The pharmaceutical grade sodium chloride market is set to grow at a 5.9% CAGR, driven by its use in CKD treatment and hemodialysis.
Expected to reach the value of US$ 450 Mn by the end of forecast period (2022 – 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.
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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
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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.
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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.
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.
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The article focuses on the growth of the pharmaceutical grade sodium chloride market and its applications in medical treatments.
How is the market expected to grow? The market is anticipated to grow at a 5.9% CAGR from 2022 to 2029.
What drives the demand for sodium chloride? Its use in CKD treatment and hemodialysis significantly contributes to demand.
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