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Alpha Lipoic Acid Market incredible future growth | 2018 Key Players are Shanghai Shyndec, Now Health Group, AlzChem AG, Life Extension, Infa Group, Swanson Health Products, Qidu Pharmaceutical, HiMedia Laboratories, Health Genesis Corporation and Sabinsa
Alpha Lipoic Acid Market
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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.
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.
Asia Pacific for alpha lipoic acid market shall witness gains more than 7% during the forecast timespan. It is due to the developing economic conditions, which have considerably improved the healthcare industry in recent times and have eventually fueled alpha lipoic acid demand in recent times. Asia Pacific, both in terms of volume and value, shall be leading the global alpha lipoic market over the forecast timespan. Shifting of pharmaceutical manufacturing units to countries including India and China shall generate heavy revenue for the industry during the forecast period.
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Alpha Lipoic Acid Market By Product
o R-lipoic acid
o S-lipoic acid
Alpha Lipoic Acid Market By Application
o Dietary supplement
o Slimming products
o Medical drugs
o Others
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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 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.
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