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Lactose Intolerance Treatment Market Opportunities and Strategies 2024-2033: Size, Share, and Analysis
Lactose Intolerance Treatment Market
According to The Business Research Company's, The lactose intolerance treatment market size has grown strongly in recent years. It will grow from $30.52 billion in 2023 to $32.78 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to increased awareness, changing dietary patterns, global rise in lactose intolerance cases, growing healthcare infrastructure, consumer preferences for natural and alternative products, government investments.
The lactose intolerance treatment market size is expected to see strong growth in the next few years. It will grow to $43.59 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to continued research and development, increasing incidence rates, personalized medicine approaches, rising healthcare expenditure, globalization of dietary habits, patient-centric healthcare. Major trends in the forecast period include rising demand for dairy alternatives, technological advancements in diagnostic tools, development of enzyme supplements, nutraceuticals and functional foods, global awareness and education initiatives, expansion in emerging markets.
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Market Drivers and Trends:
The increasing incidences of small intestine diseases are expected to propel the growth of the lactose intolerance treatment market going forward. The small intestine disease affects the body's digestive system and results in two conditions that are characterized by persistent gastrointestinal tract inflammation. Small intestine disorders are treated with lactose intolerance treatment. It contains lactose, which is broken down by the enzyme lactase into the simpler sugar glucose and galactose in the small intestine. For instance, in October 2022, according to a report by the United European Gastroenterology (UEG), an Austria-based non-profit organization, throughout Europe, more than 300 million people suffer from digestive illnesses. The cost of digestive diseases as a percentage of GDP was 0.12%, which translates to a potential cost of $20 billion in Europe in 2021, and the estimated cost of preventing productivity losses in 2019 was $11.4 billion. In the future, this will increase to $34.2 billion for 75% reductions. Therefore, increasing incidences of small intestine diseases are driving the growth of the lactose intolerance treatment market.
Technological advancement is a key trend gaining popularity in the lactose intolerance treatment market. Major companies operating in lactose intolerance treatment market are focused on developing techological solutions to strengthen their position in the market. For instance, in July 2023, Nestlé, a Swiss multinational food and drink processing conglomerate corporation, has introduced a versatile and cost-effective sugar reduction technology that can be applied across different product categories, with benefits beyond sugar reduction. It can also be used to produce low lactose and skimmed milk-based products, while reducing total sugars.
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Major Key Players of the Market:
Johnson & Johnson Services Inc.; Abbott Laboratories Inc.; Macleods Pharmaceuticals Limited; Nature's Way Brands LLC; Profarma; Ganeden Inc.; Deerland Probiotics & Enzymes Inc.; Novozymes A/S; Cargill Incorporated; Dean Foods Company; Lupin Pharmaceuticals Inc.; Nestlé S.A.; Alembic Pharmaceuticals Limited; Glenmark Pharmaceuticals Limited; Intas Pharmaceuticals Ltd.; Jubilant Life Sciences Limited; Wockhardt Ltd.; Alkem Laboratories Limited; Teva Pharmaceutical Industries Ltd.; Mylan N.V.; Dr. Reddy's Laboratories Ltd.; Torrent Pharmaceuticals Ltd.; Amgen Inc.; DuPont Nutrition & Biosciences Inc.; Kerry Group plc; Koninklijke DSM N.V.; Solvay S.A.; Chr. Hansen Holding A/S; Bio-Cat Inc.; Solgar Inc.
Lactose Intolerance Treatment Market 2024 Key Insights:
• The lactose intolerance treatment market will grow to $43.59 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Increasing Incidences Of Small Intestine Diseases Drives The Market
• Technological Advancement Transforms The Market
• North America was the largest region in the lactose intolerance treatment market in 2023
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