The global ammonium bituminosulfonate market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Ammonium bituminosulfonate is used to treat various skin diseases such as eczema, psoriasis, acne rosacea, and acne, and to reduce microorganisms in the area around the skin. The increase in the prevalence of the chronic disease has created a demand for the development of new ointments for its treatment which in turn drives the global ammonium bituminosulfonate market growth. In addition, leading healthcare companies are focusing on the development ofointment treatment. Furthermore, the market growth is driven by the strong focus of the healthcare companies and research organizations on the R&D for ammonium bituminosulfonate creating a strong pipeline for effective uses of ointment treatment.
However, the harmful effects of ammonia on human health and increased awareness of its harmful effects will pose a major challenge to market growth. Strict rules and regulations regarding the use of ammonia will also create barriers to market growth. Fluctuations in the price of natural gas will also affect the rate of market growth.A growing focus on energy consumption will directly and positively impact the demand for ammonia. Increased use of ammonia in fertilizers and agricultural products coupled with the growth and expansion of the fertilizer sector is one of the major factors contributing to market growth. The growing demand and demand for ammonia in the refrigerator will also create market-paying opportunities. Rising personal income earnings are another indication of indirect market growth.
Some major players in the market include Shanghai Shikangte Pharmaceutical, Shanghai Kaibao Pharmaceutical, Guangdong Hengjian Pharmaceutical, Eisai Co. Ltd., Eli Lilly & Co., Takeda Pharmaceutical Co. Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market.For instance, in July 2021, the UK government launched the process of selecting eight new hospitals in the region, as part of the largest hospital-building program. Through this program, the government is providing support to the NHS to fulfill its obligation to build 40 new hospitals across England by 2030, a step based on an initial investment of $ 4.18 billion. Developments like these, coupled with an increase in cancer research activities in such areas, will add tremendous impetus to the growth of the ammonium bituminosulfonate industry during the forecast period.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape-Shanghai Shikangte Pharmaceutical Inc., Shanghai Kaibao Pharmaceutical Inc., Guangdong Hengjian Pharmaceutical, Inc., Eli Lilly & Co., Takeda Pharmaceutical Co. Ltd., among others.
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Global Ammonium BituminosulfonateMarket Report by Segment
By Type
- Ear Drops
- Ointments
By Application
- Furuncle Swollen
- Psoriasis, Eczema
- Cervicitis
- Vaginitis
- Lymph Node Phlogistic
- Thrombophlebitis
- Chronic Ulcer
- Dermatitis
- Other
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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