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North America Omega-3 Ingredients for Pharmaceuticals Market – Industry Trends and Forecast to 2030

Pharmaceutical

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North America Omega-3 Ingredients for Pharmaceuticals Market – Industry Trends and Forecast to 2030

  • Pharmaceutical
  • Upcoming Report
  • Feb 2023
  • North America
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

North America Omega-3 Ingredients for Pharmaceuticals Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 381.20 USD million
Diagram Market Size (Forecast Year) USD 917.20 USD million
Diagram CAGR %

Major Markets Players

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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, Indirect) – Industry Trends and Forecast to 2030.

North America Omega-3 Ingredients for Pharmaceuticals Market

North America Omega-3 Ingredients for Pharmaceuticals Market Analysis and Size

Omega-3 ingredients are gaining prominence and becoming a part of the consumer’s daily diet of the people in this region. Presently, numerous research studies are taking place which is anticipated to create a competitive advantage for several manufacturers to develop new and innovative omega-3 ingredients for pharmaceuticals. An estimated 70% of Americans use the internet to get health information about the omega-3 ingredients which in turn, has facilitated the rise in the demand for omega-3 ingredients.  

Data Bridge Market Research analyses a growth rate in the omega-3 ingredients for pharmaceuticals market in the forecast period 2023-2030. The expected CAGR of omega-3 ingredients for pharmaceuticals market is tend to be around 11.6% in the mentioned forecast period. The market is valued at USD 381.2 million in 2022, and it would grow upto USD 917.2 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

North America Omega-3 Ingredients for Pharmaceuticals Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

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, Indirect)

Countries Covered

U.S., Canada and Mexico in North America

Market Players Covered

Avestia Pharma (India), Novasep (France), AbbVie Inc. (U.S.), KD Pharma Group (Japan), BASF SE (Germany), Corbion (Netherlands), DSM (Netherlands), AstraZeneca (U.K.), GSK plc. (U.K.), Fresenius Kabi AG (Germany), Croda International Plc (U.S.), AMARIN CORPORATION (Ireland), ANI Pharmaceuticals, Inc. (U.S.), Epax (Norway), Strides Pharma Science Limited (India), Pharma Marine AS (Norway), KinOmega Biopharm Inc. (China), Camber Pharmaceuticals, Inc. (U.S.)

Market Opportunities

  • Rising Research Activities
  • Huge growth in concentrated forms of algal omega-3 ingredients

Market Definition

Omega 3 ingredients are naturally occurring polyunsaturated fatty acids and nutrients that are essential for optimal human health. There are three kinds of omega 3 ingredients, namely, eicosapentaenoic acid (EPA), alpha-linoleic acid (ALA), and docosahexaenoic acid (DHA). EPA and DHA are mostly extracted from fish and ALA is mainly extracted from plants sources such as seeds and nuts.

North America Omega-3 Ingredients for Pharmaceuticals Market Dynamics

Drivers

  • Increasing Demand for Dietary Supplements

The omega-3 demand is increasing in the health supplement segment, since it provides the same benefit as that of fish oil, but with no off-odour or taste. Omega-3 is considered to be more sustainable and bioavailable. The algae omega-3 ingredient market is boosted by the demand for dietary supplement products. The increased use of premium-grade omega-3 for infant formula is another primary factor enhancing the market, as algae omega-3 has proved to be of superior quality. Thus, this factor increases the growth of the market.  

  • Increasing Demand of Docosahexaenoic acid (DHA)

Docosahexaenoic acid (DHA) type is in higher demand due to the increasing utilization of the product in infant formulas for the betterment of an infant's overall health. In the human diet, DHA is the most vital and abundant omega-3 fatty acid, which helps in maintaining the overall health of the human body. DHA is a main component for the development and maturity of an infant's brain and eyesight. Furthermore, it is extensively used in nutritional supplements and fortified foods. It is also widely used in treating dementia, coronary artery disease (CAD), attention deficit hyperactivity disorder, and Type 2 diabetes. DHA helped in increasing f longevity have also resulted in its use in elderly nutrition products. Thus, this factor increases the growth of the market.  

Opportunities

  • Huge growth in concentrated forms of algal omega-3 ingredients

New ultra-high concentrated omega-3 ingredients offer several benefits to consumers willing to pay a higher premium price for high-end products. Several suppliers are investing in the production of high concentrated algal omega-3 products, estimating increased demand to drive the sales. The market for concentrates has also been increasing, as more consumers become aware of the benefits of algal omega-3 and seek the benefits of higher doses. Several major companies are involved in omega-3 manufacturing that has started to strategically capitalize the existing business expansion opportunity.

  • Rising Research Activities

Numerous research studies have developed a link between consumption of fatty fish and lowering of coronary heart diseases. For instance, fish oils are widely used as a supplement to balance the required dietary intake of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Furthermore, fish oil is normally recommended as a supplement product for people who suffer from myocardial infarction by the American Heart Association, World Health Organization (WHO), the National Heart Foundation of Australia and National Health and Medical Research Council (NHMRC). Thus, this factor helps to create much opportunities for the growth of the market.

Restraints/Challenges

  • Difficulty in Inconsistent Guidelines

The lack of inconsistent standards and guidelines in the global EPA/DHA (Omega3) ingredients market is also one of the major factors that limit the market growth. Regulations vary from country to country with regards to the use of EPA / DHA (Omega 3) and its major inclusion under the food category. Also, lack of regulations cause misuse of claims indicating health benefits. Thus, this factor hamper the market growth.

  • Increasing Negative Consumer Perception About omega-3 ingredients

Negative consumer perception associated with the smell and taste of omega-3 ingredients is also anticipated to limit the growth of the market. These unstable fatty acids can damage through enzymatic or chemical oxidation to form compounds that give foods a fishy smell. Additionally, fresh fish oil has no fishy taste or smell, just like fresh fish. People feel hesitant to adopt for omega-3 ingredients. Thus, this hampers the market growth.

This omega-3 ingredients for pharmaceuticals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the omega-3 ingredients for pharmaceuticals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

  • In 2020, ANI Pharmaceuticals, Inc. launched omega-3-Acid Ethyl Esters Capsules USP to decrease triglyceride (TG) levels in adult patients with serious (greater than or equal to 500mg per dL) hypertriglyceridemia (HGT). The company has benefitted by surging its product portfolio and attracting more customers to it.
  • In 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 surged its global sale combined with profit for the company.

North America Omega-3 Ingredients for Pharmaceuticals Market Scope

The omega-3 ingredients for pharmaceuticals market is segmented on the basis of source, type, forms, therapeutic areas, population type, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

  • Marine
  • Plant

Type

Forms

  • Liquid
  • Dry

Therapeutic Areas

  • Cardiovascular Diseases
  • Autoimmune Diseases
  • Bone & Joint Disorders
  • Neurological Disorders
  • Ophthalmic Disorders
  • Skin Health
  • Cancer
  • Others

Population Type

  • Adults
  • Children

Distribution Channel

  • Direct
  • Indirect

Omega-3 Ingredients for Pharmaceuticals Market Regional Analysis/Insights

The omega-3 ingredients for pharmaceuticals market is analyzed and market size insights and trends are provided by source, type, forms, therapeutic areas, population type, and distribution channel as referenced above.

The major countries covered in the omega-3 ingredients for pharmaceuticals market report are U.S., Canada and Mexico in North America.

North America has been witnessing a positive growth for Omega-3 ingredients for pharmaceuticals market throughout the forecasted period because of growing usage of pharmaceutical products that contains omega-3 ingredients for prevention of cardiovascular disease. The increasing demand for healthy food in North America because of the growing awareness increased foodborne diseases and increasing food industry is anticipated to drive the growth of this North America market during the forecast period.

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. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and North America Omega-3 Ingredients for Pharmaceuticals Market Share Analysis

The omega-3 ingredients for pharmaceuticals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to omega-3 ingredients for pharmaceuticals market

Key players operating in the omega-3 ingredients for pharmaceuticals market include:

  • Avestia Pharma (India)
  • Novasep (France)
  • AbbVie Inc. (U.S.)
  • KD Pharma Group (Japan)
  • BASF SE (Germany)
  • Corbion (Netherlands)
  • DSM (Netherlands)
  • AstraZeneca (U.K.)
  • GSK plc. (U.K.)
  • Fresenius Kabi AG (Germany)
  • Croda International Plc (U.S.)
  • AMARIN CORPORATION (Ireland)
  • ANI Pharmaceuticals, Inc. (U.S.)
  • Epax (Norway)
  • Strides Pharma Science Limited (India)
  • Pharma Marine AS (Norway)
  • KinOmega Biopharm Inc. (China)
  • Camber Pharmaceuticals, Inc. (U.S.)


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FREQUENTLY ASK QUESTIONS

The North America Omega-3 Ingredients for Pharmaceuticals Market is projected to grow at a CAGR of 11.6% during the forecast period by 2030.
The future market value of the North America Omega-3 Ingredients for Pharmaceuticals Market is expected to reach USD 917.2 million by 2030.
The major players in the North America Omega-3 Ingredients for Pharmaceuticals Market are Avestia Pharma (India), Novasep (France), AbbVie Inc. (U.S.), KD Pharma Group (Japan), BASF SE (Germany), Corbion (Netherlands), DSM (Netherlands), AstraZeneca (U.K.), GSK plc. (U.K.), etc.
The countries covered in the North America Omega-3 Ingredients for Pharmaceuticals Market are U.S., Canada and Mexico in North America
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