Yahoo Movies Global Melatonin API Market is expected to grow at a compound annual growth rate (CAGR) 15.1% from 2023 to 2033 | Persistence Market Research
Market Study on Melatonin APIs: Market Benefiting from Increasing R&D Activities on Sleep Aids and Associated Products
Newyork, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The Global Melatonin API Market was worth about US$ 1.7 Billion in 2022, and it is expected to increase at a CAGR of close to 15.1% over the forecast period (2023 to 2033).
Melatonin has gained popularity as a dietary supplement, primarily used as a chronobiotic and for promoting sound sleep. Melatonin's capacity to function as a potent antioxidant, immune-stimulating agent, and mitochondrial regulator has become known because of research on cancer, PCOS, multiple sclerosis, Alzheimer's disease, fertility, and many other conditions over the past ten years, as well as the COVID-19 pandemic. The pandemic's focus on immune health and its lingering consequences on mental health and sleep disorders have made melatonin a prominent topic of media discussion and scientific interest, with the number of publications progressively increasing every year.
Exogenous melatonin has become one of the most well-liked over-the-counter and prescription sleep aids because of its function as a regulator in the circadian rhythm, including the promotion/regulation of sleep. Sales of melatonin in the United States more than doubled in the past 4 years due to the abundance of scientific discoveries and increased consumer and healthcare professional awareness of its use as a sleep aid and immune health supplement.
Pharmaceutical firms have expanded the amount of work they outsource for research, development, and production during the past 20 years. Small enterprises frequently employ a contract development and manufacturing organisation (CDMO) to produce their development products as they go through the pipeline. CDMOs are beneficial to pharmaceutical and biotech firms because they provide cost reductions over in-house manufacturing.
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To expand their customer base and increase market share to meet demand, melatonin API firms are concentrating on forming alliances with new businesses.
For instance, LGM pharma's distinctive combination of API sourcing and CDMO services is driving steadfast growth. For a newcomer to the pharmaceutical sector, LGM Pharma's work is being driven by a combination of technical proficiency and a partnership perspective.
Key Takeaways from Market Study
Synthetic source held a market share of 56.5% in 2022.
GMP grade of production held a share of 93.5% in the global melatonin API market in 2022.
By application, clinical use accounted for a market share of 83.2% in 2022.
Around 43% of the global market share, by region, was accounted for by North America in 2022.
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“Rising contract manufacturing and contract research activities for the production of novel API compounds will boost the overall market for melatonin APIs over the forecast period,” says an analyst of Persistence Market Research.
Market Competition
In response to rising consumer expectations and competitive challenges in the sleep supplement market, melatonin supplement manufacturers are putting in place a number of cost-cutting and efficiency-improving initiatives on a global scale. Due to weak purchasing power around the world, companies in the melatonin market are searching for less expensive APIs. This is due to a decline in medical spending in wealthy nations and an increase in research and development expenditures, which has opened up a number of options for low-cost producers.
To expand the lipid API community, Cayman Chemical acquired Matreya, LLC, a lipid biochemical firm with expertise in the synthesis, extraction, and purification of natural products, in June 2019.
Spectrum Chemical introduced new bioCERTIFIEDTM products in March 2022 to meet the demand for new treatments, therapies, and vaccines around the world.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the melatonin API market in its latest study, presenting a historical demand assessment of 2017 to 2022 and projections for 2023 to 2033.
The research study is based on the grade (GMP, non-GMP), application (clinical, research), and source (natural, synthetic, bio-synthetic), across seven key regions of the world.
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