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The recent years have registered an increase in the adoption of corosolic acid across various regions. This is mainly driven by a surge in product deployment in the healthcare sector for the treatment of numerous ailments.
According to Business Research Insights, the global corosolic acid market size was USD 4 million in 2022 and is expected to hit USD 5 million in 2028. The industry is set to grow at a CAGR of 5.2% from 2022 to 2028. The market growth is being impelled by a range of benefits offered by the naturally occurring compound.
Corosolic acid is found in high concentrations in Banaba, a green leafy plant found in the Pacific region. The compound is available in various formulations such as tablets, capsules, hypoglycemic food products, cosmetics, and others.
Increasing Product Usage in the Treatment of Diabetes
Studies advocate that gluconeogenesis (involving corosolic acid) can have a positive effect on the levels of blood glucose in the body. The compound has a long half-life in the body which enhances the effectiveness of dosing for a period of 24 hours. The compound has a good safety profile with the possibility of an allergic reaction.
Apart from this, Banaba plant is conventionally used in Southeast Asian countries for type 2 diabetes. This is attributed to the activity of eligatannis and corosolic acid. Furthermore, Banaba has also been studied for anti-obesity and antioxidant effects. It has been found that the acid from Banaba leaves helps in the enhancement of cellular glucose uptake and the regulation of carbohydrate metabolic pathways.
In addition, it also helps in the regulation of peroxisome proliferator-activated receptors α and γ and the inhibition of disaccharide hydrolysis. Besides, the effects of the compound on lipid and glucose metabolism may be useful in the management of metabolic syndrome.
Surge in Research Activities to Propel Product Deployment
The product demand is driven by an increase in research activities. Considering an instance, a research team from the University of the Philippines Diliman and Herbanext Laboratories, Inc. joined forces for a research project supported under the TUKLAS LUNAS Program of the Philippine Council for Health Research and Development (PCHRD).
The collaboration was aimed at formulating a standardized herbal supplement from Banaba’s aqueous and ethanolic extracts. The formulation was standardized against corosolic acid and ellagic acid. An increase in similar initiatives is touted to favor industry expansion over the forecast period.
Cancer Treatment to Emerge as a Major Application Area
The compound is expected to gain footing in the area of cancer treatment. Studies depict that corosolic acid exhibits cytotoxic activity against a range of human cancer cell lines. In one such study, the compound helped antagonize the morphological modification of K-562 leukemic cells. Experts opine that the action mechanism for the same could be associated with the suppression of protein kinase C activity.
Asia Pacific Market to Lead Owing to Banaba Availability: A Brief Overview
In terms of revenue, the Asia Pacific region is expected to emerge as the leading market over the estimated period. The surge is due to the availability of Banaba in various Asian countries such as Philippines, Southern China, Indonesia, Malaysia, and the Indian subcontinent. Both flowers and leaves of the plant contain corosolic acid, which is known for its anti-inflammatory properties. However, the leaves that are used in modern applications.
Major Industry Players: An Overview of the Vital Initiatives Adopted to Strengthen Market Growth
Leading participants in the industry are centered on the adoption of a series of strategic initiatives for the consolidation of their market position. These include merger agreements, acquisitions, and the launch of new products. Other initiatives comprise an increase in research activities and rising participation in health conferences.
Some of the key companies in the market have been enlisted below:
1. Vital Herbs (India)
2. Shaanxi Yi An Biological Technology (China)
3. Shaanxi Herbchem Biological (China)
4. Staherb Natural Ingredients (China)
5. Vidya Herbs (India)
6. Ambe Phytoextracts (India)
7. Bio Actives Japan Corporation (Japan)
8. Optimum Herbal Extracts (India)
9. Sanat Products (India)
10. SUNTREE (China)
These companies are also striking a range of collaborations and partnership agreements for the expansion of product reach. The initiatives are also expected to help in increasing the geographical footprint of these market participants.
Way Ahead
In the years to come, the industry is expected to depict notable traction across various regions. This is likely to be impelled by an increase in the number of diabetic patients and rising product usage in the treatment of various diseases such as cancer. Additional factor impelling market expansion is the growing consumption of acid skin treatments across various regions. However, corosolic acid could affect patients with sensitive skin. This aspect is likely to hinder the industry expansion to some extent.