Global Niacin And Niacinamide Market Is Projected To Witness A Cagr Of 5% In Value By 2027

Rockville, US, 2022-May-02 — /EPR Network/ —

Niacin and Niacinamide are innovative supplements that have received attention for their ability to cut squamous and basal cell skin cancers by nearly 20%, giving the market unprecedented rigor. Additionally, cosmetic and skin care formulations based on niacinamide are gaining considerable momentum due to their anti-aging properties. As a result, the market will nearly double to reach a value of $1.6 billion by 2027. Because these properties will help position niacin and niacinamide as miracle supplements in the near future. Fact.MR anticipates that the global niacin and niacinamide market will register a growth rate of over 5% during the forecast period (2019-2027) owing to the increasing utilization of drug and skin care product formulators.

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Fact.MR says niacin is realizing the potential of additional therapy for dialysis patients.

Most patients with end-stage renal disease have been found to develop hyperphosphatemia. According to Fact.MR, in the near future, niacin will most likely become an inexpensive and patient-convenient add-on therapy for the management of phosphorus in dialysis patients. Fact.MR notes that the demand for niacin and niacinamide will skyrocket over the next decade, owing to the nature of its enhanced safety and clinical benefits.

 

Key highlights of the Niacin and Niacinamide Market:

• Animal nutrition accounts for more than half of the market revenue due to the high demand for niacin in animal nutrition under the premise of limiting medical conditions such as ketosis.
• Cosmeceuticals applications maintained a nominal share within the niacin and niacinamide market in terms of value. However, as major players explore new application areas within the cosmeceutical industry, “Cosmeceuticals” will be the most lucrative application in the long-term forecast witnessing a strong CAGR of ~7%.

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• The use of niacin and niacinamide for the treatment of cancer, which is investing more than $50 billion annually in oncology R&D, will provide a boost to the market.
• MR revealed that in a study over the past half a year, side effects related to niacin and niacinamide were found. To alleviate the side effects, market players including Jubilant Life Sciences Limited and Lonza Group AG are pioneering research efforts to reduce the side effects of niacin.
• Asia Pacific Excluding Japan (APEJ) Region is projected to rise at the fastest CAGR during the long-term forecast period 2019-2027 due to the surge in lifestyle-related diseases such as metabolic dysfunction and obesity

Niacin and Niacinamide Market: Segmentation

Fact.MR has studied the Niacin and Niacinamide Market with detailed segmentation based on form, end use and geography.

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Product innovation focused on reducing side effects

The market for niacin and niacinamide is mature enough, but there is a lot of room for improvement. It is expected that niacin drugs with improved benefits and fewer side effects will be available in the near future. Market key players including Jubilant Life Sciences Limited, Lonza Group AG, BASF SE, Koninklijke DSM NV and others are focusing on innovative product launches and acquisitions to strengthen their presence in the global niacin and niacinamide market.

Along with other regional market players, domestic manufacturers in China find lucrative opportunities in the market, backed by government initiatives for adoption of high-nutrition foods, such as the US Department of Health and Human Services’ “Dietary Guidelines for Americans 2015-2020.” Eat Right India’ campaign is to touch the right nerves of consumers.

Read more about trends and similar reports from Fact.MR –  https://www.globenewswire.com/en/news-release/2018/11/19/1653381/0/en/Global-Animal-Model-Market-Asian-Territory Expected to provide bona fide demand during the forecast period until -2026-2026-Says-Fact-MR.html

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