Global Vitamin B12 Drops Market Anticipated to Reach US$ 155.1 Million by 2031

According to a recent market study published by Growth Market Reports, titled, “Global Vitamin B12 Drops Market by Patient Type, by Indication, by Distribution Channel, and by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 78.6 Million in 2022 and is expected to grow at a growth rate of 8.9% by the year 2031.

Vitamin B12 Drops

Vitamin B12 drops are a type of supplement that provide the essential nutrient vitamin B12 in liquid form. Vitamin B12 is crucial for various bodily functions, including maintaining metabolism, producing DNA and red blood cells, and keeping the nervous system healthy. While most people get enough vitamin B12 from their diet, certain groups may require additional supplementation, such as older adults, pregnant or breastfeeding individuals, those following a vegan or vegetarian diet, and people with digestive issues or taking certain medications.

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Vitamin B12 consists of a combination of B vitamins that are intended to cure or prevent vitamin deficiencies caused by a poor diet, specific diseases, alcoholism, or while pregnancy. Vitamins are important for maintaining health as they serve as the body's building blocks. Thiamine, riboflavin, niacin/niacinamide, vitamin B6, vitamin B12, folic acid, and pantothenic acid are examples of B vitamins. Some B vitamin products include components like biotin, vitamin C, vitamin E, and zinc.

On the basis of patient type, the global Vitamin B12 Drops market is segregated into Adult and Paediatric. The adult segment is expected to expand at a CAGR of 8.1% during the forecast period, as vitamin B12 is used as an essential nutrient that helps in keeping the body's blood and nerve cells healthy and helps make DNA, the genetic material in all of your cells. Vitamin B12 also helps prevent megaloblastic anaemia, a blood condition that makes people tired and weak.

In terms of Indication, the global Vitamin B12 Drops market is classified into Nervous system, Heart Health, Immune Support, Anaemia and Others. The nervous system segment is expected to expand at 8.4% CAGR during the forecast period, as vitamin B12 is involved in the production of myelin, the protective sheath that surrounds nerve fibers. Myelin helps to insulate the nerves and ensure that they function properly. Vitamin B12 also helps to synthesize neurotransmitters, the chemicals that allow nerve cells to communicate with each other.

In terms of Distribution Channel, the global Vitamin B12 Drops market is bifurcated into Hospital Pharmacies, Retail Pharmacies, Online Pharmacies. The online pharmacies segment is projected to expand at a significant CAGR of 8.4% during the forecast period. Online retailing has increased consumer reach and has evolved as a key source of revenue for many companies. Online retailing offers high sales reach to businesses and high accessibility of products to customers.

The outbreak of coronavirus disease in 2019 (COVID-19) had a low impact on the global Vitamin B12 Drops market. This product is majorly used to treat vitamin B12 deficiencies. Thus, rise in demand for vitamin supplements and nutraceuticals has resulted in rising demand for vitamin B12 drops.

As per Growth Market Reports by industry analyst Pratik Pandit, “Vitamin B12 Drops market is moderately fragmented as there are many small players in the market for the manufacturing of this product.

Supply chain management is an essential part of any business. A supply chain contains a series of steps to get products from their original state to the customers. Raw materials used for manufacturing Vitamin B12 Drops are shipped to manufacturers to be processed into final products. Quality checks are performed throughout the production process by manufacturers to ensure the quality of the product.

Key Takeaways from the Study:

The players in the Global Vitamin B12 Drops Market include BioCare Ltd, Bluebonnet Nutrition, Carlyle Nutritionals, LLC, GO NUTRIENTS, Healthvit, JoySpring, KLAIRE LABS, Live Wise Naturals, Nature's Bounty, Protocol For Life Balance, Triquetra, Ultra6 Nutrition.

Target Audience:

• Supply-side: Manufacturer and distributors.

• Demand Side: Hospitals, Homecare, Speciality Clinics

• Regulatory Side: Concerned government authorities, and other approved regulatory bodies.

• Associations and Industry Bodies: Food and Drug Administration (FDA), Federal Trade Commission (FTC)