The growing health concern and changing lifestyle and dietary habits are driving the demand for the Cyanocobalamin market.
NEW YORK, NY, UNITED STATES, November 6, 2021 /EINPresswire.com/ — The global Cyanocobalamin market is forecast to reach USD 210.4 Billion by 2027, according to a new report by Reports and Data. Cyanocobalamin drugs are used to treat and prevent the lack of vitamin B12 that may be caused by due to pernicious anemia, certain infections, diseases, or medications that reduce the level of Vitamin B12 absorbed from food; or a vegan diet.
An increase in the health consciousness among the consumers has boosted the demand for veganism, which has boosted the demand for vegan food among the population. A significant increase in the vegan population has increased the deficiency of certain vitamins, such as Vitamin B12. The deficiency of vitamin B12 in pure vegan products is driving the demand for the product. Cyanocobalamin is the synthetic form of vitamin B12.
A deficiency in the key vitamin can cause severe symptoms, including nerve damage, fatigue, neurological problems, and digestive issues, like depression and memory loss. Therefore, many people turn to vitamin B12 supplements to help meet their needs and prevent a deficiency.
Rapid urbanization and a rise in disposable income coupled with an increase in awareness regarding health issues are the factors driving the market growth during the forecast period. Rising prevalence of depression, paranoia, and memory loss is also propelling the demand for Vitamin B12. Favorable outlook towards medical nutrition will also drive the demand for the Cyanocobalamin.
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A comprehensive analysis of the value chain and downstream raw materials and upstream essentials is offered in the report. The market report also covers technical data, manufacturing and production costs, research and development activities, regulatory framework, macro and micro-economic factors, and globalization. The report further segments the Cyanocobalamin market on the basis of key companies, product types, applications, and key regions to impart better understanding of the Cyanocobalamin market.
Leading Companies Profiled in the 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, and Pfizer, among others.
Further key findings from the report suggest
In the food and beverage industry, Cyanocobalamin is used to fortify in various food and beverage products as it is tasteless and odorless, and does not impact the previous taste and odor of the food products. The demand for a fortified food product is rising in the food and beverage sector owing to rise in health awareness among the population.
Tablet is the most commonly used type of Cyanocobalamin supplement due to the cost-effectiveness and easy packaging techniques. Tablets are highly preferred by consumers owing to their easy material packing and extended shelf life.
Food grade materials are either safe for human consumption or it fine to come into direct contact with food products. Food contact surfaces are made of food-safe materials that are designed to withstand the environment in which they will be used. This includes exposure to sanitizing agents, cleaning compounds, and cleaning procedures.
Growing awareness about the significance of a healthy diet in countries such as India and China is expected to drive the market in the region. The upcoming retail sector in emerging nations such as Indonesia, Malaysia, China, and India are propelling the market in the region. Support from the government to promote development initiatives is also expected to drive the market in the upcoming years.
The primary driver for the online retailing of the Cyanocobalamin market is the better online education and targeted marketing. This has increased the ease and comfort of consumers buying online. Online sites are dedicated to products appropriate for the 50+ demographic to shop for by need. Many sites now have live chat options to instantly help out the customers with their specific questions.
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For the purpose of this report, Reports and Data have segmented into the global Cyanocobalamin market on the basis of grade, form, end-use, distribution channel, and region:
Grade Outlook (Revenue, USD Million; 2016-2027)
Form Outlook (Revenue, USD Million; 2016-2027)
End-Use Outlook (Revenue, USD Million; 2016-2027)
Distribution Channel Outlook (Revenue, USD Million; 2016-2027)
Key Regions Covered in the Report:
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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The pharma and healthcare industry, over the recent past, has undergone a paradigm shift with regards to the adoption of advanced technologies. Integration of AI, ML, 3D printing, and AR/VR have accelerated the R&D process, develop innovative and personalized medicines and therapies, and have improved efficiency and effectiveness of overall healthcare processing thereby improving patient outcomes. In addition, growing popularity and acceptance of wearable tech that enables patients to manage their health and make fruitful decisions and increasing integration of patient monitoring systems have further contributed to the revenue growth of the market. Progress in genomics and proteomics, focus on personalized medicine, and increasing number of clinical trials for pipeline therapeutics are further expected to create lucrative opportunities for key players in the market.
Key Benefits of the Global Cyanocobalamin Market Report:
In-depth analysis of the market potential, threats, limitations, growth prospects and opportunities, drivers, restraints, challenges, and risks
Analysis of the market opportunities and key trends to help stakeholders capitalize on the emerging prospects
Analysis and accurate forecast estimation of the Global Cyanocobalamin Market
Study of the key players including SWOT analysis and Porter’s Five Forces
Analysis of each segment and sub-segment of the market to determine the growth trends and their market contribution
Highlights of the TOC of the report:
Chapter 1: Market overview
Chapter 2: Global Cyanocobalamin market analysis
Chapter 3: Regional analysis of the Cyanocobalamin industry
Chapter 4: Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
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Source: EIN Presswire