Thymoquinone Market Growth and Demand: 2022, Regional Segments, Development Status, and Business Expansion
The global thymoquinone market size is projected to exhibit monumental growth in the forthcoming years. The naturally found phytochemical possesses anti-oxidant and anti-inflammatory properties. Hence, it experiences strong demand from the pharmaceutical industry to be used in various forms to treat several diseases like hypertension, eczema, asthma, bronchitis, diabetes, etc. Fortune Business Insights™ has presented this information in an upcoming report titled, “Thymoquinone Market, 2022-2030”.
According to the report, the market is gaining steep momentum. Thymoquinone has been found to improve the anticancer activity of chemotherapeutic drugs. The increasing investments in the pharmaceutical industry for anti-carcinogenic drugs are anticipated to fuel market growth significantly.
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On the basis of purity, the market segments into >99%, 98%-99%, <98%, etc. On the basis of application, the market fragments into chemical, pharmaceutical, etc. Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
- The report provides a holistic assessment of the prospected market.
- The report presents information on different geographies; North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
- The report highlights key developments such as partnerships, acquisitions, mergers, etc.
- The report analyzes the impact of the COVID-19 pandemic.
- The report highlights key market trends and the latest technological developments.
Drivers & Restraints-
Increasing Demand from Pharmaceutical Industry to Bolster Market Growth
The rising geriatric population and the increasing prevalence of neurodegenerative diseases, diabetes, cardiovascular diseases, cancer, etc., augment the demand for therapeutic drugs to cure these diseases. The increasing application of thymoquinone in producing these therapeutic drugs is anticipated to bolster the global thymoquinone market growth.
The naturally found phytochemical also acts as a superoxide scavenger that inhibits the movement of several antioxidant enzymes. This is anticipated to fuel market growth.
The rising investments in the strengthening of the medical infrastructure are anticipated to foster market growth. Additionally, the rising research and development activities in anti-carcinogenic drugs are likely to propel market growth in the forthcoming years.
However, the reaction to certain medications is anticipated to hinder the market growth.
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North America to Attain the Largest Share
North America is anticipated to occupy the largest portion of the global thymoquinone market share. The presence of robust healthcare infrastructure, high research and development activities in the pharmaceutical industry and the voluminous production of Monarda Fistulosa to extract essential oils consisting of thymoquinone are likely to foster market growth.
Asia Pacific is projected to gain a substantial market share due to the abundance of raw materials available in the region.
Europe is anticipated to witness significant growth in the forthcoming years. The rising research and development activities in the pharmaceutical industry and the escalating geriatric population are projected to contribute to market growth.
The Middle East & Africa, and Latin America are projected to witness sluggish growth during the forecast period.
Major Players Strengthen their Market Foothold through Acquisitions & Mergers
The global thymoquinone market comprises key players operating at global and regional levels. These players adopt inorganic growth strategies like acquisitions, partnerships, mergers, collaborations, etc., to expand their market presence. For instance, Toronto Research Chemicals was acquired by LGC in August 2019. The acquisition is aimed to help the company strengthen its market foothold.
Key Players in the Global Thymoquinone Market are:
- Sarchem Labs
- Nanjing Zelang
- Guangzhou Howei Chemical
- Toronto Research Chemicals
- LKT Laboratories
- Ark Pharm
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