4 June 2020: The pharmaceutical grade lactose market is witnessing considerable growth due to increase in infant population across the regions. It also has quality characteristics such as immune cell activation and iron absorption, and produces cytokines, driving the growth of the market in the coming years.
Pharmaceutical grade lactose is used while manufacturing capsules and pharmaceutical tablets as fillers. Number of support initiatives from government bodies and rising awareness about usage of pharmaceutical grade lactose are the factors promoting growth of the market. It is also used as drug formulation, in nanotechnology, and also an excipient in drugs as it is efficiently compatible with other active ingredients.
Support from the Various Government Bodies Promote Market Growth
On the basis of region, Europe held the largest market share due to the presence of a well-established healthcare sector and outsourcing of pharmaceutical products. Factors likely to propel growth of the market are product development and innovation due to different initiatives undertaken by regional governments.
Increasing demand for infant formula is expected to fuel the industry growth in North America. Government policies motivating and supporting the regional players to increase investment is anticipated to encourage growth of the pharmaceutical grade lactose in the coming years.
In developing countries such as India and China, increasing birth rate has resulted in high demand for the pharmaceutical grade lactose. Low labor costs and lack of stringent government regulations are factors responsible for increased production. Efforts to provide affordable medicines by governments and prevalence of chronic diseases are anticipated to drive the market in Central and South America over the forecast period.
Market Insights
Leading Companies are keen to expand their portfolio by employing various strategies such as collaborations, joint ventures, new product development, partnerships, and agreements in order to strengthen their market presence. Major players are inclined to focus on new strategies and are investing in R&D to gain a competitive edge in the market.
Leading market players of the pharmaceutical grade lactose market include Kerry Inc.; Merck KGaA; BASF SE; ALPAVIT; BASF SE; Meggle; Armor Pharma; Novartis AG; Sigma-Aldrich Corporation; GlaxoSmithKline plc; Bayer AG, Abbott Laboratories; AstraZeneca plc; and DFE Pharma.
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