New York, May 30, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Lactose Intolerance Treatment Global Market Report 2023" - https://www.reportlinker.com/p06457595/?utm_source=GNW
p.A, Amgen Inc., Ganeden Inc., Deerland Probiotics & Enzymes Inc., Novozymes A/S, Cargill Incorporated., Dean Foods, AstraZeneca Plc., Sun Pharmaceutical Industries Ltd., Lupin Pharmaceuticals Inc., Nestle S.A., Aptus Biotech S.L., and Gelda Scientific And Industrial Development.
The global lactose intolerance treatment market is expected to grow from $28.38 billion in 2022 to $30.38 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The lactose intolerance treatment market is expected to grow to $39.18 billion in 2027 at a CAGR of 6.6%.
The lactose intolerance treatment market consists of sales of lactase enzyme products, tablets and drops that contain lactase.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Lactose intolerance treatment is a treatment for a condition that causes symptoms in the digestive system.It is a digestive disorder in which enough lactase is not produced.
This condition can cause abdominal pain, flatulence, bloating, cramps, acidity, and diarrhea. A natural enzyme (lactase) produced by the body is substituted in the treatment of lactose intolerance.
North America was the largest region in the lactose intolerance treatment market in 2022. The regions covered in the lactose intolerance treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The treatments involved in lactose intolerance treatment are food supplements, enzyme lactase supplements, probiotics and others.Food supplements are defined as those that are designed to make up for nutritional deficiencies, ensure an adequate intake of specific nutrients, or support particular physiological functions.
The intolerance types involved are primary lactose intolerance, secondary lactose intolerance, congenital lactose intolerance, and developmental lactose intolerance that are administered through oral and injectable methods. They are used by hospitals, homecare, specialty clinics, and other end users.
The increasing incidences of small intestine diseases are expected to propel the growth of the lactose intolerance treatment market going forward.The small intestine disease affects the body’s digestive system and results in two conditions that are characterized by persistent gastrointestinal tract inflammation.
Small intestine disorders are treated with lactose intolerance treatment.It contains lactose, which is broken down by the enzyme lactase into the simpler sugar glucose and galactose in the small intestine.
For instance, in October 2022, according to a report by the United European Gastroenterology (UEG), an Austria-based non-profit organization, throughout Europe, more than 300 million people suffer from digestive illnesses. The cost of digestive diseases as a percentage of GDP was 0.12%, which translates to a potential cost of $20 billion in Europe in 2021, and the estimated cost of preventing productivity losses in 2019 was $11.4 billion. In the future, this will increase to $34.2 billion for 75% reductions. Therefore, increasing incidences of small intestine diseases are driving the growth of the lactose intolerance treatment market.
Product innovation is a key trend gaining popularity in the lactose intolerance treatment market.Major companies operating in lactose intolerance treatment market are focused on developing innovative solutions to strengthen their position in the market.
For instance, in March 2020, Novozymes A/S, a Denmark-based biotechnology company, launched its new product, Saphera Fiber, a new lactase enzyme that reduces sugars without affecting sweetness, enhancing the nutritional profile of dairy products. While allowing for claims of low lactose, it also increases the dietary fiber and boosts lactose protein fibers and enzymes.
In May 2020, Qualigen Therapeutics Inc., a US-based biotechnology company acquired Ritter Pharmaceuticals Inc. for a deal amount of $40.8 million. With this acquisition, Qualigen Therapeutics Inc. aims to produce therapeutic products that modulate the gut microbiome to treat gastrointestinal diseases and expand its market services on a global level. Ritter Pharmaceuticals Inc. is a US-based pharmaceutical company that produces nutritional supplement which is claimed to reduce the symptoms of lactose intolerance.
The countries covered in the lactose intolerance treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The lactose intolerance treatment market research report is one of a series of new reports that provides lactose intolerance treatment market statistics, including lactose intolerance treatment industry global market size, regional shares, competitors with lactose intolerance treatment market share, detailed lactose intolerance treatment market segments, market trends, and opportunities, and any further data you may need to thrive in the lactose intolerance treatment industry. This lactose intolerance treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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