DUBAI, United Arab Emirates, Nov. 09, 2022 (GLOBE NEWSWIRE) — The world pharmaceutical grade sodium chloride market is expected to reach a valuation of US$472.1 million in 2029, with the market growing at a moderate CAGR of 5.9% from 2022 to 2029. Rising from a value of US$298.8 million in 2021, the market target will reach approximately US$315.8 million by the end of 2022. Increased demand for pharmaceutical grade sodium chloride from pharmaceutical and healthcare industries is driving the growth of pharmaceutical grade sodium chloride during the period forecast.
The application of pharmaceutical grade sodium chloride in pharmaceutical and healthcare industries such as injections, hemodialysis, oral rehydration salts and others is a primary growth driver of the pharmaceutical grade sodium chloride market. The target market is likely to witness significant growth, over the projected period, due to higher consumption in various end-use industries.
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Moreover, the oral drug delivery system shows great results for market players and end users as a route of administration. This is due to its benefits such as high patient compliance, affordability, reduced sterility, fewer restrictions, flexibility in dosage form design, and ease of production. In addition, for controlled and sustained release dosage forms, the demand for matrix tablets is constantly increasing and pharmaceutical grade sodium chloride is generally used in the manufacture of matrix tablets. Therefore, the popularity of dot matrix tablets also contributes to the growth of the target market.
Again, the continued increase in stress and lifestyle disorders, especially among Indians, will lead to an increased need for innovation and research, which will ultimately lead to the development of new drug delivery technologies. Therefore, there will be a growing market for new drug formulations. This bodes well for the target market over the forecast period.
“Increasing role of pharmaceutical grade sodium chloride in the production of injections, hemodialysisoral rehydration salts and other pharmaceuticals chemical products will likely drive the global pharmaceutical grade sodium chloride market growth over the forecast period,” says an IMF analyst.
Key points to remember:
- The high cost, time and effort required during the production process can hamper the growth of the market.
- The pharmaceutical grade sodium chloride market in the United States will account for 89.7% share in North America.
- The South Korean pharmaceutical grade sodium chloride market will grow by 4.2% during the assessment period.
- The hemodialysis segment will grow at a CAGR of 5.9% during the period 2022-2029.
- The HD-NaCl segment will grow at a CAGR of 6.0%, reaching US$316.0M by 2029.
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K+S AG, Akzonobel, Cargill, Hebei Huachen, Swiss Saltworks, Sudsalz Gmbh, Tata Chemicals, Cheetham Salt, Salinen, Dominion Salt Ltd. and US Salt, among others, are some of the major players in the pharmaceutical grade sodium chloride market. in the full report.
The major players in the market are focusing on entering the markets of emerging economies to expand their manufacturing facilities. These companies are eager to introduce and launch new products, increase their investment in research and development activities, and engage in mergers and acquisitions.
More information about Pharmaceutical Grade Sodium Chloride Market report
In its latest report, FMI offers an unbiased analysis of the global Pharmaceutical Grade Sodium Chloride Market, providing historic data from 2014 to 2021 and forecast statistics from 2022 to 2029. To understand the potential, growth and scope of the market Globally, the market is segmented on the basis of product type (API-NaCl, HD-NaCl), application (injections, hemodialysis, oral rehydration salts, osmotic agents, others) and region.
According to the latest IMF reports, based on segmentation, the HD-NaCl segment will show impressive growth during the period 2022-2029 owing to its role in the treatment of hemodialysis and various kidney-related medical treatments. This segment will grow at a CAGR of 6.0%, reaching US$316.0 million by 2029. In terms of application, hemodialysis segment will dominate the market with a CAGR of 5.9% during the projected period.
Based on region, the pharmaceutical grade sodium chloride market in South Korea will exhibit the fastest growth during the assessment period. Due to increasing investments in pharmaceutical and biotechnology industries by the South Korean government, the target market is expected to register a CAGR of 4.2% during the period 2022-2029. The expansion of the pharmaceutical base, the accelerated growth of the healthcare sector, as well as the development of medical tourism, will further contribute to the growth of the target market in this region. Additionally, the pharmaceutical grade sodium chloride market in the United States and China will also witness impressive growth during the forecast period.
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
2. Market Overview
2.2. Market definition
2.3. Parent market overview
2.4. Presentation of the production process
3. Key Market Trends
3.1. Key trends impacting the market
4. Key success factors
Read the report with full table of contents @ https://www.futuremarketinsights.com/reports/pharmaceutical-grade-sodium-chloride-market
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