New York, March 26, 2020 (GLOBE NEWSWIRE) -- The global thiamine hydrochloride market is expected to reach USD 272.6 Million by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the growing application of thiamine hydrochloride, a white or nearly white crystalline powder.
Thiamine hydrochloride helps in enhancing the body immunity. It is beneficial in improving the overall well-being of the human body, along with the prevention of complications in the nervous system, aerobic metabolism, cell growth, and acetylcholine synthesis, among others. It is required by the body to maintain the proper flow of electrolytes into and out of nerve cells. Moreover, it aids in preventing several disorders, including Wernicke-Korsakoff syndrome (WKS), which if left untreated can lead to permanent memory loss.
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Rising geriatric population is likely to boost the growth of the thiamine hydrochloride market in the upcoming years. As per the Global Health and Aging report published by the WHO (World Health Organization), the number of people aged 65 years or older is estimated to increase from a projected 524 million in 2010 to approximately 1.5 billion by 2050, with a significant percentage of increase in developing economies. Additionally, the number of people aged 65 years or older is anticipated to considerably surpass children younger than 5 years of age by 2050.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented the global thiamine hydrochloride market on the basis of grade, distribution channel, application, and region:
Grade Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
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