North America L-carnitine Market Size & Outlook, 2020-2028
North America l-carnitine market, 2017-2028 (US$M)
Related Markets
North America l-carnitine market highlights
- The North America l-carnitine market generated a revenue of USD 70.0 million in 2020.
- The market is expected to grow at a CAGR of 5.2% from 2021 to 2028.
- In terms of segment, bioprocess was the largest revenue generating process in 2020.
- Bioprocess is the most lucrative process segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2021 to 2028.
North America data book summary
| Market revenue in 2020 | USD 70.0 million |
| Market revenue in 2028 | USD 105.3 million |
| Growth rate | 5.2% (CAGR from 2020 to 2028) |
| Largest segment | Bioprocess |
| Fastest growing segment | Bioprocess |
| Historical data covered | 2017 - 2019 |
| Base year for estimation | 2020 |
| Forecast period covered | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Chemical Synthesis, Bioprocess |
| Key market players worldwide | Lonza Group Ltd, Neogen Corp, WuXi Biologics (Cayman) Inc, Merck KGaA, Tokyo Chemical Industry, CEVA Inc |
Other key industry trends
- In terms of revenue, North America region accounted for 37.8% of the global l-carnitine market in 2020.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 69.3 million by 2028.
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L-carnitine Market Scope
L-carnitine Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America l-carnitine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to l-carnitine market will help companies and investors design strategic landscapes.
Bioprocess was the largest segment with a revenue share of 76.43% in 2020. Horizon Databook has segmented the North America l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
North America has the largest pharmaceutical market in the world as it is a well-established market due to high regional GDP, high per capita income, healthcare awareness boosted with access to high value drugs. The U.S. accounts for the highest share in pharmaceutical industry in terms of revenue, due to the presence of numerous key market players, such as AbbVie Inc., in the country.
Additionally, the production, research & development, exports, and employment related to the segment have increased over the years with companies such as Pfizer spending around 18% of their revenue on research & development.
The COVID-19 has additionally impacted the industry as rising health consciousness has resulted in increased sales for supplements and immunity-boosting pharmaceuticals further expanding the pharmaceutical market in the region.
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Target buyers of North America l-carnitine market databook
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Our clientele includes a mix of l-carnitine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America l-carnitine market , including forecasts for subscribers. This continent databook contains high-level insights into North America l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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North America l carnitine market size, by country, 2017-2028 (US$M)
North America L-carnitine Market Outlook Share, 2020 & 2028 (US$M)
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