Global pharmaceutical desiccant market was valued at US$ XX.20 Mn in 2019 and is expected to reach US$ XX.32 Mn by 2027, at a CAGR of 4.58% during a forecast period.
Global Pharmaceutical Desiccant Market
Desiccants are a hygroscopic substance that absorbs and retains water vapor. Utmost desiccants are solids in the form that contain a network of interrelated pores which permit water molecules to become attached to the large internal surface that helps to retain/adsorb moisture as per requirement.
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Increased production in the field of pharmaceuticals is highly demanding for pharmaceutical desiccant, is forcing the manufacturer to use this desiccant as per their need which will help this market to grow. Major key drivers of this market are growth in the aging population across the globe that leads to an increase in illnesses and more requirements of medical conveniences thus pharmaceutical desiccant expected to fulfill this requirement demanded from the manufacturing sector of the above-targeted sector and will boost the market demand in coming years. Boost in the income and advanced facility of the pharmaceutical division is attracting the vendors to invest in the market which will contribute to the global pharmaceutical desiccant market during the forecasted period. Consumption of tablet, active pharmaceutical ingredient, nutraceutical products, pharmaceutical kit hence is boosting the demand in the packaging of the above-mentioned sectors as it protects and maintains the moisture content as per product need during transportation.
Fluctuation in regional temperature is a major factor to restrict the market growth.
Pharmaceutical Desiccant Market Segment analysis
By type segment, the silica gel sub-segment recorded 40% of the overall market share in the global market in terms of revenue in 2019. The silica gel segment is expected to expand at a CAGR of 5.90% during the growing period. The major growth factor is responsible for the nature of silica gel such as a non-flammable, non-toxic result of this it is widely accepted by sensitive materials, foods, and medicines. Furthermore, silica gel has the ability to absorb high moisture levels owing to its highest moisture adsorption capacity amongst other commercial desiccants. In the year 2019, the recorded production of silica gel was XX kilo tonnes since key manufacturers are engaged within the production of silica gel is making pharmaceutical desiccant product worldwide popular. The global silica gel market was valued US$ XX Mn 2019 and is expected to reach US$ X.89 Mn by 2027, at a CAGR of X.58% during a forecast period.
Pharmaceutical Desiccant Market Regional analysis
Regionally, North America is anticipated to witness the fastest market growth during the forecast period expanding at a CAGR of 4.42 % over the forecast period. Development in industrialization in this region, expected to show the fastest growth rate. Growth in pharmaceutical and chemical industries are driving the growth of the pharmaceutical desiccant market in the North America region. North America stood for 35 % market share in 2019 expected to grow at a constant rate industrialization is developing in this region.
Besides, after North America Europe region is recorded as the second-largest consumer and manufacturer of pharmaceutical desiccant because low production cost in the region is helping the market to grow. Europe market size was valued XX Mn at a considerable CAGR of X.3% and is projected to grow in coming years. Furthermore, guidelines relating to medical device and drug packaging also generate a favorable condition for market growth.
The objective of the report is to present a comprehensive analysis of the Global Pharmaceutical Desiccant Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Pharmaceutical Desiccant Market dynamics, structure by analysing the market segments and project the Global Pharmaceutical Desiccant Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Pharmaceutical Desiccant Market make the report investor’s guide.
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Scope of Pharmaceutical Desiccant Market
Global Pharmaceutical Desiccant market, By Type
• Activated Alumina
• Activated Charcoal
• Calcium Chloride
• Silica Gel
Global Pharmaceutical Desiccant market, By End-Use
• Nutraceutical Product Packaging
• Diagnostic Kit
Global Pharmaceutical Desiccant market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Pharmaceutical Desiccant Market,
• Multisorb Technologies
• CSP Technologies
• Capitol Scientific
• W. R. Grace and Co
• E.I Du Pont De Nemours and Company
• Oker-Chemie Gmbh
• Rotor Source Inc.
• Proflute Ab Sanner Gmbh
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