The global cordyceps market is anticipated to grow at a significant CAGR of 8.8% during the forecast period (2022-2028). Cordyceps is a fungus found in high mountain regions of Tibet, Nepal, and China, where it thrives on caterpillars. The majority of cordyceps supplements are manufactured in a laboratory setting. It is an immunity booster product. It may additionally aid in the fight against cancer cells and tumor shrinkage, especially in the case of lung and skin malignancies. Cordyceps is frequently used for sports performance, kidney diseases, and liver issues. The rising prevalence of chronic diseases such as diabetes, cardiovascular disease, respiratory disease, and cancer are likely to promote the usage of cordyceps sinensis extracts as preventive healthcare products during the forecast period. However, the high cost associated with it and its rare availability may hinder the growth of the market.
According to the World Health Organization, noncommunicable illnesses caused more than 41 million deaths in 2018, accounting for 71% of all fatalities globally. Furthermore, cardiovascular disorders are responsible for more than 17.9 million deaths per year, with cancer (9 million), respiratory illnesses (3.9 million), and diabetes (1.6 million) following closely behind. Furthermore, the increased demand for herbal medicine in primary care is expected to support the growth of the cordyceps sinensis and militaris markets during the forecast period.
The market players are also contributing significantly in the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-
- In October 2021, Oxford University researchers collaborated with NuCana, one of the leading pharmaceutical companies, to evaluate a potential chemotherapy medication generated from a fungus. According to this research published in Clinical Cancer Research, NuCana’s novel medicine NUC-7738 has potency up to 40 times of its parent molecule in killing cancer cells, with fewer hazardous side effects. Cordycepin, on the other hand, breaks down quickly in the bloodstream, so only a small amount of cancer-killing medication reaches the tumor. NuCana has turned cordycepin into a clinical therapy, utilizing their revolutionary ProTide technology, to generate a chemotherapeutic medicine with drastically enhanced efficacy, in order to improve its potency and scientifically examine its uses as a cancer drug.
- In October 2020, The Centre for Cellular and Molecular Biology (CCMB) in Hyderabad announced the development of a new COVID-19 immunity booster. Clone Deals, a CCMB Atal Incubation Centre firm, has developed a nutraceutical called CoronAid, powdered cordyceps militaris, a rare anti-oxidant-rich mushroom found in the Himalayan region, is combined with curcumin, the active ingredient in turmeric, to make an oral suspension.
(Get 15% Discount on Buying this Report)
Get Sample Copy of Cordyceps Market at: https://orionmarketreports.com/request-sample/?id=102273&submit=Request+Sample%0D%0A
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Nature
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– The Lubrizol Corp., Shanghai Kangzhou Fungi Extract Co., Ltd., Naturalin bio-resources Co., Ltd., Sunnycare Inc., and Nutra Green Biotechnology Co., Ltd., among others.
A full report Cordyceps Market of is available at: https://orionmarketreports.com/cordyceps-market/102273/
Global Cordyceps Market Report by Segment
By Type
- Cordyceps Sinensis
- Cordyceps Militaris
By Application
- Pharma and Healthcare
- Food Additives
- Dietary Supplements
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
