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In order to dissert the market scenario prevailing across the oncology small molecule drugs market sector, FactMR has evenly presented a comprehensive analysis report on niacin and niacinamide market to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the niacin and niacinamide market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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Wide Application of Niacin and Niacinamide in Treating Various Diseases
Niacin is an organic compound with the chemical formula C6H5NO2 and is a form of Vitamin B3. In humans, Niacin deficiency can cause pellagra. Hence, it is one of the most important nutrients for humans. Niacinamide, also known as Nicotinamide or nicotinic acid amide, is interchangeably used with niacin in the realm of essential supplements. Naturally, these are found in meat, beans, fish, eggs, yeast, and green vegetables. Niacin and niacinamide may be produced in different forms including powder, granular, and liquid. These chemicals are widely accepted for a number of end uses such as human nutrition, pharmaceuticals, animal nutrition, cosmeceuticals, and others. The global niacin and niacinamide market is expected to witness a CAGR of ~5% in terms of value over the forecast period (2019-2027). Focus of established players towards exploring the application area of niacin and niacinamide and dedicated strategies have been found as trending factors in the global niacin and niacinamide market.
Optimal Daily Doses of Niacin and Niacinamide (Vitamin B3) for Disease Prevention Will Fuel the Growth of its Market
Niacin and niacinamide are proven to be advantageous against various diseases including Pellagra, Melanoma, etc. Taking into account severe disorders such as Schizophrenia, these chemicals have provided noticeable results, and researchers are emphasizing on the intake of niacin and niacinamide to fight against Schizophrenia. Schizophrenia is characterized by the combination of perceptual changes such as hallucinations and thought disorders such as delusions. The primary cause of schizophrenia is biochemical imbalance. Schizophrenic toxin is an oxidized derivative of an adrenaline – Adrenochrome. To reduce Adrenochrome production, researchers across the globe are emphasizing on consuming niacinamide (vitamin B3). Previously employed for treating pellagra, a disease that is indistinguishable from schizophrenia, niacinamide comprises of relevant biochemical properties. Oxidized nicotinamide adenine dinucleotide (NAD) and reduced nicotinamide adenine dinucleotide + hydrogen (NADH) forms in a human body comprise of vitamin B3, a precursor of niacinamide. There is enough availability of NAD and NADH support reconversion of oxidized adrenaline to adrenaline. The process continues to occur, and it provides sufficient niacinamide coenzymes. Therefore, provision of vitamin B3 supplements such as niacinamide to all schizophrenic patients, including acute as well as chronic patients, is essential in maintaining a healthy life. The practice further holds potential to provide significant hope of a sustainable life among schizophrenic patients, thereby, necessitating adherence of clinicians to this safe and effective treatment. Such treatments will bring about a paradigm shift in niacin and niacinamide market.
Niacin Supplementation Complements Milk Production and Reduces Ketosis in Dairy Cattle
The application of niacin and niacinamide for enhancing animal nutrition accounts for ~60% of the market in terms of volume in 2018. Niacin and niacinamide have proven to be beneficial in terms of reducing “Ketosis” in dairy cattle, which help in higher milk production. Several high, milk-producing cattle exhibit borderline ketosis in early lactation. However, high production causes strain on the manifested energy metabolism in elevated blood ketone and reduced blood-glucose levels in these animals. Closely linked with improving energy metabolism, niacin and niacinamide (vitamin B3) represents several benefits for persistence production of milk in dairy cattle.
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Europe to Remain Prominent in Global Niacin and Niacinamide Market
Europe has been accounted to hold ~one fourth of the global niacin and niacinamide market revenue in 2018. Prime factors attributed to its prominence are increasing DCS incidences in dairy cattle, rising instance of childhood obesity, along with the presence of key market players and unhealthy food consumption patterns. Major portion of the European youths are witnessed to consume chocolates and carbonated or sugary drinks excessively, which led to significant increase in their body weights. Large portion of the population in the region is subjected to higher risk of obesity. Unhealthy consumption patterns and physical inactivity among individuals are some of the primary reasons behind obesity and their overweight characteristics. Hence, governments of major countries are taking efforts to push the adoption of high nutritional foods, which further drive the Europe niacin and niacinamide market growth. For reducing childhood obesity, sugar reduction programs, soft drinks industry levy, and stringent regulations on advertising junk food to children are some of the initiatives taken up by European governments. Additionally, countries in European region are facing downer cow syndrome (DCS) in dairy cattle, which results in low milk production due to reduced electrolyte metabolism. Governments, along with private institutions, are consistently focusing on spreading the awareness about benefits of niacin among dairy producers. Moreover, increasing healthcare expenditure, coupled with the presence of key players are factors that further strengthen the Europe niacin and niacinamide market. Some of the major players are Lonza Group AG, Koninklijke DSM N.V., BASF SE, Evonik Industries AG, and others.
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