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Alpha Lipoic Acid Market Size in medical drugs segment to grow at 6% CAGR till 2024

Author : Ronak Bora | Published Date : 2019-08-08 

Alpha lipoic acid market in 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.

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.

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The conclusions drawn from several experimental studies have proved that ALA can inhibit the growth of atherosclerosis plaque as well as atherosclerosis and can lower oxidative stress occurring post heavy training activities. Today, ALA (Alpha Lipoic Acid) finds growing usage as a food supplement across the medical and nutritional management sectors. Rising popularity of ALA usage across myriad sectors will spur alpha lipoic acid market expansion over 2017-2024.

Despite providing benefits, ALA usage has also led to the demonstration of side effects such as skin allergies and gastrointestinal distress issues such as abdominal pain, nausea, dyspepsia, and vomiting in patients who were injected with the prescribed doses of alpha lipoic acid. Results derived from the trials conducted on the patients after administering ALA have depicted the occurrence of skin ulcers, pruritus, hypoglycemia, and bronchitis in patients.

Limited product use owing to its several side effects including itching sensation on the skin, nausea, etc., is probable to hamper the global alpha lipoic acid market in the near future. It is not advisable for pregnant women, thyroid patients, Vitamin B1 deficient people to consume product due to adverse side effects which is likely to hamper alpha lipoic acid market by 2024. Furthermore, availability of several product substitutes namely B-alanine, chromium, Coenzyme Q10, etc. in market is likely to impede the business by 2024.

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.

Speaking in terms of geographical trends, alpha lipoic acid industry is set to expand its footprints across major regions – North America, Latin America, and the Asia Pacific. As per estimates, Latin America alpha lipoic acid market is slated to grow at a rate of 6% over the coming timeline.

The overall alpha lipoic acid market is highly fragmented with major companies accounting for roughly 35% of the total industry share in 2016. Significant business share contributors are Shanghai Shyndec (Modern) Pharmaceuticals, Alzchem, Life Extension, Swanson Health, Now Health Group, Sabinsa Corporation, Infa Group and HiMedia Laboratories.

Glimpse of Table of Content (ToC)

Chapter 4.  Alpha Lipoic Acid Market, By Product

4.1.  Alpha lipoic acid market share by product, 2016 & 2024

4.2.  R-lipoic acid

4.2.1.     Market estimates and forecasts, 2013 - 2024

4.2.2.     Market estimates and forecasts by region, 2013 – 2024

4.3.  S-lipoic acid

4.3.1.     Market estimates and forecasts, 2013 - 2024

4.3.2.     Market estimates and forecasts by region, 2013 – 2024

Chapter 5.  Alpha Lipoic Acid Market, By Application

5.1.  Alpha lipoic acid market share by application, 2015 & 2024

5.2.  Dietary supplements

5.2.1.     Market estimates and forecasts, 2013 - 2024

5.2.2.     Market estimates and forecasts by region, 2013 – 2024

5.3.  Slimming products

5.3.1.     Market estimates and forecasts, 2013 - 2024

5.3.2.     Market estimates and forecasts by region, 2013 – 2024

5.4.  Medical drugs

5.4.1.     Market estimates and forecasts, 2013 - 2024

5.4.2.     Market estimates and forecasts by region, 2013 – 2024

5.5.  Others

5.5.1.     Market estimates and forecasts, 2013 – 2024

5.5.2.     Market estimates and forecasts by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/alpha-lipoic-acid-market

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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