Active B12 Test Market Size, Share, Growth, And Industry Analysis, By Type (ELISA Assay, Enzyme Immunoassay, Others, Active B12 Test), By Application (Folate Deficiency Anemia, Pernicious Anemia, Macrocytic Anemia), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Active B12 Test Market Report Overview

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The global active B12 test market size was 170.8 million in 2022 and is projected to touch USD 245.3 million by 2031, exhibiting a CAGR of 24.1% during the forecast period. 

The COVID-19 pandemic has been unprecedented and staggering, with the Active B12 Test market experiencing higher/lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A B12 test is a blood examination that gauges your body's B12 levels. Anaemia, which results in fatigue and weakness, is prevented by vitamin B12 by aiding in the production of red blood cells. By regulating the concentrations of molecules known as neurotransmitters, which transport nerve impulses from one cell to another, it also affects neurological function. Numbness or tingling in the hands or feet, loss of balance, sadness, disorientation, and memory issues can all result from neurotransmitter dysfunction. The water-soluble vitamin B12, also known as cobalamin, is crucial for the health of the brain, neurological system, and red blood cell production. It impacts the metabolism of fatty acids, amino acids, and DNA synthesis. The production of B12, the largest and most physically complex vitamin, is possible through bacterial fermentation synthesis. The brain and nervous system might suffer serious harm from a vitamin B12 shortage. Fatigue, sluggishness, sadness, impaired memory, shortness of breath, headaches, and pale skin are just a few of the vitamin B12 symptoms.

Due to rising consumer awareness of folate insufficiency, pernicious anaemia, and the prevalence of macrocytic Lancia in adults, the global market for active b12 tests has been expanding steadily. escalating demand for folic acid food fortification. The primary factor influencing the global Active B12 market is the rise in vitamin deficiencies among patients as a result of altered lifestyle behaviors including smoking, eating poorly, not exercising, etc. Additionally, growing public knowledge of the advantages of Active B12 testing is probably going to support market expansion.

COVID-19 Impact: Growing Development in Healthcare Service to Boost Market Growth

In addition to wreaking havoc and distress in the minds of the global target audience, the WHO's obnoxious classification of the novel coronavirus disease as a pandemic has created a significant amount of challenges and issues for healthcare services and service providers to deal with and overcome going forward. However, since the epidemic hit, more individuals are staying at home, increasing the consumption of snacks, appetizers, and other foods. One of the main causes of this is the lockdown that was implemented, which compelled the global target audience to stay put and choose alternative means of keeping themselves occupied and engaged in productive activities. Vitamin testing is significant in light of the rise in the consumption of snacks like chips and fried foods because these foods must be consumed for a healthy diet and functioning.

Latest Trends

"Introduction of elements like the high cost of performing vitamin tests leading market expansion"

The market trends for vitamin testing are seeing the introduction of elements like the high cost of performing vitamin tests. The demand for vitamin and nutritional supplement products is being driven by the rising prevalence of vitamin B12 deficiency in various age groups and nations. Individuals with untreated celiac disease, Crohn's disease, and those in older age groups frequently receive vitamin B12 supplements. This water-soluble vitamin aids in the creation of red blood cells, the regulation of metabolism, and myelination of the central nervous system. As women age, anaemia can also be treated with vitamin B12. Vitamin deficiency, which can cause symptoms including nerve damage, weariness, weakness, blurred vision, numbness, sweating, fever, and difficulty walking, can occur in those who are unable to absorb vitamin B12 from natural sources.

Active B12 Test Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into ELISA Assay, Enzyme Immunoassay, Others, Active B12 Test. ELISA Assay is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into folate deficiency anemia, pernicious anemia, macrocytic anemia. Folate deficiency anemia will be the dominating segment.

Driving Factors

"Growing B12 Vitamin Deficiency Disorders are fueling market expansion"

The market's compound annual growth rate for active B12 tests is being driven by an increase in vitamin B12 deficient illnesses. End-users like physicians, hospitals, and diagnostic laboratories have been closely monitoring the Active B12 Test, a kind of blood test, due to the rising number of cases of macrocytic Lancia-related conditions, such as folic acid deficiency or vitamin B12 deficiencies among adults across many regions of the world.

This element is likely to encourage regional expansion over the anticipated time frame. Additionally, the rise in macrocytic Lancia in expectant mothers as a result of insufficient nutritional intake during pregnancy may be able to meet demand in terms of value & volume. The global market for active b12 tests has also been continuously growing as a result of growing consumer awareness of folate deficiency, pernicious anaemia, and the prevalence of macrocytic Lancia in adults. growing demand for meals enriched with folic acid driving the Active B12 Test market's revenue in the process.

"Rising Geriatric Populations, Technological Advancements in Laboratories For Clinical Testing Fuel The Market Growth "

The increasing frequency of vitamin deficiency is the primary element driving the vitamin test industry's great global growth. Additionally, alterations in lifestyle factors like drinking alcohol and smoking tobacco can lead to vitamin deficiencies. The sudden but ongoing transition to a sedentary lifestyle, rising geriatric populations, technological advancements in laboratories for clinical testing, and an increasing level of the prevalence of chronic diseases like cancer or chronic kidney disease are other key factors that are propelling the market for vitamin tests towards growth. During the forecast period ending in 2028, all of these variables are working together to drive market growth for vitamin testing.

Restraining Factors

"Lack of knowledge in developing nations may limit the market growth"

Additionally, the limitations of the tests, such as false positives and false negatives, as well as the general lack of knowledge in developing nations are anticipated to restrain the market growth for vitamin testing during the forecast period, which will conclude in 2028. The creation of new items is being hampered by things like cost inflation, supply chain restrictions, and rising seller competition.

Active B12 Test Market Regional Insights

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"North America region projected to be the dominating region during forecast period"

The North American, European, Asian Pacific, Latin American, and Middle East & Africa regions make up the major segments of the worldwide active b12 test market. Due to an increase in R&D spending by the pharmaceutical and biotechnology industries, North America and Europe took the lead in the global market for active vitamin B12 in 2019. However, the demand for efficient vitamin test kits and the growing number of patients with related diseases in Asia Pacific are projected to fuel market expansion in this area. This, together with an increase in industry player mergers and acquisitions and public awareness of the need for testing, is projected to boost the sale of vitamin tests in nations like China, India, and other nations. By the end of the forecast, Latin America, the Middle East, and Africa are expected to have lower CAGRs than other regions.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Axis-Shield Diagnostics (U.K.)
• Abbott (U.S.)
• Siemens (Germany)
• DiaSorin (Germany)
• Roche (Switzerland)
• LifeSpan BioSciences (U.S.)
• Demeditec Diagnostics (Germany)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.