Rising geriatric population and prohibition of Ritalin and Adderall from competitive sports will boost citicoline market sales.
Rising geriatric population and prohibition of Ritalin and Adderall from competitive sports will boost citicoline market sales.
Fact.MR, Rockville MD: The citicoline market is forecast to expand at 8.5% CAGR throughout the forecast period 2018-2028. As per a study by Fact MR, aggressive clinical trials towards the implementation of citicoline in association with other drugs for developing the memory boosting tablets and supplements is a leading factors influencing the market growth. Extensive research on effect of citicoline on cognitive and mental functions and its potential use in treatment of brain injuries will intensify market demand.
According to a report published by Population Reference Bureau, geriatric population will account 16% of global population by 2050. The positive effects of citicoline on cognitive abilities among old people will provide favorable environment for citicoline market growth. Development in application of citicoline to improve its effectiveness will promote the market demand.
“Necessity of developing acute therapeutic treatment for ischemic stroke patients and positive effects of citicoline on motor and cognitive impairment have made citicoline a promising treatment option further augmenting the market demands”, said a lead analyst at Fact.MR.
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Citicoline market – Key Findings
- Global citicoline market is forecast to cross the valuation of US $550 Mn by the end of 2019.
- North America is predicted to cover major of market shares owing to accessibility of modern medical and healthcare infrastructure.
- Growing prevalence of Alzheimer’s disease and dementia in Latin America will lead to higher citicoline market growth throughout the forecast period
- Increasing research towards the application of citicoline for treatment of additive disorders like withdrawal symptoms and cravings will provide a lucrative opportunity for market growth.
- Special emphasis is given by market players on development of neuroprotective drugs using different citicoline combinations to fulfill the rising demand of neuroprotective drugs
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Citicoline market – Key Driving Factors
- Escalating demands for nutraceuticals to enhance motor and cognitive abilities and increased usage of citicoline in manufacturing of such nutraceutials will intensify the market demand.
- Rising government investment towards development of neurological treatments and drugs and growing effectiveness of citicoline on improving neural pathways functioning will propel the market growth.
- Growing research on studying citicoline’s efficiency in treatment of visual incapabilities and neurodegradation will accentuate the citicoline market growth.
Citicoline market – Key Restraints
- Long term side effects of citicoline on human body are expected to restrict the market demand.
- Development of alternate and safer medicines for treatment of neurological diseases will deteriorate the market growth.
- Availability of cheaper medicinal alternatives to citicoline infused drugs is negatively affecting the citicoline market growth.
Citicoline market – Covid-19 Impact
COVID-19 pandemic slowed the world healthcare economy. It negatively affected citicoline market. Disruption of supply chain due to lockdown was a key deterrent in market growth. Reduced research on citicoline and inclination towards development of vaccine slowed the market growth. With gradual relaxation in restrictions the market is expected to recover at a slow pace.
Competitive Landscape
Some of the leading citicoline market players are Relentless Improvement LLC, Kimia Biosciences, NuerAxon Pharma Inc., Merck KGaA, Grupo Ferrer Internacional, S.A., Alfa Aesar, Jarrow Formulas, Wellona Pharma Private Limited, Swanson, Healthy Origins, Instas Pharmaceuticals Ltd., Biochemix Healthcare Pvt., Ltd., Cepham, Inc., HL-Pharma US, Rakshit Drugs Pvt., Ltd., Piping Rock Health Products, LLC, EZ Melts, and Double Wood LLC, Inc. In order to counter the increasing demands for nutraceuticals, in 2018, Kyowa Hakko Bio Co. Ltd launched two new citicoline powdered supplements and citicoline capsules.
Their main focus is developing treatment for brain ischemia and schizophrenia. A research concluded that the combination of risperidone with citicoline helps in relieving the symptoms of schizophrenia. A study published in 2018 suggested that combination of citicoline and docosahexaenoic acid is effective in boosting recovery after brain ischemia.
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More Insights on the Citicoline market
In its latest report, Fact.MR offers unbiased analysis of the citicoline market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of form (Powder, tablet, capsule), indication (Alzheimer’s disease, Dementia, head trauma cases, ischemia, Glaucoma) and distribution channel (hospital pharmacies, clinics, retail pharmacies, online pharmacies, specialty stores) across six regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, Middle East & Africa).
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