Cyanocobalamin Market To Reach USD 210.4 Billion By 2027 | Reports and Data – GlobeNewswire

New York, March 25, 2020 (GLOBE NEWSWIRE) -- The globalCyanocobalamin marketis forecast to reach USD 210.4 Billion by 2027, according to a new report by Reports and Data. Cyanocobalamin drugs are used to treat and prevent the lack of vitamin B12 that may be caused by due to pernicious anemia, certain infections, diseases, or medications that reduce the level of Vitamin B12 absorbed from food; or a vegan diet.

An increase in the health consciousness among the consumers has boosted the demand for veganism, which has boosted the demand for vegan food among the population. A significant increase in the vegan population has increased the deficiency of certain vitamins, such as Vitamin B12. The deficiency of vitamin B12 in pure vegan products is driving the demand for the product. Cyanocobalamin is the synthetic form of vitamin B12.

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A deficiency in the key vitamin can cause severe symptoms, including nerve damage, fatigue, neurological problems, and digestive issues, like depression and memory loss. Therefore, many people turn to vitamin B12 supplements to help meet their needs and prevent a deficiency.

Rapid urbanization and a rise in disposable income coupled with an increase in awareness regarding health issues are the factors driving the market growth during the forecast period. Rising prevalence of depression, paranoia, and memory loss is also propelling the demand for Vitamin B12. Favorable outlook towards medical nutrition will also drive the demand for the Cyanocobalamin.

Further key findings from the report suggest

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For the purpose of this report, Reports and Data have segmented into the global Cyanocobalamin market on the basis of grade, form, end-use, distribution channel, and region:

Grade Outlook (Revenue, USD Million; 2016-2027)

Form Outlook (Revenue, USD Million; 2016-2027)

End-Use Outlook (Revenue, USD Million; 2016-2027)

Distribution Channel Outlook (Revenue, USD Million; 2016-2027)

Regional Outlook (Revenue, USD Million; 2016-2027)

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cyanocobalamin-market

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Cyanocobalamin Market To Reach USD 210.4 Billion By 2027 | Reports and Data - GlobeNewswire