The global inositol market is projected to grow at a CAGR of 8.23% during the forecast period (2020-2025).
- Inositol is a naturally occurring nutrient that is usually classified as a carbocyclic polyol. The most common form is sometimes referred to as myo-inositol. In the human body, it plays a major role in preventing the collection of fats in the liver, as well as promoting healthy hair growth.
- The growing number of people affected by diseases like PCOS, diabetes. and others, due to the adoption of poor lifestyle and increased consumption of junk food, is leading to a rise in the demand for drugs and supplements containing inositol, owing to its many curing properties as it is a member of the vitamin B complex.
Key Market Trends
Increasing Demand from Inositol in Pharmaceutical Industry
Increasing demand for products with inositol content among women suffering from polycystic ovarian syndrome is a major factor expected to drive the growth of the global inositol market. Moreover, increasing demand from the pharmaceutical sector for medicine preparation that aids in the treatment of neonatal respiratory distress syndrome in infants is another factor expected to witness a significant growth of the market during the forecast period. Furthermore, manufacturer's and researchers' approach towards increasing the use of inositol in cancer medicine preparation is another factor expected to further support the growth of the market during the forecast period.
North America Dominates the Global Market
North America is expected to continue registering significant demand for inositol during the forecast period. High prevalence of polycystic ovary syndrome, digestive disorders, and lifestyle-related diseases on account of the poor eating habits and high consumption of processed food, is expected to drive the demand for inositol supplements. The market in the Asia Pacific is expected to witness significant growth, owing to the growing pharmaceutical sector and increasing government spending on the healthcare sector. Also, the presence of regional players operating in the countries offering innovative products is expected to further boost the growth of the market in this region. Europe is expected to contribute significant revenue share in the global market.
Major players are in the inositol market like Taiho Pharmaceutical Co. Ltd launched Tiovita Drink Aibitasu Zero (third-class OTC drug), caffeine-free, sugar-free product containing 50g of inositol, under its Tiovita range, in Japan.Some of the major key players in inositol market, globally includes Dsm NV, Charles Bowman & Company, T.J. Clark & Company, Shandong Runde Biotechnology Co, among others.
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