The global methylmalonic acid market is anticipated to grow at a significant CAGR of 4.5% during the forecast period (2024-2031). The growing awareness amongst people towards health consciousness has significantly helped in boosting the global methylmalonic acid market. The methylmalonic acid blood test is used to diagnose the deficiency of vitamin B12 in the human body. The test is also used to diagnose methylmalonic acidemia (MMA), a rare genetic disorder disease. Product innovations coupled up with many leading advancements and research pipelines in the methylmalonic acid market are anticipated to drive the market in the coming years. Product innovations such as home testing kits for vitamins and other diseases that are easy to use and convenient have been boosting the market development.
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For instance, In December 2021, OmegaQuant announced a new Vitamin B12 Test that comes with a sample collection kit that enables testing at home. This easy, safe, and quick test detects a chemical in the urine called methylmalonic acid, which is a more accurate way of diagnosing vitamin B12 deficiency. The vitamin B12 test from OmegaQuant differs from the company’s other tests in that it takes a urine sample rather than blood. Fortunately, the gadget that comes with the package makes sample collection safe, simple, and seamless. Similarly, there are several innovative products in the market which helps in getting accurate results about health diagnostics which will drive the methylmalonic acid market during the forecast period.
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Market Coverage
- Segment Covered-
o By Applications
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- including, Thermo Fisher Scientific Inc., Cambridge Isotope Laboratories Inc. (Eurisotop), and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Methylmalonic Acid Market Report Segment
By Applications
- Vitamin B12 deficiency testing
- Clinical Analysis of Serum/Plasma
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