Press release
Phenylbutazone Market Plying for Significant Growth During 2017 - 2025
Phenylbutazone can be administered intravenously or orally (via powder, paste or feed-in). Phenylbutazone should not be injected in any place other than a vein and administered intramuscularly. Edema and tissue damage may also occur if the drug is injected repetitively into the same vein. Side effects of phenylbutazone include blood dyscrasia, GI ulcers, oral lesions, kidney damage and internal hemorrhage. Phenylbutazone should not be used in combination with vitamin K antagonists such as warfarin as it amplifies the anticoagulant effect of these drugs. Phenylbutazone displaces warfarin from toxic blood levels and plasma binding sites leading to haemorrhage.
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The growth in end user industries is expected to increase demand for phenylbutazone. The growth in veterinary medicine industry is expected to increase consumption of phenylbutazone. In addition, rising demand for non steroidal anti-inflammatory drugs from emerging economies of Asia Pacific and Latin America is expected to boost demand for phenylbutazone. However, availability of substitutes and government regulations could hamper the growth of this market. Harpagophytum can replace phenylbutazone for treatment of fever and pain in horses.
Asia Pacific is expected to be the largest consumer of phenylbutazone followed by North America and Europe. China and India are the major consumers of phenylbutazone in Asia Pacific due to presence of established end user industries. Phenylbutazone manufacturers are shifting their base to emerging economies of Asia Pacific due to availability of government subsidies, land and cheap labor. Mongolia, Republic of Korea, Australia and New Zealand are expected to be other major consumers of phenylbutazone in Asia Pacific. North America and Europe are expected to experience moderate to high growth. In addition, demand for phenylbutazone is expected to increase in emerging economies of Latin America due to increasing demand for veterinary drugs. Argentina, Brazil, Colombia and Peru are major consumers of phenylbutazone in Latin America.
The market is dominated by large and medium chemical and pharmaceutical corporations. Some of the key players in this market are Santa Cruz Biotechnology, Inc. (U.S.), Hangzhou Hyper Chemicals Limited (China), Baoji Guokang Bio-Technology Co., Ltd.(China), Wuhan Yitongtai Science and Technology Co., Ltd. (China), Afine Chemicals Limited (china), Shanghai Win-Win Biochemical Co., Ltd. (china), Shaanxi TOP Pharm Chemical Co., Ltd.(China), Hangzhou Hyper Chemicals Limited (China), Hangzhou Ruijiang Chemical Co., Ltd. (China), Dalian Launcher Fine Chemical Co., Ltd.(China), Croma Life Science Pvt. Ltd (India), Swati Chemicals (India), Suchem Laboratories (India), Uni-med India (India), Afton Pharma (India) and Hefei TNJ Chemical Industry Co., Ltd. (China) among others. Companies are using strategic acquisitions and mergers to remain competitive in the market. In addition, companies are increasing their presence in emerging economies of Latin America and Europe to increase their market presence.
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