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SEATTLE, WA, UNITED STATES, December 7, 2021 /EINPresswire.com / -- Melatonin is a hormone produced naturally in the body that aids in the regulation of the sleep-wake cycle. It is synthesised in a lab and used to cure insomnia for a limited period of time. It possesses antioxidant qualities, allowing it to be used in pharmaceuticals, food and beverage products, and dietary supplements.
The pharmaceutical industry's increasing demand for melatonin is likely to boost market growth. It is utilised in the production of medications that are used to treat sleep problems such as insomnia. It's also utilised for its sedative and soothing properties. Melatonin's market is also expanding as the pharmaceutical business expands in response to rising demand for pharmaceutical products. As a result, the increased prevalence of sleep-related disorders is driving melatonin market growth over the forecast period.
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Key companies covered as a part of this study Natrol Inc., Neurim Pharmaceuticals Ltd., Pulse Pharmaceuticals Pvt. Ltd., Flynn Pharma Ltd., Fidia Farmaceutici S.P.A., Aspen Pharmacare Holdings Ltd., Schiff Nutrition International Inc., Solal Technologies (Pty) Ltd., Rexall Sundown, Inc., and Bebida Beverage Co.
Opportunities in the Market
In the near future, a rising number of manufacturers are expected to provide melatonin-based formulations for treating sleeping disorders, resulting in significant potential opportunities. For example, the Medicines and Healthcare Products Regulatory Agency (MHRA) granted Clinigen Group marketing authorizations for Melatonin 1mg/ml oral solution and Melatonin 3mg film-coated tablets in June 2019. Both of these medications are used to treat jet lag, a physiological disorder that affects adults.
Key Takeaways/Market Trends
A contemporary trend is the increase in the number of nutritional supplements on the market. Another key development in the market is the increase in clinical trials in the field of melatonin supplements for lowering chemotherapy and increasing the survival period of cancer patients. In addition, a growing number of working women and rising consumer disposable money are expected to boost the melatonin industry forward.
Global Melatonin Market- Impact of Coronavirus (Covid-19) Pandemic
Coronavirus (Covid-19) has majorly impacted the food & beverages industry and in turn has changed the dynamics of entire ecosystem including raw material suppliers, supplying food ingredients. Increasing spread of Covid-19 has mandated the manufacturers to deploy precautionary measures in their facilities including labors and plant controllers screening and monitoring, and sanitizing the facilities. The melatonin industry is expected to witness a significant growth during the pandemic period owing to rising demand for the sleeping remedies. It is estimated that the sales of sleeping remedies increase by 17.9% in 2020. Thereby, expected to boost the market growth.
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