Cloud based technologies are being implemented in drug manufacturing. Continuous developments in cloud based drug discovery platforms is expected to largely contribute to the growth of the global market for pharmaceutical lactose market. According to a new study by Future Market Insights (FMI), the pharmaceutical lactose market will reach US$ 605.9 Mn by 2021. Focus on research and development among drug manufacturers is consistently increasingly, in turn creating opportunities for the expansion of the market.
Development of advanced manufacturing processes, technological innovations to produce quality medicines that are consistently safe and effective, have fueled pharmaceutical manufacturing. Recently, various drug shortages have been reported, leading to expansion of drug production facilities with advanced technologies. This will accelerate drug production and narrow down the supply-demand gap.
The ongoing expansion of production facilities with advanced technology accelerates the consumption of pharmaceutical lactose and is expected to lead to pharmaceutical lactose market growth across the globe
FMI’s report on the market for pharmaceutical lactose provides forecasts the demand for α-Lactose monohydrate to be considerably high. As a result of its increasing application in excipients, the market will continue registering impressive growth. FMI has forecast the product category to account for over half of sales recorded in the market through the forecast period.
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Key Takeaways from Pharmaceutical Lactose Market Report
- Pharmaceutical lactose sales will show improvement by 0.2% between 2020 and 2021
- Backed by presence of a sophisticated healthcare infrastructure, the U.S. will account for over 60% of sales in North America
- The U.K. will remain a strong market for sales within Europe, exhibiting 4.4% Y-o-Y growth in 2021
- Germany and France will offer attractive growth opportunities driven by increasing focus on improving healthcare
- Government support to aid expansion in Japan, South Korea, and China
“Innovation has become a key factor in recent times as there is a continuous need for developing something new. This demand has resulted in pharmaceutical lactose manufacturers focusing increasingly on expansion of their R&D facilities in a way that can support innovations in line with the demand from the end-use manufacturers. For this reason, all types of companies of pharmaceutical lactose, be it small, medium, or large, are increasingly investing in research and development. A significant amount of the sales revenue is being used for the funding of research and development, “says FMI analyst.
Innovations in Drug Discovery Services to Present Growth Opportunities
The use of artificial intelligence in drug discovery sector is enhancing the productivity of the process. It is being increasingly adopted to discover novel biological targets to develop new medications by carrying out comparison of exhaustive data collected from the tissue samples of healthy ad diseased individuals. Increasing number of huge pharmaceutical giants such as are exploring the use of artificial intelligence via alliances with start-up companies, the main aim being to predict and analyze molecular behavior for the development of a useful medicine. The penetration of AI in pharmaceutical leads to new drug discovery and amps up the demand of pharmaceutical lactose.
Who is Winning?
Some of the key players operating in the pharmaceutical lactose market are Avantor, Inc., Ba’emek Advanced Technologies Ltd (Tnuva Group), Koninklijke FrieslandCampina N.V., Armor Pharma, Hilmar Ingredients Inc., Hoogwegt Groep B.V., Kerry Group plc, Lactose (India) Limited, Merck KGaA, BASF SE, Milei GmbH, Alpavit Käserei Champignon Hofmeister GmbH & Co. KG, and other playes.
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Key players of pharmaceutical lactose are focusing on new product launches, partnership, acquisition, mergers, and joint venture to expand its product portfolio as well as to strengthen its distribution channel.
- In 2019, Kerry Group launched Aero Flo brand inhalation grades of lactose. Aero Flo® brand inhalation grades of lactose have been specifically developed for use in dry powder inhalers for pulmonary delivery of pharmaceuticals.
- In 2019, LBB Specialties signed a strategic partnership deal with Meggle for the distribution of Meggle’s Pharmaceutical Lactose excipients, including lactose for inhalation formulations, in the United States.
Get Valuable Insights into Pharmaceutical Lactose Market
Future Market Insights, in its pharmaceutical lactose report, presents an unbiased analysis of the global pharmaceutical lactose market, covering demand data and forecast figures for the period between 2021 and 2031. The study divulges compelling insights into growth witnessed in the pharmaceutical lactose market. Based on product type the pharmaceutical lactose market can be segmented into Β-Lactose, α-Lactose monohydrate, Amorphous lactose, and Spray dried lactose. Regionally, the pharmaceutical lactose market covers North America, Latin America, Europe, East Asia, South Asia and Oceania and Middle East & Africa (MEA).