The global pharmaceutical grade lactose market size was valued at USD 237.52 Million in 2022 and is expected to surpass USD 352.98 Million by 2031, expanding at a CAGR of 4.5% during the forecast period, 2023–2031. 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 glucose and galactose subunits. Lactose has multiple health benefits in the fields of calcium content contributing to strong bone structures for the host and protein supplements used by gym and fitness enthusiasts. The increasing demand for lactose in the manufacturing process of infant food is creating immense possibilities for the market in the coming years.
Lactose has a mild flavor along with easy handling properties leading it to the usage of stabilizers and carriers for pharmaceutical and aroma products. It has also been found in various industrial applications. According to the World Health Organization (WHO), along with the Centers for Disease Control and Prevention (CDC), 30% of the total world population does not have access to lactose nutrients and another 15% of the population is unable to digest lactose and use substitute variants for nutrition.
The market report finds that the COVID-19 pandemic has boosted the market demand, as the essential products and their manufacturing were not affected during that time. The demand for Dairy items was on top during the pandemic. Moreover, due to the shortage in the supply chain process, product prices went upward which resulted in a growth in the market.
- For instance, according to GlobalDairyTrade, there was a boost in the price of lactose which was USD 1390 by December 2021, as compared to USD 1087 in October 2020.
Pharmaceutical Grade Lactose Market Dynamics
Increase in spending and investment by the companies towards pharmaceutical grade lactose is the primary reason for the projection of boosting the market growth during the forecast period. 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 are 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 to 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 Pharmaceutical Grade Lactose Market Report
The market report 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 - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Shareholder (Research Organizations, Traders, Importers, Exporters, Suppliers, and Industry End-Users)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends, and Revenue Forecast
Key Players Covered in the Report
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.
Pharmaceutical Grade Lactose Market Segment Insights
Shareholder Segment Analysis
Based on shareholder, the pharmaceutical grade lactose market is divided into 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.
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.
On the basis of region, 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 adoption of the latest technology.
The cost of expenditure is significantly lower in Europe than that of other economies. However, the market in the Asia Pacific is anticipated to expand at a significant CAGR during the forecast period, as they have prioritized the cost-efficiency perspective of cold plasma combined with their growing population.
The pharmaceutical grade lactose market size has been segmented in terms of
- Research Organizations
- Industry End-Users
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- GlaxoSmithKline plc
- Pfizer Inc.
- Bayer AG
- Merck & Co. Inc.
- Bristol-Myers Squibb Company
- Novartis AG
- Johnson & Johnson Services Inc.
- Gilead Sciences Inc.
- Astellas Pharma Inc.
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 is expected to be cost-effective in nature, and a trial 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.