Nutraceuticals Industry to Latch onto Relatively Greater Value Share in CoQ10 Ma
Posted by Arslan on February 8th, 2019
Increasing penetration of coenzyme Q10 in cancer and Huntington’s disease treatment is creating new growth avenues for stakeholders. In addition to traditional applications in treating cognitive illnesses and cardiovascular diseases, demand for coenzyme Q10 is also complemented by growing adoption in cosmetics industry. The outlook on the CoQ10 market remains positive, with a 9.1% volume CAGR projected for the period between 2018 and 2028. Revenues from global sales of CoQ10 will reach approximately US$ 1,500 Mn by 2028-end.
Several Diseases have been linked with low CoQ10 levels, which include fibromyalgia, and aftermath of heart attacks (also called as post-myocardial infarction). Parkinson’s disease, migraines, Prader-Willi syndrome, and depression account for CoQ10 deficiency. Currently, over 300 Mn people worldwide are affected by depression according to the WHO.
Additionally, the Parkinson’s Foundation estimates more than 10 Mn individuals suffer from Parkinson’s disease across the globe at present. The National Institutes of Health (NIH) recommends coenzyme Q10 supplementation for patients with Parkinson’s disease. In addition, several studies have depicted reduction in depression and fatigue by CoQ10 supplementation. High prevalence of such diseases is a key demand determinant for CoQ10.
CoQ10 for Minimizing Outcomes of Specific Metabolic Diseases
An endogenously produced compound, coenzyme Q10 is found in human cells, and plays an imperative role in production of energy by serving as mobile electron carrier in electron transport chain within mitochondria. CoQ10 also acts as excellent antioxidant outside mitochondria by working synergistically with various other antioxidants such as vitamin E. Widely available as an OTC supplement, coenzyme Q10 has gained momentum in light of its therapeutic effectiveness in minimizing outcomes of specific metabolic disorders, namely, cancer, neurodegenerative disease, diabetes, and cardiovascular diseases.
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APEJ Continues to Spearhead CoQ10 Market in Terms of Value Sales
Led by emergence of SMEs coupled with increased usage of cosmetics in China and India, Asia-Pacific excluding Japan (APEJ) is foreseen to lead the global coenzyme Q10 market in terms of value sales in the near future. Favorable regulatory policies along with promising application outlook in personal care products will favor the CoQ10 market in APEJ.
Nutraceuticals Industry to Latch onto Relatively Greater Value Share in CoQ10 Market
Comparatively greater value share has been envisaged for the nutraceuticals industry in the global CoQ10 market. High demand in this industrial sector can be attributed to growing adoption of nutraceutical supplements containing CoQ10 as an effective protection against heart diseases. Pharmaceuticals industry will also hold a major value share in the global coenzyme Q10 market, driven by its soaring application scope in treatment of cognitive diseases and eye care.
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