Enoxolone Market: Introduction
Enoxolone (glycyrrhetic acid) is a pentacyclic triterpenoid aglycone metabolite of glycyrrhizin and one of the primary bioactive compounds of licorice. It is widely used in medicine for the treatment of chronic dermatitis, peptic ulcer, and in cosmetics. Moreover, it possesses additional pharmacological properties such as antibacterial, antifungal, antiprotozoal, and antiviral. Once enoxolone is administered, it inhibits the metabolism of prostaglandins by both prostaglandin reductase and 15-hydroxyprostaglandin dehydrogenase [NAD(+)].
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Key Drivers and Opportunities of Global Enoxolone Market
The number of people with chronic diseases is increasing owing to change in lifestyle and unhealthy dietary habits. This in turn boosts the growth of the global enoxolone market. For instance, annually, 4.6 million cases of peptic ulcer are recorded in the U.S. each year.
Rise in prevalence of chronic dermatitis is anticipated to fuel the growth of the global market. Eczema is quite common, especially in children and people who have hay fever, asthma, and food allergies. According to the National Eczema Association, nearly 10% i.e., 31.6 million, people in the U.S. have some form of eczema.
Moreover, increase in research funding, rise in government initiatives to enhance health care facilities, and focus on research are the factors likely to contribute to the growth of the global enoxolone market
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Rise in prevalence & awareness about chronic diseases and government initiatives in developing countries present lucrative opportunities in the global enoxolone market
Demand for enoxolone has increased in developing and developed markets. Market players are adopting the strategy of appointing third-party distributors to expand their presence. This has led to a surge in the number of distributors and suppliers in the emerging markets. This creates lucrative opportunity in the market. For instance, Selleck Chemicals supplies over 120,000 inhibitors used in the study of cell signaling pathways. BioVision, Inc. has strong distribution channel through international distributors in Argentina, Australia, Australia, Belgium, Brazil, Canada, China, the Czech Republic, Denmark, France, and Germany.
North America to Capture Major Share of Global Enoxolone Market
North America is projected to account for major share of the global enoxolone market during the forecast period. Growth of market in the region can be attributed to the presence of key players, focus on research & development, and well-established health care infrastructure.
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Asia Pacific is anticipated to account for considerable share of the global enoxolone market from 2020 to 2030. The market in the region is expected to grow at a rapid pace during the forecast period. Growth of the market in the region can be attributed to surge in the number of elderly people with chronic diseases. Peptic ulcer is common among the population of China due to use of nonsteroidal anti-inflammatory drugs (NSAID) and aspirin. Rise in prevalence of peptic ulcer increases the demand for enoxolone, which in turn boosts the growth of the market in Asia Pacific.
Key Players Operating in Global Enoxolone Market
The global enoxoline market is highly consolidated due to the presence of small number of key players. These players hold major share in their respective regions. Demand for enoxolone has increased in emerging as well as developed markets owing to rise in prevalence of chronic diseases. Growth strategies adopted by leading players are likely to drive the global enoxolone market.
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Major players operating in the global enoxolone market are:
- Merck KGaA (Sigma-Aldrich, Inc.)
- Alchem International Pvt. Ltd.
- Biosynth Carbosynth
- BioVision, Inc.
- TOKIWA Phytochemical Co., Ltd.
- Other Prominent Players
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