Drug Price Trends for FT MAGNESIUM CITRATE SOLUTION

Average Pharmacy Cost for FT MAGNESIUM CITRATE SOLUTION

These are average pharmacy acquisition costs (net of discounts) from a US national survey

Drug Name	NDC	Price/Unit ($)	Unit	Date
FT MAGNESIUM CITRATE SOLUTION	70677-1111-01	0.00748	ML	2024-12-18
FT MAGNESIUM CITRATE SOLUTION	70677-1112-01	0.00748	ML	2024-12-18
FT MAGNESIUM CITRATE SOLUTION	70677-1112-01	0.00777	ML	2024-11-20
FT MAGNESIUM CITRATE SOLUTION	70677-1111-01	0.00777	ML	2024-11-20
FT MAGNESIUM CITRATE SOLUTION	70677-1111-01	0.00729	ML	2024-10-23

FT MAGNESIUM CITRATE SOLUTION Market Analysis and Financial Projection

Global Magnesium Citrate Market Analysis and Price Projections

Introduction to Magnesium Citrate

Magnesium citrate is a versatile compound with a wide range of applications, including pharmaceuticals, food and beverages, and personal care products. It serves as a preservative, acidity regulator, and emulsifier in the food industry, and as a treatment for hypomagnesemia in the healthcare sector[4].

Market Size and Growth Projections

The global magnesium citrate market is anticipated to experience significant growth over the forecast period.

• Market Size in 2023: The market was valued at approximately USD 50.77 million to USD 55.2 million in 2023[1][5].
• Forecasted Market Size: By 2030, the market is projected to reach USD 63.30 million to USD 72.91 million, depending on the source[1][5].
• Compound Annual Growth Rate (CAGR): The market is expected to grow at a CAGR of 3.2% to 3.5% from 2024 to 2030 or 2031[1][5].

Segmentation of the Magnesium Citrate Market

The market is segmented based on several criteria:

By Type

• Anhydrous Type: Known for its easy-to-use nature and increasing accessibility.
• Nonahydrate Type: Used in various industrial applications.
• Others: Includes other forms of magnesium citrate[1][2].

By Application

• Nutrient Supplement: Used as a dietary supplement for health benefits.
• Food & Beverage Industry: Acts as a preservative, acidity regulator, and emulsifier.
• Pharmaceutical Industry: Used in medications for treating hypomagnesemia and other conditions.
• Others: Includes applications in cosmetics and personal care products[1][2][4].

By Product Type

• Powder: Commonly used in food and pharmaceutical applications.
• Liquid: Used in solutions and beverages.
• Tablet: Used in dietary supplements.
• Others: Includes soft gels, capsules, etc.[1][2].

Regional Analysis

The global magnesium citrate market is spread across various regions:

• North America: Holds a significant share, with the United States being a major market[2].
• Europe: Expected to hold the highest share due to the substantial turnover of the EU food and drink industry[4][5].
• Asia Pacific: Countries like India, China, and Japan are driving growth due to the expansion of the healthcare and food processing sectors[1][5].
• Middle East and Africa: Growing demand from countries like South Africa and the GCC.
• South America: Countries like Brazil and Argentina contribute to the market growth[1][2].

Drivers of Market Growth

Several factors are driving the growth of the magnesium citrate market:

Expansion of the Pharmaceutical Sector

The rapid expansion of the healthcare sector, particularly in regions like India where the healthcare sector is growing at a CAGR of 22%, is a significant driver. Magnesium citrate is used to treat and reduce the risk of hypomagnesemia in patients with various conditions[4][5].

Food and Beverage Industry Growth

The food and beverage sector is another major driver. The EU food and drink industry generates a substantial turnover, and the Indian food processing segment is expected to reach USD 470 billion by FY2025[4][5].

Increasing Health Awareness

Increasing awareness about the health benefits of magnesium citrate, including its role in managing neurological and psychological conditions, is boosting its consumption[3][5].

Price Projections

While specific price projections for magnesium citrate are not provided, several factors indicate potential price trends:

• Increasing Demand: Rising demand from the healthcare and food sectors is likely to maintain or increase prices.
• Production Costs: Fluctuations in raw material costs or production expenses could influence the final product price.
• Market Competition: The presence of multiple key players may lead to competitive pricing strategies, but overall market growth suggests that prices are likely to remain stable or increase slightly[4].

Key Players

The market is dominated by several key players:

• Jungbunzlauer: Known for its high-quality magnesium citrate products.
• Global Calcium: A significant player in the calcium and magnesium compounds market.
• Gadot Biochemical Industries: Offers a range of biochemical products, including magnesium citrate.
• Dr. Paul Lohmann: A leading manufacturer of mineral salts and citrates.
• Other Players: Include Penglai Marine, Dongtai Food Ingredients, Yunbo Chemical, Xiyang Chemical, and Hengheng Fine Chemical[2][5].

Future Market Scenario

The future of the magnesium citrate market looks promising, driven by several factors:

• Health Awareness: Increasing awareness about the health benefits of magnesium citrate will continue to drive its consumption.
• Industrial Applications: The use of magnesium citrate in industrial applications, such as in personal care products for pH balancing and preservation, will also contribute to market growth[4][5].

"According to global magnesium citrate market analysis, increasing awareness about various benefits offered by magnesium citrate in management of neurological and psychological conditions is boosting its consumption for management of such conditions, positively influencing the growth of the market."[5]

Key Takeaways

• The global magnesium citrate market is projected to grow at a CAGR of 3.2% to 3.5% from 2024 to 2030 or 2031.
• The market is driven by the expansion of the pharmaceutical and food and beverage sectors.
• Increasing awareness of the health benefits of magnesium citrate is a significant growth driver.
• The market is segmented by type, application, and product type, with key regions including North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
• Key players in the market include Jungbunzlauer, Global Calcium, and Gadot Biochemical Industries.

FAQs

1. What is the projected CAGR for the global magnesium citrate market from 2024 to 2031?

• The global magnesium citrate market is projected to witness a CAGR of 3.2% to 3.5% during the forecast period 2024-2031[1][5].

2. Which sectors are driving the growth of the magnesium citrate market?

• The growth is driven by the rapid expansion of the pharmaceutical sector and the increasing demand from the food and beverage industry[4][5].

3. What are the primary applications of magnesium citrate?

• Magnesium citrate is used as a nutrient supplement, in the food and beverage industry as a preservative and acidity regulator, and in the pharmaceutical industry for treating various health conditions[4].

4. Which region is expected to hold the highest share in the magnesium citrate market?

• The European region is expected to hold the highest share in the magnesium citrate market[4].

5. What is the expected market size of the magnesium citrate market by 2031?

• The market is expected to grow to USD 72.91 million by 2031[5].

Sources

1. Maximize Market Research: Magnesium Citrate Market: Global Analysis and Forecast 2024-2030[1].
2. Valuates Reports: Global Magnesium Citrate Market Insights, Forecast to 2030[2].
3. Market Research Intellect: Rising Demand for Digestive Health Solutions Propels Magnesium Citrate Market Forward[3].
4. Drug Patent Watch: Drug Price Trends for MAGNESIUM CITRATE SOLUTION[4].
5. MarketsandData: Magnesium Citrate Market: Global Analysis and Forecast 2031[5].