Lithium salts are lithium compounds that are generally used as a psychiatric medication. These salts are found to be effective in treating bipolar illness and unipolar illness. The salts are also used to treat depressive disorders. Usually, lithium is taken orally. Other than this, lithium salts are also used in commercial rechargeable lithium-ion batteries.
The "Global Lithium Salts Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the lithium salts market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading lithium salts market players and offers key trends and opportunities in the market.MARKET SEGMENTATION
Based on type, the global lithium salts market is segmented into tablets, capsules and oral solution.
Based on application, the market is segmented into hospital, clinic and others.
MARKET DYNAMICS Drivers:
Rise in incidences of bipolar disorder and mania in adults.
Increase in demand for lithium compounds such as Li-ion batteries, glass & ceramics from end-users.
Increase in technological developments.
Risks associated with lithium medication.
Socio-environmental impact of lithium extraction.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The lithium salts market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the lithium salts market in these regions.
IMPACT OF COVID-19 ON LITHIUM SALTS MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The initial stage of COVID-19 impacted the market growth. During this time, there was a decrease in the growth of the lithium salt market due to business shutdown, trade and supply chain disruptions, and worldwide lockdown. However, the demand for lithium compounds surged after lockdown removal as there was increased demand for lithium batteries and lithium by the glass-making industry. Although, due to the demand and supply gap in the market, it is anticipated to witness slow growth during the pandemic.
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The report covers key developments in the lithium salts market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from lithium salts market are anticipated to have lucrative growth opportunities in the future with the rising demand for lithium salts in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the lithium salts market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
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