Vitamin B12 Drops MarketSize and Trends

Global Vitamin B12 Drops Market is estimated to be valued at US$ 124.1 million in 2022, and is expected to exhibit a CAGR 7.5% over the forecast period (2022-2030).

Global Vitamin B12 Drops Market - Impact of the Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 619 million cases and 6.53 million deaths due to coronavirus (COVID-19) were reported till October 3, 2022, across the globe.

Impact of COVID-19 on Demand and Supply of Vitamin B12

The COVID-19 pandemic and lockdown in various countries across the globe has impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Several countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.

However, Coronavirus (COVID-19) pandemic is expected to positively impact growth of the global vitamin B12 market during the forecast period. For instance, according to the article published in Nutrition Reviews, a medical journal publishing review articles in the field of nutrition science, November 2021, the study was conducted in Mexican Institute of Social Security, Michoacán, Mexico, Vitamin B12 insufficiency can be an asset in treating COVID-19 patients or those with persisting symptoms of the COVID-19. Vitamin B12 plays an important role in viral infections. The consumption of a healthy diet containing vitamin B12 sources, and especially supplementation with methylcobalamin and cyanocobalamin, are promising alternatives as adjuvants in the treatment of COVID-19.

Figure 1: Global Vitamin B12 Drops Market Share (%) Analysis, By Patient Type, 2022

Global Vitamin B12 Drops Market – Key Drivers

There are various benefits of using vitamin B12 drops, this is expected to fuel the global vitamin B12 drops market growth over the forecast period. Benefits of using vitamin B12 drops include –

Vitamin B12 complex is essential for the maintenance of healthy nervous tissue
Sub-lingual liquid (taken under the tongue) is absorbed faster and is more soluble so that more amount of vitamin is absorbed through the body
Vitamin B12 is helpful to convert carbohydrates to glucose, which leads to energy production
Vitamin B12 assists the digestive system in functioning properly

Increasing number of anemia patients is expected to boost the global vitamin b12 drops market growth over the forecast period. For instance, according to the World Health Organization (WHO) 29.9% of women aged between 15-49 years suffered from anemia in 2019 as Vitamin B12 is needed to make red blood cells, which carry oxygen to all parts of your body and therefore it is used in anemia treatment.

Figure 2: Global Vitamin B12 Drops Market Value (US$ Mn), by Region, 2022