July 28, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Glutathione Market.
It was estimated prior to this unanticipated outbreak that the Glutathione Market is likely to witness an impressive CAGR of 7.2% during the forecast period. The growth of the market is driven by the surge in supplement intakes across the globe. In addition, growing adoption of glutathione in chemotherapy along with its increasing usage by various food manufacturers to enhance the dietary benefits of food products, is expected to bolster the growth of the market over the forecast period.
Market Scope & Segmentation
Glutathione is an important antioxidant found in the human body that aids in the fight against free radicals. It also helps in the detoxification of chemicals produced naturally by the body, as well as in the detoxification of drugs and pollutants present in the environment.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the product type, the market is segmented as reduced glutathione and oxidized glutathione. Reduced glutathione is expected to account for the major share of the market during the forecast period. There is a continuous rise in the cases of cancer across the globe. Rapid growth in population, changes in lifestyle, increase in the number of smokers and tobacco use are the major factors responsible for the rising prevalence of cancer. Therefore, increasing burden of cancer around the globe is expected to drive the growth for reduced glutathione, owing to its ability to protect cancer patients from the harmful side effects of chemotherapy.
Based on the application type, the market is segmented as pharmaceutical, cosmetics, nutraceutical, and food. The pharmaceutical segment is anticipated to account for the major share of the market during the forecast period. The growth of the segment is supported by the incessant demand for manufacturing drugs, which is realized by pharmaceutical manufacturers. As a result of the product's high utilization in the manufacture of many pharmaceutical products, pharmaceutical manufacturers generate enormous growth opportunities for the glutathione market, driving the segment's growth over the forecast period.
In terms of regions, North America is estimated to be the leading region in the market during the forecast period. The region’s growth is owing to the presence of major pharmaceutical companies in the region such as Johnson & Johnson and Pfizer. In addition, the regional market for glutathione bears immense growth potential as the product is extensively used in the production of various pharmaceutical products. Furthermore, the region's market growth can be attributed to several benefits associated with the product such as tissue repair & building and immune system boosting. The product is also used to treat diseases such as asthma, cataracts, and anemia.
Key players operating in the global Glutathione market are-
Kyowa Hakko Bio Co., Ltd.
Nissor Pharmaceuticals Ltd.
Shenzhen GSH Bio-tech Co., Ltd
KOHJIN Life Sciences Co., Ltd
Anhui GSH Bio-Technology Co., Ltd
Kaiping Genuine Biochemical Pharmaceutical Co., Ltd
Herbo Nutra, Haihang Industry Co., Ltd.
Meteoric Biopharmaceuticals Pvt. Ltd.
Xi’an Fengzu Biological Technology Co., Ltd.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Glutathione analysis report discusses the following heads in great detail:
Market structure: Overview, industry life cycle analysis, supply chain analysis
COVID-19 Impact Assessment
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors