Inositol Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The global inositol market is projected to grow at a CAGR of 8.23% during the forecast period (2020-2025).
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 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.