The global magnesium gluconate market size is expected to witness potential gains in the future, and register a significant CAGR of 2.9% over the forecast period (2019 - 2027).

Market Overview

Magnesium gluconate is the magnesium salt of gluconic acid. It is used as a mineral supplement for magnesium in blood. It is also a food additive that acts as an acidity regulator. It is used as a firming agent and a yeast nutrient. Magnesium gluconate is better absorbed and causes less diarrhea and is therefore preferred as a magnesium supplement. It also finds application in personal care products such as deodorizing hair & body wash, face lotion, and glycerin bar soap.

Market Dynamics

Increasing prevalence of gastrointestinal disorders, diarrhea, and kidney disease is expected to boost growth of the global magnesium gluconate market. Gastrointestinal disorders, prolonged vomiting or diarrhea, kidney disease, or certain other conditions may lead to low blood magnesium. Magnesium gluconate acts as a supplement for magnesium in blood. It also helps to prevent pregnancy-induced hypertension and premature uterine contractions. Magnesium gluconate can be consumed orally and is available in tablet and liquid form.

However, high doses of magnesium from dietary supplements or medications may lead to diarrhea along with nausea and abdominal cramping. Magnesium gluconate is not prescribed to patients with renal impairment as consumption may lead to hypermagnesaemia. It may also restrict absorption of other medicines such as antibiotics, Paget's disease of bone therapies, osteoporosis medication, and thyroid medication. Such factors may hinder growth of the global magnesium gluconate market.

Market Outlook

Among regions, Asia Pacific is projected to be witness the highest CAGR over the forecast period. This is owing to increasing incidences of gastrointestinal disorders, diarrhea, and kidney disease in the region. North America is expected to account for major market share, owing to presence of major pharmaceutical companies in the region.

Key Players

Key players in the market are focused on conducting preclinical trials for use of magnesium gluconate for the treatment of hypomagnesemia. For instance, in June 2019, Trivedi Global, Inc. announced results from preclinical trials on the advantageous effect of biofield energy treatment on enhancing physicochemical properties of magnesium gluconate for the treatment of hypomagnesemia.

Some of the major players operating in the global magnesium gluconate market include, Taizhou Yojoy Chemical Co., Ltd., Ferguson (Wuhan) Biotechnologies Ltd., Hongkong Yuancheng Saichuang Technology Co., Ltd., Xi'an Miracle Biotechnology Co., Ltd., Henan Xingfa Bio-Technology Co., Ltd., Shandong Penglai Marine Bio-Tech Co., Ltd., Hangzhou Dayangchem Co., Ltd., and Generichem Corporation.

Key Developments:

  • In May 2019, according to an article published by India Brand Equity Foundation, pharmaceutical industry in India was valued at US$ 33000 Million in 2017 and generic drugs (such as magnesium glutamate) account for 20% of the total drugs exports, making India the largest generic drugs supplier in India. Increasing exports of generic drugs from India is expected to propel the growth of magnesium gluconate in the country.
  • In June 2017, according to National Institute of Health (NIH), Magnesium acts as essential mineral for over 300 enzyme related actions in the body and it is suitable to include magnesium gluconate as a dietary supplements as well as medicines such as laxatives and antacids. Increasing use of magnesium gluconate in the medical sector is expected to drive the growth of magnesium gluconate during the forecast period.
  • In March 2016, according to the research paper published on National Center for Biotechnology Information, U.S National Library of Medicine, magnesium and potassium glucomate helps to regulate the cardiovascular functions of the body and it is mainly used in a drug named – “Rhythmocor”. Growing demand of magnesium glucomate from the cardiovascular drug industry is set to propel the magnesium glucomate globally.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
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  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
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Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

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Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
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Data Processing

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Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
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  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
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