3-Fluoro-5-Nitrotoluene Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is 3-Fluoro-5-Nitrotoluene Industry Hit Worst due to Russia-Ukraine War Impact?
The global 3-fluoro-5-nitrotoluene market size is set to make steady gains on account of the increasing prevalence of cancer worldwide, states Fortune Business Insights™ in its report, titled “3-Fluoro-5-Nitrotoluene Market, 2020-2029”. In 2018, according to the World Health Organization’s (WHO) International Agency for Research on Cancer (IARC), 18.1 million new cancer cases and 9.6 million cancer deaths were recorded worldwide. The IARC estimates that around 20% of men and 16% of women develop cancer during their lifetime and 12.5% of men and 9% of women lose their lives to this disease.
3-fluoro-5-nitrotoluene (C7H6FNO2) has emerged as a promising compound for the pharmaceutical and chemical industries, utilized as a synthesizer in the formulation of various therapeutics for cancer treatment. For example, the androgen receptor, which is an important prognostic marker and therapeutic target in breast cancer, is derived from the synthesis facilitated by C7H6FNO2. Thus, the growing incidence of cancer will be a major growth driver for this market in the forthcoming years.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the 3-Fluoro-5-Nitrotoluene Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global 3-Fluoro-5-Nitrotoluene Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
Based on type, the market has been divided into 95% and >95%. On the basis of end-use, the market has been categorized into pharmaceuticals, chemicals, and others. By region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
The report features unmatched and actionable research on the various aspects of the market. It contains a holistic assessment of the factors driving and restraining the market, along with a comprehensive analysis of all possible market segments. Moreover, the report offers a careful evaluation of the key market players and their strategies. In addition, the report provides detailed insights into the regional dynamics shaping market growth.
Potential of Androgen Receptor Inhibitors in Fighting COVID May Present New Opportunities
The COVID-19 pandemic has created a global health emergency unprecedented in living memory. Healthcare systems around the world have been grappling with the overwhelming number of patients suffering from this infection, which may prove favorable for the 3-fluoro-5-nitrotoluene market growth. Intensive research has been conducted by several academic and medical institutions to develop novel formulations or redesign existing ones that can aid the fight against the coronavirus. For example, in December 2020, a study conducted by the University of Michigan found that androgen receptors that are used in the treatment of prostate cancer can prove effective against COVID-19. These receptors play a key role in the development of prostate cancer and the researchers suggest that their suppression can potentially treat COVID in men. 3-fluoro-5-nitrotoluene is an essential component in the formulation of medication involving androgen receptor inhibitors and thus, the employment of this compound is likely to expand amid the current pandemic.
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Asia Pacific to Lead the Charge; North America to Emerge as a Profitable Market
Among regions, Asia Pacific is expected to lead the 3-fluoro-5-nitrotoluene market share in the forthcoming years due to the abundant availability of raw materials such as toluene. Furthermore, countries such as India and China have strong chemical manufacturing facilities and a speedily growing pharmaceuticals sector, which will benefit the growth of this market.
In North America, robust funding for medical and healthcare research and high per capita health spending will feed the regional market growth. On the other hand, in Europe, an increasing geriatric population and advancements in the pharmaceutical sector will propel the regional market. Furthermore, in both North America and Europe, the surging number of coronavirus cases has also boosted funding for medical research, thus favoring the market for novel compounds, such as 3-fluoro-5-nitrotoluene, in these continents.
Strategic Acquisitions by Leading Companies to Animate the Market
With the intent of strengthening their position, key players are actively engaging in acquiring fellow competitors to gain a decisive edge in the competitive milieu of this market. These acquisitions are enabling companies to rapidly expand their portfolios and produce innovative offerings for customers. In addition, the acquiring entities are also able to enhance their research & development capacities.
August 2019: LGC announced the takeover of Toronto Research Chemicals (TRC), a prominent manufacturer and supplier of organic bio-chemicals. The acquisition will allow LGC, a global leader in the extended life science space, to leverage TRC’s extensive range of 46,000 compounds and specialty chemicals.
List of Key Players Covered in the 3-Fluoro-5-Nitrotoluene Market Report:
- Hanhong Scientific
- Toronto Research Chemicals
- Ginte Material Industry
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