Niacin and Niacinamide are revolutionary supplements that have gained traction for their ability to cut squamous cell and basal cell skin cancers by nearly 20% giving unprecedented rigor to its market. In addition, niacinamide based cosmetic and skin care formulations, on the back of their anti-ageing properties are gaining significant momentum. As a result, the market will nearly double to reach a valuation of US$ 1.6 Bn by 2027, as these attributes will help to position niacin and niacinamide as a miracle supplement in the near future. Fact.MR opines that with heightened uptake by drug and skin care product formulators, the global niacin and niacinamide market is projected to register a growth of over 5% over the forecast period (2019-2027).
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Niacin Realizing Potential as an Add-On Therapy for Dialysis Patients, Says Fact.MR
Majority of patients affected with end-stage renal disease are found to develop hyperphosphatemia. According to Fact.MR, in the near future, Niacin is most likely to become an inexpensive and a patient-convenient, add-on therapy for phosphorus management in dialysis patients. Fact.MR notes that there will be an upsurge in the demand for niacin and niacinamide over the next ten years fueled by its attributes of enhanced safety, and clinical benefits.
Key Takeaways from Niacin and Niacinamide Market:
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Niacin and Niacinamide Market: Segmentation
Fact.MR has studied the niacin and niacinamide market with detailed segmentation on the basis of form, end use, and region.
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Product Innovation Focused on Ensuring Lesser Side Effects
The niacin and niacinamide market is well matured, however it has plenty of room for improvement. Niacin drugs with advanced benefits and lesser side effects are expected to hit the shelves in the near future. Major players in the market including Jubilant Life Sciences Limited, Lonza Group AG, BASF SE, Koninklijke DSM N.V. etc. are focusing on innovative product launches and acquisitions for strengthening their hold in the global niacin and niacinamide market.
Domestic manufacturers in China along with other regional market participants find lucrative opportunities in the market, backed by government initiatives towards adoption of high-nutrition foods such as “2015–2020 Dietary Guidelines for Americans” by U.S. Department of Health and Human Services and the “Eat Right India” campaign that is touching the right nerve of consumers.
Read More Trending 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-Deliver-Propitious-Demand-during-the-Forecast-Period-until-2026-Says-Fact-MR.html
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