Industry Background:
Vitamin B12 complex is a nutrient that the body requires in small amounts to function and stay healthy. Vitamin B12 aids in the formation of red blood cells, DNA, RNA, energy, and tissues, as well as the health of nerve cells. It can be found in foods such as liver, meat, eggs, poultry, shellfish, milk, and milk products. Vitamin B12 is water-soluble (it dissolves in water) and must be consumed on a daily basis. Anemia (a condition in which the number of red blood cells is lower than normal) and neurologic disorders can be caused by a lack of vitamin B12. It is being studied in conjunction with folate in the prevention and treatment of certain types of cancer. Cobalamin and cyanocobalamin are other names for the same vitamin.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Apotheca Inc. (United States), Merck KGaA. (Germany), Charkit Chemical Company LLC. (United States), Johnlee Pharmaceuticals Pvt. Ltd. (India), American Regent, Inc. (United States), Koninklijke DSM N.V. (Netherlands), Chemkart India Pvt. Ltd. (India), Bristol-Myers Squibb (United States), Sanofi-Aventis (France) and Pfizer (United States) |
This growth is primarily driven by Increasing Incidence of Vitamin Deficiency.
Globally, a noticeable market trend is evident Growing Demand for Geriatric Population Major Players, such as Apotheca Inc. (United States), Merck KGaA. (Germany), Charkit Chemical Company LLC. (United States), Johnlee Pharmaceuticals Pvt. Ltd. (India), American Regent, Inc. (United States), Koninklijke DSM N.V. (Netherlands), Chemkart India Pvt. Ltd. (India), Bristol-Myers Squibb (United States), Sanofi-Aventis (France) and Pfizer (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The Vitamin B12 market's competitive landscape is consolidated, with a few major companies operating on a global and regional scale. Product development and strategic alliances are being pursued by key players in order to expand their respective product portfolios and gain a strong foothold in the global market. Apotheca Inc., Merck Group, Charkit Chemical Company LLC, Johnlee Pharmaceuticals Pvt. Ltd., American Regent, Inc., Koninklijke DSM N.V., Bristol-Myers Squibb Company, Sanofi-Aventis, Pfizer Inc., and Chemkart India Pvt. Ltd. are among the market's major players.
Key Developments in the Market:
On 18th August 2021, Telix Pharmaceuticals, a radiopharmaceutical company based in Australia, has announced a collaboration with Merck KGaA, Darmstadt, Germany, to conduct clinical combination studies for cancer treatment. The studies will combine one of Merck's proprietary investigational DNA damage response inhibitor (DDRi) molecules with each of Telix's molecularly targeted radiation (MTR) therapeutic programs—TLX591 (177Lu-rosopatamab) and TLX250 (177Lu-girentuximab).
On 13th April 2021, Life Extension has launched B12 Elite, which delivers two absorbable forms of vitamin B12, in Fort Lauderdale, FL, to support overall brain health at the cellular level. This formula is especially beneficial for vegetarians, as this vitamin is primarily obtained from animal sources in your diet, as well as the elderly, whose vitamin B levels naturally decline with age. Vitamin B12 deficiency in old age can have an impact on cognitive and overall health.
Regulatory Insights:
The process of adding micronutrients (such as vitamins and minerals) to food as permitted by the Australian and New Zealand Food Standards Code is known as food fortification (ANZFSC). Regulations governing vitamin B12 fortification of foods vary by country. The ANZFSC only allows a small number of foods to be fortified with vitamin B12. This includes a variety of soy milks, yeast spreads, and vegetarian meat substitutes.
Vitamin B12 Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increasing Incidence of Vitamin Deficiency
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Influencing Trends | - Growing Demand for Geriatric Population
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Restraints | - Supply chain crisis in the global market
- Stringent Regulatory Factors
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Gaps & Opportunities | - Growing Research and Development Activities
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Vitamin B12 Market
- Analysis about New Entrants in Vitamin B12 Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Vitamin B12 Study Sheds Light on
The Vitamin B12 Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Vitamin B12 industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Vitamin B12 industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.