The global vitamin b12 market size was valued at USD 347.9 million in 2021 and is poised to grow at a CAGR of 6.9% during the forecast period 2022 and 2028. The demand for vitamin B12 increases at a high growth rate in the food and beverage, nutraceutical, and dietary supplement industry. In addition, the demand for vitamin B12 is also growing in the pharmaceutical industry. High processing costs and high prices of the vitamin B12 are restricting the market.

View Detailed Report Description at https://precisionbusinessinsights.com/market-reports/global-vitamin-b12-market/

Tablet Segment Dominates the Vitamin B12 Market

With a market share of 76.3 percent in 2021 and a projected CAGR of 6.5 percent from 2022 to 2028, the tablet category is likely to account for a higher revenue share in the global vitamin B12 market. Tablets are cost-effective and readily available. Because of its cost-effectiveness and ease of packaging, tablets are the most often used type of Cobalamin supplement. Consumers choose tablets because of their simple material packaging and long shelf life.

The global vitamin b12 market segmentation:

1) By Dosage form: Powder, Injection, Tablets, Nasal sprays, and Syrups.

2) By Route of Administration: Intravenous, Subcutaneous, Oral, and Nasal.

3) By Distribution channel: Hospital Pharmacy, Online sales, and Retail Pharmacy.

North America Leads Vitamin B12 Market

The global vitamin B12 market is likely to dominate the North American region throughout the forecast period. Increasing awareness of vitamin deficiency, a more sedentary lifestyle, and increased affordability of various vitamin supplements are some of the factors influencing market expansion in the region. Due to boosting take-off vitamin supplements in the area and enhanced healthcare facilities that supply affordable multivitamins to the public, Europe is expected to win the second leading position in the market. In the Asia-Pacific area, a growing vegetarian population in countries like India is expected to exacerbate vitamin deficiencies and increase reliance on supplements.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players

Global vitamin B12 market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance,

In November 2021, Sanofi announced the completion of its acquisition of Kadmon Holdings, Inc. The acquisition further strengthens growth and expansion for the General Medicines portfolio.

In Feb 2021, Bristol Myers Squibb announced that it has successfully completed its acquisition of MyoKardia, Inc. in an all-cash transaction for approximately $13.1 billion. With the completion of the acquisition, MyoKardia shares have ceased trading on the NASDAQ Global Select Market and MyoKardia is now a wholly owned subsidiary of Bristol Myers Squibb.

Request   a   case   study   or   sample   research   report: https://precisionbusinessinsights.com/request-sample/?product_id=37591

Key player’s profiles in the vitamin B12 market report are Apotheca Inc, Merck KGaA, Charkit Chemical Company LLC., Johnlee Pharmaceuticals Pvt. Ltd., American Regent, Inc., Koninklijke DSM N.V., Chemkart, Bristol-Myers Squibb, Sanofi-Aventis, Pfizer.

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

Contact:

Mr. Satya

Precision Business Insights| Toll Free: +1 866 598 1553

Email: [email protected]
Kemp House, 152 – 160 City Road, London EC1V 2NX
Web: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747