L-Hydroxyphenylalanine Market Is Projected To Grow At A 3.6% CAGR, Reaching US$ 812.1 Million By 2034, Fact.MR

Dietary Supplement and Nutraceutical Business Key to L-Hydroxyphenylalanine Market Progress: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, July 4, 2024 /EINPresswire.com/ -- The global L-Hydroxyphenylalanine market has been calculated at a value of US$ 570.2 million for 2024, according to an updated industry research released by Fact.MR. The market has been forecasted to expand at 3.6% CAGR between 2024 and 2034.

L-Hydroxyphenylalanine is a man-made amino acid, which serves as a means of treating people with Parkinson’s disease and is also used in dietary supplements. Market growth is being driven by a high focus on the need to cure Parkinson’s disease with a higher level of information about this condition. However, reconstructed supply and competition from similar drugs is a cause of concern for market players. Its operations are guided by FDA approvals, EU’s Medical Devices Regulation, and WHO’s Good Manufacturing Practice (GMP) guidelines.

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Together, North America and East Asia account for around two-thirds of the global market share. L-Hydroxyphenylalanine application in dietary supplements accounts for close to 30% share of overall revenue, with pharmaceuticals following closely behind.

Key Takeaways from Market Study

The global L-Hydroxyphenylalanine market is projected to grow at a CAGR of 3.6% and reach US$ 812.1 million by the end of 2034.From 2024 to 2034, the market in North America is forecasted to expand at a CAGR of 3.9%, mainly as a result of increased demand for dietary supplements and nutraceuticals in the country.

Between 2019 and 2023, the global market created an absolute $ opportunity worth US$ 92.4 million.The U.S. market is expected to generate an absolute $ opportunity of US$ 76.8 million from 2024 to 2034.

The market in China is calculated to expand at 4.1% CAGR and reach US$ 137.7 million by 2034.Industry leaders are Sisco Research Laboratories Pvt. Ltd., Nippon Rika Co. Ltd., Formedium, Central Drug House Pvt. Ltd., Yangzhou Gami Biochem Co. Ltd., and Teva Pharmaceutical Industries Ltd.

“L-Hydroxyphenylalanine market to benefit from increased adoption of non-copyrighted drugs and widening uses in the treatment of Parkinson’s disease,” says a Fact.MR analyst.

Market Development

Leading companies in this market are Sisco Research Laboratories Pvt. Ltd., Nippon Rika Co. Ltd., Formedium, Central Drug House Pvt Ltd., Yangzhou Gami Biochem Co. Ltd., Teva Pharmaceutical Industries Ltd., Mylan N.V., Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Ltd., Apotex Inc., and Midas Pharma GmbH. The market is estimated to develop significantly due to rising demand for treatments for Parkinson's disease, growing use of generic drug versions, and strategic alliances between companies.

In Mar 2022, Teva Pharmaceuticals acquired Auspex Pharmaceuticals, acquiring access to Nourianz (copanlisex), the company's therapy for Parkinson's disease.

Key Companies Profiled are Sisco Research Laboratories Pvt. Ltd.; Nippon Rika Co. Ltd.; Formedium; Central Drug House Pvt Ltd; Yangzhou Gami Biochem Co. Ltd.; Teva Pharmaceutical Industries Ltd.; Mylan N.V.; Sun Pharmaceutical Industries Ltd.; Aurobindo Pharma Ltd.; Apotex Inc.; Midas Pharma GmbH; Other Prominent Players.

Rising Demand for Various Supplements

The United States market is projected to reach a value of US$ 158.6 million in 2024 and is expected to grow at a CAGR of 4%. This growth is estimated to create a total opportunity worth US$ 76.8 million between 2024 and 2034.

The usage of L-hydroxyphenylalanine is increasing significantly in the U.S. due to the rising demand for medications and dietary supplements. The preference for natural components is strong in the U.S. market, and L-hydroxyphenylalanine meets this demand effectively.

Companies such as NOW Foods, a well-known supplement manufacturer, offer L-hydroxyphenylalanine-based products to cater to the growing demand for both weight loss and muscle gain. Additionally, L-hydroxyphenylalanine is in high demand in the pharmaceutical sector for the production of drugs such as anorectics and antidepressants.

Competitive Landscape

The market is anticipated to grow substantially as a result of multiple companies forming strategic alliances, the growing usage of generic drugs, and the increased demand for Parkinson's disease therapies. Over the previous five years, market participants have grown their businesses using a combination of inorganic and organic growth tactics, which has greatly increased their market share.

United Therapeutics released Oleshkyn, a generic version of the Parkinson's disease drug duodopa, into the American market in January 2024.

True.In the recently released study, MR has included comprehensive details regarding the pricing points of major L-hydroxyphenylalanine producers positioned across regions, sales growth, production capacity, and speculative technological advancement.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global L-Hydroxyphenylalanine market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study reveals essential insights based on application (dietary supplements & nutraceuticals, pharmaceuticals, food & beverages, other applications), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).

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