Gamma-hydroxybutyric Acid Market: An Overview
Gamma-hydroxybutyric acid is used in manufacturing muscle building, fat reduction and pharmaceutical formulations. It is extensively used in the field of anesthesiology as a medical setting. It is also used to treat patients suffering from alcoholism, cataplexy and narcolepsy. On the downside of the gamma-hydroxybutyric acid applications, it’s usage as an illegal drug is prohibited in many regions. Tight control over the trade of gamma-hydroxybutyric acid pulls the market out of perfect competition. Barriers to market entry such as government control over trade and stringent documentations across the regions such as Europe and North America, discourages the new stakeholders. Rise in sleep disorders, alcoholic and depression patients is set to boost the demand for gamma-hydroxybutyric acid. Limited substitutes of medicines for the treatment of cataplexy and narcolepsy could also generate enough leverage for the market growth. Global gamma-hydroxybutyric acid market is forecast to witness absolute growth at a single digit CAGR between 2020 and 2030.
Demand Surge from Pharmaceuticals is set to boost the Market
Pharmaceuticals and sports supplement are the two main applications of the gamma-hydroxybutyric acid market. Of which, pharmaceuticals has found attractive share in the global gamma-hydroxybutyric acid market owing to its utilization in exceptional amounts. Pharmaceutical segment is set to grow at a faster pace over the forecast period of 2020-2030. Followed by pharmaceuticals, sports supplement is set to grow at a nominal pace owing to the rising regulations over its utilization in supplements. Pharmaceuticals is set to loose BPS over the forecast period.
COVID-19 to shatter the Gamma-hydroxybutyric Acid Market
COVID-19 or Novel corona virus has not only shattered the movement of the people but also the production and trade of the major products in the market including gamma-hydroxybutyric acid products. Increased production of essentials and force majeure of inessential products has disrupted the gamma-hydroxybutyric acid market. Demand shrink owing to the lockdown across the regions and shattered supply owing to the cease of trade of raw materials required to manufacture of gamma-hydroxybutyric acid. The market is set to remain the same till 2022 owing to the inflation across the regions. Gamma-hydroxybutyric acid prices are controlled by the state in most of the regions and prices are set to be least impacted by the demand fluctuations. Demand declination over the period of FY2020-FY2022 is set to be observed owing to controlled production of inessential drugs as patients’ population in the group of cataplexy and narcolepsy are low compared to the COVID-19 patients. Therefore pharmaceutical companies priorities diversify and try to grab the market potential will lead to shrink in inessential drugs such as gamma-hydroxybutyric acid formulated medicines.
Segmentation analysis of Gamma-hydroxybutyric Acid Market
The global gamma-hydroxybutyric acid market is bifurcated into two major segments: application and region.
On the basis of application, gamma-hydroxybutyric acid market has been segmented as follows:
- Sports Supplement
On the basis of geographic regions, Gamma-hydroxybutyric acid market is segmented as
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Gamma-hydroxybutyric Acid Market: Regional Outlook
From regional perspective, North America holds largest market share in global gamma-hydroxybutyric acid market. Growing pharmaceutical production in the region especially neurological drug manufacturing has provided immense potential for the region to provide thrust to gamma-hydroxybutyric acid market. Moreover, growing healthcare investments also portray an image of investment in neurological medicines. Top players in gamma-hydroxybutyric acid market such as Patheon is positioned in this region. Followed by North America, Europe accounts for more than quarter of the demand share of gamma-hydroxybutyric acid. Growing awareness of neuro-medicine in the region is set to bolster the gamma-hydroxybutyric acid demand over the forecast period. Followed by Europe, East Asia accounts for less than quarter of the demand share of gamma-hydroxybutyric acid. Region portrays a growing potential owing to lesser stringent policies compared to North America and Europe. South Asia & Oceania, Latin America and Middle East & Africa account for nominal share owing to the limited utilization of gamma-hydroxybutyric acid in these region.
In the perspective of the prices, East Asia leads the market followed by South Asia & Oceania. High labor cost and raw material procurement costs in North America & Europe are set to provide major set-back for the expansion of the gamma-hydroxybutyric acid market from supply side.
Gamma-hydroxybutyric Acid Market: Key Players
Key players in global gamma-hydroxybutyric acid market are Jazz Pharmaceuticals, Patheon, Shanghai Kangxin, Anhui Integrity Biopharm and others. Of the mentioned players, Jazz Pharmaceuticals sells gamma-hydroxybutyric acid under the trade name of Xyrem. Xyrem got its FDA approval in 2018 to treat narcolepsy with cataplexy patients.
Global gamma-hydroxybutyric acid market is slightly consolidated in nature with presence of limited international players. Key players in market are focused towards expansions through research & development. These players aim to provide a scattering range of gamma-hydroxybutyric acid suited for different purposes.
The research report presents a comprehensive assessment of the gamma-hydroxybutyric acid market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The Gamma-hydroxybutyric Acid Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Gamma-hydroxybutyric Acid Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Russia, Poland & CIS)
- East Asia (China, Japan, South Korea)
- South Asia (India, Malaysia, Indonesia, Australia, New Zealand & Thailand)
- Middle East & Africa (GCC Countries, South Africa, Turkey)
The Gamma-hydroxybutyric acid report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Gamma-hydroxybutyric acid report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Gamma-hydroxybutyric acid report also maps the qualitative impact of various market factors on market segments and geographies.
The Gamma-hydroxybutyric Acid Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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