Press release
Vitamin B12 Market Update 2024: The Turnaround Continues | Luitpold Pharmaceuticals (Daiichi Sankyo), Endo International, Sanofi-Aventis
Vitamin B12
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The global Vitamin B12 market size is expanding at robust growth of 5.8%, sizing up market trajectory from USD 2.330 Billion in 2023 to USD 3.54 Billion by 2029.
Definition:
Vitamin B12, also known as cobalamin, is a crucial water-soluble vitamin essential for various bodily functions, including nerve function, red blood cell formation, and DNA synthesis.
On the off chance that you are engaged with the industry or expect to be, at that point this investigation will give you a complete perspective. It's crucial you stay up with the latest sectioned by Applications [Pharmaceuticals, Supplements, Medications, Food and Beverages, Fortified Foods, Skin Care Products, Hair Care Products, Oral Care Products, Animal Feed and Nutrition], Product Types [Cyanocobalamin Injection, Cyanocobalamin Oral, Cyanocobalamin Spray] and some significant parts of the business.
Market Trends:
Growing awareness of the importance of a balanced diet and nutritional supplements.
Market Drivers:
Aging population and the associated health concerns.
Market Opportunities:
Expansion of the nutraceutical and supplement industry.
Market Restraints:
Expansion of the nutraceutical and supplement industry.
Market Challenges:
Expansion of the nutraceutical and supplement industry.
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Vitamin B12 Market by Key Players: Luitpold Pharmaceuticals (Daiichi Sankyo) (United States), Endo International (Ireland), Sanofi-Aventis (France), Jamieson (Canada), Novartis (Switzerland), Teva (Actavis) (United States), Merck (Germany), Mylan (United States), Bayer HealthCare (Germany), Pfizer (United States).
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 434 322 0091
sales@htfmarketintelligence.com
About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, resea rch, tools, events, and experience that assist in decision-making.
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