Market revenue in 2020 | USD 56.7 million |
Market revenue in 2028 | USD 86.1 million |
Growth rate | 5.4% (CAGR from 2020 to 2028) |
Largest segment | Bioprocess |
Fastest growing segment | Bioprocess |
Historical data | 2017 - 2019 |
Base year | 2020 |
Forecast period | 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 |
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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 76.37% in 2020. Horizon Databook has segmented the U.S. l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
The U.S. exhibits high prevalence of obesity in its population. As per data published by the U.S. Department of Health & Human Services, obesity is quoted to be one of the costliest and serious health issues. In 2017–2018, around 42.2% of the entire U.S. population was obese, which has increased by more than 11% from the year 2000.
Obesity has also been associated with serious heart conditions, strokes, type 2 diabetes, and is considered one of the leading causes of premature deaths.
The use of L-carnitine is expected to increase as it has positive impact on the lipid metabolism, such as decreasing HDL and FFA concentrations, as per a research paper named “The effect of L-carnitine on lipid metabolism in patients with obesity” on Elsevier Inc. L-carnitine is also preferred due to its other benefits including enhanced bone mass, muscle gain, and immunity. Increasing utilization of L-carnitine in nutraceutical products and medicines due to a number of benefits is likely to propel its market growth over the forecast period.
Horizon Databook provides a detailed overview of country-level data and insights on the U.S. l-carnitine market , including forecasts for subscribers. This country databook contains high-level insights into U.S. l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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