Pune, India, July 30, 2019 (GLOBE NEWSWIRE) -- MRFR has asserted that the Pharmaceutical Desiccant Market is likely to reach USD 191.3 Mn at a CAGR of 4.43% by 2027.The use of desiccants has become imperative in the pharmaceutical industry to maintain the quality of pharmaceutical products and prevent them from spoilage. Pharmaceutical products are subject to harm from humidity permeating into the packaging, which might result in film-coated tablets being dissolved at a premature stage. Desiccants prevent such problems and also help enhance product safety. Market Research Future (MRFR) has recently published an in-depth report on the Global Pharmaceutical Desiccant Market and has covered all the macro and micro-economic factors that are likely to affect the market growth over the forecast period of 2014-2027.
Continuous expansion of the Pharmaceutical Industry, which has resulted in increased pharmaceutical manufacturing is spurring the growth of the Pharmaceutical Desiccant Market. Additionally, pharmaceutical products are high in demand due to the increasing prevalence of chronic diseases and growing geriatric population, which has further generated demand for desiccants. Moreover, the use of desiccants become mandatory to ensure compliance with global standards for primary pharmaceutical packaging. The market is anticipated to further benefit from various growth strategies adopted by market players such as mergers and acquisitions. Moreover, growing demand from the developing economies has also supported the growth of the market. On the other hand, the barrier to entry to the market, temperature fluctuations, stringent regulatory norms, and rising customer expectations remain hindrances to the growth of the market.
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Competitive Landscape:
Clariant Global (Switzerland), E. I. du Pont de Nemours and Company (U.S.), Desican Inc (U.S.), Capitol Scientific, Inc (U.S.), Sanner GmbH (Germany), Multisorb Technologies (U.S.), CSP Technologies, Inc (U.S.), Oker-Chemie GmbH (Germany), Desiccare, Inc (U.S.), and W. R. Grace & Co (U.S.) are the key players in the Global Pharmaceutical Desiccant Market.
Industry Updates:
July 2019 - Clariant, a leading specialty chemicals company, announced the sale of its Healthcare Packaging business to an Arsenal Capital Partners affiliate. The healthcare packaging unit of the firm produces a wide range of products such as anisters and packets, integrated desiccant systems and plastic bottles which are designed to provide protection from oxygen and moisture.
Segmentation:
The Global Pharmaceutical Desiccant Market has been segmented based on Type and End-User.
By Type, the Pharmaceutical Desiccant Market has been segmented into silica gel, activated, carbon clay desiccant, molecular services, and others. The silica gel segment captured the largest share of 40% in 2015 and stood at USD 47.2 Mn. The silica gel segment is anticipated to expand at a CAGR of 4.90% over the forecast period. The growth of the segment can be credited to the non-toxic, non-flammable nature f silica gel due to which they can be used in foods, sensitive materials, and medicines. Moreover, silica gel is capable of absorbing high moisture levels due to its highest moisture adsorption capacity as compared to any other commercial desiccant. The activated segment held the second-largest market share in 2015 and stood at USD 29.5 Mn. The segment is likely to register a CAGR of 4.16% over the forecast period.
Browse the market data and information spread across 258 pages with 268 data tables and 25 figures of the report “Pharmaceutical Desiccant Market Report - Forecast 2018-2027” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/pharmaceutical-desiccant-market-4182
By End-User, the Pharmaceutical Desiccant Market has been segmented into tablets, APIs, capsules, diagnostic kit, and nutraceutical product packaging. The tablets segment accounted for the largest share of 22% in 2015 and was valued at USD 208.2 Mn. The segment is anticipated to capture a CAGR of 4.85% over the forecast period. The API segment held the second-largest share of the market in 2015 and is anticipated to expand at the highest CAGR of 4.37% over the forecast period.
Regional Analysis:
Region-wise, the Pharmaceutical Desiccant Market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America captured the largest share of 30% of the Global Pharmaceutical Desiccant Market in 2015 with a valuation of USD 35.4 Mn is anticipated to retain its momentum throughout the forecast period. The high adoption rate of desiccants in the chemical and pharmaceutical sector can be credited for the market growth. There is a high emphasis on the packaging of pharmaceutical products, which has boosted the demand for desiccants. The North America market is anticipated to expand at a CAGR of 4.37% over the forecast period.
The Europe Pharmaceutical Desiccants Market is driven by developments in the healthcare sector. Europe held the second-largest market share in 2015 and was valued at USD 31.9 Mn. New marketing strategies and commercialization models have also helped the market expand. Furthermore, regulations pertaining to medical drugs & device packaging also create a conducive environment for market growth.
The APAC Pharmaceutical Desiccants Market is anticipated to capture the highest CAGR of 4.67% over the forecast period. Rising pharmaceutical manufacturing activities are supporting the growth of the market.
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