Pharmaceutical Grade Lactose Market

The global pharmaceutical grade lactose market size was valued at USD 217.5 million in 2020 and is anticipated to expand at a CAGR of 4.5% during the forecast period, 2021-2028. The growth of the market is attributed to the increasing product demand for infant formulation which has excellent characteristics such as iron absorption, production of cytokines, and immune cell activation.
 

Pharmaceutical grade lactose is a form of disaccharide sugar comprising of glucose and galactose subunits. Lactose has been finding multiple health benefits in the fields of strong calcium content contributing to strong bone structures for the host and protein and calcium supplements used by gym and fitness enthusiasts. Lactose has a mild flavor along with easy handling properties leading it to the usage of stabilizers and carriers for pharmaceutical and aroma products. Pharmaceutical grade lactose does not undergo fermentation by yeast for the brewing process, meaning this can also be used for beverage serving purposes. It has also found in various industrial applications.

According to the World Health Organization or the WHO, along with the Centers for Disease Control and Prevention or the CDC, 30% of the total world population do not have access to lactose nutrients and another 15% of the population are unable to digest lactose and use substitute variants for nutrition. The COVID-19 pandemic has reduced the growth of the global pharmaceutical grade lactose market. Researchers and scientists were not able to understand the relationship between the coronavirus and pharmaceutical grade lactose. People have started to become more accustomed to indoor activities involving long hours of binge watching, with very limited physical activities. There has been a significant decrease in the usage of lactose products in the pandemic period. Therefore, the analysts believe that once the COVID-19 pandemic is controlled and when hospitals will be functioning at maximum efficiency, people would increase their usage in lactose products thereby fueling the growth of the global pharmaceutical grade lactose market.

Market Trends, Drivers, Restraints, and Opportunities

• Increase in spending and investing by the companies towards pharmaceutical grade lactose is the primary reason for the projection of boosting the market growth during the forecast period, 2021-2028.
• Rapid growth of the biopharmaceutical companies and thereby that industry can become a major factor in the boosting of the pharmaceutical grade lactose market during the forecast period.
• High prices for the development of pharmaceutical grade lactose and high cost of services from the company’s perspective is anticipated to hinder the pharmaceutical grade lactose market growth.
• Lactose products when used in high frequencies, especially with no medical inspection can also be harmful for the host including nausea, diarrhea, and uneasiness in the stomach. This uncertainty can hamper the pharmaceutical grade lactose market growth.
• R&D investment and technological advancement are expected to offer significant opportunities for the market players. Researchers have found sustainable methods to produce cost-effective setups for the manufacturing facilities of pharmaceutical grade lactose.

Scope of the Report

The report on the pharmaceutical grade lactose market size includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Pharmaceutical Grade Lactose Market Segment Insights

Suppliers segment is projected to represent a large market share
Based on shareholders, the pharmaceutical grade lactose market is divided research organizations, traders, importers, exporters, suppliers, and industry end-users. The suppliers segment is expected to constitute the major share in 2019 and is anticipated to grow with a significant CAGR during the forecast period, 2021-2028. The major reason attributing to this market growth is the increase in demand for lactose products, particularly pharmaceutical grade lactose products. The awareness of the benefits of lactose consumption increased the demand for these products, making suppliers the most important shareholder in the supply chain cycle.
 

Europe is anticipated to dominate the market
On the basis of regions, the pharmaceutical grade lactose market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Europe is expected to constitute a major share of 41.9 % in 2020. This regional market growth can be attributed to the growing research & development expenditure along with the rising in adoption of the latest technology. The cost of expenditure is significantly lower in Europe than that of other economies. However, the market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period, 2021-2028, as they have prioritized the cost-efficiency perspective of cold plasma combined with their growing population.
 

Segments

Segments Covered in the Report
The pharmaceutical grade lactose market size has been segmented in terms of

Shareholders

• Research Organizations
• Traders
• Importers
• Exporters
• Suppliers
• Industry End-Users

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• GlaxoSmithKline plc
• Pfizer Inc.
• Bayer AG
• Sanofi
• Merck & Co. Inc.
• Bristol-Myers Squibb Company
• Abbott
• Novartis AG
• Johnson & Johnson Services Inc.
• Gilead Sciences Inc.
• Astellas Pharma Inc.

Competitive Landscape

Major players competing in the pharmaceutical grade lactose market are GlaxoSmithKline plc; Pfizer Inc.; Bayer AG; Sanofi; Merck & Co. Inc.; Bristol-Myers Squibb Company; Abbott; Novartis AG; Johnson & Johnson Services Inc.; Gilead Sciences Inc.; and Astellas Pharma Inc. These market players are involved in several business strategies such as mergers, acquisitions partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. The United States Environmental Protection Agency announced a partnership with Pfizer Inc. to develop more than 50 self-sustainable manufacturing facilities which will be cost effective in nature, and a trail run has been initiated in the United States of America. If this project is successful , Pfizer Inc. has promised to expand this activity to over 30 countries in the world.