North America Omega-3 Ingredients for Pharmaceuticals Market, By Source (Marine and Plant), Type (Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA), Alpha-Linolenic Acid (ALA)), Forms (Liquid and Dry), Therapeutic Areas (Cardiovascular Diseases, Autoimmune Diseases, Bone & Joint Disorders, Neurological Disorders, Ophthalmic Disorders, Skin Health, Cancer, Others), Population Type (Adults and Children), Distribution Channel (Direct and Indirect), Country (U.S., Canada, Mexico) Industry Trends & Forecast to 2027
North America omega-3 ingredients for pharmaceuticals market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 11.1% in the forecast period of 2020 to 2027 and is expected to reach USD 660,002.30 thousand by 2027. Consumer awareness regarding the health benefits of omega-3 and growing demand of functional and supplement food, are the major drivers which propelled the demand of the market in the forecast period.
Omega-3 ingredients for pharmaceuticals comprises features such as increasing preferences towards certified food ingredients will impact in launching new product by the manufactures into the market which enhance its demand as well as rising burden of lifestyle diseases leads the demand of Omega-3 based products have enhanced the demand of omega-3 ingredients for pharmaceuticals. Currently various research studies are taking place which is expected to create a competitive advantage for manufacturers to develop new and innovative omega-3 ingredients for pharmaceuticals which is expected to provide various other opportunities in the omega-3 ingredients for pharmaceuticals market. However, high cost of product and negative consumer perception about the smell and taste of omega-3 ingredients expected to restraint the market growth in the forecast period
The omega-3 ingredients for pharmaceuticals market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal.
Omega-3 ingredients for pharmaceuticals market are segmented on the based on the basis of source, type, forms, therapeutic areas, population type, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of source, the omega-3 ingredients for pharmaceuticals market is segmented into marine and plant. In 2020, marine segment is expected to dominate the market due to presence of higher percentage of high quality Omega-3 ingredients in marine fishes. Moreover other marine organisms involving corals, worms and molluscs are also used for extraction of Omega-3 ingredients for various pharmaceutical applications.
- On the basis of type, the omega-3 ingredients for pharmaceuticals market is segmented into docosahexaenoic acid (DHA), eicosapentaenoic acid (EPA), alpha-linolenic acid (ALA). In 2020, docosahexaenoic acid (DHA) segment is dominating the market as it plays crucial role in brain development, and regulation of heart disease. Moreover it is present in abundant amount in salmon, whale blubber, as well as algae among others which acts as another factor responsible for its dominance.
- On the basis of forms, the omega-3 ingredients for pharmaceuticals market is segmented into dry and liquid. In 2020, the liquid segment is dominating the market as most of the Omega-3 ingredients are obtained in liquid form. Moreover, liquid form is preferred over other forms for several end user applications in pharmaceuticals industries.
- On the basis of therapeutic areas, the omega-3 ingredients for pharmaceuticals market is segmented into ophthalmic disorders, neurological disorders, cardiovascular diseases, autoimmune diseases, cancer, bone & joint disorders, skin health and others. In 2020, cardiovascular diseases segment is dominating the market because of the applications of Omega-3 fatty acids in decreasing triglycerides, lowering blood pressure slightly, decreasing risk of strokes, reducing blood clotting and reducing irregular heartbeats.
- On the basis of population type, the omega-3 ingredients for pharmaceuticals market is segmented into children and adults. In 2020, adults segment is dominating the market as adults are more prone to cardiovascular disease and prefers pharmaceutical products rich in Omega-3 ingredients in order to several problems causing severe cardiovascular disease.
- On the basis of distribution channel, the omega-3 ingredients for pharmaceuticals market is segmented into direct and indirect. In 2020, direct segment is dominating the market as it is the primary source of procurement by pharmaceutical companies. Moreover, pharmaceutical companies demands high quality ingredients and do not want to take risk on the same. Procurement of ingredients through direct channels is highly cost effective for healthcare providers as they are bought in bulk under terms of contract for service.
Omega-3 Ingredients for Pharmaceuticals Market Country Level Analysis
The omega-3 ingredients for pharmaceuticals market is analyzed and market size information is provided by source, type, forms, therapeutic areas, population type, distribution channel.
The countries covered in the omega-3 ingredients for pharmaceuticals market report are the U.S., Canada, Mexico.
The North America region is expected to grow with the highest growth rate in the forecast period of 2020 to 2027 because of increasing usage of pharmaceutical products containing omega-3 ingredients for prevention of cardiovascular disease.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Demand of Functional and Supplement Food and Rising Burden of Lifestyle Diseases Leads the Demand of Omega-3 Based Products Are Boosting the Market Growth of Omega-3 Ingredients for Pharmaceuticals.
Omega-3 ingredients for pharmaceuticals market also provides you with detailed market analysis for every country growth in omega-3 ingredients for pharmaceuticals industry with omega-3 ingredients for pharmaceuticals drugs and diagnostic tools sales, impact of advancement in the omega-3 ingredients for pharmaceuticals treatment technology and changes in regulatory scenarios with their support for the Omega-3 ingredients for pharmaceuticals market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Omega-3 Ingredients for Pharmaceuticals Market Share Analysis
Omega-3 ingredients for pharmaceuticals market competitive landscape provide details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to omega-3 ingredients for pharmaceuticals market.
The major companies which are dealing in the omega-3 ingredients for pharmaceuticals are Novasep, AbbVie Inc., KD Pharma Group, BASF SE, Corbion NV, DSM, AstraZeneca, GlaxoSmithKline plc., Fresenius Kabi AG, Croda International Plc, AMARIN CORPORATION, ANI Pharmaceuticals, Inc., Epax, Strides Pharma Science Limited, Camber Pharmaceuticals, Inc., Solutex, BASF SE among more. Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the Omega-3 ingredients for pharmaceuticals market.
- In April 2020, ANI Pharmaceuticals, Inc. launched omega-3-Acid Ethyl Esters Capsules USP to reduce triglyceride (TG) levels in adult patients with severe (greater than or equal to 500mg per dL) hypertriglyceridemia (HGT). The company has benefitted by increasing its product portfolio and attracting more customers to it.
- In May 2019, Croda International Plc has been working together on the innovation and development for the Open Innovation Programme with PhD scholar in research plan. The company has increased its global sale along with profit for the company.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company market in the omega-3 ingredients for pharmaceuticals market which also provides the benefit for organization to improve their offering for omega-3 ingredients for pharmaceuticals.
Customization Available: North America Omega-3 Ingredients for Pharmaceuticals Market
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