May 14, 2020
According to the research report titled ‘Global Vitamin D Testing Market Size study, by Vitamin Type (Vitamin D2, Vitamin D3), by Application (Functional Food & Beverage, Pharmaceuticals, Animal Feed & Pet Food and Personal care), by End-User (Pediatrics, Adults, Geriatric and Pregnant Women) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global vitamin D testing market garnered USD 0.64 billion in 2019 and is anticipated to witness a y-o-y growth rate of 9.4% during 2019-2026.
For the record, vitamin D plays a significant role in maintaining the phosphate and calcium levels in the body. It further helps in controlling the cell cycle and fetus development as well as prevents neuromuscular disorders and other bone related conditions. Vitamin D deficiency can result in various ailments such as asthma, autoimmune diseases, cancer, cognitive disorders, cardiovascular diseases, osteoporosis and rickets.
Increased pervasiveness of vitamin D deficiency is a major factor fueling the global vitamin D testing market growth. Various healthcare experts use this method to study, evaluate and initiate a cure for vitamin D deficit patients. According to a 2019 survey by Government of India, around 70-90% of Indian population suffer from vitamin D deficiency. Similarly, European Society of Endocrinology stated that deficiency of vitamin D is quite common in Middle East & Europe. The organization further stated that more than 20% population in Northern Europe suffers from vitamin D deficiency, whereas Western, Southern and Eastern Europe account for 30-60% population.
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Surging focus towards creating awareness pertaining to vitamin D deficiency by public and private entities and rising development of cost-efficient testing devices are creating lucrative growth opportunities for the overall market. However, strict regulatory scenario pertaining to sales of products for vitamin D deficiency and lack of reimbursement policies may hinder the market growth.
As per the regional analysis, Europe vitamin D testing market is expected to register significant growth during the analysis timeframe, primarily due to rising prevalence of vitamin D deficiency.
On the other hand, Asia-Pacific market is set to record a momentous growth rate during the forecast period. Increasing investments and awareness towards vitamin D testing methods is favoring the market scenario in APAC.
Qualigen, Tosoh Bioscience, The Vitamin D Co., Biokit S.A., Hologic Inc., DiaSorin S.p.A., F. Hoffmann-La Roche, Siemens Healthineers, Abbott Laboratories Inc. and BioMérieux Inc. are the prominent companies operating in worldwide vitamin D testing industry.