The global pharmaceutical grade phycocyanin market size is expected to grow from USD 33.0 million in 2020 to USD 50.5 million in 2027 , at a CAGR of 6.3% from 2021 to 2027. Phycocyanins belong to the family of phycobiliproteins.It is a blue pigment protein that emits fluorescent, a water-soluble photosynthetic accessory pigment in cyanobacteria and certain red algae.Phycocyanin can be extracted from Arthrospira platensis.Factors such as growth in the pharmaceutical industry, surge in demand for phycocyanin for cancer diagnosis, and increasing demand for immune enhancing function are expected to cater to the development of the global pharmaceutical grade phycocyanin market.In addition, there has been an increasing demand for pharmaceutical grade phycocyanins in their development and utilization as potential drugs.The shift from chemicals to naturally extracted products for developing drugs to treat various ailments has led to a growth in the market due to the side effects of these chemicals.Furthermore, marine products have experienced significant development and utilization in recent years.They have a novel lead compound for critical illness, which has accumulated marine-extracted phycocyanin in pharmaceuticals.Get the PDF for more Professional and Technical insights: https://www.marketstatsville.com/request-sample/pharmaceutical-grade-phycocyanin-marketWith the increasing incidence of different cancer conditions globally, pharmaceutical companies and scientists are focusing on natural phycocyanins to develop anti-cancer drugs and treatments.Phycocyanin exerts anti-cancer activity by blocking tumor cell cycle, inducing apoptosis and autophagy, thereby increasing the pharmaceutical grade phycocyanin market.The increase in the number of cancer patients will drive the demand for interventional radiology, thereby driving market growth.For example, according to the Global Health Data Exchange, the total number of leukemia cases globally was around 323,913.03 in 2017 and rose to 334,592.26 in 2019. Thus, increasing cancer prevalence across the region will drive the growth of the pharmaceutical grade phycocyanin market.Although pharmaceutical grade phycocyanin offers high productivity and efficient operation, the technology used during manufacture adds to its initial price.In addition, the cultivation of S. platensis to produce phycocyanin can only be carried out by large-scale industries due to the high operating costs of synthetic media such as Zarrouk.For example, the average production cost of phycocyanin is US$ 249.70 kg−1;these figures encourage large-scale production.However, to reduce feedstock costs, conventional substrates such as Zarrouk can be converted using organic waste containing essential elements that can support S. platensis.In addition, organic waste from Anaerobic Digested Dairy Manure Waste (ADDMW) can be an inexpensive alternative medium for S. platensis.Besides that,The growing technological advances coupled with the increasing awareness of the advantages of pharmaceutical grade phycocyanins are significantly driving the growth of the market.In addition, increased R&D investment by many pharmaceutical companies is expected to drive market growth.For example, the expenditure of United States pharmaceutical companies on research and development was USD 79.6 billion in 2018 and has increased to USD 83 billion of expenditure by member pharmaceutical companies for R&D in 2019. Thus, increased pharmaceutical investment will create profitable growth of pharmaceutical grade phycocyanin market.You Can Purchase The Full Report: https://www.marketstatsville.com/buy-now/pharmaceutical-grade-phycocyanin-market?opt=2950This study categorizes the pharmaceutical grade phycocyanin market by type and application at regional and global levels.Based on the type, the pharmaceutical grade phycocyanin market has been segmented into C Phycocyanin and R Phycocyanin.The pharmaceutical grade phycocyanin segment accounts for the largest share of the global pharmaceutical grade phycocyanin market in 2020. C phycocyanin is widely used in cancer treatment and has wide applications for anti-cancer drug pipelines.As per the study of Ganter et al, when C-PC was combined with 10% of the standard dose of topotecan, prostate cancer cells (LNCaP) were killed at a higher rate than when topotecan was used alone in total amounts.C-PC consists of apoptosis through ROS generation and activation of caspase-9 and caspase-8.7.Access full Report Descriptions, TOCs, Figure Tables, Charts, etc: https://www.marketstatsville.com/table-of-content/pharmaceutical-grade-phycocyanin-marketBy region, the global pharmaceutical grade phycocyanin market has been segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa.Four main countries, namely, China, India, Japan and other Asia-Pacific countries, are analyzed in Asia-Pacific.Asia-Pacific holds the second position in the global pharmaceutical grade phycocyanin market.China accounted for a significant market share in 2020, and India is expected to experience rapid growth during the forecast period.China holds a significant share of the pharmaceutical grade phycocyanin market in terms of consumption and manufacturing.However, developing countries such as India, Hong Kong, Vietnam, Singapore, Thailand and others have been recognized as important markets due to the fast geriatric population and increasing number of cancer patients in the region.For example: according to the Global Health Data Exchange, the total number of leukemia cases in Vietnam was 14,135.9 in 2017 and rose to 14,920,2 in 2019. In 2017 about 2,482.9 liver cancer patients were found in the country, which has increased to 2,541.9 in 2019. Likewise, the total number of leukemia cases in Thailand was 26,932.5 in 2017 and rose to 30,123.7 in 2019. Thus, the increase in cancer prevalence across the region will drive the growth of the pharmaceutical grade phycocyanin market.Report Description Request: https://www.marketstatsville.com/pharmaceutical-grade-phycocyanin-marketPharmaceutical grade phycocyanins operating in the market include Wuli Lvqi, King Dnarmsa Spirulina, Japan Algae, EcoFuel Laboratories, DIC Corporation, Parry Nutraceuticals, Nan Pao International Biotech, Ozone Naturals, Zhejiang Binmei Biotechnology, and others.These players have adopted various winning strategies to get higher stakes or maintain a leading position in the marketYour email address will not be published.Required fields are marked *Save my name, email and website in this browser for my next comments.