Rapid increase in population in regions like Asia Pacific, Europe, and North America is one of the major factors that is anticipated to contribute to the demand products such as pharmaceutical & healthcare, dietary supplements, functional food, functional beverages, cosmetic & personal care, and more. High content of omega 3 and omega 6 in lipids is the primary factor driving the significant use of it in food & beverage products.
Additionally, the rising global prices of fatty acids and other raw materials act as a barrier to the market growth globally. These price fluctuations are a repercussion of the impact of the COVID-19 and the ongoing European geopolitical conflict. In North America, the price of fatty acids fluctuated in the first quarter of 2022 on the account of decline in demand for fatty acids from personal care, cosmetic, and food industry. Furthermore, American fatty acids manufacturers had to face supply shortages from Asian countries.
However, the market players are focusing on R&D and are coming with new advancements in the Lipid Nanoparticles technology, which in turn is projected to create lucrative opportunities for the market in the near future.
Factors such as the increasing demand for medicines due to high incidence of cancer, chronic diseases, as well as growing focus on physical well-being are expected to propel the sales of pharmaceutical lipids over the analysis period.
Pharmaceutical excipients aid lipids to achieve better functionalities, such as longer shelf-life, and boosts the efficacy in formulations. In addition, rising demand in emerging economies is pushing local drug production, which is augmenting the sales in the market. Also, manufacturers are investing in research and development to formulate specific products to tap into the market.
Moreover, advancements are creating lucrative avenues for the market expansion in the compositions of lipid nanoparticles for in-vivo systemic delivery of mRNA. For instance, as per the National Cancer Institute (NCI), by 2030, there will be 23.6 million new instances of cancer annually, making it one of the top causes of death in the world.
The key manufacturing companies in the lipid nanoparticles market are focusing on developing lipid nanoparticle (LNP) based drugs, in order to address certain medical challenges. In addition, they are focusing on collaborations with government organizations to establish new lipid production facilities. This has led to a rise in demand for nanomaterials and lipid-based carriers globally.
The major players are investing high for product development activities and their approach towards enhancing the business through product launch and acquisition is projected to fuel the growth of global pharmaceutical lipids market in the forthcoming years.
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