Demand Soars for Pharmaceutical Desiccants as Key Solution for Moisture Control in Medications: Market Analysis & Growth Projections
Research Reports
Aug 05, 2023
Pharmaceutical Desiccant Market Overview:
Pharmaceutical Desiccants Market Size was valued at USD 1.1 Billion in 2022. The Pharmaceutical Desiccants market industry is projected to grow from USD 1.2 Billion in 2023 to USD 1.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.77% during the forecast period (2023 – 2032).
Market USP Covered:
Drivers:
There is a significant increase in the aging population, a broadening of pharmaceutical business trends, and government intervention and initiatives. This would assure high-quality medical pharmaceuticals, which will be a major driver of the global pharmaceutical desiccant market growth.
Restraints:
The pharmaceutical desiccant market is being restricted by the implementation of stringent standards and fluctuating conditions. Pharmaceutical items must meet stringent quality control and performance standards. Desiccant suppliers must comply with pharmaceutical firms’ quality management systems on a regular basis. The other factor hindering the pharmaceutical desiccants market growth is their unpredictable performance at different temperatures depending on their type. The temperature required by the product must determine the desiccant’s temperature.
Get Free Sample Report Link Here @
https://www.marketresearchfuture.com/sample_request/4182
COVID-19 Analysis:
The pharmaceutical business has witnessed an unsettling slowdown in growth as a result of the global pandemic of COVID-19. Due to marketing difficulties in several geographical regions around the world, the pharmaceutical desiccant market is undergoing an economic downturn. The pharmaceutical desiccant market growth is susceptible to the country’s economic growth in which it is located. Following the global spread of the coronavirus, there has been a new influx of drugs on the market, exacerbating the slowdown.
Key Players:
- DuPont de Nemours Inc
- Filtration Group Corporation
- Sanner GMBH
- Clariant
- Capitol Scientific Inc.
- Desiccare Inc.
- R. Grace & Co.
- Desican Inc.
- Oker-Chemie GmbH
Market Segmentation:
The segmentation of the global pharmaceutical desiccants market is done by type and end-user. By type, the majority of the pharmaceutical desiccant market share is held by silica gel. This is because it is non-flammable, non-toxic, and porous in nature. By end-user, the tablets segment held the largest market share in the global market.
Regional Insights:
The APAC region is witnessing the highest pharmaceutical market growth on a global scale. The anticipated CAGR of this region is 4.77% due to a rise in manufacturing activities and an increase in the population of people requiring pharmaceutical desiccants. The market growth can be attributed to increased pharmaceutical desiccant output in China as well as a better utilization rate of the commodity in Chinese plants than in facilities in developed countries. China’s elevated pharmaceutical desiccant is now employed as a matting reagent for plastics, paints, catalysts, and other anti-adhesives.
North America holds the highest pharmaceutical market share in the world, owing to the region’s strong pharmaceutical manufacturing base, favorable government regulations, and significant R&D expenditure. In 2018, North America had a market share of approximately 38%.
BUY NOW Report @
https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=4182
During the forecast period of 2019 to 2027, the European market for pharmaceutical desiccants is anticipated to expand at a CAGR of 4.59%. The pharmaceutical industry’s ever-increasing growth has aided in the expansion of the pharmaceutical desiccant market size. Economic benefits and increased disposable incomes have mostly led to the pharmaceutical market’s rapid growth. Additionally, increased income levels, particularly for those in the lowest economic strata, as well as government measures to offer basic healthcare facilities, are predicted to boost the availability and affordability of pharmaceuticals for the population. This is predicted to stimulate the pharmaceutical industry’s growth, resulting in higher use of pharmaceutical desiccants.
Browse More Trending Market Reports :
Ethyl Acetate Market : https://www.marketresearchfuture.com/reports/ethyl-acetate-market-945
Fiberglass Market : https://www.marketresearchfuture.com/reports/fiberglass-market-3196
Adipic Acid Market : https://www.marketresearchfuture.com/reports/adipic-acid-market-5479
Cobalt Market : https://www.marketresearchfuture.com/reports/cobalt-market-6549
Helium Market : https://www.marketresearchfuture.com/reports/helium-market-8062
Contact Information:
Market Research Future® 99 Hudson Street,5Th Floor New York, New York 10013 United States of America Phone: +1 628 258 0071(US) +44 2035 002 764(UK) Email: sales@marketresearchfuture.com
Tags:
Wire, Research Newswire, English