Press release
Pharmaceutical Grade Lithium Carbonate Market is expected to grow at a CAGR of 4.1% during the forecasted period | Evolve Business Intelligence
• The global Pharmaceutical Grade Lithium Carbonate Market size was valued at USD 150.1 million in 2023 growing at a CAGR of 4.1% from 2023 to 2033.
• North America dominated the market in 2023
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033
As per the study initiated by Evolve Business Intelligence, the global Pharmaceutical Grade Lithium Carbonate Market size accounted for USD 150.1 Million in 2023, growing at a CAGR of 4.1% from 2023 to 2033. Pharmaceutical-grade lithium carbonate is a form of lithium carbonate that meets specific purity and quality standards suitable for pharmaceutical applications. Lithium carbonate itself is a compound containing lithium, carbon, and oxygen, and it is commonly used in the treatment of certain psychiatric disorders, particularly bipolar disorder. The pharmaceutical grade ensures that the lithium carbonate used in medications is free from impurities and meets strict regulatory requirements.
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Lithium carbonate is a key component in the production of medications used to treat bipolar disorder and other mood disorders. As the prevalence of these conditions increases and awareness grows, the demand for pharmaceutical-grade lithium carbonate also rises. Bipolar disorder is a chronic mental health condition that affects a significant portion of the global population. The increasing recognition and diagnosis of bipolar disorder contribute to the growing demand for pharmaceutical-grade lithium carbonate. Ongoing research and development activities in the pharmaceutical industry may lead to the identification of new therapeutic applications for lithium carbonate. This can further drive the demand for high-quality pharmaceutical-grade lithium carbonate. The pharmaceutical industry is highly regulated, and the production of medications must adhere to strict quality standards. Pharmaceutical-grade lithium carbonate ensures that the product meets these standards, including purity and absence of contaminants.
Key Players
Some of the major pharmaceutical-grade lithium Carbonate Market players holding high market shares include Livent Corporation, Albemarle Corporation, Jiangsu Lianhuan Pharmaceutical Co., Ltd., and American Elements. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Globe Química, Jiangsu Nhwa Pharmaceutical Co., Ltd., Panchsheel Organics Ltd (POLTD), Blanver
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Segmental Analysis
Based on purity, the Pharmaceutical Grade Lithium Carbonate market is 99%, Above 99%. The 99% purity segment is the largest segment of the Pharmaceutical Grade Lithium Carbonate market. This is because 99% purity lithium carbonate is the most widely used form of lithium carbonate for pharmaceutical applications. It is considered to be the most stable and effective form of lithium carbonate, and it is also the most readily available.
Based on application, the Pharmaceutical Grade Lithium Carbonate market is Extended Release, Immediate Release. The Immediate Release segment is the largest segment of the Pharmaceutical Grade Lithium Carbonate market. This is because immediate-release lithium carbonate is the most common form of lithium carbonate used to treat bipolar disorder and other mood disorders. Immediate-release lithium carbonate is absorbed into the bloodstream quickly, and it is also quickly eliminated from the body. This makes it an ideal form of lithium carbonate for patients who need to adjust their dosage frequently.
Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)
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Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
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