Enoxolone Market: Introduction
- Enoxolone (glycyrrhetic acid) is a pentacyclic triterpenoid aglycone metabolite of glycyrrhizin and one of the primary bioactive compounds of licorice. It is widely used in medicine for the treatment of chronic dermatitis, peptic ulcer, and in cosmetics. Moreover, it possesses additional pharmacological properties such as antibacterial, antifungal, antiprotozoal, and antiviral. Once enoxolone is administered, it inhibits the metabolism of prostaglandins by both prostaglandin reductase and 15-hydroxyprostaglandin dehydrogenase [NAD(+)].
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Key Drivers and Opportunities of Global Enoxolone Market
- The number of people with chronic diseases is increasing owing to change in lifestyle and unhealthy dietary habits. This in turn boosts the growth of the global enoxolone market. For instance, annually, 4.6 million cases of peptic ulcer are recorded in the U.S. each year.
- Rise in prevalence of chronic dermatitis is anticipated to fuel the growth of the global market. Eczema is quite common, especially in children and people who have hay fever, asthma, and food allergies. According to the National Eczema Association, nearly 10% i.e., 31.6 million, people in the U.S. have some form of eczema.
- Moreover, increase in research funding, rise in government initiatives to enhance health care facilities, and focus on research are the factors likely to contribute to the growth of the global enoxolone market
- Rise in prevalence & awareness about chronic diseases and government initiatives in developing countries present lucrative opportunities in the global enoxolone market
- Demand for enoxolone has increased in developing and developed markets. Market players are adopting the strategy of appointing third-party distributors to expand their presence. This has led to a surge in the number of distributors and suppliers in the emerging markets. This creates lucrative opportunity in the market. For instance, Selleck Chemicals supplies over 120,000 inhibitors used in the study of cell signaling pathways. BioVision, Inc. has strong distribution channel through international distributors in Argentina, Australia, Australia, Belgium, Brazil, Canada, China, the Czech Republic, Denmark, France, and Germany.
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North America to Capture Major Share of Global Enoxolone Market
- North America is projected to account for major share of the global enoxolone market during the forecast period. Growth of market in the region can be attributed to the presence of key players, focus on research & development, and well-established health care infrastructure.
- Asia Pacific is anticipated to account for considerable share of the global enoxolone market from 2020 to 2030. The market in the region is expected to grow at a rapid pace during the forecast period. Growth of the market in the region can be attributed to surge in the number of elderly people with chronic diseases. Peptic ulcer is common among the population of China due to use of nonsteroidal anti-inflammatory drugs (NSAID) and aspirin. Rise in prevalence of peptic ulcer increases the demand for enoxolone, which in turn boosts the growth of the market in Asia Pacific.
Key Players Operating in Global Enoxolone Market
The global enoxoline market is highly consolidated due to the presence of small number of key players. These players hold major share in their respective regions. Demand for enoxolone has increased in emerging as well as developed markets owing to rise in prevalence of chronic diseases. Growth strategies adopted by leading players are likely to drive the global enoxolone market.
Major players operating in the global enoxolone market are:
- Merck KGaA (Sigma-Aldrich, Inc.)
- Alchem International Pvt. Ltd.
- Biosynth Carbosynth
- BioVision, Inc.
- TOKIWA Phytochemical Co., Ltd.
- Other Prominent Players
Global Enoxolone Market: Research Scope
Global Enoxolone Market, by Route of Administration
Global Enoxolone Market, by Application
- Chronic Dermatitis
- Peptic Ulcer
Global Enoxolone Market, by Distribution Channel
- Online Stores
- Wholesaler / Dealer
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.