Market Insights:
Pharmaceutical desiccants 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.
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The product is used for absorbing the moisture so that it sustains a standard level of dryness. The growth of the pharmaceutical industry is likely to boost the revenue creation for the players of the pharmaceutical desiccant market 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
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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 Analysis 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.
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