5-hydroxytryptophan market near term outlook to remain stunted owing to covid-19 crisis: concludes Fact.MR
The important amino acid precursor used in serotonin formulations is 5-hydroxytryptophan. It is also known as the neurotransmitter precursor of the melatonin hormone.
It serves as a booster for serotonin synthesis. With the changing lifestyle of people, stiffness in people’s lives is increasing this is booming the demand for 5-hydroxytryptophan.
In comparison to Tryptophan, 5-hydroxytryptophan can easily cross the blood-brain barrier that makes it easy to solubilize in the system.
By virtue, easy penetration in the body, 5- Hydroxytryptophan can induce sleep in an individual which respite from depression and anxiety.
Compared to another amino acid precursor-like serotonin, Dopamine the efficiency of adsorption of 5-hydroxytryptophan is around 47-48% which is soaring its demand in the nutraceutical industry.
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The benefit of 5-hydroxytryptophan over L-tryptophan is that the development of the protein or niacin cannot be neglected.
5-hydroxytryptophan is a medication derived from plants over an L-tryptophan product derived from synthetics for depression which is making its accessibility effortless.
The driver for the 5-hydroxytryptophan market is the rising stress levels that are contributing to an individual's decrease in the level of serotonin.
Contrarily the lack of knowledge and government legislation and the oscillating prices is the restraint for the 5-hydroxytryptophan industry.
5- Hydroxytryptophan market is expected to gaze the mounting demand as the demand for the dietary supplements are expanding along with the demand of artificial body supplement.
The utilization in the pharmaceutical industry helps Down syndrome person to increase activity rate and locomotion properties. These all factors are bestowing the demand for 5-hydroxytryptophan.
The environmentally friendly 5-hydroxytryptophan can increase with the improvement of technology as a substitute for chemically synthesized tryptophan. Research and development, on the other hand, could cater to the growth of the market.
In recent studies by WHO, China, India and the USA are the countries with the highest number of depression cases in the world.
The US is the country with most of the criminal cases this might increase the demand for 5- Hydroxytryptophan in the upcoming years.
5-Hydroxytryptophan Market: COVID-19 Impact Insights
COVID-19 has forced many countries to impose lockdown which has eventually lead to the decline of the 5- Hydroxytryptophan market all around the globe.
Due to the global shut down the material was stored in one place which eventually leads to spoilage of the material due to the short life span of the medicine which is being made.
The demand for 5- Hydroxytryptophan aggrandized during the second and third quarter due to the beefing up of depression and thyroid cases thought out the world.
With the increase in the safety guidelines, the plants are being opened again with better safety precaution will lead to a growth in the demand.
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Rising consumption of the 5- Hydroxytryptophan over the period of 2nd and 3rd quarter of FY2020 has led countries to adopt the strict polices which shall curb the excessive utilization of the drug.
5-HYDROXYTRYPTOPHAN MARKET: REGIONAL OUTLOOK
Based on the geographical split the largest consumer of 5-hydroxytryptophan is North America, followed by Europe.
With the increase in awareness about public health government is spending on the development of effective medication.
The US has the largest investment in public health care due to rising cases of depression which is making it the largest consumer of 5-hydroxytryptophan.
The change in the lifestyles of people and the anticipated demand is seen in India. The producers concentrate on capacity expansion.
Therefore, demand for the 5-hydroxytryptophan market is expected to grow in the sub-continent over the medium-run forecast period.
The geographic and seasonal supply of raw materials has resulted in a worldwide increase in the cost and production of 5-hydroxytryptophan.
The plant's harvest for 5 Hydroxytryptophan begins in late December and seeds are retrieved for selling in January.
A particularly large cultivation area in China, India and Africa as an emerging new market producer.
The 5-hydroxytryptophan market is expected to see growth in the forecast period due to the increase in application and demand from all over the globe.
The expected CAGR of the Asia Pacific region for the market of 5-hydroxytryptophan is 8% because of increasing cases of depression, anxiety, obesity etc.
In some regions, like India 5-hydroxytryptophan is often sold as herbal product because there is less government regulation on such products.
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5-HYDROXYTRYPTOPHAN MARKET: KEY PLAYERS
The key players in the market of 5-hydroxytryptophan are Jarrow Formulas, Nutricost, Pureclinica, Dr Emil Nutrition, Jiaherb, health first, lamberts, health first, Swanson, Nine life, Vitamaze, Source Naturals, Vitalife.
It is a fragmented market with many players and the market is present only in a few regions.
One of the leading manufacturers, JIAHERB boasts that it can fulfil 50% of America’s 5-hydroxytryptophan demand.
The organic growth strategies are being followed in the market of 5-hydroxytryptophan which is in improving the cost of product in the regional production areas, the technology of production for the drug.
The manufacturers are working on to stabilize the 5-hydroxytryptophan price so that to attract more customer to their brand.
With the increase of awareness in the market about 5-hydroxytryptophan, the competition in the regions is increasing.
Asia Pacific companies are starting to grow in this sector as the demand for the product is increasing in the region.
As the cultivation of the product has been seen only in a few regions of the world is the reason for the high cost of 5-hydroxytryptophan.
With the few sources of production, the market growth is at a higher rate. Based on utilization the consumption of 5-hydroxytryptophan is maximum in sleep-inducing medicine
Asia Pacific companies are starting to rise their production of 5-hydroxytryptophan as the demand is increasing in the region.
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The reason for the high cost is a few cultivation areas in the world. Based on consumption of 5-hydroxytryptophan is majorly utilized for sleep-inducing medicine.
The US has invested $63 billion in the production of sleep-inducing pills, in which 5 Hydroxytryptophan might be used as an ingredient. This could be a contributing factor in increasing demand for the 5- Hydroxytryptophan market.
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