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Alpha Lipoic Acid Market growth is propelled by increasing product application scope in the production of medical drugs and dietary food products

Author : Ronak Bora | Published Date : 2019-03-14 

Alpha lipoic acid market size is positively influenced by increasing product application scope in production of medical drugs and dietary food products. Exponentially growing healthcare and pharmaceutical industry shall positively influence alpha lipoic acid market for the forecast duration. Amplified expenditure pattern of dual income family along with growing preference for dietary food and slimming products has propelled product demand in the past few years.

Increasing popularity of low-fat diet food and several weight loss products shall boost the overall alpha lipoic acid market in the coming years. It is an excellent antioxidant and is biologically active, thus extensively used to make drugs at a vast scale. Rising health problems and fatal diseases prevailing accompanied with increasing awareness regarding healthy lifestyle and fitness shall accelerate alpha lipoic acid market growth over the forecast timeframe. The major hurdle for future product market growth is the availability of various substitutes and some side effects caused by over dosage of product.

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Growing consumer consciousness towards healthy living standard has subsequently propelled dietary supplements demand which is expected to generate growth avenues for the alpha lipoic acid market during the forecast period. Growing geriatric population primarily in Latin America and Asia Pacific is another factor responsible for the rising dietary supplements demand to maintain healthy living standards with lesser dependency on physical workout.

Prevailing trends for diabetic people primarily in China, Australia and India has resulted in rising product demand to manufacture medical drugs which in turn will boost alpha lipoic acid market by 2024. For instance, in china approximately 20.7 million people were suffering from diabetes in 2000 which is expected to increase at a faster pace and reach over 42.3 million by 2030.

R-lipoic acid led the global alpha lipoic acid market and accounted for over 80% business in 2016. Product is organically active water and fat-soluble antioxidant which present naturally in plants, animals and body. However, it occurs as a racemic mixture of R-(natural) and S-(unnatural) form which is commercially available in the market. R-lipoic acid is effective in treating diabetes and is an excellent neuroprotective agent.

Medical drugs segment is foreseeable to grow at a CAGR close to 6% by 2024. Robust product demand to manufacture various drugs which can treat terminal disorders such as diabetes, nerve pain, cataract formation, cancer treatment, blood sugar level, skin discoloration, HIV, healing wounds and coronary artery bypass graft (CABG) surgery will generate plentiful growth aspects for the medical drugs segment which in turn will drive alpha lipoic acid market by 2024.

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Asia Pacific is anticipated to grow at a CAGR of over 7% over the projected time spell. This is primarily attributed to rising pace of diabetic patients and other lethal diseases including liver ailment, HIV, cancer treatment, neuro disorder, migraine treatment, etc. in the region which will help generate significant revenue for the alpha lipoic acid market by 2024. For instance, diabetes health expenditure in China was ranked 2nd in 2015 with USD 51 billion which is expected to rise to USD 72 billion by 2040.

Europe followed Asia Pacific in terms of revenue in 2016 and had significant market share in the same year. Higher penetration of online business in Europe has resulted in propelling the alpha lipoic acid market for medical drugs production in this region. Middle East & Africa and Latin America are forecast to witness significant growth, close to 6%, by 2024. This can be attributed to its developing pharmaceutical industry and rising demand for dietary and slimming food products.

The alpha lipoic acid market is fairly competitive. Key product manufacturers are Now Health, HiMedia Laboratories, Sabinsa Corporation, AlzChem AG, Qidu Pharmaceutical and Infa Group. Other prominent market share contributors are Swanson Health Inc., Cambridge Commodities Limited, Toyo Hakko Company Limited and Shanghai Shyndec (Modern) Pharmaceutical Company Limited.

Browse key industry insights spread across 154 pages with 152 market data tables & 12 figures & charts from the report, “Alpha Lipoic Acid Market” in detail along with the table of contents:

www.gminsights.com/industry-analysis/alpha-lipoic-acid-market

 

Alpha Lipoic Acid research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in tons and revenue in USD thousand from 2013 to 2024, for the following segments:

Alpha Lipoic Acid Market By Product

  • R-lipoic acid
  • S-lipoic acid

Alpha Lipoic Acid Market By Application

  • Dietary supplement
  • Slimming products
  • Medical drugs
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Indonesia
    • Malaysia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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