Latest News- Lactobionic Acid Market: Powder is expected to lead the Formulation segment during 2025-2029

The Lactobionic Acid Market is being driven by High prevalence of skin disorders

The Lactobionic Acid Market is expected to grow at a CAGR of 7.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1564.6 million. The lactobionic acid market is witnessing robust expansion, primarily due to the escalating utilization of biosimilars in the pharmaceutical industry. A pivotal advancement in this domain is the European Commission's approval of Sandoz's high concentration formulation (HCF) of Hyrimoz (adalimumab), a biosimilar, in April 2023. Sandoz, a renowned player in the generic and biosimilar medicines sector, secured marketing authorization for its citrate-free HCF of Hyrimoz, which comes in a 100 mg concentration. This authorization encompasses all therapeutic indications of the reference biologic, including rheumatic diseases, Crohn's disease, ulcerative colitis, plaque psoriasis, uveitis, and hidradenitis suppurativa. This regulatory achievement signifies the burgeoning acceptance and integration of biosimilars into conventional medical treatments. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Formulation
  • Powder
  • Solution
• End-user
  • Cosmetics
  • Pharmaceutical
  • Food
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• High prevalence of skin disorders
• Increasing sales of cosmetic and beauty products
• Rising incidence of organ transplantation

However, the market also witnesses some limitations, which are as follows:

• Stringent regulatory guidelines
• Availability of viable substitutes
• High production costs

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Market Scope in Lactobionic Acid Market Research Report

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Research Analysis Overview

Lactobionic Acid, a bioactive component, plays a significant role in various industries including medicine and cosmeceuticals. In medicine, it functions as an organ preservation agent and keratinizing ingredient. In cosmetics, it serves as a gelling agent, acidifier, and antioxidant for skin care products. It also exhibits anti-aging effects and iron-chelating capabilities. Lactobionic Acid is derived from natural, plant-based sources and is eco-friendly. Its antioxidant properties help neutralize hydroxyl radicals, making it ideal for use in functional foods, nutraceuticals, and skincare lines. The production of Lactobionic Acid involves biotechnology, catalytic hydrogenation, and oxidation processes. It is also used in electrolysis as an additive.

Market Research Overview

The global specialty chemicals market encompasses businesses specializing in high-value-add chemicals utilized in the production of various industries, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio, the market size is determined by the consolidated revenue generated by these manufacturers. Key growth drivers for the specialty chemicals market include the increasing preference for specialty adhesives and sealants. These materials are increasingly sought after due to their versatility and superior performance in various applications, particularly in medicine, cosmeceuticals, and biodegradable products. In the medical industry, specialty chemicals play a crucial role in organ preservation and anti-aging applications. In the cosmetics sector, they function as keratinizing ingredients, gelling agents, and acidifier agents. Furthermore, the dairy industry and meat products benefit from the use of specialty chemicals as acidifiers. The market's expansion is expected to continue during the forecast period, fueled by the increasing demand for these high-performance materials in diverse industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/