Minocycline Hydrochloride MarketGrowth in the market is due to the increase in the usage minocycline hydrochloride for the treatment of infection on skin, respiratory tract, gallbladder, urinary tract, and others.Minocycline Hydrochloride Market Overview
Minocycline Hydrochloride Market size is forecast to reach US$18.8 million by 2027, after growing at a CAGR of 2.3% during 2022-2027. Minocycline Hydrochloride is a tetracycline antibiotics drug that is used to treat variety of bacterial infection. Minocycline HCL (hydrochloride) is a tetracycline antibiotic. It stops the growth of bacteria and cures acne. The growth in the market is due to the increase in the usage minocycline hydrochloride for the treatment of infection on skin, respiratory tract, gallbladder, urinary tract, and others. Apart from the positive side minocycline hydrochloride has some side effects too. Minocycline can produce a life-threatening skin rash. Minocycline can cause permanent tooth yellowing or greying in children under the age of eight.
COVID-19 Impact
The emergence of COVID-19, which is declared a pandemic by the World Health Organization, is having a noticeable impact on global economic growth. Currently the Minocycline Hydrochloride Market has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. This in turn has affected the demand and supply chain as well which has been restricting the growth in year 2021 because of the shift in manufacturing units to manufacture the medicines for the pandemic.
Minocycline Hydrochloride Market Segment Analysis - By Grade
Pharmaceutical Grade held the largest share of 56% in the Minocycline Hydrochloride Market in 2021. The pharmaceutical grade is the manufacturing process used in the production of drug. The Food and Drug Administration (FDA) only approves the drug when it passes the controlled clinical trials, for maintaining the safety and efficiency. All drugs contain drug labelling and directions that are essential for its effectiveness.
Minocycline Hydrochloride Market Segment Analysis - By Application
Minocycline Hydrochloride Tablet held the largest share of 38% in the Minocycline Hydrochloride Market in 2021. The rise in minocycline hydrochloride is due to the rise in the bacterial infections. According to National Investment Promotion & Facilitation Agency, Indian pharmaceutical industry is valued at $42 billion in 2021 and is expected to grow up to $65 billion by 2024. In the global pharmaceuticals sector, India is a significant and quickly expanding player. India's pharmaceutical industry accounts for more than 20% of the worldwide generics market by volume and 62% of global vaccine demand. It is the world's largest supplier of generic medications, accounting for 20% of global supply by volume, as well as supplying 62 percent of global vaccine demand. India is the world's third-largest producer by volume and the fourteenth-largest producer by value. This rise is due to the increase in the export of the generic medicines all over the world. When considering the market anti-infectives consist of 13.6% holding the largest share among the largest market. The demand for generic medicines is leading towards the growth of the pharmaceutical sector and hence the minocycline hydrochloride market. Also, the industry is growing due to the increase in the medical sectors in the untapped region.
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Minocycline Hydrochloride Market Segment Analysis - Geography
Asia-Pacific (APAC) dominated the Minocycline Hydrochloride Market in the year 2021, with a market share of 37% followed by North America and Europe. China and India make around 75-80% of the active pharmaceutical ingredients (APIs) that are imported to US. Indian pharmaceutical sector supplies over 62% of the global demand for different vaccines. 40% of the generic demand for the U.S and 25 % of all medicines in UK. The two countries China and India are leading the world in terms of pharmaceutical drug manufacturing and of exporting. The pharmaceutical sector in India is dominated by generic pharmaceuticals, which account for 71% of the market. This is expected to increase as generic medicine shipments to the United States increase, since branded medications worth $55 billion will become off-patent between 2017 and 2019. Anti-infectives (13.6 percent), Cardiac (12.4 percent), and Gastrointestinal (11.5 percent) had the largest domestic market share in the pharmaceutical sector by sales. In August 2021, exports of drugs and pharmaceuticals were valued at $2001.78 billion, up 1.21 percent from $1977.76 billion in August 2020. Also, the higher population and increasing in the in-hand disposable income and medical expenditure is leading to the growth in the sector and hence the Minocycline Hydrochloride Market.
Minocycline Hydrochloride Market Drivers
Rise in different Medical Applications of Minocycline HydrochlorideIncrease in the research and development of minocycline hydrochloride for different applications. Different countries are investing a lot in the research and development of medicine due to increasing diseases. In 2015, The Medicines Company launched new formulation of Minocin for Injection. Infections caused by susceptible strains of specified bacteria, such as the Acinetobacter species, are treated with Minocin for Injection. In 2018, Teva Pharmaceutical Industries Ltd., launched generic version of minocycline HCl “Solodyn” Extended Release Tablets, 65 and 115 mg, in the U.S. Minocycline hydrochloride is used to treat infections that are caused by bacteria. The disease includes pneumonia and infection in respiratory track, eye, intestinal, urinary and others. It is also used in the treatment of rheumatoid arthritis.
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Minocycline Hydrochloride Market Challenges
Volatile Price of Minocycline HydrochlorideThe fluctuation in the price of raw material restricts the growth of the minocycline hydrochloride market. The price of generic medicine is varying from $31 to $52. Each tablet consists of anhydrous minocycline, hydroxy propyl-cellulose (E463), maize starch, magnesium stearate, lactose, methylated spirits. The price change with the production process as for the formation palladium carbon hydrogenation and formaldehyde reaction is required. Also, the strict government rules and regulations regarding the manufacturing of pharmaceutical drugs is leading to the growth in the market.
Minocycline Hydrochloride Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Minocycline Hydrochloride Market. Major players in the Minocycline Hydrochloride Market are
Hovione FarmaCiencia SA
Taj Pharmaceuticals Limited
Shanghai Yijing Pharmaceutical & Chemical Co., Ltd.,
Manus Aktteva Biopharma LLP
Enaltec Labs Pvt. Ltd.
Tecoland Corporation
Hangzhou Dayangchem Co., Ltd.
Cayman Chemical Company
Valeant Pharmaceuticals North America LLC
Shanghai Yijing Pharmaceutical & Chemical Co., Ltd.
Acquisitions/Technology Launches/ Product Launches
In February 2019, Lupin Limited launched Minocycline Hydrochloride Extended-Release Tablets USP 55mg generic medicine, approved from United States Food and Drug Administration (FDA). Only inflammatory lesions of non-nodular moderate to severe acne vulgaris in patients 12 years and older are prescribed.
Key Takeaways
Asia Pacific dominates the Minocycline Hydrochloride Market owing to rapid increase in manufacturing of Pharmaceutical drugs in the region.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in Minocycline Hydrochloride Market and their specific segmented revenue.
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