Market Insights:
Pharmaceutical Desiccant are
extensively used for extending the lifespan of medicines. According to Market
Research Future (MRFR)’s recent analysis, the global pharmaceutical desiccant
market is expected to touch a valuation of USD 191.3 Mn by 2023 exhibiting a
CAGR of 4.43% during the assessment period.
The product is used for absorbing
the moisture so that it sustains a standard level of dryness. The growth of the
pharmaceutical Desiccant Industry is likely to boost the revenue creation for
the players of the Pharmaceutical
Desiccant Packaging in the years to come. In addition, the increasing
production of medicines is poised to favor market growth over the next couple
of years.
The rising demand for healthcare
services, in conjunction with the increasing burden of chronic diseases, is
prognosticated to catapult pharmaceutical desiccant market on upward
trajectory. Also, the increasing research & development for drug discovery
is projected to influence the expansion of the market positively.
Competitive Dashboard:
·
Multisorb Technologies
·
E. I. du Pont de Nemours and Company
·
Sanner GmbH
·
Capitol Scientific, Inc
·
Desiccare, Inc
·
CSP Technologies, Inc
·
W. R. Grace & Co
·
Clariant Global
·
Oker-Chemie GmbH
·
Desican Inc
Market Segmentation:
Based on type, the global Pharmaceutical
Desiccant Market has been segmented into silica gel, carbon clay desiccant,
activated, molecular sieves and others. The silica gel segment dominated the
growth trajectory of the market in 2015 with around 40% market share under its
control. The segment was valued at USD 47.2 Mn in 2015 and is prognosticated to
expand at 4.9% CAGR over the forecast period. The product is capable of
absorbing high levels of moisture which is expected to drive the proliferation
of the segment in the years to come. The activated segment was the second
leading segment and was valued at over USD 29 Mn in 2015. It is anticipated to
strike a CAGR of 4.16% across the projection period. The product is used for
purification and moisture removal.
By End-Use, the pharmaceutical
desiccant market has been segmented into tablets, API’s, diagnostic kit,
capsules, and nutraceutical product packaging. The tablets segment accounted
for the major share of 22% in 2015 and was valued at USD over 200 Mn. It is
forecasted to mark a CAGR of 4.85% during the review period. The API segment is
projected to gain traction in the forthcoming years. It scaled a valuation of
USD 203.5 Mn in 2015 and is projected to register a CAGR of 4.37% over the
forecast period.
Regional Analysis:
The global pharmaceutical
desiccant market, by region, is segmented into North America, Europe, Asia
Pacific, and the Rest of the World (RoW). North America held the largest share
of the market in 2015 which accounted for around 30% share. The regional segment
was valued at USD 35.5 Mn and is anticipated to strike a CAGR of 4.37% over the
assessment period. The pharmaceutical industry, as well as the chemical
industry, has been observing an upsurge in demand for desiccants. This, in
turn, is poised to drive the growth of the regional pharmaceutical desiccant
market over the next couple of years.
Europe was valued at USD 31.9 Mn
in 2015 and is likely to maintain its second spot over the next few years. The
rapid developments in the healthcare sector of the region, coupled with new
commercialization models, are expected to boost revenue creation for the
players of the pharmaceutical desiccant market in the region. On the other
hand, Asia Pacific is anticipated to mark the highest CAGR of 4.67% across the
assessment period.
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