New York, Sept. 24, 2021 (GLOBE NEWSWIRE) -- Pharmaceutical Desiccant Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Pharmaceutical Desiccant Market Research Report, type, end-user and Region - Forecast till 2028” the market is projected to be worth USD 195.89 million by 2028, registering a CAGR of 4.71% during the forecast period (2021 - 2028).
Market Competitive Landscape:
List of the key competitors of the global Pharmaceutical Desiccant Market are listed as follows:
- Multisorb Technologies (U.S.)
- Desican Inc (U.S.)
- CSP Technologies, Inc (U.S.)
- R. Grace & Co (U.S.)
- Sanner GmbH (Germany)
- Capitol Scientific, Inc (U.S.)
- I. du Pont de Nemours and Company (U.S.)
- Oker-Chemie GmbH (Germany)
- Desiccare, Inc (U.S.)
- Clariant Global (Switzerland)
- Among others.
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Market Research Future’s Review on Pharmaceutical Desiccant Market
Desiccants are materials that aid in the absorption of moisture as well as introduce the optimum amount of dryness in the environment around the substances. In nature, they are both soluble and insoluble. These assist in removing excess humidity and have increasingly found their way into the pharmaceutical business. The global pharmaceutical desiccant market value is expanding swiftly as a result of widespread use for quality and strength preservation.
Market USP Covered:
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.
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.
Browse In-depth Market Research Report (185 pages) on Pharmaceutical Desiccant
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.
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.
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%.
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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.
Segmentation of Market covered in the research:
Pharmaceutical Desiccant Market Information Report, By Type (Silica Gel, Activated, Carbonclay Desiccant, Molecular Sieves and Others), By End-Use (Tablets, API’s, Capsules, Diagnostic Kit and Nutraceutical Product Packaging), and By Region - Forecast to 2028
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