The Global Vitamin B12 (Cobalamin) Market is projected to reach USD 409.7 Million by 2027. The market is fueled by the rising health consciousness among the consumers, and a significant increase in the vegan population has increased the deficiency of certain vitamins, such as Vitamin B12. The deficiency of vitamin B12 in pure vegan products is driving the demand for the product. A deficiency in the key vitamin can cause severe symptoms, including nerve damage, fatigue, neurological problems, and digestive issues, like depression and memory loss. Therefore, many people turn to vitamin B12 (Cobalamin) supplements to help meet their needs and prevent a deficiency.
Vitamin B12 supplement, methylcobalamin, B12 supplement for vegans, vitamin B12 foods for vegetarians, vitamin B12 naturally, vitamin B12 deficiency, vitamin B12 benefits, methylcobalamin B12, adenosylcobalamin, vitamin B12 foods, vitamin B12 overdose, methylcobalamin dosage for neuropathy, and hydroxocobalamin to name a few are the hugely demanding topics and factors the end-users are concerned about and have been influencing the market growth in many ways, have been additionally discussed in details in the report. Leading and growing players in the market that have been investing an extensive amount in the research & development in such corresponding factors have observed enormous growth in their business.
Rapid urbanization and a rise in disposable income coupled with an increase in awareness regarding health issues are the factors driving the market growth during the forecast period. Rising prevalence of depression, paranoia, and memory loss is also propelling the demand for Vitamin B12 (Cobalamin). Favorable outlook towards medical nutrition will also drive the demand for the cobalamin.
Top Companies Profiled in the Report Include:
Apotheca Inc., Merck KGaA, Charkit Chemical Company LLC, Johnlee Pharmaceuticals Pvt. Ltd., American Regent, Inc., Koninklijke DSM N.V., Chemkart, Bristol-Myers Squibb, Sanofi-Aventis, and Pfizer, among others, among others..
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The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
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Additionally, the report consists a detailed analysis of the segmentation of the Vitamin B12 (Cobalamin) market based on product types and end-use/application offered in the Vitamin B12 (Cobalamin) market.
Form Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
Grade Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
· Food Grade
· Pharmaceutical Grade
Sales Channel Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
· Online Retails
· Offline Retails
End-Use Verticals Outlook (Revenue: USD Million; Volume: Kilo Tons; 2017-2027)
· Food Industry
· Dietary Supplements
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Vitamin B12 (Cobalamin) market in these key regions.
Country-wise regional analysis covers:
· North America
· Asia Pacific
· Latin America
· Middle East & Africa
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