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Iodine Market Challenges, Key Players, Industry Segments, Development, Opportunities, Forecast 2023
Market Research Future has published a Cooked Research Report on the Global Iodine Market Research Report- Forecast to 2023
Iodine is a substrate extensively used in a range of applications, such as LCD polarizers, biocides, X-ray contrast media, animal nutrition, health nutrition, fluorochemicals, and pharmaceuticals, among others. As a result, Iodine invariably witnesses massive consumption & demand, garnering huge market prominence. Also, the Global Iodine Market has been growing dramatically over the past couple of years, addressing the augmented demand from the radiologists and others.
According to a leading research firm - Market Research Future (MRFR), the Global Iodine Market is expected to create a significantly large revenue pocket by 2023. In its recently published study, MRFR also asserts that the market would register a CAGR over 4.89% throughout the forecast period (2018 – 2023). Technological advancements in medical imaging technology & techniques and the burgeoning healthcare sector are some of the key driving forces pushing upmarket growth.
Besides, factors such as the increasing numbers of public as well as private diagnostic centers with improved diagnostic imaging services are fostering the market demand. Moreover, the rapidly growing contrast media market propel the market growth to an extent. Adversely, factors such as the high toxicity levels associated with Iodine might pose challenges to market growth.
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Nevertheless, the rise in the Iodine deficiency among people, especially the demographics of developing regions would support the growth of the market, creating a huge demand for health supplements.
Global Iodine Market – Competitive Landscape
Fiercely competitive, the Iodine Market appears to be fragmented due to the presence of numerous matured & small-scale players. To gain a considerably large share in the market, players initiate strategies such as mergers & acquisitions, expansion, collaboration, and product & technology launch. They invest heavily in R&D to develop a manufacturing technique that is entirely on a different level compared to their competition.
Industry, Innovation & Related News
February 11, 2019 --- Progenics Pharmaceuticals, Inc. (the US), an oncology company involved in the development of innovative medicines and imaging analysis technology used in the cancer treatments, announced the acquisition of a New Jersey-based manufacturing facility for AZEDRA® for cash consideration of USD 8 MN. The Company has also secured the long-term supply of Iodine necessary to produce both AZEDRA and 1095.
These strategic transactions extend Progenics’ leadership position in radiopharmaceuticals, establishing the infrastructure and manufacturing capabilities to label multiple types of isotopes, including iodine-131. With the acquisition, Progenics is building the capabilities to ensure the supply of AZEDRA.
AZEDRA is the first and only FDA approved radiopharmaceutical available for the treatment of ultra-rare cancers such as pheochromocytoma and paraganglioma. The site serves as the launch facility for AZEDRA and will also provide manufacturing support for the Company’s development stage radiopharmaceuticals, including 1095.
Key Players Leading the Global Iodine Market include Cosayach (Chile), Iofina (US), Deepwater Chemicals (US), Glide Chem Pvt. Ltd. (India), Calibre Chemicals Pvt. Ltd. (India), Itochu Chemical Frontier Corporation (Japan), Independent Iodine (Belgium), ISE Chemical Corporation (Japan), Zen Chemicals (India), JSC Isotope (Russia), Iochem Chemicals Corporation (US), ISR Holding (Azerbaijan), Eskay Iodine Private Limited (India), and GODO Shigen Co. Ltd. (Japan), among others.
Global Iodine Market – Segments
The report is segmented into three market dynamics to widen the scope of understanding,
By Type: Natural Brines and Nitrite Ores, among others.
By Application: LCD Polarizers, Biocides, X-ray Contrast Media, Animal Nutrition, Health Nutrition, Fluorochemicals, Pharmaceuticals, and Catalysts, among others.
By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global Iodine Market – Geographical Analysis
Europe is the largest region in the Global Iodine Market. The presence of a proliferating pharmaceutical industry and many industry leaders & market players drive the regional market growth. Heading with the resurging economy in the region, the Iodine Market in Europe would reach a valuation of USD 335.4 MN by 2023. Additionally, increasing healthcare expenditures alongside, the adoption of advanced technologies fosters the growth of the regional market.
The Iodine Market in the North American region accounts for the second-largest market, globally. Rapid growth in medical technologies and drug manufacturing units support the growth of the regional market. Besides, the presence of key pharma companies is boosting market demand. Moreover, increasing emphasis of Iodine manufacturers players in delivering cost-competitive and reliable product supply, foster the growth of the regional market. Heading with the same growth trends, the region is estimated to reach USD 214.1 MN by the end of 2023.
The Asia Pacific Iodine Market is lucrative, too, which is growing significantly. Rapidly increasing healthcare and pharmaceutical sector and the developing economy in the region is supporting the regional market growth. Developing markets in Japan, China, and India are further pushing up the increase in the regional market. Moreover, the rising population and spreading awareness towards the functionalities of contrast media drive the Iodine Market in the region.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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