Bismuth Nitrate Market Overview, Leading Players, Growth and Forecast Report by 2030

NEW YORK - March 4, 2021 - PRLog -- 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.

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 (https://www.psmarketresearch.com/market-analysis/bismuth-nitrate-market-report). 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.

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.