Global Active B12 test Market Size, Share, Forecast Report, 2020-2027

Vitamin B12, also called cobalamin, is a water-soluble vitamin that plays a key role in the functioning of the brain and nervous system and the formation of red blood cells. It affects DNA synthesis, amino acid metabolism and fatty acid. B12 is the largest and structurally complicated vitamin and can be produced industrially through bacterial fermentation synthesis. Vitamin B12 deficiency can cause severe damage to the brain and nervous system. Symptoms of vitamin B12 include fatigue, lethargy, depression, poor memory, breathlessness, headaches, and pale skin.

Increasing prevalence of vitamin B12 deficiency disease such as pernicious anemia across the globe is the major contributor to the growth of this market. High cost of diagnostic devices for deficiency disease is a restrain for the growth of this market.

The global active B12 test market is expected to grow at a CAGR of 7.2% during the forecast period and is estimated to reach USD 220 million by 2023.
Segments:
The global active B12 test market is segmented on the basis of diagnosis which includes ELISA assay, enzyme immunoassay, and others. On the basis of indication, the market is segmented into folate deficiency anemia, pernicious anemia, macrocytic anemia, and others. On the basis of end users, the market is segmented into hospitals, medical laboratories, clinical research organization, and other users.

Key Players in the Global Active B12 test Market:
Some of the key players in this market are Axis-Shield Diagnostics Ltd. (U.S), Abbott (U.S), Siemens Healthcare Private Limited (U.S), DiaSorin S.p.A. (Italy), F. Hoffmann-La Roche Ltd (Switzerland), LifeSpan BioSciences, Inc. (U.S), Demeditec Diagnostics GmbH (Germany)