Lanthanum Carbonate Market Report Overview
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The global lanthanum carbonate market size was USD 551.5 million in 2022 and is projected to touch USD 915.93 million by 2031, at a CAGR of 5.8% during the forecast period.
The sudden surge in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
It is a phosphate-binding agent that is free of aluminum and calcium and is used to control phosphate levels in patients with renal insufficiency. This drug is used to treat end-stage kidney disease by lowering phosphate levels. High phosphate levels can make it difficult for your body to absorb calcium, which can lead to serious medical problems.
Lanthanum carbonate acts as a binder mainly in pharmaceutical activities or pharmacies. It's used to bind prescription drugs that would be hard to form into solid dosage forms or else, like enteric-coated tablets or delayed-release capsules. It is used in hospitals as a calcium supplement. It aids in the prevention and treatment of low calcium levels in the blood. It can also be administered via an IV line. This means that it is injected into a vein via a tube. Overdose symptoms include adverse reactions such as headache, nausea, and vomiting. It is not acutely toxic to animals when administered orally.
It is advised to take the drug at least one hour before or after taking any other medications. It can make it more difficult for the body to absorb other medications taken orally.
COVID-19 Impact: Halt on Chemicals and Advanced Materials Production to Hamper Market Growth
COVID-19 affected almost all the industries and markets globally, which slowed down economic growth and altered consumer purchasing patterns. National and international travel was hampered as a result of lockdowns applied in several nations, which greatly disrupted the supply chain of numerous sectors around the world, consequently increasing the supply-demand gap. As a result, the limited availability of raw materials supplies hampered the production rate of this drug, which negatively impacted the market growth. To prevent the spread of the coronavirus, governments around the world imposed strict lockdowns. This caused a slowdown in manufacturing operations as well as supply and transportation restrictions, affecting the market.
Even though the global market had been affected due to the pandemic, increased demand is anticipated after the pandemic as industrial operations resume.
Latest Trends
"Increase in the Usage of Lanthanum Carbonate for Various Chronic Diseases to Drive the Market Growth"
Lanthanum carbonate is used to treat end-stage kidney disease by lowering phosphate levels. It effectively reduces phosphate absorption from the gastrointestinal tract by forming and excreting highly insoluble complexes with phosphate in foods. Patients with progressive Chronic Kidney Disease (CKD) often suffer from bone abnormalities and extra-skeletal calcifications, which lead to increased cardiovascular risk. Because diet and dialysis are frequently insufficient to control serum phosphorus levels, many patients require phosphate binders. It is used since it has reduced the risk of hypercalcemia and several other diseases.
Lanthanum Carbonate Market Segmentations
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- By Type
The market is classified into 1000mg, 750mg, and 500mg on the basis of type. The 1000mg segment will lead the market share through 2031.
- By Application
The market is classified into Hospital and Pharmacy on the basis of application. Hospitals will lead the market share through 2031.
Driving Factors
"Rise in Demand for Lanthanum Carbonate to Drive the Market Growth"
The global market is growing due to increased demand from various application segments and increased awareness about the advantages of using the drug over other alternatives. Furthermore, leading players' expansion of key production facilities is expected to drive the market during the forecast period. It aids as the best drug in controlling end-stage kidney diseases which drives the lanthanum carbonate market growth.
"Reduction of Chronic Diseases to Drive the Market Growth "
Lanthanum carbonate also reduces the phosphorous burden in patients with chronic kidney diseases which is another factor why people prefer using this drug instead of any other binders or drugs thereby driving the market growth. This drug is a useful non-calcium, non-resin phosphate binder for hyperphosphatemia control in Chronic Kidney Disease (CKD) stage 5 dialysis patients. Most of the drugs used for the treatment of kidney diseases cause a lot of side effects which vary from mild to severe. In this case, this drug act as the most effective medicine with fewer side effects, thereby making patients more reliable towards this.
Restraining Factors
"Adverse Side Effects of Lanthanum Carbonate to Hamper the Market Growth "
The rising concerns due to lanthanum accumulation in tissues during long-term oral administration is one of the restraining factors for the lanthanum carbonate market growth. Despite its effectiveness in lowering the levels of serum phosphorous, metal-based binder, there are concerns about lanthanum accumulation in tissues during long-term oral administration. Just like aluminum, lanthanum gets absorbed in the through the intestine and accumulated in the bodily tissues, particularly the bone, liver, kidney, muscle, and brain. Furthermore, chronic renal failure increases the rate of lanthanum absorption in the intestine.
Lanthanum Carbonate Market Regional Analysis
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"Asia Pacific Leads in the Production of Lanthanum Carbonate owing to Easy Raw Material Availability"
Due to the easy availability of raw materials, Asia Pacific is the world's leading producer and consumer of the drug, and thus holds the majority of the lanthanum carbonate market share. Increased demand for lanthanum in the medical and pharmaceutical industries in Asia Pacific countries such as China and India is expected to drive the region's market. The expansion of the health industry in the Asia Pacific is expected to drive the market even further, as lanthanum is used to treat a variety of diseases with minimal side effects.
North America is the second-largest market globally, due to the presence of a large number of drug manufacturing units and hospitals. Rising demand for phosphate binder alternatives with fewer side effects is predicted to increase the usage of this drug in these sectors.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Shire Pharmaceuticals (U.S.)
- Bayer Health Care (Germany)
- Dr. Reddy's Laboratories (India)
- Micro Labs (India)
- Wockhardt (India)
- Panacea Biotec (India)
REPORT COVERAGE
In the report, factors affecting the market from both demand and supply are evaluated and market dynamics during the forecast period are also forecasted. Also included in the report is a comprehensive PEST analysis of countries, which assesses the governmental, financial, and shared factors influencing their markets. Apart from all of these, the report also provides drivers, restraints, opportunities, and future trends.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 551.5 Million in 2022 |
Market Size Value By |
US$ 915.93 Million by 2031 |
Growth Rate |
CAGR of 5.8% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the global lanthanum carbonate market expected to touch by 2031?
The global lanthanum carbonate market is expected to reach a value of USD 915.93 million by 2031.
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What CAGR is the lanthanum carbonate market expected to exhibit by 2031?
The lanthanum carbonate market is expected to exhibit a CAGR of 5.8% by 2031.
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Which are the driving factors of the lanthanum carbonate market?
The increased demand and increased awareness about lanthanum carbonate over other alternatives are some of the major driving factors of the global lanthanum carbonate market.
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Which are the top companies in the lanthanum carbonate market?
The top companies in the market include Shire Pharmaceuticals, Bayer Health Care, Dr. Reddys Laboratories, Micro Labs, Wockhardt, and Panacea Biotec.