• Chinese population is projected to witness increased incidence of peripheral neuropathy.
• Methylcobalamin annual sales value increased from less than 200 million CNY in 2005 to 441 million CNY in 2014 at a CAGR of 12.32%.
Investigation Report on Methylcobalamin Market, offers detailed insights into the changing trends within pharmaceuticals industry. The focus is primarily on the increasing demand for drugs that can treat peripheral neuropathy such as Methylcobalamin. A detailed profile of Methylcobalamin including its sales position, market share and pricing in the Chinese market is also present in the investigative report. Furthermore, competitive landscape of major players operating and future outlook of Methylcobalamin in China has also been discussed in the report.
The advent of technology and increasing globalization has changed globally the lifestyles of people living in different parts of the globe. Increasing work-pressure along with the need to have a certain standard of life is forcing people to work beyond. As a result, a large proportion of the working age group is suffering from problems associated with peripheral neuropathy. It is a syndrome, which is a single or any combination form of sensory loss, muscle weakness and atrophy, decreased tendon reflex and vasomotion symptoms.
One of the popular drugs for treating peripheral neuropathy is Methylcobalamin, derivative of Vitamin B12. It can promote intraneural nucleic acid, protein and metabolism, facilitate the synthesis of DNA,RNA as well as the synthesis of lecithin lipid, which is the main component of myelin sheath, and accelerate to restore the damaged nerve tissue to improve the transformation of nerve tissue and the disturbance of metabolism. In addition, it also works on restraining unusual exciting conduction of nerve tissue.
The sales of Methylcobalamin in China have been increasing steadily during the past decade. The incidence of peripheral neuropathy amongst Chinese pharmaceutical industry is expected to grow manifolds resulting in a direct positive impact on the sales of Methylcobalamin. Historically, its annual sales value increased from less than CNY 200 million in 2005 to CNY 441 million in 2014, at a CAGR of 12.32%. Eisai (Suzhou) Pharmaceutical Co., Ltd, Eisai Co., Ltd. (Japan), Jiangsu Sihuan Bioengineering Co., Ltd, Nanjing Hailing Pharmaceutical Co., Ltd. and NCPC occupy large market share.
Global Peripheral Neuropathy Market
The peripheral nervous system in a human body is responsible for connecting the brain with the rest of the body. Any malfunctioning in the peripheral nerves is terms as peripheral neuropathy and the etiology of this medical condition includes dietary deficiencies, diabetes, chronic kidney disease, alcohol abuse and any hereditary disease. The Center for Disease Control and Prevention in the US has stated that the growing number of obese and geriatric people is a cause for peripheral neuropathy. Some of the leading market players in global space include Eli Lilly and Co., Novartis AG, Cipla Laboratories, Abbott Laboratories and GloxoSimitKline.
Some important drivers within the global peripheral neuropathy market include:
• Increasing work-life imbalance
• Large number or obese and geriatric people
• Increased incidence of diabetes
• Improper food habits leading to nutritional deficiencies
• Increasing number of alcohol abuse cases worldwide
Key Topics Covered in the Report:
– Detailed explanation of concepts of Methylcobalamin
– Sales situation of Methylcobalamin in global market
– Market profile of Methylcobalamin in China
– Sales situation of Methylcobalamin in China
– Market share of major Methylcobalamin producers in China
– Profilers of leading players in Chinese Methylcobalamin market
– Future outlook for Methylcobalamin in China, 2015-2019
– Forecast of market scale
– Forecast of competition pattern
Ankur Gupta, Head Marketing & Communications