WILMINGTON, DE / ACCESSWIRE / Oct 25, 2022 / Transparency Market Research Inc. – In 2021, the global vitamin D testing market was worth US$605.3 Mn. The global market is estimated to progress at a CAGR of 5.8% during the forecast period from 2022 to 2031. By 2031, the global market for vitamin D tests is expected to exceed USD 1.06 billion valuation . Due to an increase in the incidence of vitamin D deficiency condition worldwide, the global market for vitamin D tests is anticipated to expand steadily in the coming years. Due to the ease with which this molecule can be identified in the sample, the 25-hydroxy vitamin D test is the most widely used to measure vitamin D levels in plasma.
North America led the global market for vitamin D testing, but great opportunities are also emerging in the Asia Pacific region. An increase in the volume of vitamin D insufficiency patients is creating a market for vitamin D testing and driving the global market as a result. Apart from that, the notable approaches taken by the key players of vitamin d testing market to boost their market position include strategic alliances and major product launches. These strategic moves are expected to increase future market demand for vitamin D testing in the coming years.
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Key Findings of the Market Report
- The advent of intravenous administration and home test kits for rapid results, coupled with an increase in healthcare spending in several developing countries, is anticipated to drive the growth of the global vitamin D testing market. These are expected to be important segments of the vitamin D testing market.
- The UN Department of Economic and Social Affairs has released figures showing that, by 2050, the number of older people is projected to rise to 2.1 billion. The elderly are more vulnerable to vitamin D deficiency conditions. As a result, the market for vitamin D testing is anticipated to grow as the elderly population grows and vitamin D deficiency increases among groups.
- In 2021, the 25-hydroxy vitamin D category held a sizable share of the vitamin D testing market. The category is anticipated to grow rapidly over the forecast time period. The growth of the segment can be attributed to the increasing number of tests performed worldwide, the simplicity of identifying and measuring 25-hydroxyvitamin D levels in plasma serum due to its long half-life, even if it is present in minor proportions.
Global Vitamin D Testing Market: Growth Drivers
- After North America, Europe is projected to rank as the largest region both in terms of revenue and market share in the coming years. In Germany, vitamin D deficiency affects the entire 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 NV
- Medtronic plc.
- built-in teleflex
Global Vitamin D Testing Market: Segmentation
Type of test
- 25-Hydroxy vitamin D
- Vitamin 1,25-dihydroxy D
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- Thyroid disorders
- Vitamin D deficiency
- Diagnostic Laboratories
- home care
- point of attention
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