A trial conducted in 2017 found a protective role of niacinamide, derivative of niacin, against skin cancer recurrence. However, there is no epidemiologic study to assess the association between niacin intake and risk of skin cancer.1 In 2015, another study investigated that prevention of common skin cancers and precancers is possible by taking a vitamin B3 oral supplement twice daily. The pill cut the rate of new squamous-cell and basal-cell skin cancers by 23% compared with placebo after one year, among patients at high risk for skin cancer.2 These results were achieved in individuals who previously had skin cancer and were thus at high risk for new skin cancers.2 The results do not apply to other patient populations.
On the back of their anti-ageing properties, niacinamide-based cosmetic and skincare formulations, is gaining momentum. As a result, the market will nearly double to reach a valuation of $1.6 billion by 2027, as these attributes will help to position niacin and niacinamide as a miracle supplement in the near future. This report discourses that with heightened uptake by pharmaceutic and skincare product formulators, the global niacin and niacinamide market is projected to register a growth of over 5% over the forecast period (2019-2027).
Add-on potential for dialysis patients
Majority of patients affected with end-stage renal disease are found to develop hyperphosphatemia. According to a study, in the near future, niacin is most likely to become an inexpensive and a patient-convenient, add-on therapy for phosphorus management in dialysis patients. Study notes that there will be an upsurge in the demand for niacin and niacinamide over the next ten years, fueled by its attributes of enhanced safety and clinical benefits.
Key takeaways from the niacin and niacinamide markets:
- Animal nutrition accounts for over half of the market revenue due to high demand of niacin in animal nutrition on the premise of limiting medical conditions such as ketosis.
- Nutricosmetic, or cosmeceutical, application held a nominal share within the niacin and niacinamide markets in terms of value. However, with key players exploring newer application areas within the cosmetic industry, nutricosmetics will be the most lucrative application over the long-term forecast with a robust CAGR of 7%.
- With more than $50 billion being invested annually toward oncology R&D, the use of niacin and niacinamide for cancer treatment will provide an upswing to its market
- Market research states that studies over the past half-decade have shown adverse side-effects associated with niacin and niacinamide. To mitigate adverse effects, market players, including Jubilant Life Sciences and Lonza Group, are pioneering research efforts to reduce the side effects of niacin.
- The Asia Pacific, excluding Japan, region is expected to rise with the fastest CAGR over the long term forecast period of 2019-2027 due to surging prevalence of lifestyle diseases such as metabolic dysfunction and obesity.
References
1. Li, T. et al. (February, 2017). Niacin intake and risk of skin cancer in US women and men. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5937269/
2. Starr, P. (August, 2015). Oral Nicotinamide Prevents Common Skin Cancers in High-Risk Patients, Reduces Costs. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4570055/
