The global riluzole hydrochloride market is anticipated to grow at a significant CAGR during the forecast period. Riluzole is a treatment for amyotrophic lateral sclerosis (ALS). In certain persons, riluzole can postpone the beginning of ventilator dependency or tracheostomy, and it can extend survival by two to three months. Riluzole is available as a pill or as a liquid. Riluzole was licensed by the US Food and Drug Administration (FDA) in 1995 for the treatment of ALS in the US. According to a Cochrane Library Analysis, there is a 9% increase in the possibility of surviving one year.
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The global riluzole hydrochloride acid market is expected to expand during the forecast period, driven by rising demand from medical treatment, water treatment, food processing, and the oil and gas industry. In addition, over the next six years, the riluzole hydrochloride acid market is predicted to be driven by rising HCl use in the steel and pharmaceutical industries. However, the market expansion is expected to be hampered by inadequate raw material availability and resulting price variations. Furthermore, during the forecast period, government laws governing CFC emissions during HCl synthesis are expected to act as a market restraint.
Increased investment in the oil and gas sector, as well as the mining industry, has led to market participants conducting R&D for application development, resulting in numerous potential for the riluzole hydrochloride acid market to flourish. Furthermore, advances in the chemical manufacturing sector are expected to boost riluzole hydrochloride market growth during the forecast period. Growing hydrochloride applications in the pharmaceutical industry for pH management, catalyst use, water deionization, and reduction agents are likely to offer growth opportunity for the market.
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Market Coverage
- Segments Covered-
o By Product Type
o By Application
- Competitive Landscape: R&D Systems, Anward, Tocris Bioscience, Enzo Life Sciences, AbMole Bioscience, RaceChemical, Santa Cruz Biotechnology and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Market Segmentation
Global Riluzole Hydrochloride Market, By Product Type
- Low Purity (below 97%)
- Purity (above 97% And Below 99%)
- High Purity (above 99%)
- Others
Global Riluzole Hydrochloride Market, By Application
- Medical Treatment
- Bioscience Research
- Others
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