About Cyanocobalamin
Cyanocobalamin is a man-made form of vitamin B12 used to prevent and treat low blood levels of vitamin B12. It is important for cell reproduction, growth, blood formation and protein and tissue synthesis. Cyanocobalamin is used to treat vitamin B12 deficiency in people with pernicious anemia and other conditions. The deficiency of Vitamin B12 may result in a low number of red blood cells (anemia), stomach/intestine problems, and permanent nerve damage.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Cyanocobalamin market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Luitpold Pharmaceuticals, Inc. (United States), Endo International plc (Ireland), Bristol Myers Squibb (United States), Sanofi S.A. (France), Teva Pharmaceutical Industries Ltd. (Israel), Merck & Co., Inc. (United States), Mylan N.V. (United States), Bayer AG (Germany), Pfizer (United States) and Angelini (Italy) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Biological E. (India) and Shandong Huaxin Pharmaceutical Group Co. Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Cyanocobalamin market by Type (Cyanocobalamin Injection, Cyanocobalamin Oral and Cyanocobalamin Spray) and Region.
On the basis of geography, the market of Cyanocobalamin has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-users, the sub-segment i.e. Food industry will boost the Cyanocobalamin market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Store-Based Retailing (Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores and Others) will boost the Cyanocobalamin market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grade, the sub-segment i.e. Food will boost the Cyanocobalamin market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand for Cyanocobalamin from Food Industry in Food Supplements
Market Growth Drivers:
Increasing Number of People with Vitamin B12 Deficiency and Increased Number of Hospitals and Diagnostic Centres
Challenges:
Stringent Government Rules and Regulations
Restraints:
Side Effects of the Cyanocobalamin
Opportunities:
Growth in the Healthcare Industry and Increasing Number of Online Customers
Market Leaders and their expansionary development strategies
In October 2023, Lonza Group AG and Evolva announced a partnership to develop and manufacture a new, sustainable cyanocobalamin production process. The two companies will combine their expertise in fermentation technology and biocatalysis to develop a process that is more environmentally friendly and cost-effective.
Key Target Audience
Cyanocobalamin Manufacturers, Distributors, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.