Sphingolipids Market is expected to reach US$ 991.8 Million by 2032
The global sphingolipids market was valued at approximately US$ 564.0 Million in 2021, with the global market expected to grow at a 5.1% CAGR to an anticipated valuation of approximately US$ 991.8 Million by the end of 2032. As of 2021, conventional lipid-based drug delivery systems (LBDDS) account for 61.9% of the worldwide sphingolipids market.
The global market for sphingolipid products is expanding rapidly as a result of rapid molecular and biological customization in the sphingolipid components/ formulations and the increasing prevalence of cardiovascular diseases worldwide coupled with an elderly population. During the forecast period, the market is anticipated to be driven by an increase in the use of natural, synthetic, and semi-synthetic sphingolipids and monomers in the creation of various pharmaceutical formulations.
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As the sphingolipids market is not reaching its potential as per the asked demand, due to unexplored benefits of sphingolipids in the healthcare sector, and the side effects of the consumption of sphingolipids inappropriately, the companies are introducing novel sphingolipids components/formulations with minimal side effects at reasonable costs.
This factor might significantly improve the adoption and consumption of pharmaceutical sphingolipids. The rising product launches and approvals are expected to contribute to the market growth over the forecast period too.
Key Takeaways from Market Study
- Sphingomyelin is the leading segment as a product and holds approximately 29.0% market share in 2021, due to its anti-cancer, bacteriostatic, and cholesterol-lowering characteristics.
- Synthetic sphingolipids are the leading segment by source, and held about 38.4% market share in 2021, owing to their potential as therapeutic prospects for treating a range of medical problems.
- Conventional lipid-based drug delivery systems (LBDDS) is the leading segment in terms of application holding about 61.9% of the market share, as compared to traditional tablets or powder-filled capsules, as they can improve bioavailability and reduce dissolving rate-limited absorption because of their pharmacological composition in a solubilized condition.
- Semi-solid form of sphingolipids is the leading form as of 2021, withholding about 61.3% of the global market share, owing to the property of reduced adverse side effects when a high drug load is applied to the area where the medication is actually required.
- Pharmaceutical companies are the leading end users of the global market as of 2021, withholding about 35.5% of the market share, because of increased outsourcing, innovative modalities, and creative patient outreach tactics.
- By region, North America is leading in the global sphingolipids market and is expected to continue to do so with a projected CAGR of 5.4% during the forecasted years.
“Rising initiatives to promote health benefits of sphingolipids products, as well as the increasing ongoing research and development in modifying novel sphingolipids formulations is set to propel the market of sphingolipids across the globe,” says an analyst of Future Market Insights.
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Companies are actively working to increase their market share in this industry by forming strategic agreements to diversify their respective service offerings and sphingolipid production capacities.
- In January 2022, Pfizer and Acuitas Therapeutics reached an agreement on Lipid Nanoparticle Delivery System for mRNA vaccines and therapeutics.
- June 2022: To support customers’ scientific research, CD Bioparticles, enlarged its lipid system portfolio and introduced a number of Sphingolipids products. With the addition of Phosphosphingolipids, Ceramides, Sphingolipid Metabolism, Sphingosines, Glycosphingolipids, Phytosphingosine, and Sphingomyelin, researchers now have more options to choose from and employ in lipid system applications.
Key Segments Covered In Sphingolipids Industry Research
- Glucosylceramide (GlcCer)
- Lactosylceramide (LacCer)
- Ganglioside GM3
- Conventional Lipid-based Drug Delivery Systems (LBDDS)
- Self-Emulsifying Drug Delivery Systems (SEDDS)
- Self-Microemulsifying Drug Delivery Systems (SMEDDS)
- Solid Lipid Nanoparticles
- Nanostructured Lipid Carriers
By End User:
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Academics and Research Institutes
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