Alpha Lipoic Acid Market Size will witness over 6% growth during the projected timespan

The alpha lipoic acid (ALA) market is estimated to gain considerable growth on account of rising intake of dietary supplements by consumers worldwide. Increasing awareness about healthy living standards has skyrocketed the demand for dietary supplements. Rise in geriatric population across regions like Asia Pacific and Latin America will boost the consumption of dietary supplements.

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Alpha lipoic acid plays a crucial role in supporting weight loss owing to its multiple health benefits. Numerous brands have started to include ALA in their weight loss supplements. For example, Hydroxycut is one of the best-selling weight-loss brands in the US that uses alpha-lipoic acid along with a blend of turmeric and other products to create its Ultra Lean Supplement that helps the body to break down carbs and fats easily.
Growing concerns over diabetes coupled with its increasing cases across countries like Australia, India, and China could stimulate the demand for ALA in medical drugs. Earlier in 2000, nearly 20.7 million people in China had diabetes, figures that are predicted to scale at a faster pace, reaching 42.3 million by 2030. On this note, Global Market Insights, Inc., reckons that the alpha lipoic acid market may surpass USD 19 million by the year 2024.
Slated below are some of the ongoing trends that could fuel this market growth:
1) Surging usage in medical drugs -
Escalating requirement to develop drugs that are capable of treating terminal diseases like nerve pain, diabetes, cancer treatment, cataract formation, skin discoloration, blood sugar level, healing wounds, coronary artery bypass graft (CABG) surgery, and HIV could accelerate the adoption of ALA in pharmaceutical drugs. Estimates suggest that the segment could register a CAGR of almost 6% by the end of 2024.
2) Promising growth aspect across APAC -
Mounting cases of diabetic patients along with other lethal diseases such as HIV, liver ailment, neuro disorder, cancer treatment, and migraine treatment could strengthen the demand for alpha lipoic acid based drugs in Asia Pacific.
Studies suggest that the regional market is expected to maintain a compound annual growth rate of more than 7% within the predicted timeframe. According to public reports, diabetes health expenditure in China was close to USD 51 billion in 2015 and is projected to go up to USD 72 billion by 2040.
3) Adoption of key business strategies -
Companies operating in the alpha lipoic acid industry are focusing on implementing innovative business strategies like mergers, product innovations and collaborations to expand their overall market share. Several cosmetic companies are using ALA to create new and innovative products. Taking April 2020 for instance, Mantra Mask launched its new THC-free CBD eye gels and sheet masks that includes alpha lipoic acid as its key ingredient, helping offer optimal absorption for all skin types.
Currently, companies like Alzchem, Shanghai Shyndec (Modern) Pharmaceuticals, Swanson Health, Life Extension, Sabinsa Corporation, Now Health Group, HiMedia Laboratories, and Infa Group are leading the industry landscape with their pioneering product lineups.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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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.

This release was published on openPR.