Dublin, Dec. 08, 2023 (GLOBE NEWSWIRE) -- The "Pharmaceutical Grade Lactose Market Size, Share & Trends Analysis Report By Type (Crystalline Monohydrate Lactose, Inhalation Lactose, Granulated Lactose, Spray Dried Lactose), By Region, And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global pharmaceutical grade lactose market size is expected to reach USD 2.81 billion by 2030, as per the new report by the publisher. The market is expected to expand at a CAGR of 5.4% from 2023 to 2030. This is attributable to the growing demand for novel medicines across the globe. Novel medicines, also known as new or innovative medicines, refer to pharmaceutical products that are newly developed and differ significantly from existing medications. These medicines often involve breakthrough discoveries or advancements in medical science and technology. Novel medicines may include biologics, new chemical entities (NCE), targeted therapies, gene therapies, and immunotherapies. The development of such novel medicines and drugs is driven by a high level of R&D activities being carried out by various drug manufacturing companies around the world. 
Additionally, pharmaceutical formulations often require various excipients and manufacturers have a range of options to choose from alternative excipients that offer similar functionality and cost advantages may compete with the product, reducing its market demand. For example, according to JRS PHARMA, EMDEX shows great potential as a viable alternative to spray-dried lactose, as it exhibits comparable characteristics in terms of powder and tableting properties.
The pharmaceutical-grade lactose industry is characterized by intense competition, with multiple companies vying for market share and supplying the product to a wide range of end-users globally. To achieve a competitive edge, it is essential to focus on product launches, expansion, and research and development initiatives. As a result, leading manufacturers operational in the market strive to obtain high level of dominance by undertaking numerous initiatives.
Pharmaceutical Grade Lactose Market Report Highlights
- The spray dried lactose segment emerged as the fastest growing application segment with a CAGR of 6.0% from 2023 to 2030, due to its ability to enhance the solubility and bioavailability of various pharmaceutical compounds
- North America emerged as the fastest growing region with a CAGR of 5.8% from 2023 to 2030, the advancing end-use industry, coupled with research & development activities in key countries such as the U.S. and Canada, is anticipated to drive the demand for the product in the region over the forecast period
- MEGGLE GmbH & Co. KG expanded its distribution network through agreements with exclusive distributors. For instance, it partnered with Barentz for the distribution of its pharmaceutical grade lactose in the U.S. These strategic initiatives are anticipated to collectively enable the company to continue playing a major role in the market
- Kerry Ingredients India Private Limited and Lactose (India) Limited mutually agreed to terminate their contract for lactose co-manufacturing professionally and amicably. This decision was made in alignment with the strategic goals of both companies to focus on their respective core competencies while continuing to foster a positive and collaborative relationship for future opportunities
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.84 Billion |
| Forecasted Market Value (USD) by 2030 | $2.81 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Companies Mentioned
- ARMOR PROTEINES
- BASF Corporation
- Charotar Casein Company
- DFE Pharma
- Fengchen Group Co., Ltd
- Kaserei Champignon Hofmeister GmbH & Co. KG
- Kavya Pharma
- Kerry
- Lactalis Ingredients
- Lactose (India) Limited
- MEGGLE GmbH & Co. KG
- Royal FrieslandCampina
- Surfachem Group Ltd
For more information about this report visit https://www.researchandmarkets.com/r/st18iq
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