The Cholic Acid Market is expected to register a CAGR of 7.90% during the forecast period with a market value of USD 92,412.51 Thousand till 2024. Gallstones are deposits of cholesterol and other digestive fluids that form in the gallbladder. Cholic acid is used as an active pharmaceutical ingredient in manufacturing medications for dissolution of gallstones. Apart from treating gallstones, cholic acid is also used in treating bile acid synthesis disorders and Zellweger Spectrum Disorders.
High prevalence of gallbladder cancer, high prevalence of obesity, and increasing geriatric population is anticipated to drive the market growth. However, stringent regulatory policies are likely to hamper the market growth.
MRFR recognizes the following companies as the key players in the global cholic acid market— Alchem International Ltd (US), Daewoong Bio, Inc. (South Korea), Dipharma Francis SRL (Italy), Erregierre SpA (Italy), Fujimoto Chemicals (Japan), Industria Chimica Emiliana SRL (Italy), Istituto Biologico Chemioterapico SpA (Italy), Kinsy SL (Spain), New Zealand Pharmaceuticals Limited (New Zealand), Panjin Hengchanglong Pharmaceutical (China), PharmaZell GmbH (Germany), Retrophin, Inc. (US), Showa Denko KK (Japan), Suzhou Tianlu Biopharmaceuticals Co. Ltd (China), and Zhejiang Yongning Pharmaceutical (Zhejiang)
Key Findings of the Study
- The Global Cholic Acid Market was valued at USD 58,560.14 thousand in 2018, is estimated to grow to USD 92,412.51 Thousand by 2024 at a CAGR of 7.90% during the assessment period
- Europe accounted for the largest share of the global market due to the presence of major manufacturers like Industria Chimica Emiliana (ICE), Istituto Biologico Chemioterapico SpA, Prodotti Chimici Alimentari (PCA) SpA; and high production of cholic acid.
The global cholic acid market, based on region, is divided into Europe, Asia-Pacific, Americas, and the Middle East & Africa.
Europe is expected to hold the largest share of the global cholic acid market. This is due to the presence of major manufacturers like Industria Chimica Emiliana (ICE), Istituto Biologico Chemioterapico SpA, Prodotti Chimici Alimentari (PCA) SpA; and high production of cholic acid.
Asia-Pacific consists of China, Japan, South Korea, India, and others; and accounts for second-largest market share in the global cholic acid market. According to the Global Burden of Disease report by the University of Washington in Seattle, ranks second-in-line in the number of obese adults globally, which increases the risk of a rise in the prevalence of gallstones in the future.
The Americas consist of two main regions, namely, North America and Latin America. The North America market is further bifurcated into the US and Canada. A study by the American Cancer Society states that as of July 2019, around 3,960 deaths have been recorded out of a total 12,360 new cases of gallbladder cancer diagnosed. This increase in the prevalence of gall bladder cancer reflects the increase in gallstones, thus is expected to boost the growth of the US cholic acid market during the forecast period.
The Middle East & Africa accounts for the least market share in the global cholic acid market and is expected to show steady growth during the forecast period.