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Vitamin D Testing Market Share and Growth Factors Impact Analysis by 2025

02-22-2018 04:36 PM CET | Health & Medicine

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Vitamin D Testing Market Share and Growth Factors Impact

Vitamins are organic compounds which are important for the survival of an individual. The term is derived from vital amines, since vitamins are essential for life and were thought to be derived from amines. Vitamins can be fat soluble or water soluble. Vitamin D is fat soluble that helps in the absorption of calcium. Deficiency of vitamin D can lead to several disorders and diseases such as rickets and osteoporosis. Therefore, the testing of vitamin level is important. The various sources of vitamin D include egg yolk, fish, and fortified milk. The skin can synthesize vitamin D upon exposure to sunlight, making it a natural source.

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The global vitamin D testing market is estimated to expand at a significant growth rate during the forecast period. Vitamin D deficiency can cause several diseases and disorders such as rickets and skin pigmentation. Deficiency of the vitamin in pregnant women can cause serious effects to both the mother and the new born. Thus, rise in awareness about the ill effects of vitamin D deficiency is one of the important factors propelling the growth of the global vitamin D testing market. Furthermore, rise in elderly population associated with increase in chronic illnesses, diabetes, and other rare diseases; robust R&D; increase in health care expenditure; and government initiatives are the factors driving the growth of the global market. However, high cost of the test and lack of awareness in some developing countries can restrain the market growth during the forecast period.

The global vitamin D testing market is segmented into test type, service provider, and region. Based on the test type, the global market is divided into 1, 25-dihydroxyvitamin D and 25-hydroxyvitamin D. The 25-hydroxyvitamin D segment is anticipated to hold a significant share of the global market during the forecast period is it is the preferred test which detects the malfunction of bones. In terms of service provider, the global market is segmented into private laboratories, hospital-based laboratories, and others. The hospital-based laboratories segment is expected to account for a significant share of the global market during the forecast period due to user convenience and rise in the number of hospitals.

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Geographically, the vitamin D testing market is divided into North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the global market with the largest market share. Rise in awareness and high prevalence of diabetes patients associated with vitamin D deficiency are key factors driving the North America market growth. Furthermore, technological advancement and increased penetration rate of testing are factors propelling the growth of the market in the region. Europe is expected to hold a second largest share of the global market followed by North America. Factors attributed to the growth of the market in the region are high prevalence of vitamin D deficiency, awareness among the people about the associated diseases due to vitamin D deficiency, and strong R&D in the region. The Asia Pacific market is anticipated to register a fast growth rate during the forecast period. Asia Pacific is projected to be the most attractive market during the forecast period due to increase in geriatric population, rise in adoption of health care solutions for better standard of life, increase in prevalence of diabetes, and rise in awareness about health care in developing countries such as India and China.

Many players engaged in vitamin D testing are adopting strategies such as product development, commercialization, and geographical expansion. Prominent players operating in the global vitamin D testing market are Quest Diagnostics Incorporated, F. Hoffmann La-Roche Ltd., Abbott Laboratories, and Siemens Healthcare GmbH.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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