Alpha Lipoic Acid Market Analysis

Alpha Lipoic Acid Market Analysis

The R-lipoic acid segment is projected reach a market share of over 87% by the end of 2027. R-lipoic acid has a wide range of applications in preventing diabetes, influencing glucose control & neuro disorders, reducing weight, protecting against cataract formation, reducing brain damage after a stroke, reducing toxic metals from the body, improving skin texture, and reducing migraine intensity, which must be treated effectively to improve the health standards across the globe.
 

For instance, as per the WHO, the global diabetes prevalence among adults over 18 years of age was 4.7% in 1980 and reached over 9% in 2016. Henceforth, the prevailing product demand in the medical industry and food & nutrition sector will make a significant contribution to the R-lipoic acid market size in the coming years.
 

The medical drugs segment dominated the global market and accounted for 44.6% industry share in 2020. Additionally, it is forecast to attain a market share of 50% by 2027. The increasing product applications in manufacturing several drugs that can treat numerous fatal disease including diabetes, nerve pains, cataract formation, cancer treatment, blood sugar levels, skin discoloration, HIV, healing wounds, decreasing complications in Coronary Artery Bypass Graft (CABG) surgeries, and various other medical conditions will help the medical drugs application segment attain a significant alpha lipoic acid market value during the forecast period.
 

The other segment is projected to grow at 5.2% CAGR throughout the assessment period. The other segment includes personal care, pet care, and metal chelation. The product protects the body against toxic metal contaminants found in the environment and food supply.
 

Asia Pacific, chiefly led by China and India, accounted for 36.2% of the overall alpha lipoic acid market share in 2020. In addition, the region will experience the highest growth rate of 6.8% from 2020 to 2027. The escalating medical industry, massive population with diabetes, and improved consumer spending toward personal well-being (dietary supplements and personal care products) are some of the chief regional growth prospects. The prevalence of a large number of small, large, and medium scale product manufacturers in the region to meet high product demand is another factor for this massive industry share in Asia Pacific.