MAGNESIUM GLUCONATE MARKET ANALYSIS

The global magnesium gluconate market size is expected to witness potential gains in the future, and register a significant CAGR of 2.9% over the forecast period (2019 - 2027).

Market Overview

Magnesium gluconate is the magnesium salt of gluconic acid. It is used as a mineral supplement for magnesium in blood. It is also a food additive that acts as an acidity regulator. It is used as a firming agent and a yeast nutrient. Magnesium gluconate is better absorbed and causes less diarrhea and is therefore preferred as a magnesium supplement. It also finds application in personal care products such as deodorizing hair & body wash, face lotion, and glycerin bar soap.

Market Dynamics

Increasing prevalence of gastrointestinal disorders, diarrhea, and kidney disease is expected to boost growth of the global magnesium gluconate market. Gastrointestinal disorders, prolonged vomiting or diarrhea, kidney disease, or certain other conditions may lead to low blood magnesium. Magnesium gluconate acts as a supplement for magnesium in blood. It also helps to prevent pregnancy-induced hypertension and premature uterine contractions. Magnesium gluconate can be consumed orally and is available in tablet and liquid form.

However, high doses of magnesium from dietary supplements or medications may lead to diarrhea along with nausea and abdominal cramping. Magnesium gluconate is not prescribed to patients with renal impairment as consumption may lead to hypermagnesaemia. It may also restrict absorption of other medicines such as antibiotics, Paget's disease of bone therapies, osteoporosis medication, and thyroid medication. Such factors may hinder growth of the global magnesium gluconate market.

Market Outlook

Among regions, Asia Pacific is projected to be witness the highest CAGR over the forecast period. This is owing to increasing incidences of gastrointestinal disorders, diarrhea, and kidney disease in the region. North America is expected to account for major market share, owing to presence of major pharmaceutical companies in the region.

Key Players

Key players in the market are focused on conducting preclinical trials for use of magnesium gluconate for the treatment of hypomagnesemia. For instance, in June 2019, Trivedi Global, Inc. announced results from preclinical trials on the advantageous effect of biofield energy treatment on enhancing physicochemical properties of magnesium gluconate for the treatment of hypomagnesemia.

Some of the major players operating in the global magnesium gluconate market include, Taizhou Yojoy Chemical Co., Ltd., Ferguson (Wuhan) Biotechnologies Ltd., Hongkong Yuancheng Saichuang Technology Co., Ltd., Xi'an Miracle Biotechnology Co., Ltd., Henan Xingfa Bio-Technology Co., Ltd., Shandong Penglai Marine Bio-Tech Co., Ltd., Hangzhou Dayangchem Co., Ltd., and Generichem Corporation.

Key Developments:

• In May 2019, according to an article published by India Brand Equity Foundation, pharmaceutical industry in India was valued at US$ 33000 Million in 2017 and generic drugs (such as magnesium glutamate) account for 20% of the total drugs exports, making India the largest generic drugs supplier in India. Increasing exports of generic drugs from India is expected to propel the growth of magnesium gluconate in the country.
• In June 2017, according to National Institute of Health (NIH), Magnesium acts as essential mineral for over 300 enzyme related actions in the body and it is suitable to include magnesium gluconate as a dietary supplements as well as medicines such as laxatives and antacids. Increasing use of magnesium gluconate in the medical sector is expected to drive the growth of magnesium gluconate during the forecast period.
• In March 2016, according to the research paper published on National Center for Biotechnology Information, U.S National Library of Medicine, magnesium and potassium glucomate helps to regulate the cardiovascular functions of the body and it is mainly used in a drug named – “Rhythmocor”. Growing demand of magnesium glucomate from the cardiovascular drug industry is set to propel the magnesium glucomate globally.