Pharmaceutical Grade Sodium Chloride Market is forecast to reach $714.6 million by 2025, after growing at a CAGR of 6.9% during 2020-2025. Sodium chloride or Industrial Sodium Chloride is a simple chemical that has applications in end-use industries such as medications, cosmetics, processed foods, and cosmetics. Increased use of sodium chloride in the manufacture of many products such as dialysis & infusion therapies, oral rehydration salts, injections, and salt drops in the pharmaceutical industry will drive the market. Rising demand in the pharmaceutical sodium-chloride market is projected to push up elevated healthcare expenditure and substantial growth in the pharmaceutical industry, primarily in the developing regions over the forecast period.
Pharmaceutical Grade Sodium Chloride Market Segment Analysis – By Application
Injections held the largest share in the pharmaceutical grade sodium chloride market in 2019 and are projected to grow at a CAGR of 5.2% during the forecast period 2020-2025. Sodium chloride is used in the pharmaceutical industry to manufacture various products, for example, injections. Sodium chloride injection is used to replace lost body fluids and salts in the pharmaceutical industry. Sodium chloride injections can be used as a sterile irrigation solution as it contains no antimicrobial agents. Also, the other medicines which are given by injection or by drip may be diluted with sodium chloride injections as well. Thus, due to the above factors, the demand for injections is anticipated to rise, leading towards the growth of the pharmaceutical grade sodium chloride market.
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Pharmaceutical Grade Sodium Chloride Market Segment Analysis – By Geography
North America held the largest share with 34% in the Pharmaceutical Grade Sodium Chloride Market in 2019. The demand for pharmaceutical grade sodium chloride market is driven by the increasing demand from the healthcare industry in this region. The U.S. and Mexico have better healthcare infrastructure and invests heavily in research and development owing to which they dominate the healthcare sector in the North American region. The rates of medical treatment for resistant patients are greater than those of the patients with non-resistible illnesses, regardless of their long-term, extra testing and the use of more complex medications, according to the World Health Organization (WHO). According to the Pharmaceutical Research and Manufacturers Association (PhRMA), the U.S. firms conduct more than half of the world’s pharmaceutical research and development ($75 billion) and hold intellectual property rights to most new medicines. Also, according to the International Trade Administration, in Mexico, the import market for medical devices and supplies reached USD 5.7 billion in 2019. The Mexican healthcare sector is an important market for all forms of goods and services, although the business side of the public sector has experienced a wide range of changes in the procurement system and delivery structure with uncertain ultimate results since mid-2019.
Pharmaceutical Grade Sodium Chloride Market Drivers
Increasing demand due to advancements in Matrix Tablets
Owing to high patient compliance, cost-effectiveness, lower sterility, limitations, versatility like the dosage type and ease of processing, oral drug delivery has produced superior results for manufacturers and end-users as a route to drug administration. Demand for matrix tablets is an important aspect for the excipient and dosage forms of controlled and sustained release. Pharmaceutical grade sodium chloride is widely used in the manufacture of such matrix tablets. The continuous increase in stress and diseases linked to lifestyle will fuel the need for innovation and development, introducing new drug delivery technologies to the market. This in effect would increase the need for innovative drug formulations. With increased awareness of health insurance and better medication quality and affordability, the pharmaceutical industry is on the road to exponential growth as a result of which demand for sodium chloride in pharmaceutical-grade is expected to increase in the coming years.
Increase in Chronic Kidney Diseases
Chronic kidney disease (CKD) is a disorder characterized by a progressive loss of function in the kidney over time. The global burden of chronic kidney disease (CKD) is rising as a result of increasing non-communicable illnesses (NCDs) and other risk factors. According to the National Center for Biotechnology Information, Chronic kidney disease affects approximately 10% of the world’s adult population. Thus, to prevent chronic kidney diseases pharmaceutical grade sodium chloride is widely used. Sodium, a vital nutrient for sustaining plasma volume and plasma osmolality, participates in a variety of important metabolism routes for maintaining life. Sodium chloride loading from pharmaceutical grade also improves albuminuria in non-primary-renal patients and increases albumin and protein discharge in renal disease patients.
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Pharmaceutical Grade Sodium Chloride Market Challenges
Consumption of high dietary sodium
High dietary sodium raises oxidative stress in the renal medulla by increasing the production and decreasing the breakdown of reactive oxygen species. Too much sodium can be dangerous since the kidneys cannot remove excess sodium and fluid from the body. As the blood pressure increases sodium and fluid buildup in the tissues and bloodstream. High blood pressure will harm the dysfunctional kidneys even more. This damage further reduces the functioning of the kidneys, resulting in even more fluid and gradually building waste within the body. The effect of high dietary intake of sodium to promote fibrosis and other lesions is not limited to the kidney but is also observed in the cardiovascular system. According to the National Center for Biotechnology Information, the prevalence of hypertension is up to 92 percent among CKD patients and it has been demonstrated that 60–90 percent of this population consumes excess sodium.
Pharmaceutical Grade Sodium Chloride Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the pharmaceutical grade sodium chloride market. Major players in the pharmaceutical grade sodium chloride market are AkzoNobel, K+S AG, Dominion Salt, Salinen Austria AG, Cargill Incorporated, Sudsalz, Cheetham Salt, SSP Pvt Limited., Spectrum Chemical Manufacturing Corp. PBR, and Hub Salt among others.
Due to a large number of players in the drug industry and the increased demand from the well-developed healthcare industry in the region, North America dominated the sodium chloride pharmaceutical-grade market.
Product discovery and upgrades along with application expansion are defined as key growth strategies adopted by the major manufacturers.
The role of government and non-profit organizations in the production of pharmaceutical-grade solutions will be a driving force in low-income economies.
Pharmaceutical-grade sodium chloride uses appear to differ in the treatment of a variety of diseases such as gastrointestinal conditions, diabetes, and blood and kidney cancer over the past 10 years, culminating in a rise of almost 40 percent in sodium pharmaceutical-grade production.
The Outbreak of COVID-19 is projected to affect the chain of supply of the medicinal product, including possible delays or shortcomings, according to the Food & Drug Administration (FDA) in 2020-2021.
Related Reports :
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B. Pharmaceuticals Grade Sodium Bicarbonate Market
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