Pharmaceutical Grade Lactose Market Global Industry Share, Size, Key Country Outlook, Manufacturers Landscape, Growth, And Regional Forecast 2023

The Global Pharmaceutical Grade Lactose Market is Expected to Exhibit a Strong 4.1% CAGR over the Forecast Period from 2018 to 2023, According to the Latest Research Report from Market Research Future (MRFR). The Report Forecasts that the Global Pharmaceutical Grade Lactose Market will Reach a Valuation of USD 229.48 Million by 2023.

Pharmaceutical Grade Lactose Market – Highlights

The global Pharmaceutical Grade Lactose Market is mainly driven by the growing demand for pharmaceutical grade lactose in tablet and capsule making, apart from the growing demand for powdered pharmaceutical grade lactose in inhalers. The report delivers a complete overview of the global pharmaceutical grade lactose market by providing a thorough analysis of the market’s historical growth trajectory. The major drivers and restraints influencing the global pharmaceutical grade lactose market are also studied in the report. Major economic factors occurring in the pharmaceutical grade lactose market’s immediate environment and having an impact on the market’s growth are profiled in the report. Key players operating in the global pharmaceutical grade lactose market are also studied in the report.

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Pharmaceutical grade lactose is widely used in the preparation of dry powder inhaler products, as the powder used in dry powder inhalers needs to be of a high quality in order to be used in pharmaceutical applications. The growing prevalence of respiratory disorders and allergies has driven the demand for inhaler products, thus driving the demand from the pharmaceutical grade lactose market. The growing prevalence of COPD and asthma in developed nations is likely to be major driver for the pharmaceutical grade lactose market over the forecast period. Developing countries are also likely to be a major regional market for dry powder inhalers in the coming years, as awareness regarding dry powder inhalers is growing in these regions. The pharmaceutical grade lactose market is likely to develop strongly over the coming years due to the growing demand for inhalers.

The growing demand for medical capsules and tablets is also likely to be a key driver for the pharmaceutical grade lactose market over the forecast period. Growing healthcare infrastructure in developing parts of the world such as Asia Pacific and Latin America is likely to be a major driver for the global pharmaceutical grade lactose market over the forecast period.

Pharmaceutical Grade Lactose Market – Key Players

BASF SE, Merck KGaA, Kerry Inc. DFE Pharma, Meggle, Armor Pharma, ALPAVIT, and others are some of the prominent players at the forefront of competition in the pharmaceutical grade lactose market and are profiled in MRFR Analysis.

Competitive Analysis:

Leading players in the global pharmaceutical grade lactose market include ALPAVIT, Armor Pharma, Meggle, DFE Pharma, Kerry Inc., Merck KGaA, and BASF SE. Product innovation and research is likely to be a major avenue for players in the global pharmaceutical grade lactose market to pursue over the forecast period. As a result of the growing prevalence of respiratory diseases, the demand for inhaler products has grown rapidly in the last few years. This is likely to be a major driver for the pharmaceutical grade lactose market over the forecast period. Merger and acquisition activity is also likely to be high in the global pharmaceutical grade lactose market over the forecast period, as leading players are likely to counteract potential competition by acquiring smaller players showing promise in the early stages of development. Inorganic growth is likely to remain a major growth channel for players in the global pharmaceutical grade lactose market over the forecast period.

In September 2019, CVC Strategic Opportunities announced an acquisition of a 50% share in DFE Pharma, a German manufacturer of excipients, including pharmaceutical grade lactose.

Segmentation:

The global pharmaceutical grade lactose market is segmented on the basis of type, application, and region.

By type, the global pharmaceutical grade lactose market is segmented into crystalline monohydrate lactose, inhalation lactose, granulated lactose, spray-dried lactose, and others. The crystalline monohydrate lactose segment is further sub-segmented into alpha-lactose monohydrate and beta-lactose (anhydrate). The alpha-lactose monohydrate segment is further segmented into milled and sieved. The inhalation lactose segment is also further sub-segmented into milled and sieved.

By application, the global pharmaceutical grade lactose market is segmented into tablets, capsules, and others. Tablet manufacturing accounted for the largest share in the global pharmaceutical grade lactose market in 2017 and is likely to dominate the global market over the forecast period.

Regional Analysis:

Europe holds the largest share in the global pharmaceutical grade lactose market, followed by Asia Pacific, which accounts for close to a third of the global market. The Asia Pacific market is expected to exhibit the fastest growth rate over the forecast period.

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