The U.S. Sodium lactate market for pharmaceutical industries is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 12.2% in the forecast period of 2021 to 2028 and expected to reach USD 48.57 million by 2028.
Sodium lactate is sodium salt of lactic acid. It is also called monosodium salt and lactic acid sodium salt. In pharmaceutical industry, sodium lactate is given intravenously as a source of bicarbonate for regulating or preventing mild to moderate metabolic acidosis in patients with limited oral ingestion whose oxidative processes are not seriously impaired. Sodium lactate is also used to treat arrhythmia caused by overdosing of class I antiarrhythmic, as well as sympathomimetic which can cause hypertension.
Increasing trend of using sodium lactate by Pharma Company and rising CAPD procedures in the U.S, Use of sodium lactate in topical dermatological products, and use of metal sequestration in pharma products are the major drivers which propelled the demand of the market in the forecast period. However, presence of substitute in the market, high cost of application using sodium lactate, and product recall of lactated products may hinder the market growth. Sodium lactate market is growing rapidly but it may face challenges due to lack of skilled workforce in pharma industry, sustainability issues with sodium lactate raw material.
The companies have increased their production capacities & various agreements between the companies help the growth of sodium lactate market for pharmaceutical industry. However, the side effects related to sodium lactate such as pulmonary edema, dehydration, among others may restrain the market growth.
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The sodium lactate market for pharmaceutical industries report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Sodium Lactate Market for Pharmaceutical industries Scope and Market Size
Sodium lactate market for pharmaceutical industries is segmented on the basis of dosage form, population type, application, end user and distribution channel. The growth among segments helps you to analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of dosage forms, the sodium lactate market for pharmaceutical industries is segmented into injection, solution, and concentrate. In 2021, solution segment is expected to dominate the market growth due to large use of solution in the hospitals, and in ambulatory surgicals centres, leading to increased demand for these products in the forecasted period.
- On the basis of population type, the sodium lactate market for pharmaceutical industries is segmented into pediatrics, and adults. In 2021, adults segment is expected to dominate the market growth due to rising cardiovascular disease & serious electrolyte disorders among adults.
- On the basis of end user, the sodium lactate market for pharmaceutical industries is segmented into hospitals, home healthcare, clinics, and others. In 2021, hospitals segment is expected to dominate the market growth due to availability of necessary healthcare services & infrastructure.
- On the basis of distribution channel, the sodium lactate market for pharmaceutical industries is segmented into direct tender, retail sales, and others. In 2021, retail sales segment is expected to dominate the market growth due to surge in number of suppliers.
Sodium Lactate Market for Pharmaceutical Industries Country Level Analysis
The sodium lactate market for pharmaceutical industries is analysed and market size information is provided by dosage form, population type, application, end user, and distribution channel.
The country covered in sodium lactate market for pharmaceutical industries report is U.S.
The U.S. sodium lactate market for pharmaceutical industries is growing primarily due to increasing trend of using sodium lactate by Pharma Company, rising CAPD procedures in the US, increasing demand of chiral intermediates, and use of metal sequestration in pharma products.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as sales, FDA approvals, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global branded and generic drug manufacturers and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Use of Sodium Lactate in Topical Dermatological Products is Propelling the Market Growth
Sodium lactate market for pharmaceutical industries also provides you with detailed market analysis for every country growth in sodium lactate for pharmaceutical industries with sodium lactate sales, impact of advancement in the sodium lactate and changes in regulatory scenarios with their support for the sodium lactate market for pharmaceutical industries. The data is available for historic period 2011 to 2019.
Competitive Landscape and Sodium Lactate Market for Pharmaceutical Industries Market Share Analysis
Sodium lactate market for pharmaceutical industries competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to sodium lactate market for pharmaceutical industries.
The major players covered in the report are AdvaCare pharma, Pfizer Inc, Viatris Inc, Corbion, Dr. Paul Lohmann GMBH & CO.KGAA, Baxter, and B.Braun Melsungen AG.
DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch, approval, partnership and agreement are also initiated by the companies’ worldwide which are also accelerating the sodium lactate market for pharmaceutical industries.
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For instance,
- In September 2020, Viatris Inc, a combined company of Mylan and Pfizer Inc. received EU approval. Moreover, the company also achieved approval from Australian competition, consumer commission, and New Zealand commission that have strengthened its proposal of company establishment. This approval allowed the company launches new company that is positioned to meet patients need.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the warts treatment market which also provides the benefit for organisation to improve their offering for sodium lactate market for pharmaceutical industry.
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