Rockville, MD, Nov. 06, 2024 (GLOBE NEWSWIRE) -- According to a new industry report by Fact.MR, the global tryptamine API market is projected to be worth US$ 757.2 million in 2024 and thereafter advance at 11.5% CAGR from 2024 to 2034.
Tryptamine possesses anti-cancer properties by inhibiting TrpRS enzymatic activity and downregulating TrpRS expression in some cultured cancer cells. Thus, cytotoxic dosages of tryptamine are lethal to cancer. Tryptamine has been shown to decrease the size and development of tumors in vivo. Due to its utilization, tryptamine APIs are increasing in greater demand.
Migraines are a common neurological disorder that affect over a billion individuals worldwide each year. Tryptamine-based active pharmaceutical ingredients (APIs) are highly sought after in the treatment of migraines due to the complexity of migraine formation, which entails multiple social and biological risk factors.
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Key Takeaways from Market Study
- The global market for tryptamine APIs is projected to reach US$ 2.25 billion by 2034-end.
- North America is estimated to hold 1% of the global market share in 2024.
- Worldwide sales of GMP-grade tryptamine APIs are estimated at US$ 687.2 million in 2024.
- The East Asia market is forecasted to generate revenue worth US$ 456 million by 2034-end.
- The market in China is forecasted to expand at a CAGR of 2% through 2034.
- Use of tryptamine APIs in clinical settings is projected to reach a value of US$ 1.72 billion by the end of 2034.
- Based on source, demand for biosynthetic tryptamine APIs is projected to rise at 3% CAGR from 2024 to 2034.
- The United States is estimated to lead the North American market with 9% revenue share in 2024.
“As tryptamines are being extensively studied for use in treating a variety of neurological and mental problems, the market for tryptamine APIs is projected to expand at a significant pace,” says a Fact.MR analyst.
Increasing Prevalence of Migraines Pushing Demand for Tryptamine APIs
Migraine incidence and morbidity are significant, particularly among the younger generation and women, and these patients have been linked to multiple disorders including anxiety, sleeplessness, and even suicidal ideation. Several social and biological risk factors, such as hormonal imbalances, genetic and epigenetic effects, neurological, immunological, and cardiovascular disorders, are being suggested as a result of the intricate and well-recognized mechanisms underlying the creation of migraines.
The management of persistent migraines is a quickly developing and active field of study. Tryptamine API demand is growing as a result of this research producing more accurate diagnoses and customized treatments for this condition.
Tryptamine API Industry News:
- In September 2023, Cybin Inc., a clinical-stage biopharmaceutical company focused on transforming mental healthcare with innovative psychedelic-based treatments, received U.S. patent 11,746,088 from the United States Patent and Trademark Office (USPTO). This patent encompasses the composition of matter for deuterated tryptamine compounds and their pharmaceutical formulations, granting exclusivity until 2041.
Leading Players Driving Innovation in the Tryptamine API Market:
Key industry participants like Merck, Santa Cruz Biotechnology, Inc., Cayman Chemical Company (Matreya), Enamine Ltd., Indofine Chemical Company, Inc., Otto Chemie Pvt. Ltd, Pfizer Inc., Avra Synthesis Private Limited, Spectrum Chemical, Abbott Laboratories, Biosynth, Eli Lilly and Company, Tocris Bioscience, LGC Standards, Avra Synthesis Private Limited, SimSon Pharma Limited, Glentham Life, Clearsynth Labs, Tokyo Chemical Industry Co. Ltd., Psygen, Toronto Research Chemicals, and Pharmaffiliates Analytics and Synthetics P. Ltd., etc. are driving the tryptamine API industry.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the tryptamine API market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on grade (GMP grade, non-GMP grade), source (natural, synthetic, biosynthetic), and application (clinical use, research use), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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