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Vitamin D Testing Market | Rise in Prevalence of Vitamin D Deficiency to Drive Industry Growth - TMR Study

Tuesday, 25 October 2022 06:33 AM

WILMINGTON, DE / ACCESSWIRE / October 25, 2022 / Transparency Market Research Inc. - In 2021, the global vitamin D testing market was worth US$ 605.3 Mn. It is estimated that global market will progress at 5.8% CAGR during the forecast period, from 2022 to 2031. By 2031, the global vitamin D testing market is expected to surpass valuation of US$ 1.06 Bn. Due to an increase in the incidence of vitamin D deficiency condition throughout the globe, the global vitamin D testing market is predicted to expand steadily in the forthcoming years. Due to the simplicity with which this molecule can be identified in the sample, the 25-hydroxy D vitamin test is the mostly used for testing levels of vitamin D in the plasma.

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The global market for vitamin D testing was led by North America, but there are big opportunities coming up in Asia Pacific region as well. An increase in the volume of patients with vitamin D insufficiency is creating a market for vitamin D testing and, as a result, propelling the global market. Aside from that, noteworthy approaches adopted by Key players of vitamin D testing market to boost their market position include strategic alliances and major product releases. Such strategic moves are expected to increase future market demand for vitamin D testing in the coming years.

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Key Findings of Market Report

  • The advent of intravenous administration and at-home test kits for fast outcomes, together with an increase in healthcare spending in several developing nations, are anticipated to fuel the growth of the global vitamin D testing market. These are expected to be important segments of vitamin D testing market
  • The UN Department of Economics and Social Affairs has published figures showing that by 2050, the number of elderly people is projected to jump to 2.1 billion. The elderly people are more vulnerable to vitamin D deficiency conditions. As a result, the market for vitamin D testing is projected to grow as the elderly population grows and vitamin D deficit amongst group increases.
  • In 2021, the 25-hydroxy vitamin D category had a considerable vitamin D testing market share. The category is predicted to grow at a rapidly during the forecast timeframe. The segment's growth can be ascribed to rising number of tests conducted worldwide, the simplicity of identifying and measuring levels of 25-hydroxyvitamin D in plasma serum due to its extended half-life even if it is present in lesser proportions.

Global Vitamin D TestingMarket: Growth Drivers

  • After North America, Europe is projected to rank as the largest region in both in terms of revenue and market share in the coming years. In Germany, vitamin D deficiency affects the whole population. Both children and adults are more likely to have it than younger people.

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Global Vitamin D Testing Market: Key Competitors

  • O-Two Medical Technologies Inc.
  • Fisher & Paykel Healthcare Limited,
  • Dragerwerk AG & Co. KGaA
  • Koninklijke Philips N.V.
  • Medtronic plc.
  • Teleflex Incorporated

Global Vitamin D Testing Market: Segmentation

Test Type

  • 25-Hydroxy D Vitamin
  • 1,25-Dihydroxy D Vitamin

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Technique

  • Radioimmunoassay
  • ELISA
  • HPLC
  • LC-MS
  • Others

Patient Type

  • Adult
  • Pediatric

Indication

  • Osteoporosis
  • Rickets
  • Thyroid Disorders
  • Malabsorption
  • Vitamin D Deficiency
  • Others

End User

  • Hospitals
  • Diagnostic Laboratories
  • Home Care
  • Point-of-care
  • Others

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