According to Future Market Insights’ latest analysis, the global pharmaceutical lactose market size is expected to reach US$ 222.6 million in 2023 and further expand at 5.8% CAGR throughout the forecast period (2023 to 2033). Overall sales of pharmaceutical lactose are projected to total a valuation of US$ 392.3 million in 2033.
Rising application of lactose as an ideal excipient across thriving pharmaceutical sector is a prominent factor driving the global market forward. Similarly, increasing prevalence of chronic diseases, development of new medicines, and increased investment in research & development are expected to facilitate expansion of the worldwide pharmaceutical lactose industry.
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Over the years, lactose has become one of the most commonly used excipients in the pharmaceutical sector for producing a wide range of solid dosage forms. It finds application as a binder, carrier, or diluent and helps pharmaceutical companies to produce tablets of sufficient hardness.
Rising production and consumption of solid dosage forms such as capsules and tablets is expected to boost pharmaceutical lactose demand during the forecast period. Subsequently, growing demand for dry powder inhalation products will create growth opportunities for pharmaceutical lactose manufacturers.
Various forms of lactose i.e., α-lactose monohydrate, β-lactose, amorphous lactose, and spray dried lactose are being employed for manufacturing drugs.
Increasing healthcare awareness, especially across developing regions, growing popularity of preventive healthcare, and rising healthcare spending are expected to further expand the pharmaceutical lactose market size over the next ten years.
Key Takeaways from the Pharmaceutical Lactose Market Study:
- Pharmaceutical lactose market is projected to surge at a CAGR of about 5.8% over the next ten years in Mexico.
- By product type, α-lactose monohydrate segment will continue to lead the global pharmaceutical lactose market during the forecast period.
- The United Kingdom pharmaceutical lactose market is anticipated to exceed a valuation of US$ 184.8 million by 2033.
- The USA is anticipated to hold around 78.3% share of North America pharmaceutical lactose market in 2023.
- Mexico is poised to hold around 5.3% of the global pharmaceutical lactose market by 2033.
Who is Winning?
DFE Pharma, Ba’emek Advanced Technologies Ltd (Tnuva Group), Avantor, Inc., Alpavit Käserei Champignon Hofmeister GmbH & Co. KG, Lactose (India) Limited, Hoogwegt Groep B.V., Hilmar Ingredients, Armor Pharma, Merck KgaA, Kerry plc, Milei GmbH, BASF SE, MEGGLE Excipients & Technology are few of the leading companies present in the global pharmaceutical lactose market.
Key pharmaceutical lactose companies are focusing on partnerships and joint ventures to expand their product portfolio and strengthen their supply chain.
Get Valuable Insights into Pharmaceutical Lactose Market
Future Market Insights, in its new offering, provides an unbiased analysis of the pharmaceutical lactose market presenting historical demand data (2018 to 2022) and forecast statistics for the period from (2023 to 2033). The study divulges compelling insights on the demand based on product type (β-Lactose, α-Lactose monohydrate, Amorphous lactose, Spray dried lactose) and region.
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Pharmaceutical Lactose Market by Category
Product Type:
- β-lactose
- α-Lactose monohydrate
- Amorphous Lactose
- Spray Dried Lactose
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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