"Designing Growth Strategies is in our DNA"

Vitamin B12 Market Size, Share & Industry Analysis, By Dosage Form (Syrups, Injection, Tablets, Powder, Nasal Spray), By Route of Administration (Oral, Intravenous, Subcutaneous, Nasal), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) And Regional Forecast 2020-2027

Region : Global | Report ID: FBI104816 | Status : Ongoing

 

KEY MARKET INSIGHTS

Vitamin B12 is one of the key vitamin essential for amino acid metabolism, fatty acid metabolism and DNA synthesis. It is a crucial component for efficient cellular metabolsim of the human body. Vitmain B12 is one of the largest and most structurally complex vitamin found. Natural sources of vitamins include fish, meat, egg and poultry. Since, the amount of vitamin B12 is higher in animal food sources, there is a huge prevalence of vitamin deficiency among the people that follow plant based diet. As a result, there is a  higher dependecy on multivitamins and synthetic vitamin B12 uptake among people that restrict themselves to vegan or vegetarian food sources.


Over the past years, there has been an increase in the prevalence of malnutrition and vitamin deficiencies among the younger population of the world. This could be owed to the increasing awareness regarding regular health check -ups in developed countries. According to the National Institute for Health and Care Excellence (NICE), the prevalence of vitamin B12 deficiency is around 6% among individuals aged below 60 years. According to the National Institute of Health, the global prevalence is around 15% among the general population. This factor is expected to increase the adoption of vitamin B12 supplements around the world.


However, there is limited knowledge regarding the side effects of vitamin deficiency among the people in emerging countries. Lack of knowledge regarding the availability of vitamin supplements in these regions could hinder market growth in the coming years.


Key Market Driver -

Increasing prevalence of vitamin deficiency

Key Market Restraint -

Lower awareness regarding vitamin deficiency in emerging countries


Market Segmentation:


Globally, the vitamin B12 market can be categorized among the dosage form, route of administration, distribution channel, and region. Among the segmentation of dosage form, the market can be categorized into syrups, injection, tablets, powder, and nasal sprays. Based on the segmentation of route of administration the market is divided in to oral, intravenous, subcutaneous, and nasal. On the basis of distribution channel the market is categorized into hospital pharmacy, retail pharmacy and online pharmacy.


Geographically, the vitamin B12 market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.


Key Players Covered:


Some of the major companies that are present in the vitamin B12 market are Mylan N.V, Pfizer Inc, Merck & Co., Dr. Reddy’s Laboratory, Daiicho Sankyo Company, Apotheca Inc., American Regent Inc., and others


Key Insights



  • Key Industry Trends

  • Key Industry Developments – Merger, Acquisitions, and Partnerships

  • Epidemiology of Vitamin B12 Deficiency, Key Region

  • Overview of Regulatory Scenario – Key Country/Region

  • COVID-19 Impact on Vitamin B12 Market


Regional Analysis:


Based on segmentation of geography, the vitamin B12 market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North American region is expected to rule the global vitamin B12 market and is expected to dominate the market during the forecast period. Higher awareness regarding vitamin deficiency, higher sedentary lifestyle, and increased availability of different vitamin supplements are some factors that influence the growth of the market in the region. Europe is estimated secure the second dominating position in the market owed to higher in takeoff vitamin supplements in the region combined with improved healthcare facilities that provide affordable multivitamins to the public. Higher population of vegetarians in countries such as India is estimated to bolster the prevalence of vitamin deficiency and increase the dependency on supplements in the Asia-Pacific region. The market in Latin America and the Middle East and Africa are expected to capture lower share in the global vitamin B12 market owing to lower awareness regarding vitamin deficiency in the regions.


To gain extensive insights into the market, Request for Customization


Segmentation


























 ATTRIBUTE


  DETAILS

By Dosage Form




  • Syrups

  • Injection

  • Tablets

  • Powder

  • Nasal Spray



By Route of Administration




  • Oral

  • Intravenous

  • Subcutaneous

  • Nasal



By Distribution Channel




  • Hospital Pharmacy

  • Retail Pharmacy

  • Online Pharmacy



By Geography




  • North America (USA, Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, Rest of Latin America)

  • Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)



Vitamin B12 Market Industry Developments



  • In July 2019, the U.S FDA granted supplemental drug approval for CaloMist (cyanocobalamin nasal spray) manufactured by Par Pharmaceutical, New York.

  • In February 2019, The U.S FDA issued warning letter to DK Vitamins, for falsely claiming that the vitamin B12 supplements marketed on their website is approved by the U.S FDA.

  • In December 2019, the Food Safety and Standards Authority of India (FSSAI), issued a letter lifting the ban on manufacturing of methycobalamin in the state of Gujarat, India


Vitamin B12  Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Healthcare Clients

Galemed
Ansell
abbvie
Jubilant
Lek

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X