Widespread use in pharmaceutical production for taste modification ingredient stability and drug release applications, are major factors supporting growth in the pharmaceutical lactose industry. The pharmaceutical lactose market is estimated to display a moderate rate of over 3% CAGR throughout the duration of the assessment period from 2021 to 2031. Significant interest in the uses of pharmaceutical lactose through inhalation, owing to superior patient outcomes, which will support demand throughout the coming decade. Applications as a taste modifier to improve palatability and resultant improvements to dosage compliance is a key contributor to long-term growth.
“The applications of pharmaceutical grade lactose in the production of tablets has played a key role in the developments of the global pharmaceutical grade lactose market. Pharma-grade lactose has proven to reflect healthy healing properties which is a key reason behind use drug development and adoption in the healthcare sector,” says the FMI study.
Pharmaceutical Lactose Market – Primary Takeaways
- α-Lactose monohydrate products will reflect higher demand owing to its application as an excipient for dry drug formulations.
- S. will continue to hold major market share supported by a mature pharmaceutical sector.
- Government investments towards drug development initiatives will generate strong demand in China.
- Improvements in drug delivery technologies support the growth of the market in Spain and France.
Pharmaceutical Lactose Market – Growth Factors
- Rising preference for personalized medicine and preventive healthcare are supporting adoption rates.
- International and regional investments into drug development projects is driving demand.
- Potential for applications in low cost generic medicine for chronic ailments generates opportunities.
Pharmaceutical Lactose Market – Major Constraints
- High levels of competitiveness in the market, and availability of substitute materials limit profitability and hurt growth prospects.
- Strict governing regulations and high capital requirements will hurt the entry of potential new players.
Expected Impact on Market by Coronavirus Outbreak
The global pharmaceutical lactose market has gained key opportunities for growth in the ongoing covid-19 pandemic. Despite the threat of disrupted supply chains for raw materials, arising from restrictions on movement, increased levels of health awareness has boosted adoption. In addition increased demand for pharmaceutical products since the onset of the pandemic has boosted overall demand.
Growth of the industry is likely to be steady through 2021 and in years to come, with investments into research and development for drug development applications. In addition, applications of pharmaceutical lactose in the nutraceutical sector will continue to prove advantageous for manufacturers even after the end of the pandemic.
The top manufacturers taking part in the pharmaceutical lactose market include but are not limited to MEGGLE Excipients & Technology, Ba’emek Advanced Technologies Ltd., BASF SE, Hilmar Ingredients, Milei GmbH, Armor Pharma, Kerry plc, Avantor Inc., Merck KgaA, Alpavit Käserei Champignon Hofmeister GmbH & Co. KG, Hoogwegt Groep B.V., Lactose (India) Limited, and DFE Pharma.
Major pharmaceutical lactose manufacturers are engaged in strategies involving the expansion of their production capacities and product portfolios with mergers, acquisitions, and product development endeavors.
In January 2021, Parag Milk Foods Ltd. announced its plans to expand into the health & nutrition sector, with the commissioning of a lactose plant accounting for a daily 40 MT capacity, which will be produced under pharmaceutical grade standards. Foremost Farms USA Cooperative announced the sale of its pharmaceutical lactose business to Kerry Group based in Sheffield. Also, Sheffield Bio-Science initiated production of anhydrous and monohydrate forms of lactose in US, under FDA approved facilities.
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More on the Report
FMI provides in-depth insights on the pharmaceutical lactose market. The market is segmented in terms of product type (B-lactose, α-Lactose monohydrate, amorphous lactose, and spray dried lactose), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).