Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Lactose Intolerance Treatment Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.The latest market research projects a robust growth trajectory, with the market size anticipated to climb from $30.52 billion in 2023 to an impressive $43.59 billion by 2028. This substantial expansion reflects a compound annual growth rate (CAGR) of 7.4%, highlighted by increasing awareness, a surge in lactose intolerance diagnosis, and innovative therapeutic solutions.
The Key Drivers of Market Expansion
This growth momentum in the lactose intolerance treatment market is primarily fueled by the rising number of individuals diagnosed with small intestine diseases, which are closely linked to lactose intolerance. A notable report from the United European Gastroenterology identifies digestive illnesses as a significant health burden, with substantial costs and a wide-reaching impact on population health. The expanding global populace, which is projected to approach 8.5 billion by 2030, further underscores the increasing demand for lactose intolerance therapies.
Regional Market Insights
In 2023, North America led the market as the preeminent region for lactose intolerance treatment, backed by robust healthcare infrastructure and heightened consumer insight. However, the report also encompasses detailed analyses of other key regions, including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa, each contributing to the global market landscape.
Treatment Modalities and Market Segments
- The market segments span food supplements, enzyme lactase supplements, probiotics, and other methods catering to various intolerance types — primary, secondary, congenital, and developmental.
- These treatments, administered orally or via injectables, find application across hospitals, homecare services, specialty clinics, and other healthcare settings.
Technological Innovations Underpin Market Growth
Advancements in technology remain a dominant trend, with market leaders continuously exploring new solutions to cater to the needs of lactose intolerant consumers. Products ranging from low lactose milk-based offerings to plant-based alternatives are reshaping consumer choices and driving forward market innovation.
Focusing on Consumer Health Needs
As the lactose intolerance treatment market advances, key industry players are increasingly aligning their strategies with the evolving health requirements of consumers. This is observed in the burgeoning variety of functional foods, nutraceuticals, and personalized medicine approaches. Significantly, innovation in the sector is not only enhancing product quality but is also fueling the adoption of new therapeutic procedures and products designed for improved tolerability and effectiveness.
Anticipated Developments Shaping the Future
As the lactose intolerance treatment market continues to evolve, emerging trends are poised to influence its trajectory significantly:
- Enhanced focus on dairy alternatives and animal-free products.
- Technological advancements in diagnostic tools and therapeutic products.
- Increased global awareness through educational and health initiatives.
- Expansion in emerging markets and globalization of dietary patterns.
A selection of companies mentioned in this report includes
- Johnson & Johnson Services Inc.
- Abbott Laboratories Inc.
- Macleods Pharmaceuticals Limited
- Nature's Way Brands LLC
- Profarma
- Ganeden Inc.
- Deerland Probiotics & Enzymes Inc.
- Novozymes A/S
- Cargill Incorporated
- Dean Foods Company
- Lupin Pharmaceuticals Inc.
- Nestlé S.A.
- Alembic Pharmaceuticals Limited
- Glenmark Pharmaceuticals Limited
- Intas Pharmaceuticals Ltd.
- Jubilant Life Sciences Limited
- Wockhardt Ltd.
- Alkem Laboratories Limited
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Dr. Reddy's Laboratories Ltd.
- Torrent Pharmaceuticals Ltd.
- Amgen Inc.
- DuPont Nutrition & Biosciences Inc.
- Kerry Group plc
- Koninklijke DSM N.V.
- Solvay S.A.
- Chr. Hansen Holding A/S
- Bio-Cat Inc.
- Solgar Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ty6wu4
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