Vitamin D Testing Market Is Projected To Grow Due To Increase In Chronic Illnesses Till 2025: Grand View Research, Inc.
The global vitamin D testing market is expected to reach USD
1.1 billion by 2025, according to a new report by Grand View Research, Inc.
Global increase in geriatric population as well as cases of chronic illnesses
is likely to drive the market during the forecast period.
Furthermore, increase in
investment for development and commercialization of various accurate,
innovative, and easy-to-use tests by various market players and governments is
likely to drive the market growth. For instance, in January 2017, Future
Diagnostics and DIA source received a grant of EUR 1.4 million from the
European Commission to develop a unique CE-marked assay that can measure the
level of free vitamin D (25OHD) in the body. In addition, this assay will
assist in early recovery of patients suffering from vitamin D deficiency by
providing optimized treatment, offering an opportunity to save treatment costs.
Vitamin D assay measures the
level of vitamin D in two forms. Hence, the market has been divided by two
major types of tests, namely 25-Hydroxy Vitamin D test and 1, 25-Dihydroxy
vitamin test.
The 5-hydroxy vitamin D tests or
assay segment dominated in 2016 due to its greater ability to identify bone
malformations, softness, weakness, and fractures in adults. Its domination is
likely to continue in the forecast period as well.
U.S. vitamin D testing market by type of test, 2014 - 2025 (USD Million)
Browse full research report on Vitamin
D Testing Market Analysis:
Further key findings from the report suggest:
- Rising
incidence of chronic illnesses and growing geriatric population are
expected to propel the growth of the market with a CAGR of 9.4% from 2017
to 2025
- 5-hydroxy
vitamin D test segment accounted for the largest share and is anticipated
to witness strong growth during the forecast period. This can be
attributed to the availability of several commercial products, ongoing
research in the field, and the ability to accurately detect bone
malformations.
- Geographically,
North America held the largest share in 2016. It is expected to maintain
its dominance during the forecast period due to higher awareness about
screening, higher healthcare expenditure as compared to other developing
countries, and local presence of market players.
- The industry
in Asia Pacific is projected to witness substantial growth over the next
decade owing to growing investments by several market players in the
region, growing healthcare expenditure, and recent commercialization of
tests in major markets, such as Japan and China
- Some of the
key players are Abbott Laboratories; F. Hoffmann-La Roche Ltd.; Hologic,
Inc.; Siemens Corporation; Danaher Corporation; Quest Diagnostics, Inc.;
bioMérieux SA; and DiaSorin S.p.A.
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