Transparency Market Research has published a new report on the vitamin d testing market for the forecast period of 2019–2027.
Transparency Market Research (TMR) has published a new report on the vitamin d testing market for the forecast period of 2019–2027. According to the report, the global vitamin D testing market was valued at ~US$ 519 Mn in 2018, and is projected to expand at a CAGR of ~6% from 2019 to 2027. Rise in the demand for vitamin D testing among people, significant repeat tests being performed, and increase in the need of performing vitamin D testing among elderly and pregnant women are contributing to the growth of the market.
Rise in Number of Vitamin D Tests Performed Boosts Market Growth
- Rise in the prevalence of vitamin D deficiency, increase in the number of vitamin D tests performed, and changing lifestyles boost the growth of the global vitamin D testing market. The global vitamin D testing market is expected to expand at a CAGR of ~6% from 2019 to 2027.
- The market in Japan is likely to be driven by significant product launches by leading players, rise in the prevalence of osteoporosis, which is expected to affect over 13 million people annually, availability of reimbursements for these tests, and authority given to doctors to prescribe these tests.
- The need for vitamin D testing during pregnancy is increasing, owing to a rise in the prevalence of vitamin D deficiency in women. Deficiency of vitamin D during pregnancy can be attributed to the high requirement of vitamin D for fetal development. It is considered to be significantly common during pregnancy in high-risk groups, including vegetarians, women with limited sun exposure, and ethnic minorities, especially those with darker skin tones.
- The number of vitamin D tests performed annually has increased significantly in the past few years. Studies conducted in France indicate a dramatic increase in the number of vitamin D assay prescriptions. The number of tests performed in the country increased from 9,700 in 2008 to over 91,000 in 2013.
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Asia Pacific Market to Grow at Rapid Pace
- North America held a major share of the global vitamin D testing market in terms of revenue in 2018. The region is projected to dominate the global market during the forecast period. Rise in the prevalence of vitamin D deficiency, increase in prescriptions of vitamin D tests, surge in the aging population, and rise in the prevalence of vitamin D deficiency among the adult population boost the growth of the market in North America.
- Europe is anticipated to be the second-largest market in terms of share and revenue during the forecast period. Vitamin D deficiency is a public health issue in Germany. It is significantly prevalent in the adult as well as younger population. Moreover, various studies conducted in Germany indicate that, the average intake of vitamin D does not meet the recommended daily intake levels. These factors increase the number of vitamin D tests performed in the country, consequently fueling the growth of the market.
- The vitamin D testing market in Asia Pacific is expected to expand at a high CAGR of ~7% during the forecast period. Growth of the market in the region is attributed to increase in the geriatric population, rise in the prevalence of vitamin D deficiency, changing reimbursement scenario for these tests, and increase in focus of market players on strengthening their presence in developing economies.
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Significant Products Launched by Market Players to Drive Market
The report provides the profiles of leading players operating in the global vitamin D testing market. These include Bio-Rad Laboratories, Inc., Abbott Laboratories, F. Hoffmann-La Roche AG, Thermo Fisher Scientific, DiaSys Diagnostic Systems GmbH, DiaSorin, bioMérieux, Siemens AG, Quest Diagnostics, and Danaher Corporation.
- DiaSorin S.p.A., one of the leading players in the vitamin D testing market, is engaged in the development, manufacture, and marketing of reagent kits for in-vitro diagnostic assays. The company offers a range of tests in the field of immunodiagnostics, and is a leading player in the vitamin D testing market in the U.S., with over 60% of the market share.
- DiaSorin focuses on expanding its CLIA tests portfolio through strategic commercial launches, globally. In 2016, the company launched the CLIA 25 OH Vitamin D test in Japan, following the announcement of reimbursements by authorities in the country. This launch made the company the first mover in launching vitamin D tests on its LIAISON analyzers. As part of this strategy, the company entered into an exclusive distribution agreement with Kyowa Medex for the distribution of its products in Japan.
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- DiaSys Diagnostic Systems GmbH is a leading provider of liquid stable reagents and diagnostic solutions for clinical laboratories. It is an independent company and offers over 90 liquid-stable reagents for special and routine diagnostics, with calibrators and controls. Additionally, the company offers instruments such as partially- and fully-automated analyzers for small- and medium-sized laboratories. It also offers rapid tests and devices for point-of-care. In 2015, DiaSys Diagnostic Systems entered into an exclusive international partnership agreement with NanoSpeed Diagnostics for marketing its 25-OH Vitamin D deficiency test kit. According to the terms of the agreement, DiaSys markets the point-of-care test under its own brand, QDx, globally.
- Significant product launches and strategic partnerships are the key strategies employed by leading players to enhance their market presence. This is anticipated to fuel the growth of the global vitamin D testing market.
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