This study covers the market dynamics and trends in major countries that are expected to influence the current market scenario and future status of the Global Pharmaceutical Grade Lactose Market over the forecast period.
Pune, India -- (SBWIRE) -- 01/23/2018 -- MarketResearchFuture.com adds "Pharmaceutical Grade Lactose Market -2017 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023" reports to its database.
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The report titled "Pharmaceutical Grade Lactose Market -Forecast to 2023? is a direct appreciation by Market Research Future of the market potential of the Pharmaceutical Grade Lactose Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today's winner takes all market! It is estimated that pharmaceutical grade lactose market is expected to grow at a CAGR of 4.1% during the forecast period 2017-2023.
Market scenario of the Pharmaceutical Grade Lactose Market:
Pharmaceutical grade lactose is a specialized grade of lactose meeting the rigid pharmaceutical and food industry expectations such as customized range to use in various oral solid dosage forms (OSDFs) such as tablets, capsules, sachets, dry powder inhalers and others.
Market dynamics of Pharmaceutical Grade Lactose Market:
The market for pharmaceutical grade lactose is critically driven by factors such as growing industrial base especially the pharmaceutical and food industry. Increasing approval from government bodies to use pharmaceutical grade lactose as an excipient is another key factor driving the market. According to the 2017 updated inactive ingredient database by FDA, lactose is approved to be used as an excipient for different dosage forms. Many pharmaceutical grade lactose are also included in medicines licensed in the U.K such as, lactose powder manufactured by LFA tablet presses. Due to broad availability and cost effectiveness, lactose is getting great acceptance across the world.
Other factors driving the market are growing demand for safe drugs and foods, growing nutrition industry, rising awareness. Price is a major consideration for the market especially in the developing regions as the market is fragmented with a large number of players which has put pressure on the price.
The constraints faced by the market are lactose-induced health complications, stringent government regulations, lack of compatibility of pharmaceutical grade lactose with amine based drugs which may hinder the growth of the market. According to a study published in the Revista Mexicana de Ciencias (Mexican Journal of Sciences) in 2015, lactose has propensity to react with primary and secondary amine drugs through Maillard reaction to produce colored products. The market is also facing high threat of substandard and spurious products with dubious claims. Contamination and presence of impurities are other threats which has resulted in reduced credibility for the market.
Key Players of Pharmaceutical Grade Lactose Market:
Some of key the players in the market are BASF SE, Merck KGaA, Kerry Inc. DFE Pharma, Meggle, Armor Pharma, ALPAVIT and others.
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Segmentation of Pharmaceutical Grade Lactose Market:
The pharmaceutical grade lactose market is segmented on the basis of type, and application. On the basis of type, the market is segmented into crystalline monohydrate lactose, inhalation lactose, granulated lactose, spray dried lactose, and others. Crystalline monohydrate lactose is further segmented into ?-Lactose monohydrate, and ?-Lactose (anhydrous lactose). Sub-segmentation of ?-Lactose monohydrate includes milled, and sieved. Inhalation lactose is further segmented into sieved, and milled.
On the basis of application, the market is classified into tablets manufacturing, capsule manufacturing, and others. Tablets manufacturing is further classified into direct compression, wet granulation, and dry granulation. Capsule manufacturing is further classified into capsules, sachets, and others.
The pharmaceutical grade lactose market is expected to reach USD 229.48 million by 2023 at a CAGR of 4.1%. On the basis of application, tablets manufacturing market is expected to command the largest market share of 52.1% over the review period and it is also expected to grow at the fastest CAGR of 4.3% during the forecast period 2017-2023. Europe hold the largest share of the pharmaceutical grade lactose market and is expected to reach USD 94.289 million by 2023. Asia Pacific is the fastest growing market, which is expected to grow at a CAGR of 4.4% over the 2017-2023.
Regional Analysis of Pharmaceutical Grade Lactose Market:
On the basis of regions, the pharmaceutical grade lactose market is segmented into Europe, Asia Pacific, America, and the Middle East & Africa.
Europe has accounted for the major share of the market. Europe is a large producer of dairy products which gives it an edge in lactose production. Europe is also blessed with regulations which has favoured quality over quantity and made the industry global.
Asia Pacific accounts for the second largest and fastest growing pharmaceutical grade lactose market owing to the improving health infrastructure, and developing pharmaceutical industry. According to the Indian Brand Equity Foundation (IBEF), in 2016 the generics market of India stood at USD 26.1 billion. Asia Pacific consists of regions namely Japan, China, India, Australia, Republic of Korea, and rest of Asia Pacific. However countries such as China and India are expected to have the largest market due to their large population and large pharmaceutical base.
The Middle East and Africa holds the least share in the market owing to the presence of poor and slow developing countries, especially, in African region. These economies also lack the production capacity and produce only low grade products which must be exploited by players from other regions.
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