Vitamin D Testing Market is Estimated to Grow at a CAGR of 4.70% from 2022 to 2028
As stated in our extensive report; the Global Vitamin D Testing Market accounted for USD 528.4 Billion in the year 2021.
The maturing of the population, the prevalence of vitamin D deficiency, and the prevalence of other chronic diseases are expected to fuel the expansion of the Vitamin D Testing market.
In addition, market expansion in the future years will be spurred by factors such as rising public consciousness about the importance of bone and joint health, the approval and commercialization of novel tests, and the resulting demand for vitamin D tests during pregnancy. The market is also expected to be driven by the government’s continued spending on R&D activities, expansion into new regions, and the completion of many large-scale infrastructure projects. Prospective restrictions of the Vitamin D Testing Market include unnecessary scanning for Vitamin D, a lack of additives, and a high price.
The Vitamin D Testing market is segmented on the basis of product, test type, and application. Based on product, the market is segmented into kits, reagents, and instruments. Based on test type, the market is segmented as 25 Hydroxy Vitamin D Test, 1, and 25 Dihydroxy Vitamin D Test. Based on application, the market is segmented as clinical testing and research testing. Region-wise, the Global Vitamin D Testing Market has been segmented into Europe, Europe, Europe, Latin America, and Middle East & Africa.
There is expansion room due to the rising need for vitamin D in cosmetics and feed for the fortification of livestock. In addition, the COVID-19 pandemic has increased the frequency with which blood samples are being tested for vitamin D levels. Vitamin D Testing reliably and easily provides reliable findings in a convenient and noninvasive way for the patient. Revenue growth in the Vitamin D Testing Market is being influenced by factors such as rising healthcare spending, easier access to cutting-edge equipment at screening labs and centers, and rising knowledge about the necessity of Vitamin D Testing. Market growth can be attributed to a number of factors, including rising demand for healthcare professionals and testing professionals and the healthcare industry’s commitment to research and innovation. The lack of general public knowledge about Vitamin D Testing is a major roadblock in the development of the Vitamin D Testing market. Market expansion worldwide is being hampered by many underserved regions’ lack of cutting-edge medical facilities and analytical tools. Factors such as the high price of vitamin testing are expected to arise, changing the competitive landscape of the vitamin testing market.
Further, limitations in the tests, such as false detection and a lack of awareness in developing countries, are projected to restrain the expansion of the Vitamin D Testing Market throughout the forecast period. It is expected that innovation in healthcare technology, particularly that which aims to make patients’ experiences more pleasant, will propel the market forward. Better and more accurate test results can be obtained for patients worldwide thanks to technical innovations and their implementation in the global market infrastructure. Those who are coping with serious to chronic illnesses and need to demonstrate vitamin insufficiency have significantly increased the number of vitamin D tests performed.
During the forecast period, the Vitamin D Testing market in Europe is anticipated to develop at the quickest rate. The regulatory body in this region has approved a significant number of point-of-care testing kits, and this, together with the rising incidence of vitamin D deficiency, is driving up demand and acceptance of the goods in this region. For example, it was said in a 2019 publication by the National Library of Medicine that between 30.0 and 60.0% of persons in western, southern, and eastern Europe had vitamin D insufficiency.
In terms of value, North America occupied the second spot worldwide. Chronic kidney illness’s prevalence is rising, driving demand for 1,25-dihydroxy vitamin D diagnosis. For instance, the U.S. Department of Health & Human Services estimates that in 2021, about 15.0% of American adults will have CKD. In turn, this is boosting the market growth in this area by increasing the adoption rate of vitamin D diagnostics products.
Rise in chronic diseases like diabetes type 2, kidney disease, Crohn’s disease, and celiac disease, will have a favorable impact on the overall Vitamin D Testing market.
Some of the key players in the Global Vitamin D Testing Market include- 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) and others.