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The growing number of cancer patients globally has made retinoic acid a key ingredient/metabolite alternative.
HYDERABAD, TELANGANA, INDIA, November 29, 2022/einpresswire.com / -- retinoic acid market size is estimated to reach $277.2 million by 2027. Furthermore, it is poised to grow at a CAGR of 4.7% over the forecast period of 2022-2027. Retinoic acid is formed by the process of synthesis. The two most common enzymatic reactions can be reversible oxidation of retinol, while the other is an irreversible oxidative reaction to the acid. The retinoic acid receptor is a type of nuclear receptor, which gets activated by the all-trans-retinoic acid and 9-cis retinoic acid. Retinol is usually denoted under the category of vitamin A and is more commonly known as Vitamin A1. Vitamin A cannot be made from animals and is only available in plant foods. After consuming it, the retinol gets esterified and gets stored in the liver. Hence, if one aims to take on the maximum amounts of retinoic acid, they should consume the liver of the said animal. Retinoic acid is a low molecular weight-based compound and is highly soluble. Moreover, it is a light-sensitive compound. Hox genes have been actively researched, and more recently, the researchers have culminated that retinoic acid is an important regulator of pattern formation in vertebrates. More recently, researchers have culminated that retinol dehydrogenase can help in regulating the vitamin metabolism for visual function. Owing the use of retinoic acid in cancer therapeutics along with the deployment of the said ingredient in the cosmeceutical industry have been identified as the key factors driving the Retinoic Acid Industry forward in the projected period of 2022-2027.
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Key Takeaways
Geographically, North America's retinoic acid market held a dominant market share in the year 2021. It is owing to the growing number of cancer cases, in which the following supplement is actively given. Additionally, major researchers pertaining to manufacturing are concurrently happening in the following region. However, Asia-Pacific is set to offer lucrative growth opportunities to the marketers owing to the growth of CROs within the region, and an advanced outlook for developing better medical facilities.
The growing number of cancer cases has readily aided the market growth. However, problems owing to sustainable practices and sales of counterfeit drugs have halted the market growth.
A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Retinoic Acid Market Report.
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Segmental Analysis:
Retinoic Acid Market Segmentation Analysis- By Source: The retinoic acid market based on the source can be further segmented into plant and fruits & animal meat, or organs. The plant and fruits segment held a dominant market share in the year 2021. It is owing to the rising preference for using products that are“vegan” in nature. Moreover, apart from consuming vegan food, people have started to adopt products whose ingredients are also sourced from plant and fruit-based staples. Additionally, retinoic acid is found in products such as carrot, parsley, peaches, bell pepper, and many other varieties of such products. People have started growing aware of the harmful practices being adopted by animal husbandries or meat shops, thereby afflicting the overall quality of the meat being consumed. Moreover, the plant and fruit segment is estimated to be the fastest-growing, with a CAGR of 5.4% over the forecast period of 2022-2027.
Retinoic Acid Market Segmentation Analysis- By Application: The retinoic acid market based on the application can be further segmented into Cancer Treatments, Cosmetic Purposes, Supplemental Diet Preferences, and Others. Cosmetic purposes held a dominant market share in the year 2021. It is owing to its early approval and deep market penetration for over two decades. In 1996, FDA approved the use of topical retinoid solutions to reduce wrinkles and treat other acne-related issues. Moreover, product launches are actively made within the following application, as skincare without going for extensive surgeries has become a prevalent trend. Additionally, product manufacturers are using claims such as“natural,”“green,” and“sustainable-practices,” which have been readily accepted by the consumers. However, the Cancer treatment segment is estimated to be the fastest-growing, with a CAGR of 5.6% over the forecast period of 2022-2027. It is owing to the rising costs the government is spending to treat the causes of cancer.
Retinoic Acid Market Segmentation Analysis- By Geography: The Retinoic Acid Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America's retinoic acid held a dominant share of 35% as compared to the other counterparts in the year 2021. Acne affects around 40-50 million individuals living in the US; moreover, the numbers are increasing owing to the toxication of climate and UV exposure. As per NASA, UV exposure has been at its maximum for the last thirty years. Owing to such factors, retinoic acid was predominantly used as a skin-care solution product. However, Asia-Pacific is set to offer lucrative growth opportunities to marketers owing to the recent availability and product launches pertaining to the cosmeceutical industry. Wow-Science, The Derma Co., and various other brands have been gaining substantial traction and market penetration owing to the enhanced consumer preference.
Competitive landscape:
The top 5 players in the Retinoic Acid industry are:
1. LGM Pharma,
2. GF Health Products, Inc.,
3. GYMA Laboratories of America, Inc.,
4. Genemed Synthesis Inc.,
5. IMCoPharma a. s.,
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