Citicoline Market to surpass US$ 500 Mn In Response to Rising Incidence of Alzheimer’s Disease and Glaucoma in Geriatric Population: Fact.MR
27 Oct 2021
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Citicoline Market Players are Capitalizing on Demand for Neuroprotective Drugs as Treatment of Choice for Neurological Disorders
The citicoline market survey offers compelling insights into key factors impacting growth across key segments in terms of form, distribution channel, and indication. It also highlights strategies adopted by vendors to increase sales in citicoline market
Fact.MR – A Market Research and Competitive Intelligence Provider: The global citicoline market registered 8% year on year growth in 2018, which is expected to rise further by 2028. Rising cases of glaucoma and retinal neurodegradation among geriatric population will remain a chief growth driver. Fact.MR in its latest study has predicted impressive growth on card for the market during its forecast period of 2018 and 2028.
Increasing demand for nutraceuticals to improve cognitive functions due to adverse effects of long working hours and sleep deficiency will boost the market. Citicoline is increasingly finding usage in nutraceutical production owing to its neuroprotective properties and negligible toxicity.
They are known to induce phospholipids in the brain required for proper functioning of neural pathways. Increasing cases of dementia, Alzheimer’s, and other neurological ailments are encouraging governments to support and increase investment in pharmaceutical sector for research and development activities.
Extensive research to study citicoline’s efficacy in preventing and providing potential recovery from cognitive dysfunction is expected to provide growth opportunities for market players over the coming years.
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Healthcare professionals are extensively researching on the usage of citicoline in preventing neurodegenerative deterioration of retina, which also will create growth opportunities for market. Similarly, role of citicoline in preventing conditions such as amblyopia, glaucoma, and neurodegradation are being investigated too.
Researches studying the effects of citicoline application in the treatment of addictive disorders are expected to boost the market. Various studies suggest that citicoline has substantial influence on acetylcholine, glutamate, and dopamine. These are known to have potential to treat various symptoms of addiction disorders such as impaired cognitive functioning, withdrawal symptoms, and craving.
On the back of these factors, the market is poised to expand at an impressive 8% CAGR through 2028.
“Key players in the market are collaborating with pharmaceutical and healthcare industry to increase research on efficacy of citicoline with other chemicals. Players are thus, heavily investing in R&D of drugs based on diverse citicoline combinations for capitalizing on growing demand of neuroprotective drugs,” says the Fact.MR analyst.
Key Takeaways
The U.S. is expected to lead the growth across North America due to the high presence of leading players.
Canada is likely to witness growth during forecast period owing to the rising investment in healthcare infrastructure and research activities on studying the potential of citicoline.
China will lead Asia Pacific market on the back of rising cases of glaucoma and increasing research activities for the development of nutraceutical.
Germany will dominate Europe’s citicoline market owing to the developed healthcare infrastructure and numerous research and development activities on neuroprotective drugs.
Growth Drivers
Hectic lifestyle, long working hours, and increasing are causing various health concerns, which in turn is improving the demand for nutraceutical. This will create growth opportunities for citicoline market through the forecast period.
Government initiatives implemented to provide extended support for research and development of drugs to address Alzheimer’s and other neurological ailments will generate lucrative revenue for players operating in the global citicoline market.
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Competitive Landscape
Presence of numerous leading players has led to intense competition in the market. Key players are adopting various growth strategies such as mergers, acquisitions, partnerships, collaborations, and product development.
For instance, Kyowa Hakko Bio Co., Ltd., launched two novel citicoline powdered supplements and citicoline capsules in 2018 to capitalize rising demand for citicoline in functional foods.
Some of the key players operating in the global citicoline market as profiled by Fact.MR are:
Alfa Aesar
Cepham, Inc.
EZ Melts
HL-Pharma US
Double Wood LLC
Instas Pharmaceuticals Ltd.
Jarrow Formulas, Inc.
Kimia Biosciences
Rakshit Drugs Pvt., Ltd.,
Relentless Improvement LLC
Swanson
Wellona Pharma Private Limited
Healthy Origins
Biochemix Healthcare Pvt., Ltd.
Merck KGaA
Grupo Ferrer Internacional, S.A.
Piping Rock Health Products, LLC
NuerAxon Pharma Inc.
More Insights on the Citicoline Market
Fact.MR provides an unbiased analysis of the citicoline market presenting historical demand data (2013-2017) and forecast statistics for the period from 2018 to 2028. The study divulges into compelling insights on the citicoline market with detailed segmentation on the basis of:
Form
Tablet
Powder
Capsule
Distribution Channel
Hospital pharmacy
Online channel
Retail pharmacy
Other channels
By Indication
Alzheimer’s Disease
Dementia
Head Trauma Cases
Cerebral Ischemic Stroke
Cognitive Impairments
Attention Deficit-Hyperactive Disorder (ADHD)
Glaucoma
Others
Regions
North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA
Key Questions Covered in the Citicoline Market Report
The report offers detailed insights into citicoline demand outlook for 2021-2031
The market study also highlights projected sales growth for citicoline market between 2021 and 2031
Citicoline market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends, evaluation of current market size, and technological advancements within the industry
Citicoline market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
Explore Fact.MR’s Coverage on the Healthcare Domain –
Rare Neurodegenerative Disease Treatment Market- Market participants are increasing their investments in medication development for the treatment of neurodegenerative diseases, and patients are becoming more aware of the various therapeutic choices available. In the long run, the rise in medical tourism and investments in modernizing healthcare infrastructure across Asia Pacific's developing countries are projected to benefit the rare neurodegenerative disease treatment market. Long-term growth will be aided by advances in medical technology for the diagnosis and treatment of various ailments.
Glaucoma Therapeutics Market- A number of technical breakthroughs in drug delivery are expected to expand the spectrum of glaucoma therapeutics. Implantable extended-release devices, polymer-based contact lenses, and intraocular delivery technologies are among the innovations. These approaches are expected to improve glaucoma patients' quality of life and provide more effective medications for preserving eyesight in glaucoma patients. Prostaglandins are expected to find widespread usage for treating glaucoma among patients.
Cognitive and Memory Enhancer Drugs Market- Supplements or simply medications that boost cognitive functioning improvement are known as cognitive and memory enhancer drugs. In the coming years, rising awareness of the benefits of cognitive and memory enhancer medications for improving mental and physical performance will increase demand. Nootropics are a new class of brain enhancer medications that are designed to give your brain an extra push. The increased popularity of nootropics, also known as smart drugs, is likely to boost the market for cognitive and memory enhancer drugs in the coming years.
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Source: Fact.MR
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