Aminobenzoic acid, also known as para-aminobenzoic acid is a chemical found primarily in the folic acid vitamin. Furthermore, it can be found in foods such as eggs, meat, milk, and grains. Aminobenzoic acid is commonly used to treat skin conditions such as pemphigus, vitiligo, morphea, Peyronie’s disease, dermatomyositis, and scleroderma. However, the best use of aminobenzoic acid is a sunscreen where it is used to prevent sun damage caused by the ultraviolet rays. Other conditions for which aminobenzoic acid is used include arthritis, infertility in women, constipation, and rheumatic fever.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that first emerged in late December in the Hubei province of the Wuhan city in China. The virus that causes severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is highly infectious and,, is transmitted from person to person. Since the outbreak in December 2019, the disease has spread to almost 213 countries across the globe with the World Health Organization declaring it a pandemic on March 11, 2020.
Pharmaceutical and biotech companies together with the governments around the globe are working to address the COVID-19 outbreak, from vaccines development to medicine supply chain planning. Approximately, 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a significant increase in demand for the treatment of COVID-19. Such increase in demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are experiencing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for COVID-19 vaccines and treatment drugs.
The COVID-19 has disrupted the supply chain of the raw material required to manufacture aminobenzoic in many countries. Furthermore, pharmaceutical market growth is also declining as the drug manufacturers have slowed down their production because of the pandemic. This, is expected to significantly impact the aminobenzoic acid market.
Top Impacting Factors
Sun damage causes wrinkles, hyperpigmentation, and sagging skin, along with other aging symptoms on the skin. These symptoms can be avoided by using sunscreen that often contains aminobenzoic acid. Hence, this factor boosts the growth of the aminobenzoic acid market.
Aminobenzoic acid is also prescribed orally for patients suffering from conditions like vitiligo and dermatomyositis. The increase in number of patients suffering from such conditions propels the growth of the aminobenzoic acid market.
The surge in geriatric population boosts the expansion of the aminobenzoic acid market. This is because aminobenzoic acid is used to prevent hair loss, darken grey hair, and make the skin look younger.
Some people are concerned about the safety of aminobenzoic acid when taken orally Such factors can restrict the growth of the aminobenzoic acid market.
Key Market Trends
The use of aminobenzoic acid for treating scleroderma has been granted. Scleroderma is a skin condition that causes thickening and hardening of the skin. According to some research studies, aminobenzoic acid may help with the symptoms of this condition.
According to preliminary research, aminobenzoic acid can be used as an eye solution to treat herpes keratitis. Herpes keratitis is an eye infection caused by the herpes virus.
North America leads the aminobenzoic acid market owing to the increased awareness amongst people about the adverse effects of ultraviolet (UV) rays. Sunscreens containing aminobenzoic acid are sold under different brand names in nations like Canada and the U.S.
The Asia-Pacific region is expected to hold a major share of the aminobenzoic acid market. This can be attributed to an increase in the number of cases of sun damage on the skin especially in the South Asian countries where the summer season is quite long.
Key Benefits of the Report
- This study presents the analytical depiction of the aminobenzoic acid industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the aminobenzoic acid market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the aminobenzoic acid market.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and the competition that will take shape in the coming years.
Questions Answered in the Aminobenzoic Acid Report
- Who are the leading market players active in the aminobenzoic acid market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for aminobenzoic acid in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the future projections that would help in taking further strategic steps in the market?
- What are the impacts of COVID-19 on the industry?
- What is aminobenzoic acid?
- What are the current and predicted trends of the market?
Aminobenzoic Acid Market Report Highlights
Key Market Players
Changzhou Sunlight Pharmaceutical Co. Ltd., Anhui Jin'ao Chemical Co. Ltd., Hubei Deli New Material Co. Ltd., FUTOH CHEMICALS Co. Ltd., Anyang Huaying Fine Chemical Industry Co. Ltd., DowDuPont, Mitsuboshi Chemical Co. Ltd., NISSO FINE Co. Ltd.