Product ID: SQSG35I2043
Global Nutraceutical Excipient Market Size, Share, Growth Analysis, By Functionality(Fillers & Diluents, Binders), By Form(Dry, Liquid), By End Use(Prebiotics, Probiotics) - Industry Forecast 2024-2031
Report ID:
SQSG35I2043 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
95 |
Figures:
76
Global Nutraceutical Excipient Market Dynamics
Nutraceutical Excipient Market Driver
- The market is expanding owing to developments in nanotechnology and drug delivery systems that solve issues with medication toxicity. In order to employ nanotechnology as a drug delivery method (DDS), there are two main strategies. The first strategy involves shrinking the size of nutraceutical medicine crystals to ensure improved solubility and bioavailability, while the second strategy involves using a type of nano-carrier to transport active components effectively.
- The main reasons propelling the growth of the nutraceutical excipient market are the rise in demand for fortified food items, rise in consumer health consciousness, and increased emphasis on preventative care which is boosting investments in goods or solutions.
- The prevalence of chronic diseases among consumers, poor nutrition, and rising public knowledge of illnesses and preventative treatment are all factors that are accelerating the expansion of the market.
- Additionally, the market is favourably impacted by the rising emphasis on preventive healthcare, changing consumer lifestyles, rising disposable income, expansion of food processing applications, and rising healthcare expenditures. Additionally, the projection period will see profitable prospects for companies in the nutraceutical excipient market due to the growing use of excipients with multifunctional features.
Nutraceutical Excipient Market Restraint
- Excipients and nutraceutical goods require significant R&D expenditures, clinical studies, and authorization from relevant authorities in many nations and regions because they are clinically and chemically formulated items. Additionally, creating such goods requires long-term work because it involves formulation, market testing, and commercialization. High R&D expenditures do not, however, provide equivalent productivity gains since, even after a successful molecule discovery, it is exceedingly expensive to introduce a new nutraceutical product and/or novel excipient to factors. Such factors are expected to hinder growth of the market to some extent.
- Additionally, while one product or solution is being trialled and tested by another company, other market participants create alternative, less expensive solutions. This results in a loss of time, resources, and labour needed to advance a product's development, disrupting the entire process of creating new products. The possibility of failure is still very high, though. The price of demonstrating an excipient's efficacy through clinical studies is also rather high and can significantly impede the market development of novel excipients.
Global Nutraceutical Excipient Market Report Snapshots
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