Monday, January 22, 2024

Advanced Glycation End Products Market Research: Exploring Key Players and Competitive Landscape

 


Advanced Glycation end products (AGEs) are a heterogeneous group of compounds that are formed through non-enzymatic reactions between reducing sugars and amino groups in proteins, lipids or nucleic acids. Excessive accumulation of AGEs in tissues and blood contribute to diabetic complications such as retinopathy, nephropathy, and neuropathy. Globally, an increasing number of people are diagnosed with diabetes, which is a key driver for AGE formation in the body. The global Advanced Glycation End Products Market primarily includes ingredients, supplement and testing products that can help reduce the accumulation of AGEs. The global Advanced Glycation End Products Market is estimated to be valued at US$ 8 billion in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends: One of the major trends fueling the growth of Advanced Glycation End Products Market is rising prevalence of diabetes worldwide. As per International Diabetes Federation estimates, approximately 537 million adults were living with diabetes in 2021 which is projected to rise to 643 million by 2030 and 783 million by 2045. Diabetes substantially increases the risk of various health conditions associated with excessive accumulation of AGEs in tissues and blood vessels over time. Therefore, growing diabetic population has increased the demand for AGE-reduction therapies and testing, thereby driving the Advanced Glycation End Products Market during the forecast period.

SWOT Analysis
Strength: Growing incidence of diabetes and chronic kidney diseases are expected to drive market growth over the forecast period. Weakness: Low awareness among patients about the role of advanced glycation end products in disease progression could hamper market growth. Opportunity: Constant innovations in diagnostics, preventive care and drug development are likely to offer lucrative opportunities in market. Threats: Stringent regulations for product approval might pose challenge for market players.

Key Takeaways

The global Advanced Glycation End Products market is expected to witness high growth over the forecast period.

Regional analysis: North America is expected to dominate the global market over the forecast period owing to rising prevalence of chronic diseases and strong healthcare infrastructure in the region. The Asia Pacific market is anticipated to grow at fastest pace due to increasing healthcare spend, rising diabetes incidence and growth in medical tourism.

Key players: Key players operating in the Advanced Glycation End Products market are Lonza, Thermo Fisher Scientific, Abcam, Novus Biologicals, Amsbio, Merck and Cosmo Bio. These players are focusing on new product launches and expanding regional presence to strengthen their market position.

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