Expected to reach the value of US$ 450 Mn by the end of forecast period (2019 – 2029), global pharmaceutical grade sodium chloride market will witness a strong CAGR. A new Future Market Insights (FMI) report analyzes that over the recent years there, has been a significant increase in demand for pharmaceutical grade sodium chloride owing to its application in the treatment of chronic kidney disease (CKD). Hemodialysis is one of the applications, which significantly contributes to increasing demand for pharmaceutical grade sodium chloride.
Multiple pharmaceutical applications such as saline drips, contact lenses solutions, and ORS solutions seek pharmaceutical grade sodium chloride as an important raw material for vital medical solutions such as aqueous isotonic injection of dextrose, solution for surgical recovery, and intravenous therapy solution.
Key Takeaways – Pharmaceutical Grade Sodium Chloride Market Study
- In the medical sector, pharmaceutical grade sodium chloride consumption is dictated as per authoritative organizations, resulting in a number of manufacturers obtaining Good Manufacturing Practice (GMP), FDA and other certifications to adhere by the guidelines of safe manufacturing as well as utilizations.
- Applications of pharmaceutical grade sodium chloride continue to diversify in treating array of diseases such as gastrointestinal disorders, diabetes, and cancer of blood and kidney has been registered over the past decade, resulting in a nearly 40% increase in demand for pharmaceutical grade sodium chloride-containing medical solutions over the period of 2009-2019.
- Developed countries such as the U.K., the U.S., Germany, China, and others have been self-reliant on manufacturing medicines and solutions to treat chronic kidney diseases (CKD).
Low-income countries, majorly from the Middle East & Africa, are dependent on organizations such as WHO and UNICEF for supplements. To strengthen supply to these economies, UNICEF has openly extended support to governments to scale-up their ORS circulation by promoting quality co-packaged ORS and ensuring a secure and functioning program.
Who is Winning Competition?
The market is heading towards consolidation as key manufacturers are opting for inorganic techniques; however, multiple potential manufacturers are coming up as response to increased demand in recent years. To establish presence globally, new players have to be leaders in the local market first. Some key participants mentioned in the pharmaceutical grade sodium chloride market report are K+S Group, Akzo Nobel N.V., Dominion Salt Ltd, Morton Salt LLC, and Tianjin Changlu Haijing Group Co., Ltd., among others
Key players are constantly enhancing their manufacturing capabilities by expanding and enhancing existing processing facilities and products, along with investments in the research & development sector to expand their product portfolio and acquire relatively smaller players and increase production capacities.Furthermore, players in emerging markets are focusing on rapid business expansions and increasing value-additions in their product offerings.
A Sneak Peek into the Future Outlook of Market
There has been a significant growth in investments towards R&D in the Asia Pacific region from tier-2 and tier-3 players. The market is expected to remain highly consolidated and is expected to open new opportunities in the future. Moreover, the growth of end users such as pharmaceutical, healthcare, and tablet & film coatings, among others is also expected to create favorable conditions for the growth of the global pharmaceutical grade sodium chloride market.
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Know More About What Report Covers
The report offers insights on the company level, focusing on the competitive scenario in the pharmaceutical grade sodium chloride market along with the marketing strategies of the upcoming market players. The report provides an insightful analysis of the global pharmaceutical grade sodium chloride market through three different categories – type, application, and region.