Bovine Lactoferrin Market Trends

Growth Drivers

• Worldwide Growing Demand for Dietary Supplements - Dietary supplements are additives that are used to supplement our diet with essential nutrients or to reduce the risk of certain health problems. Dietary supplements are a wholesome package of various types of vitamins, minerals, amino acids, and enzymes. As they provide a decent amount of nutrition, people are vastly consuming these dietary supplements to cater to their nutritional requirements. Moreover, bovine lactoferrin provides important nutrients to the human body, and is used in the dietary supplements that are anticipated to drive the market’s growth. For instance, around 40% to 56% of adults in developed nations use dietary supplements.

• Global Surge in Peptic Ulcer Disease - Peptic ulcer disorder, commonly known as stomach or duodenal ulcers, is generally caused by microorganisms or excessive use of conventional painkillers. It is a rough or open sore in the lining of the stomach (gastric) or the upper section of the small intestine. A huge number of people have been suffering from peptic ulcer disorder across the globe. Furthermore, bovine lactoferrin improves the effectiveness of some of the medications for the treatment of ulcer diseases, and it is expected to boost the growth of the market. For instance, in 2019, the worldwide prevalence of peptic ulcer disease (PUD) increased by nearly 9 million.

• Significantly Increasing Prevalence of Neonatal Infections - Neonatal infections are infections that a newborn develops during pregnancy or in the first four weeks after birth. Neonatal infections can pass from mother to child, originate in the birth canal while giving birth, or develop after delivery. While some newborn infections develop right away after childbirth, others can develop months or even years later. Preterm or low birth weight neonates have a higher chance of getting the neonatal infection. A serious concern about neonatal infection is estimated to boost market growth during the forecast period. As per the data provided by the World Health Organization, every year, across the globe, over 550 000 neonatal deaths are caused by neonatal infections.

• Worldwide Increasing Ratio of Acne Issue - Lactoferrin restrict the growth of acne owing to its antioxidant properties. Henve, it is projected to drive the market’s growth. For instance, up to 58 million individuals in the United States experience acne each year, making it the most prevalent skin condition in the country.

• Escalating the Pharmaceutical Industry - For instance, as of November 2021, the pharmaceutical industry in the United States was valued at approximately USD 2.8 trillion, whereas the figure in China was approximately USD 848 billion.

Challenges

• Extreme Price of Lactoferrin - Despite the rising demand for lactoferrin in various infant formulas, personal hygiene products, and dietary supplements; the extremely high price of products that contain bovine lactoferrin is anticipated to slash market growth. The higher price density depends on the purity factor. The higher proportion of purity raises its price around 2 times to 5 times higher. Thus, this significant factor is anticipated to hinder the market growth of bovine lactoferrin over the projected time frame.

• Growing Initiatives by the Governments of Nations to Promote Breastfeeding

• Fluctuating Prices of Lactoferrin