Market outlook of the vitamin D testing market in the US
Technavio's market research analyst has estimated this market to show steady growth during the forecast period. The prospect for growth in this market is dependent on factors like the high incidence of vitamin D deficiency among the populace in this region, which results in its slow but moderate CAGR of around 4% by 2019.
The prevention of various acute and chronic diseases is the key driver for the growth of this market. Vitamin D deficiency can lead to various chronic diseases like rickets and osteoporosis, and can also result in cardiovascular diseases, cancer, asthma in infants, cognitive disorders, and autoimmune diseases. The incidence of these diseases can be reduced by frequently testing the vitamin D levels, which in turn would help to reduce the overall healthcare expenditure.
Application-based segmentation and analysis of - 25-Hydroxy vitamin D tests & 1,25-Dihydroxy vitamin D test
In this market research report, analysts estimate the 25-Hydroxy vitamin D tests segment to be the largest market segment during the forecast period. Currently, this market segment accounts for a share of nearly 76% and is envisaged to retain its dominating hold over the market by 2019. The ability of 25-Hydroxy vitamin D tests to identify bone malformations and softness, bone weakness, or fractures in adults is one of the most significant factors that accounts for its high market share during the forecast period.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
25-Hydroxy vitamin D tests 1,25-Dihydroxy vitamin D test Competitive landscape and key vendors - Roche Diagnostics, Abbott Diagnostics
This market is highly competitive and consists of vendors that focus on test development and research. These vendors compete on the basis of price, quality, and breadth of product line, technology, and distribution capabilities to gain maximum prominence in the market.
Key vendors in this market are -
Roche Diagnostics Abbott Diagnostics Siemens Healthcare Diagnostics Biomeriux Diasorin Quest Diagnostics Other prominent vendors analyzed in this market research are Diazyme laboratories, Biokit, ESA Biosciences, Quest Diagnostics Inc., The Vitamin D Company, Tosoh Bioscience Inc., Qualigen Inc., Dade Behring, DIAsource ImmunoAssays S.A, Ortho-Clinical Diagnostics, Piramal Healthcare, Beckman Coulter, and Becton Dickinson.
Growth drivers, challenges, and upcoming drivers - Vitamin D
Upcoming trends such as the augmented adoption of home vitamin D testing kits are rapidly gaining popularity as they are highly cost efficient. Since this market is facing declining reimbursement, patients have to pay out of their pockets to perform these tests. Therefore, in recent times, it has been observed that many patients prefer carrying out such tests at the convenience of their homes as it reduces the overall expenditure.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the vitamin D testing market in the US. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
What will the market size and the growth rate be in 2019? What are the key factors driving the vitamin D testing market in the US? What are the key market trends impacting the growth of the vitamin D testing market in the US? What are the challenges to market growth? Who are the key vendors in the vitamin D testing market in the US? What are the market opportunities and threats faced by the vendors in the vitamin D testing market in the US? Trending factors influencing the market shares of the US? What are the key outcomes of the five forces analysis of the vitamin D testing market in the US? Technavio also offers customization on reports based on specific client requirement.
Global Vitamin B-complex Ingredients Market 2015-2019 Global Vitamin D Testing Market 2015-2019 Global Vitamin Ingredients Market 2015-2019
Technavio Announces the Publication of its Research Report – Vitamin D Testing market in US 2015-2019
Technavio recognizes the following companies as the key players in the Vitamin D Testing market in US: Roche Diagnostics, Abbott Diagnostics, Siemens Healthcare Diagnostics, Biomeriux, Diasorin and Quest Diagnostics
Other Prominent Vendors in the market are: Diazyme laboratories, Biokit, ESA Biosciences, Quest Diagnostics Inc., The Vitamin D Company, Tosoh Bioscience Inc., Qualigen Inc., Dade Behring, DIAsource ImmunoAssays S.A, Ortho-Clinical Diagnostics, Piramal Healthcare, Beckman Coulter, and Becton Dickinson.
Commenting on the report, an analyst from Technavio’s team said: “There is an increased focus on the strong scientific evidence that supports the combined use of calcium and vitamin D supplementation in the prevention of osteoporotic fractures, which is a commonly occurring condition due to vitamin D deficiency. The physicians are now focused on evidence-based medicines due to the low costs and the potential side-effects caused by many other treatments. The key vendors and manufacturers are constantly innovating to make accurate solutions by investing in R&D.”
According to the report, the market is driven by factors such as a high rate of vitamin D deficiency in the US, although the number of tests performed is low. Since detection of vitamin D will prevent major chronic diseases, it propels the growth of the market in the US, as the US does not want to increase its burden for chronic diseases. Also rapid initiatives are taken by the government to establish a standard for vitamin D testing to overcome the lack of accuracy.
Further, the report states that there are certain factors that pose as a challenge to the vitamin D testing market in the US. These factors include an increase in the number of product recalls and the lack of availability of vitamin D tests that provide accurate results.