Methylmalonic Acid Market 2022-2028

Global Methylmalonic Acid Market Size, Share & Trends Analysis Report by Application (Vitamin B12 Deficiency Testing, and Clinical Analysis of Serum/Plasma) Forecast 2022-2028

The global methylmalonic acid market is anticipated to grow at a significant CAGR of 4.5% during the forecast period. The global methylmalonic acid market is largely being driven by the inclination in demand for vitamin B12 deficiency testing kits owing to the growing awareness among people regarding the early diagnosis of various diseases. Due to the rise in health concerns and the urge to live a healthy lifestyle, people are going for regular health check-ups and blood tests. To help people get these diagnoses at ease, home test kits and apparatuses are available in the market for various blood tests like vitamin B12 deficiency tests. For instance, In December 2021, Omega Quant announced a new Vitamin B12 Test that comes with a sample collection kit that enables testing at home. This easy, safe, and quick test detects a chemical in the urine called methylmalonic acid (uMMA), which is a more accurate way of diagnosing vitamin B12 deficiency.

The global methylmalonic acid market is segmented based on the applications. Based on the applications, the market is sub-segmented into vitamin B12 deficiency testing and clinical analysis of serum/plasma. The segments mentioned above can also be customized as per the requirements. The vitamin B12 deficiency testing segment holds the major share in the market. The online availability of vitamin B12 deficiency testing kits is one of the major factors driving the growth of the methylmalonic acid market in this segment. For instance, In May 2021, LetsGetChecked announced the launch of home testing kits for vitamins. The product is available at the LetsGetChecked website and Amazon.

The global methylmalonic acid market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The analysis of the market can also be done for a particular region or country level as per the requirement. The Asia-Pacific region is expected to hold a major share in the methylmalonic acid market due to the presence of several key market players.

The major companies serving the global methylmalonic acid market include Thermo Fisher Scientific Inc., Cambridge Isotope Laboratories Inc. (Eurisotop)., Biosynth Carbosynth, Bevital AS, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In March 2021, HomoShearTherapeutics, Inc. announced that the oral small molecule HST5040 can be used to treat Methylmalonic acidemia (MMA) and Propionic acidemia (PA). The company has started the Hero study, a phase 2 trial investigating HST5040 for the treatment of MMA and PA in patients age 2 and older.

Research Methodology

The market study of the global methylmalonic acid market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. We have worked on different approaches to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalogue.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Methylmalonic acid Market Research and Analysis by Applications.

The Report Covers:

• Comprehensive Research Methodology of the global methylmalonic acid market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global methylmalonic acid market.
• Insights about market determinants that are stimulating the global methylmalonic acid market.
• The regional distribution of forecasted revenues with detailed and extensive market segments.
• Extensive profiles and recent developments of market players.