Report Scope & Overview:
The Vitamin D Testing Market Size was valued at USD 6.70 billion in 2022 and expected to reach USD 9.98 billion by 2030, and grow at a CAGR of 5.1% over the forecast period 2023-2030.
Vitamin D is a fat-soluble vitamin that occurs naturally and is structurally related to steroids. It aids in the absorption of nutrients, phosphate, zinc, magnesium, and other minerals. Vitamin D maintains bone and tooth mineralization by regulating calcium phosphate equilibrium in the circulation. It maintains the cell cycle, minimises the likelihood of bone deformation, and helps relieve joint surfaces in terms of boosting immune function. Vitamin D testing is used to diagnose and track bone problems. It has been used to test vitamin D levels in people with chronic conditions such asthma, psoriasis, and some autoimmune diseases.
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A vitamin D test is performed using a blood sample. A tiny needle is used by the doctor to collect a blood sample during a blood test. A blood sample is maintained in a test tube. This examination is normally completed in less than five minutes. Vitamin D is an essential ingredient for bone development and production. A lack of it causes osteoporosis, bone disease, osteomalacia, and other chronic disorders. Some laboratory tests and healthcare facilities utilise vitamin D assays to determine the level of vitamin D compounds in the blood. Vitamin D is divided into two types: vitamin D2 and vitamin D3. Plants and yeast create vitamin D2, whereas animals produce vitamin D3.
The number of clinical trials is increasing.
Vitamin D insufficiency is extremely common.
Unfavorable reimbursement scenario discouraging testing compliance
A substantial number of patients worldwide are afflicted with disorders related to metabolism, bone health, and chronic renal disease.
Collaboration with government agencies for deficiency diagnosis
The supply of reagents, kits, and equipment required for vitamin D testing at a reasonable price in developing nations might be a beneficial strategy for players looking to expand geographically.
IMPACT OF COVID-19:
Vitamin D does not protect against COVID-19 infection, although it helps increase immunity. The increased prevalence of COVID-19 is expected to have an impact on market growth over the forecast period. Pharmaceutical companies are presently investigating the relationship between vitamin D levels in blood and the severity of COVID-19 results. Furthermore, growing knowledge of the importance of immunity in fighting illnesses has increased the frequency of testing. Work-from-home restrictions in several nations are likely to increase the number of people who are unable to get enough sunlight.
According to a recent Ipsos survey conducted in partnership with the World Economic Forum and published in July 2021, 23 percent of employed persons work from home. More than one-third of employees polled in Peru, Singapore, India, and Argentina preferred working from home versus travelling to workplaces. As a result of the COVID-19 pandemic, more employees are likely to work from home, resulting in decreased sunlight exposure and thereby increasing the risk of vitamin D insufficiency.
The market is divided into three categories: vitamin D2, vitamin D3, and others. During the forecast period, Vitamin D2 will drive the most growth in the Global Vitamin D Testing Market. Physicians and hospital personnel use 25-hydroxy vitamin D assays to check calciferol or 25OH vitamin D levels in the human body. A low or high percentage of 25-hydroxy vitamin D can cause a variety of chronic diseases, including osteoporosis.
The market is divided into four applications: pharmaceuticals, personal care, animal feed and pet food, and functional food and beverages. Over the anticipated period, Animal Feed and Pet Food would have the largest market growth. Eggs, fortified milk, and fish fortified milk all contain vitamin D. When exposed to direct sunshine, it is also created in the skin. Vitamin D is stored in fat during periods of sunlight and released when sunlight is not available.
The limitations of the tests, such as false detection, as well as the lack of knowledge prevalent in developing countries, are projected to impede the growth of the Vitamin D Testing Market over the forecast period. The market is expected to be driven by the development of new advanced technologies with a focus on improved patient comfort. Technological ideas and employment in global market premises are resulting in product performance, which leads to better and more precise testing results for patients located in numerous locations across the world. The frequency of vitamin D tests performed on persons suffering from serious to chronic illnesses and attempting to demonstrate vitamin deficiency has increased considerably.
VALUE CHAIN ANALYSIS:
The vitamin D testing market is continuously expanding due to an increase in the number of research studies and increased awareness of vitamin D deficiency. The value chain analysis of the vitamin D testing market consists of four primary components: R&D and design, product production, distribution and sales, and post-sales services.
R&D and design begin with conceptualization, then move on to design, development, and testing. After the product designs are finalised, the production process begins.
The sourcing of raw materials is the first step in the manufacturing of the products. Outsourcing eliminates some manufacturing process operations and aids in process efficiency. Then comes distribution and sales, which are critical in any industry. In this case, product awareness is spread throughout the market in order to attract interested clients. Customer input is used to improve their existing product portfolio in post-sales services.
KEY MARKET SEGMENTS:
by Vitamin Type
Animal Feed and Pet Food
Functional Food & Beverages
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Because of its well-established healthcare system, high acceptance rate of medical screening, and high level of testing awareness, the North American market accounted for the highest share in 2021. Furthermore, the presence of significant market players in this region, as well as their contributions through mergers, acquisitions, and product launches, fuels market expansion.
The European vitamin D testing market is being driven by rising R&D expenditure by government institutes and an increasing number of vitamin D testing clinical studies. The presence of important industry competitors also contributes significantly to market growth. Furthermore, the region's growing senior population suffering from orthopaedic disorders promotes the growth of the vitamin D testing market.
The North American market accounted for the largest share in 2021 due to its well-established healthcare system, high acceptance rate of medical screening, and high level of testing awareness. Furthermore, the presence of major market players in this region, as well as their contributions through mergers, acquisitions, and product launches, drives market growth.
Rising R&D spending by government institutes and an increasing number of vitamin D testing clinical studies are driving the European vitamin D testing market. The presence of large industry competitors also greatly contributes to market expansion. Furthermore, the region's rising senior population, which is prone to orthopaedic disorders, encourages the expansion of the vitamin D testing market.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Major players are DiaSys Diagnostic Systems GmbH, Siemens Healthineers, Abbott Laboratories, Thermo Fisher Scientific Inc., BioMerieux SA, Danaher Corporation, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, DiaSorin S.p.A., Quest Diagnostics Incorporated. and other players.
Abbott Laboratories-Company Financial Analysis
|Market Size in 2022||US$ 6.70 Billion|
|Market Size by 2030||US$ 9.98 Billion|
|CAGR||CAGR of 5.1% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by End-User (Adults, Pregnant Women, Pediatrics)
• by Vitamin Type (Vitamin D2, Vitamin D3)
• by Application (Pharmaceuticals, Personal Care, Animal Feed and Pet Food)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||DiaSys Diagnostic Systems GmbH, Siemens Healthineers, Abbott Laboratories, Thermo Fisher Scientific Inc., BioMerieux SA, Danaher Corporation, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, DiaSorin S.p.A., Quest Diagnostics Incorporated.|
|Key Drivers||• The number of clinical trials is increasing.
• Vitamin D insufficiency is extremely common.
|RESTRAINTS||• Unfavorable reimbursement scenario discouraging testing compliance|
Ans: Vitamin D Testing Market Expected to Reach USD 9.98 Billion by 2030.
Ans: The vitamin D Testing Market grow at a CAGR of 5.1% over the forecast period 2023-2030.
Ans: The forecast period of the Vitamin D Testing Market is 2022-2030.
The number of clinical trials is increasing.
Vitamin D insufficiency is extremely common.
Ans: The major players are DiaSys Diagnostic Systems GmbH, Siemens Healthineers, Abbott Laboratories, Thermo Fisher Scientific Inc., BioMerieux SA, Danaher Corporation, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories, DiaSorin S.p.A., Quest Diagnostics Incorporated., and others in the final report.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Vitamin D Testing Market, by Vitamin Type
8.1 Vitamin D2
8.2 Vitamin D3
9. Vitamin D Testing Market, by Application
9.2 Personal Care
9.3 Animal Feed and Pet Food
9.4 Functional Food & Beverages
10. Vitamin D Testing Market, by End-User
10.2 Pregnant Women
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 DiaSys Diagnostic Systems GmbH
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Siemens Healthineers
12.3 Abbott Laboratories
12.4 Thermo Fisher Scientific Inc.
12.5 BioMerieux SA
12.6 Danaher Corporation
12.7 F. Hoffmann-La Roche Ltd
12.8 Bio-Rad Laboratories
12.9 DiaSorin S.p.A.
12.10 Quest Diagnostics Incorporated
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
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