In terms of revenue, the Global Vitamin D Testing Market is expected to reach USD 696.0 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.50% from 2022 to 2028.
In industrialized and developing nations, vitamin D insufficiency is becoming more common due to increased sedentary lifestyles and decreased sun exposure. In India, for example, the prevalence of vitamin D deficiency was close to 67.0% in 2021, according to a BioMed Central Ltd. report. This leads to an increase in demand for and adoption of the products used in Vitamin D Testing during the forecast period, along with the clinically documented link between a number of serious and chronic diseases and vitamin D deficiency.
Additionally, growing campaigns to raise awareness of vitamin deficiencies, such as vitamin D, in both developed and developing countries, as well as the appearance of new studies highlighting vitamin D's significance to a person's overall health, are driving the growth of the Vitamin D Testing market. This aspect is also helping the market's expansion internationally, along with rising investments made by leading players in R&D for new testing technologies.
Key Developments in the Industry:
· LifeLabs unveiled a novel technique for 25-OH vitamin D in February 2022. The 25-OH Vitamin D collection tube enhances specimen collection and testing automation when used in conjunction with other high-volume chemical assays. A separate collection tube for 25-OH vitamin D won't be required.
· The Department of Health and Social Care (DHSC) introduced a new program in April 2022 to promote vitamin D consumption, which includes increasing the use of fortified foods and beverages. This program will increase the market's demand for Vitamin D Testing.
· In May 2020, Abbott announced that ID NOW, a point-of-care rapid test that delivers findings in minutes as opposed to needing days or weeks to do so, is now available in the United States.
· To increase the visibility of its brand, Thermo Fisher Scientific Inc. announced in March 2020 that the Cascadion SM Clinical Analyzer for the Cascadion SM 25-hydroxy vitamin D assay was now available in the United States.
One of the main reasons for the expanding demand for this technique is the rising prevalence of vitamin D insufficiency and its accompanying illnesses, such as osteoporosis and Inflammatory Bowel Disease (IBD). For instance, according to a WebMD LLC article from April 2020, there are 396 cases of IBD worldwide for every 100,000 people each year.
Additionally, a large patient population suffering from vitamin D deficiency is seeking medical care to correct their condition, adding to the growing financial burden. The government and other for-profit and nonprofit groups eventually expanded their efforts for a variety of awareness campaigns about the significance of vitamin D as a result of this. For instance, a nutrition company called RoyalDSM initiated a digital-led campaign in India in 2021 with the aim of boosting awareness about the significance of improving vitamin D levels through healthy eating, according to a story by The Indian Express Ltd.This is what is driving the market expansion during the study period and the rising usage of routine Vitamin D Testing.
Additionally, it is projected that the market expansion would be boosted by the emphasis on the quantitative determination of 24,25-dihydroxyvitamin D for significant evaluation of vitamin D. A significant type of vitamin D that is closely related to 1,25-dihydroxy vitamin D is 24,25-dihydroxy vitamin D. The proportion of 25-hydroxy vitamin D to 24,25-dihydroxy vitamin D also has clinical implications for figuring out the amount of vitamin D in an individual's body. Numerous study articles and KOL interviews have also claimed that 24,25-dihydroxy vitamin D is useful in healing fractures.
As a consequence, current and recent R&D advancements are concentrating on figuring out the amount of 24,25-dihydroxy vitamin D. In addition, a recent trend toward using point-of-care testing kits rather than lab-based assays has been noted. In a 2022 article, Ipsos said that the preference for point-of-care tests over lab-based tests was due to a number of distinguishing advantages, including quicker turnaround times, ease of use, and fewer needs for expert assistance.
During the forecast period, the Vitamin D Testing market in Europeis anticipated to develop at the quickest rate.The Europemarket for Vitamin D Testing is being driven by an increase in clinical investigations relating to the term as well as increased government institute R&D spending. The presence of prominent market players like Siemens Corporation, bioMérieux SA, and DiaSorin S.p.A. also makes a vital contribution to market growth. Furthermore, the market for Vitamin D Testingis also growing in the region as a result of the growing number of elderly people who have orthopedic problems.
The Global Vitamin D Testing Market is Segmented as follows:
- Test Type
- 25 Hydroxy Vitamin D Test
- 1, 25 Dihydroxy Vitamin D Test
- Clinical Testing
- Research Testing
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Vitamin D Testing Market is:
bioMérieux SA (France), Abbott Laboratories (US), Beckman Coulter (US), Thermo Fisher Scientific (US), Mindray (China), Hoffmann-La Roche Ltd (Switzerland), Siemens Corporation (Germany), Quest Diagnostics Inc. (US), DiaSorin S.p.A. (Italy) Maccura (China)
The Global Vitamin D Testing Market Scope can be Tabulated as below:
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|