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Calcium Gluconate Market Growth, Size, Share And Trends Report 2033
Calcium Gluconate Market Growth
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According to The Business Research Company's, The calcium gluconate market size has grown strongly in recent years. It will grow from $101.97 billion in 2023 to $110.12 billion in 2024 at a compound annual growth rate (CAGR) of 8%. The growth in the historic period can be attributed to economic growth and industrialization, increased adoption of calcium gluconate in functional foods, increasing demand for pharmaceuticals and dietary supplements, growing awareness about calcium deficiency, and regulatory support for food additives.
The calcium gluconate market size is expected to see strong growth in the next few years. It will grow to $150.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to an aging population and rising health consciousness, expansion of the food and beverage industry, digital marketing and e-commerce for product promotion, shift toward natural and organic products and emerging markets, and urbanization. Major trends in the forecast period include research and development in healthcare focusing on sustainable sourcing and production, the integration of calcium gluconate in medical treatments, customized formulations for specific health needs, and technological advancements in manufacturing processes.
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Market Drivers and Trends:
The increasing incidence of osteoporosis is expected to propel the growth of the calcium gluconate market going forward. Osteoporosis is a medical condition characterized by weakened bones due to bone density and strength loss. The cases of osteoporosis are due to sedentary lifestyles, inadequate calcium intake, hormonal changes, and certain medical conditions or medications. Calcium gluconate is utilized in osteoporosis management to supplement dietary calcium intake and support bone health. For instance, in December 2023, according to the Australian Institute of Health and Welfare (AIHW), an Australia-based government agency, osteoporosis contributed to 2,366 deaths, with a mortality rate of 6.5 deaths per 100,000 people, representing 1.4% of all deaths in 2022. Furthermore, there were 9,500 hospitalizations with a principal diagnosis of osteoporosis in 2021-22, translating to 89 hospitalizations per 100,000 population for individuals aged 45 and over. Therefore, the increasing incidence of osteoporosis is driving the growth of the calcium gluconate market.
Major companies operating in the calcium gluconate market are focused on drug development for calcium gluconate and its approval to enhance the offering of effective treatments for calcium deficiencies and related health conditions. Drug development and approval is a complex multi-stage process that involves various steps, from initial drug discovery and preclinical testing to clinical trials and eventual regulatory approval for market use. For instance, in September 2023, Amneal Pharmaceuticals Inc., a US-based publicly traded generics and specialty pharmaceutical company, received abbreviated new drug application (ANDA) approval from the U.S. Food and Drug Administration (FDA) for calcium gluconate in sodium chloride injection. The FDA approved this product with the Competitive Generic Therapy (CGT) designation and a 180-day exclusivity period. It comes in 1000 mg/50 mL and 2000 mg/100 mL. Calcium gluconate in sodium chloride injection is a small-volume parenteral bag used to treat acute symptomatic hypocalcemia in pediatric and adult patients.
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Major Key Players of the Market:
Merck & Co. Inc., Thermo Fisher Scientific Inc., Abbott Laboratories, Novartis AG, Eli Lilly and Company, Solvay, Viatris Inc., Baxter International Inc., Fresenius Kabi USA, Hikma Pharmaceuticals Inc., Amneal Pharmaceuticals Private Limited, Amphastar Pharmaceuticals, Jost Chemical Co., American Regent Inc., Coyne Chemical, Anhui Xingzhou Medicine Food Co. Ltd., Westco Chemicals Inc., Noah chemicals, ND Biotech Pvt Ltd, Global Calcium Private Limited, Foodchem, Pharma Cure Laboratories, Nivagen Pharmaceuticals Inc., Tianyi Food Additives Co. Ltd
Calcium Gluconate Market 2024 Key Insights:
• The calcium gluconate market size is expected to see strong growth in the next few years. It will grow to $150.62 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Osteoporosis Incidence Boosts Calcium Gluconate Market Growth
• Advancements In Calcium Gluconate Market With Drug Development And Regulatory Approval
• Europe was the largest region in the calcium gluconate market in 2023
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