Pharmaceutical Grade Sodium Chloride Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Pharmaceutical Grade Sodium Chloride Market grew at a CAGR of 5.6% between 2017-2021 and is estimated to be US$ 379.8 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.5% and is expected to reach a valuation of US$ 712.9 Mn by 2032 end.
Common salt, also known as sodium chloride, is employed in several sectors, including the cosmetic, pharmaceutical, and processed food industries. Dialysis or kidney transplants are used to treat end-stage renal disease (ESRD) patients.
However, compared to the frequently used dialysis operation, the rate of kidney transplants is relatively low because there are not enough kidney donors available, in addition to several other medical conditions.
THE ADVANCEMENTS IN MATRIX TABLETS PROPEL DEMAND FOR SODIUM CHLORIDE
Oral drug delivery has generated superior outcomes for manufacturers and end-users as a route of drug administration because of its high patient compliance, cost-effectiveness, lower sterility, constraints, flexibility in the design of dosage forms, and ease of production. The need for matrix tablets is crucial for controlled and sustained-release dosage forms. Matrix pills are frequently made using sodium chloride of the pharmaceutical grade.
The need for innovation and research will be fueled by the ongoing rise in stress- and lifestyle-related disorders among Indians, leading to the creation of novel drug-delivery technologies. As a result, the market for innovative drug formulations will expand.
STRINGENT GOVERNMENT REGULATIONS AND CERTIFICATIONS ARE EXPECTED TO OBSTRUCT THE MARKET GROWTH
It is anticipated that stringent government restrictions, certifications, and low profitability will impede industry expansion. The pharmaceutical-grade sodium chloride market is expected to have difficulties developing new technologies and advancements over the forecast period.
THE HIGH SPENDING CAPACITY OF PEOPLE IN DEVELOPING COUNTRIES IS EXPECTED TO CONTINUE TO OPEN UP LUCRATIVE BUSINESS OPPORTUNITIES
It is anticipated that both established market players and recent entrants will benefit from the high purchasing power of consumers in developing nations and the rising demand for pure, certified salt. The pharmaceutical-grade sodium chloride market is anticipated to expand through several joint ventures and expansions, as well as increased demand from injections, dialysis, and pharmaceutical formulations.
Market Segments Covered in Report
By Region and Country:
How will the growth of the growing demand for hemodialysis impact the pharmaceutical-grade sodium chloride market?
Over the projection period, the hemodialysis segment is anticipated to expand at a special rate of 5.9% CAGR. The application sector is expected to dominate the hemodialysis and hemofiltration solutions segment throughout the projection period. However, due to the rising use of salt in the manufacturing of pharmaceuticals, the saline drips, and API intermediates segments are anticipated to grow steadily.
Significant market traction is anticipated due to the pharmaceutical salt demand for the hemodialysis and hemofiltration solutions segment continuing to develop steadily. Pharmaceutical-grade sodium chloride use is expected to rise due to relatively increased rates of lifestyle-related illnesses, particularly in industrialized nations.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
A shift in manufacturers’ priorities toward developing regions has been observed in the industry over the last few years. Several significant firms are also concentrating on raising their production capacity, introducing new goods, investing in R&D, and growing merger and acquisition activity.
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 6.5%.
The advancements in matrix tablets propel the demand for sodium chloride
Major global Pharmaceutical Grade Sodium Chloride Market players are K + S AG, Akzonobel, Cargill, Hebei Huachen, Swiss Saltworks, Sudsalz Gmbh, Tata Chemicals, Cheetham Salt, Salinen, Dominion Salt Ltd., US Salt
Stringent government regulations and certifications and low profitability are expected to obstruct the market growth
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