advanced products are being launched with particular focus and emphasis towards increased convenience and comfort of the patients on whom the tests are due to be performed.
These conveniences include sample collection in homecare settings and the ability to generate the past history report of the patient in order to compare the past test results with the current results, to better guide the treatment course if required. For instance; EverlyWell, Inc., is a company specializing in providing diagnostic health services at homes in the U.S. and one of their most popular diagnostic testing kits is the Vitamin D testing kit.
This Vitamin D testing kit is one of the key examples where the objective of patient convenience is achieved i.e. sample collection can be done through a single prick and no need of any hospital/ diagnostic center visit. For the Vitamin D testing that is performed at hospital settings or any other laboratory settings, there is an increasing need for testing that provides accuracy and speed, in terms of results as Vitamin D deficiency are critical for the diagnosis, treatment, and prevention of a number of other medical conditions.
For instance; bioMérieux SA’s product offering of VIDAS 25 OH Vitamin D Total uses an immunoenzymatic method for the measurement of Vitamin D2 and Vitamin D3 and provides precise and rapid results within 40 minutes.
"25 -Hydroxy Vitamin D Testing to account for the highest market share by 2026 "
25 -Hydroxy vitamin D is the most used nutritional assessment due to its longer half-life of 3 weeks. The new product launches for 25 (OH) D are driving the growth of the segment and same is expected to drive the market growth during forecast period. 25 -Hydroxy vitamin D testing segment is estimated to have the largest market share among the product segment. The 25 -Hydroxy vitamin D testing segment accounted for a market share of 85.2% in 2018 and is expected to decline during the forecast period.
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For the measurement of the concentration of 25OH Vitamin D in serum in case of vitamin D deficiency and response of vitamin D supplements, 25 -Hydroxy Vitamin D Testing is useful. These factors are also driving the growth of the 25 -Hydroxy vitamin D testing segment. The 1,25-Dihydroxy vitamin D testing segment is estimated to grow at a faster CAGR during the forecast period.
The 1,25 dihydroxy vitamin D test is useful for diagnosis of renal dysfunction, in combination with parathyroid hormone. The use of this test is increasing for diagnosis of different disorders which are specifically dependent on the level of 1,25 dihydroxy vitamin D. This is anticipated to fuel the growth of the segment during the forecast period.
"Growing Awareness of Vitamin D Deficiency and Increasing Demand for Vitamin D Testing Products Expected to Result in The Highest CAGR in the Asia Pacific "
North America generated a vitamin D testing market revenue of US$ 206.4 Mn in 2018 and is anticipated to account for a dominant vitamin D testing market share during the forecast period. Growth witnessed in the region is likely to be driven by the increasing demand for technologically advanced testing products due to the high prevalence of vitamin D deficiency in this region. This is especially applicable in instances where there is a steady deterioration of symptoms of chronic diseases such as inflammatory bowel disease (IBD).
North America Vitamin D Testing Market Size, 2018
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In developed countries, the adoption of vitamin D testing products such as 1,25-Dihydroxy vitamin D testing is increasing along with the existing segments of 25 -Hydroxy vitamin D testing and 24,25-Dihydroxy vitamin D amongst others. Whereas, in emerging countries such as India and China, the rise in awareness of vitamin D deficiency is fueling growth in the vitamin D testing market during the forecast period. In countries like China and India, due to the strategies employed by key market leaders, new products are being launched. In Japan, after the approval of the reimbursement code, new vitamin D testing products are being launched by key market leaders.
"DiaSorin S.p.A., To Be the Leading Player in The Vitamin D Testing Market "
DiaSorin S.p.A., emerged as the leading player with the highest market share in 2018, as the company has a number of technologically advanced products due to its LIAISON line of product offerings. This product offering has a number of testing options due to its diverse specialty menu which includes including 30 high specialty tests.
In addition, other market players are also launching new products such as EverlyWell, Inc., which is a company specializing in providing diagnostic health services at homes in the U.S. and one of their most popular diagnostic testing kits is the Vitamin D testing kit. Other players are F. Hoffmann-La Roche Ltd, DiaSorin S.p.A., Abbott, bioMérieux SA, Siemens Healthcare GmbH, Beckman Coulter, Inc., RECIPE Chemicals + Instruments GmbH, Quidel Corporation, Thermo Fisher Scientific and Immunodiagnostic Systems.
The increasing prevalence of vitamin D deficiency in the general population is one of the key factors helping in greater vitamin D testing market revenue generation. The increasing R&D initiatives in the vitamin D testing market and the recent regulatory approvals are also positively contributing to the growth of the market. The report focuses on market size in terms of revenue (US$ Mn), of Products, for the period 2015-2026.
The report provides qualitative and quantitative insights on the vitamin D testing products industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The report offers information pertaining to market dynamics and competitive landscape including drivers, restraints, opportunities for market players, and trends. The report analyzes and evaluates the current market size, growth rate, and forecast of the global market, in regard to product, which is segmented into the 25 -Hydroxy Vitamin D Testing, 1,25-Dihydroxy Vitamin D Testing and 24,25-Dihydroxy Vitamin D Testing. On the basis of application, the market is categorized into clinical testing and research testing. On the basis of the end user, the market is categorized into diagnostic laboratories, hospitals & clinics and others.
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The report also offers key insights related to an overview of the vitamin D testing market analysis and trends (2018) - for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, prevalence of vitamin D deficiency - for key countries, 2018, vitamin D testing volumes - for key countries/regions, 2018 and 2028, distribution of the global vitamin D testing market (in revenues) by technology (ELISA; LC-MS/MS; CLIA, RIA), 2018 and 2028, technological evolution in vitamin D testing, key industry developments - mergers, acquisitions, and partnerships and key growth indicators of the global market
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Fortune Business Insights says that the Vitamin D Testing market was valued at USD 605.9 Million in 2018 and is projected to reach USD 841.8 Million by 2026.
In 2018, the market was valued at USD 605.9 Million.
Growing at a CAGR of 4.2%, the market will exhibit steady growth in the forecast period (2019-2026)
25 -Hydroxy Vitamin D Testing is expected to be the leading segment in this market during the forecast period.
New technologically advanced product launches and rise in awareness of vitamin D deficiency in emerging countries will drive the growth of the Vitamin D Testing Market.
DiaSorin S.p.A., F. Hoffmann-La Roche Ltd and Abbott are the top players in the market.
North America is expected to hold the highest market share in the market.
Increasing awareness of 1,25-Dihydroxy Vitamin D Testing, added benefits of testing 1,25-Dihydroxy Vitamin D Testing to detect renal disorders, and increasing government support would drive the adoption of 1,25-Dihydroxy Vitamin D Testing.
Increasing adoption of 1,25-Dihydroxy Vitamin D Testing is one the key trends of Vitamin D Testing Market.
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