The global cyanocobalamin Market is anticipated to grow at a CAGR of 3.5% during the forecast period (2022-2028). Cyanocobalamin is a type of vitamin available in foods of animal origin such as liver, fish, and eggs. The deficiency of cyanocobalamin generally leads to the cause of pernicious anemia in humans. It is available in various dosage forms such as tablets, injections, sprays, and capsules. The market growth is majorly attributed to the increasing trend observed for the growing adoption of vegan diet. Although veganism and the trend of vegetarian food have vastly affected the socioeconomics, it has also led to the lack of specific nutrients, such as nutrient B12 among the affected population. It is owing to cyanocobalamin is the manufactured type of nutrient B12, whose deficiency may cause anemia (as nutrient B12 supports in the development of red platelets in the bone marrow). To supplement this lack, cyanocobalamin injections are adopted effective sources to meet the insufficiency of vitamin B12.
Another key factors that support the growth of cyanocobalamin includes the high prevalence of memory loss, depression bipolarity, and paranoia. All these are known to be the result of deficiency of cyanocobalamin. The Institute for Health Metrics and Evaluation (IHME), Global Burden of Diseases states the typical age of onset of bipolar disorder is the late teens or the early 20s, and a history of depression is common in people diagnosed with bipolarity. Thus, in order to avoid the prevalence of such medical conditions among people, the demand for cyanocobalamin is likely to grow, thereby boosting the global cyanocobalamin injection market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Form
- By Grade
- Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape: Koninklijke DSM N.V., Merck KGaA, and Mylan NV, among others.
A full report Cyanocobalamin Market of is available at: https://orionmarketreports.com/cyanocobalamin-market/97817/
Global Cyanocobalamin Market Report by Segment
By Form
- Powder
- Liquid
- Capsules
- Tablets
By Grade
- Food
- Pharmaceutical
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?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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