Press release
Sulfonamide Market Projected to Witness a Double-Digit CAGR During 2030
Sulfonamide is a functional group used in various drug formulation which is commonly known as sulpha drugs or sulfa drugs. It is among the first antimicrobial drug used in the treatment of bacterial infections in animals and humans. Sulfonamides act as antimetabolites which block purine and pyrimidine biosynthesis during the synthesis of folic acid, thereby inhibiting bacterial infection. Rising awareness on preventing disease, growing demand for functional food and increasing prevalence of the infectious disease worldwide drive the growth of sulfonamide market. Also, an increase in healthcare expenditure and increasing awareness about health-consciousness results in the growth of the global sulfonamide market and is projected to open new opportunities for the sulfonamide market in the coming future. The global market for sulfonamide is estimated to witness a healthy CAGR during the forecast period of 2020 to 2030.
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Sulfonamide Market: Market Dynamics
Increased usage of sulfonamide in treating infectious diseases and the rising popularity of functional food is the key factor augmenting the growth of sulfonamide market globally. Sulfonamide is commonly used in the treatment and prevention of numerous diseases such as bacterial infection, diabetes, HIV AIDS, urinary tract infection, and many more. Thus, an increase in the frequency of chronic disorders worldwide and increasing aging population leads to an increased sulfonamide consumption. Moreover, the ease of availability of various sulfonamide drugs at a reasonable price further contributes to the growth of the global sulfonamides market. Besides, growing R&D activities and government funding in healthcare sector results in the development of innovative and better-quality sulfonamides with enhanced therapeutic activity which further fuels the growth of global sulfonamide market over the forecast period. In addition, rapid development of sulfonamide based dietary supplements is likely to boost the growth of global sulfonamide market. However, side effects associated with sulfonamides such as dizziness, diarrhea, hypersensitivity, kernicterus, and nausea or vomiting and presence of potential substitutes with minor side effects such as macrolides, quinolones are likely to affect the growth of the global sulfonamides market.
Sulfonamide Market: Segmentation
Based on the function, the sulfonamide market is segmented as:
Antimicrobial
Hypoglycemic
Diuretic
Anti-epileptic
Anti-cancer
Anti-protozoal
Anti-inflammatory
Anti-retroviral
Based on the type, the sulfonamide market is segmented as:
Antibiotic
Non-antibiotic
Sulfonamide Market: Regional Outlook
Global sulfonamide market is divided into six regions including North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa (MEA). Among the regions mentioned above, sulfonamide is most commonly used in developing countries such as China, India, and ASEAN countries owing to its low prices and ease of availability. China and India with the largest population pool globally have witnessed a high frequency of diseased and infectious people resulting in the growth of sulfonamide consumption. In contrast, the usage of sulfonamide in developed countries has witnessed a downfall due to the seldom appear of sulfonamide in doctor’s prescription and growing awareness about the side effects of sulfonamide. North America is expected to witness steady growth over the forecast period due to growing awareness concerning sulfa drugs, well-developed healthcare infrastructure and presence of harmonized regulatory structure. Europe is likely to witness a similar trend as North America, with moderate growth over the coming years. Latin America is anticipated to grow higher than the global average growth leveraging the low-cost benefits of sulfonamide.
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Sulfonamide Market: Market stakeholders
Key market stakeholders in the global sulfonamide market are Boehringer Ingelheim Pharmaceuticals, Abbott Laboratories, GlaxoSmithKline plc, Bayer AG, King Pharmaceuticals, Novartis International AG, Mylan Pharmaceuticals, Teva Pharmaceuticals, Stiefel Laboratories, Roche Holding AG, Sanofi Aventis, Par Pharmaceutical and Pfizer. Bayer AG was the first company to experiment with Prontosil in 1932. The sulfonamide market consists of well-diversified global and regional players with the global vendors ruling the market.
The research report presents a comprehensive assessment of the sulfonamide market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The sulfonamide market report provides analysis and information, according to market segments such as geographies, applications and types.
Sulfonamide Market Report Covers Exhaustive Analysis On:
Market Segments
Market Dynamics
Market Size & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
The sulfonamide report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Sulfonamide report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The sulfonamide report also maps the qualitative impact of various market factors on market segments and geographies.
Sulfonamide Market Report Highlights:
A Detailed overview of the parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.
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