Meglumine Market Size, Share, Growth, and Global Industry Analysis, By Type (Diatrizoate, Iothalamate, Iodipamide), By Application (Cosolvent, Contrast agent and Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

MEGLUMINE MARKET REPORT OVERVIEW

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The global meglumine market size is USD 11 million in 2022 and is projected to touch USD 16.92 million by 2031, exhibiting a CAGR of 4.1% during the forecast period.

Meglumine is a white crystalline powder with the molecular formula C₇H₁₇NO₅. Its molecular mass is 195.214 gmol^-. It is soluble in water, slightly soluble in ethanol, almost insoluble in chloroform. It has a melting point between 128℃ to 132℃. The boiling point is 490.4ºC at 760 mmHg. Its density is 1.375gcm^3- and has a taste of sweet and salty astringent. It can be stored in powder form at -20°C for 3 years and at 4°C for 2 years. In solvent form it can be stored at -80°C for 6 months and -20°C for a month.

It is an amino sugar derived from sorbitol. It is also known as methylglucamine. It is an organic compound and belongs to hexosamines. They are monosaccharides which have a sugar unit consisting of six-carbons. It is a weak acid. It is widely known in pharmaceuticals by its types. It is also a radiopaque compound used in studying x-rays. The different uses of this compound facilitates the growth of the global meglumine market.

COVID-19 Impact: Travel Bans Hampered Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with it experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the meglumine market growth and demand returning to pre-pandemic levels once the pandemic is over.

Globally, the COVID-19 pandemic's consequences are already being seen, and this has had a big impact on the market. The COVID-19 outbreak had a detrimental effect on a number of markets. Lockdowns were implemented in several nations. All types of enterprises and chemical plants experienced disruptions as a result of the rapid outbreak. Various industries were affected by the pandemic's restrictions, and this was one among them. A halt in production operations had an impact on meglumine demand. Pharmaceuticals were greatly impacted by the pandemic, which led to the establishment of work-from-home policies. Complete lockdown was required due to the infection's propagation, which had a detrimental effect on consumer demand and market expansion.

LATEST TRENDS

"Capability of Diagnosing Different Diseases to Improve Market Growth"

As a diagnostic drug for gastrointestinal radiography, it can be used for the diagnosis of vascular diseases, biliary tract disorders, renal and urinary tract disorders, and disc and joint disorders. It is also used as a contrast agent in the diagnosis of joint and disc diseases, contrast enhancers in computed tomography of the body, gastrointestinal disorders and heart diseases. It is absorbed in small amounts through the gastrointestinal tract. Its binding to plasma proteins is low and if the kidney is functioning normally, its plasma half-life is 30-60 minutes. These uses urge the pharmaceuticals to increase production rate. Such demands are expected to pose an opportunity for the meglumine market growth during the forecast period.

MEGLUMINE MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into diatrizoate, Iothalamate, Iodipamide.

Diatrizoate is the leading part in the type segment.

• By Application

Based on application; the market is divided into cosolvent, contrast agent and the others.

Cosolvent is the leading part in the application segment.

DRIVING FACTORS

"Uses in X-rays to Increase Meglumine Production"

The meglumine market share is anticipated to increase with the increase in the uses of this compound particularly in the hospitals. Diatrizoate meglumine is the salt form of diatrizoate, an organic, iodinated, radiopaque X-ray contrast medium used in diagnostic radiography. The iodine moiety of this is non-penetrable by X-rays, therefore blocks the tissues from the X-ray film exposure by radiation. This makes it possible to distinguish on X-ray film, body parts that contain this drug from body parts that do not contain this agent and allows for visualization of different body structures. This drug proved its efficiency in the field of medicine. Such demand from the health sector is anticipated to drive the market.

"Product’s Ability to Cure Diseases to Lead Market Growth"

Visceral leishmaniasis, also known as kala-azar or black fever, is the most severe form of leishmaniasis and, without proper diagnosis and treatment, is associated with high fatality. Leishmaniasis is a disease caused by protozoan parasites of the genus Leishmania. This created a huge demand for this compound in the industry. Meglumine antimoniate can be used to treat an infection called leishmaniasis. There are several other diseases also which can be cured with the help of this drug. This helps the pharmaceuticals to produce more of the drug to satisfy its need in the market. Such companies are anticipated to drive the market growth during the forecast period.

RESTRAINING FACTORS

"Side Effects of the Drug to Impede Market Growth"

The Iothalamate meglumine cannot be directly applied to the spine. Very bad and sometimes deadly allergic reactions have rarely happened. Serious health problems, paralysis, and death have happened when contrast has been given into blood vessels in the spinal cord.  blood clots can happen with iothalamate type when used with some procedures. Sometimes, blood clots may cause heart attack and stroke, which may be deadly. Thyroid problems can also occur after use of diatrizoate and iodipamide meglumine. Since it is given in the cervix by the doctor, blood in urine and bladder irritation are also its side effects. Any patients with a history of asthma cannot use this drug. These factors restrict the growth of the meglumine market.  

MEGLUMINE MARKET REGIONAL INSIGHTS

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"Europe to Dominate Market due to its Climatic Conditions"

Europe holds the largest part of the meglumine market share due to the largest countries such as Spain, Germany having its leading producers. The demand for the drug is attributed to the ability of it to be used to treat various diseases. These countries also can have the climatic conditions that are suitable for the storage of this drug. New production facilities for this compound also contributed to the growth in the establishment of various manufacturer companies to facilitate the market growth in the region.     

KEY INDUSTRY PLAYERS

"Market Players to Expand Market Growth"

The report presents data about the rundown of market players and their activities in the business. The data is gathered and announced with appropriate examination, mechanical turns of events, acquisitions, consolidations, growing creation lines, and organizations. Different perspectives analyzed for this market incorporate organizations delivering and presenting new offices, districts they lead their tasks in, robotization, innovation reception, limit, creating the most over the top income, and having an effect with their items.

List of Market Players Profiled

•  Merck (New Jersey, U.S.)
• Tianma (Yunnan, China)
• Libang Healthcare Group (Shaanxi, China)
• New Hualian Pharm (Shanghai, China)

REPORT COVERAGE

This examination conveys a report with broad examinations that take into portrayal of the organizations that exist in the market influencing the estimating time frame. Additionally, the report reveals insight into the extensive serious scene of the global market. The report further offers a dashboard outline of driving organizations enveloping their fruitful promoting procedures, extension, market commitment, late improvements in both memorable and present settings. With investigations done, it additionally offers an exhaustive examination by reviewing the variables like division, potential open doors, modern turns of events, patterns, development, size, shares, drivers, restrictions, and others. This examination is dependent upon future developments assuming that the central participants and plausible investigation of market elements changes.