New York, United States , Feb. 27, 2023 (GLOBE NEWSWIRE) -- The Global Alpha Lipoic Acid Market Size to grow from USD 850.00 million in 2021 to USD 1364.53 million by 2030, at a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period. The demand for alpha lipoic acid will increase as usage increases in the healthcare industry. Strong dietary supplements and rising demand for anti-ageing creams are driving the expansion of the alpha lipoic acid market.
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The R- Lipoic segment to account for the largest market size during the forecast period
Based on the product, the Alpha Lipoic Acid Market is categorized into R- Lipoic and S-Lipoic. The R- Lipoic segment to account for the largest market size during the forecast period. Throughout the forecast period, the R- Lipoic segment is anticipated to maintain its leading position as R-lipoic acid has a wide range of uses, including the prevention of diabetes, improvement of glucose control and neuro disorders, weight loss, prevention of cataract development, prevention of brain damage following a stroke, removal of toxic metals from the body, improvement of skin texture, and reduction of migraine intensity, all of which must be effectively treated to raise health standards around the world.
The Medical drugs segment to hold a higher CAGR during the forecast period.
Based on the application, the Alpha Lipoic Acid Market is categorized Dietary supplements, Slimming products, medical drugs and Others. The Medical drugs segment to hold a higher CAGR during the forecast period. A significant alpha lipoic acid market value will be attained by the medical drugs application segment over the course of the forecast period due to rising product applications in the production of several drugs that can treat a number of fatal diseases, 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.
Browse 47 market data Tables and 57 Figures spread through 258 Pages and in-depth TOC on “Global Alpha Lipoic Acid Market Size, Share, and COVID-19 Impact Analysis By Product (R- Lipoic and S-Lipoic), By Application (Dietary supplements, Slimming products, Medical drugs and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030”. Get Detailed Report with Discount Price.
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North America to hold a higher CAGR during the forecast period.
The Global Alpha Lipoic Acid Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022. The demand for Alpha Lipoic Acid is being driven by the rising acceptance by the market. The market for Alpha Lipoic Acid was dominated by the Asia Pacific region this is explained by Some of the key regional development opportunities are the expanding medical sector, the sizable diabetic population, and increased consumer expenditure on personal care and nutritional supplements. Another reason for this enormous market share in Asia Pacific is the presence of numerous small, big, and medium-sized product producers in the area to satisfy strong product demand.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Alpha Lipoic Acid Market include Infa Group, Shandong Qidu Pharmaceutical, Qufu Maidesen Fine Chemical, Shanghai Shyndec (Modern) Pharmaceutical, Jiangsu Tohope Pharmaceutical, GeroNova Research, Source Naturals, AlzChem Group AG, Haihang Industry, HiMedia Laboratories, NOW Foods, Olon S.p.A, Rexall Sundown Inc., Source Naturals Inc., Suzhou Fushilai Pharmaceutical Co. Ltd., and Wellona Pharma.
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