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2, 3 Lutidine Market to Witness Comprehensive Growth by 2023

Author: Priyanka Thakare
by Priyanka Thakare
Posted: May 10, 2019

2, 3 Lutidine is used in the manufacture of anti-ulcer drugs such as omeprazol, lansaprazole and rebaprazole. 2, 3 Lutidine is derived from pyridine chain and has different uses in the pharmaceutical industry. It is a natural heterocyclic aromatic organic compound. 2, 3-Lutidine has been evaluated for use as a food additive owing to its nutty aroma when present in solution at very low concentrations; however the neat solvent has a pungent, noxious odor. 2, 3-Lutidine is weakly nucleophilic, due to the steric effects of the two methyl groups on the ring nitrogen and is moderately basic.

The growing pharmaceutical market coupled with research and developments in the field of healthcare are driving the market of 2, 3 Lutidine. The market of 2, 3 Lutidine is expected to witness an upward trend within the forecast period. The pharmaceutical industry makes extensive use of 2, 3 Lutidine. Pharmaceutical is expected to be the fastest growing application sector in the near future thus boosting the demand for 2, 3 Lutidine.

The healthcare industry is predominant in North America due to high awareness of general well-being among consumers. The developed regions such as North America and Europe are expected to be the key markets for 2, 3 Lutidine. The chief reason for this increased demand is the increasing population suffering from ulcers and related problems in these regions. Additionally, the changing lifestyle and increase in number of patients related with ulcer problems in Asia Pacific region. The developing economies in Asia Pacific region are expected to be the major consumers for 2, 3 Lutidine in the next six years. Moreover, the patent expiry of 2, 3 Lutidine drug is anticipated to open floodgates for various pharmaceutical companies to venture into production of 2, 3 Lutidine. In terms of demand, U.S. had the largest demand for 2, 3 Lutidine. Europe had the second largest market share 2, 3 Lutidine market. European countries such as Germany and the UK were the major consumers of 2, 3 Lutidine in this region. However, stringent regulations associated with healthcare industry in European Union can act as a major restraint for the market in upcoming years. Asia Pacific was the leading region in 2, 3 Lutidine market. China had the largest demand for 2, 3 Lutidine. However, other countries such as India and Japan are likely to exhibit more demand for 2, 3 Lutidine in upcoming years. Rising population and changing lifestyles of consumers have been directly or indirectly driving the market and are expected to continue to do so in the next few years as well. Asia Pacific has experienced dynamic economic growth in the past decade. This trend is expected to continue in the next few years. Latin America is one of the largest markets for 2, 3 Lutidine in the Rest of the World. However, the Middle East region is anticipated to offer more opportunity for 2, 3 Lutidine market in upcoming years.

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Some of the key players in the 2, 3 Lutidine market are Alfa Aesar, the Good Scents Company,Dradis Chemicals, Beyond Industries (china) Limited, Haihang Industry (Jinan) Co., Ltd., Chemical Point Ug, Beijing Packbuy M&C Co., Ltd., Shanghai Worldyang Chemical Co., Limited., Jinan Boss Chemical Industry Co., Ltd., Oxford Lab Chem, Shanghai Bettersyn Biotech Co., Ltd., Kunshan Watson Noke International Trading Ltd. among others.

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Author: Priyanka Thakare

Priyanka Thakare

Member since: Dec 11, 2018
Published articles: 848

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