The global  Astaxanthin market size is expected to reach USD 117.54 Billion in 2028 and register a revenue CAGR of 4.30% over the forecast period, according to the latest report by Reports and Data. Major factors driving the global market revenue growth are rise in geriatric population worldwide, rising awareness about regular body profiling, and surging prevalence of chronic diseases such as cancer and diabetes, increasing sales of over-the-counter diagnostic devices such as glucose monitoring kits. Growing need for rapid and accurate disease diagnosis, technological advancements in IVD products, and increasing adoption of point-of-care in vitro diagnostic devices are the other key factors bolstering the growth of this market. In addition, rapid spread of the coronavirus disease, increasing incidences of hospital-acquired infections (HAIs), increasing volumes of COVID-19 tests including RT-PCR, and growing demand for home-care IVD products have boosted demand for Astaxanthin globally.

Market Overview:

The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviours are shifting in a variety of ways, from growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.

 Key Players covered in this report are

Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Cyanotech Corporation (US), Otsuka Pharmaceutical Co., Ltd. (Japan), Valensa International (US), Fuji Chemical Industries Co. (Japan), Divis Laboratories Ltd. (India), Beijing Ginko Group (China), Igene Biotechnology, Inc. (US), Piveg, Inc. (US), Fenchem Biotek Ltd. (US), Algatechnologies (Israel), Cardax, Inc. (US), and Algatechnologies (US).

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On the basis of source, the astaxanthin market has been segmented as follows:

• Natural Source
• Plants
• Yeast Microbes
• Marine
• Petroleum (Synthetic)

On the basis of Application, the astaxanthin market has been segmented as follows:

• Feed
• Supplements 
• Food
• Cosmetics

On the basis of Form, the astaxanthin market has been segmented as follows:

• Dry Form
• Tablet
• Powder
• Biomass
• Liquid Form
• Gel
• Oils
• Energy Drinks

On the basis of Method of Production, the astaxanthin market has been segmented as follows:

• Microalgae Cultivation
• Fermentation
• Extraction
• Chemical Synthesis

Key Regional Markets Studioed in the Report:

• North America (US, Canada)
• Europe (UK, Italy, Germany, France, Rest of EU)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• The Middle East Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)

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