Bismuth Nitrate Market

Bismuth Nitrate: A Magic Compound Making Development of Potent Drugs Possible

Bismuth Nitrate is rapidly becoming the favorite compound of pharmaceutical companies across the globe. This is mainly because of the ability of the bismuth nitrate-formulated medicines to treat kidney damage caused because of chemotherapies. In addition to this, these medicines prevent bone marrow damage caused because of radiation and prevent the occurrence of digestive tract infections that can subsequently lead to ulcers (Helicobacter pylori). Because of these reasons, bismuth nitrate is experiencing mushrooming demand for pharmaceutical companies around the world.

This means that the rapid growth of the pharmaceutical sector in the developing nations of Asia-Pacific such as India, South Korea, and China, due to the swift macroeconomic progress, surging population of geriatric patients, and the soaring research and development investments being made in these countries, is fueling the sales of bismuth nitrate. The ballooning production of various pharmaceutical drugs, on account of the rising healthcare requirements in these countries, is also boosting the requirement for the compound.

Apart from the aforementioned factors, the rising incidence of cancer is also propelling the demand for drugs made from the compound in these countries. This is, in turn, boosting the sales of the compound, which is subsequently causing the expansion of the global bismuth nitrate market. According to the forecast of P&S Intelligence, a market research firm based in India, the valuation of the market would rise from $190.6 million to $287.7 million from 2019 to 2030.

Furthermore, the market is predicted to advance at a CAGR of 5.1% between 2020 and 2030. There are mainly two grades of the compound available in the market namely industrial and pharmaceutical grades. Between these, the sales of the pharmaceutical grade bismuth nitrate is predicted to be higher in the forthcoming years. This would be a result of the large-scale usage of the chemical in medicated drugs, on account of its ability to prevent kidney damage during chemotherapies.

Chemical manufacturing and drug formulation are the major application areas of the compound all over the world. Of these, the usage of the compound is predicted to rise immensely in drug formulation applications in the upcoming years. This would be due to the growing usage of the compound in drug manufacturing processes. Additionally, this compound is increasingly being used for producing medicines for those ailments and diseases that currently don’t have any available cure.

Globally, the bismuth nitrate market recorded the highest growth in Asia-Pacific (APAC) and this trend is predicted to continue in the upcoming years as well. This would be because of the soaring R&D investments being made in the pharmaceutical sector for developing drugs for those diseases that currently don’t have any cure. Additionally, the rising prevalence of cancer is boosting the sales of pain-relieving drugs, which is, in turn, pushing up the demand for the compound in the region.

Hence, it can be said without any hesitation that the sales of bismuth nitrate would shoot-up all over the world in the years to come, mainly because of the rising requirement for the compound in the pharmaceutical sector and for drug manufacturing.

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