- Summary
- Table Of Content
- Methodology
Dextran Market Introduction :
Consegic Business Intelligence analyzes that the dextran market size is growing with a healthy CAGR of 5.1% during the forecast period (2023-2030), and the market is projected to be valued at USD 322.34 Million by 2030 from USD 216.87 Million in 2022.
Dextran Market Definition & Overview :
Dextran is a group of polysaccharides that are made of many glucose molecules. In industries, it is manufactured by fermentation of sucrose and maltodextrins. It is a common name given to the family of microbial polysaccharides, that are composed of simple sugar glucose and stored as fuel in bacteria and yeasts. It is used in the manufacturing of blood plasma extenders, heparin substitutes for anticoagulant therapy, cosmetics, and other products. It is also utilized in the production of Sephadex, which is a key component in the protein separation process in the laboratory and laboratory protein separation.
It has several properties such as higher viscosity, solubility, and thermal and rheological properties due to which, it is used in pharmaceutical, food, and research areas. In medical applications, it is used in intravenous fluids as a lubricant in eye drops and other applications. Based on the analysis, It is also used in the food sector, owing to its properties such as an emulsifier, viscosifier, stabilizer, cryoprotectant, gelling agent, texturing agent, water-binding agent, bio-flocculant, prebiotic, and others. Moreover, it is a key compound used in the pharmaceutical and food industries for the manufacturing of various products.
Dextran Market Insights :
Dextran Market Dynamics - (DRO) :
Key Drivers :
Increasing demand for dextran for the treatment of various medical conditions is benefiting the market
Dextran is a medication used for the management and treatment of various medical conditions such as surgical procedures, shock, hemorrhage, radiological imaging, ophthalmic relief of xerophthalmia, and antithrombotic administration. It is used in the treatment of postpartum hemorrhage, which is the situation of heavy bleeding during childbirth. As per the analysis, several reasons such as infection, prolonged labor, multiple pregnancy, and others are the major causes of postpartum hemorrhage or PPH and it is one of the major causes of pregnancy-related mortality deaths across the globe. For instance, according to the report by the World Health Organization in September 2022, each, year globally 14 million women experience postpartum hemorrhage resulting in 70, 000 deaths worldwide each year. Therefore, the requirement of this compound for the treatment of postpartum hemorrhage and other medical conditions is increasing worldwide. Hence, the increase in the requirement of this compound for the manufacturing of various health medications is increasing. This, in turn, is benefiting the market.
Rising demand for dextran as an anti-platelet drug is boosting the market
Dextran is used as an antiplatelet drug to decrease the viscosity of blood which is useful in preventing blood counts, strokes, and heart attacks. Antiplatelet drugs are also used to prevent the recurrence of a blood clot after the incidence of a heart attack or stroke. The increasing prevalence of cardiovascular diseases worldwide and increasing incidence of heart attacks and strokes are the major factors influencing the requirement for this compound as an antiplatelet drug. For instance, according to the report by the Centers for Disease Control and Prevention in May 2023, globally the number of people suffering from cardiovascular diseases accounted for 375,476 in 2021. Furthermore, according to the report by World Health Organization, each year the number of deaths due to cardiovascular diseases accounts for 17.9 million. Hence, the surging prevalence of cardiovascular diseases along with an increasing number of heart strokes worldwide is increasing the requirement for this compound as an antiplatelet drug. This, in turn, is driving the dextran market growth and trend.
Key Restraints :
Side effects associated with the use of dextran are restraining the market
Dextran offers various beneficial applications in both pharmaceuticals as well as the food sector. While it offers several beneficial applications, its potential adverse effects on the human body can affect the requirement of this compound. Its administration can lead to hypersensitivity, reactions, ranging from mild skin rashes to severe anaphylactic shock. These reactions can be life-threatening and have led to cautious usage of these products particularly in medical settings. Moreover, a high dosage of this compounds leads to renal impairment. The high molecular weight of dextran 40 can accumulate in kidneys, which has led to increased concerns regarding the long-term usage of the compound and its derivatives in patients with pre-existing kidney conditions. Furthermore, the usage of this compound in the form of medication and food products can also lead to several symptoms such as dizziness, difficulty in swallowing, bluish color of the fingernails, lips, skin, palms, or nail beds, chest pain or discomfort, cold, clammy skin, and others. Thus, the health hazards associated with this compound are posing a major roadblock to the market's revenue and trend.
Future Opportunities :
Increasing consumer trends toward healthy and natural food additives will favor market
The increasing trend towards healthy and natural food additives are creating significant dextran market opportunities in the coming years. It is made from the fermentation of natural sugar available in the yeast and bacteria from sources such as molasses. Due to the natural extraction process of this compound, it offers a natural alternative to chemical additives used in the food sector. It is used as a texturing, gelling, emulsifying agent, emulsifying, and viscosity agent in the manufacturing of various food products. According to the analysis, the global requirement for natural food additives is increasing due to growing consumer requirement for healthier and more sustainable food ingredients. Thus, the development in the food additives market worldwide is expected to boost the requirement of this compound in the food sector. For instance, according to the report by the European Ministry of Foreign Affairs in June 2023, the European food additive market in 2021 accounted for USD 9.6 billion which is expected to grow at a CAGR of 5.6% from 2022 to 2028. Hence, the expansion of the food additive market and increasing requirement for natural and health food additives at the global level are spurring the requirement for this compound as it is utilized in food sector applications. This prominent factor is creating opportunities and trends for the dextran market.
Dextran Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 322.34 Million |
| CAGR (2023-2030) | 5.1% |
| By Type | Dextran 20, Dextran 40, Dextran 60, Dextran 70, and Others |
| By Application | Solutions for Injection and Infusion, Dextran Derivatives, Additives, and Others |
| By End-use Industry | Pharmaceutical, Food & Beverages, Agriculture, Cosmetics, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | Pharmacosmos A/S, PK Chemicals, Meito Sangyo, Polydex Pharmaceuticals Limited, Jinyang Pharmaceuticals, Tianxiangyuan, Pfizer, Megazyme Ltd., Merck KGaA, and Fencheng Group Co., Ltd. |
Dextran Market Segmental Analysis :
Based on the Type :
The type segment is categorized into Dextran 20, Dextran 40, Dextran 60, Dextran 70, and Others. In 2022, the Dextran 70 segment accounted for the highest market revenue in the overall market. Dextran 70 is utilized in the pharmaceutical sector for the manufacturing of eye drops for the treatment of dry eyes. Extreme exposure to sunlight, heat, computer lights, and other medical conditions can lead to dryness of the eyes, which can lead to inflammation in the eyes, corneal ulcers, vision loss, and abrasion of the corneal surface. As per the analysis, the growing incidence of eye problems due to corneal damage is driving the demand for eye drops or eye lubricants. For instance, according to the National Center for Biotechnology Information in August 2021, dry eyes and corneal abrasion accounted for 25.8% of eye complications across the globe. Thus, due to the above factors, the deployment of Dextran 70 to cure eye complications is increasing, which, in turn, is benefiting the market trend.
However, the Dextran 40 segment is expected to be the fastest-growing segment during the forecast period. As per the analysis, this is due to the increasing adoption of Dextran 40 for the treatment of deep venous thrombosis in medical applications. It is also used in short-term fluid replacement in trauma and gel filtration technology. Thus, the aforementioned factors are creating lucrative trends for the development of the segment.
Based on the Application :
The application segment is categorized into solutions for injection and infusion, dextran derivatives, additives, and others. In 2022, the dextran derivatives segment accounted for the highest market share in the overall dextran market. The derivatives of this compound include liposome, nanoparticle, pancreatic lipase, macrogol, microparticle, chitosan, polysaccharide, and others. Based on the analysis, these derivatives have a wide range of applications in the pharmaceutical, food & beverages, and cosmetics industries. Various derivatives such as liposome and chitosan are used for cancer treatment. Increasing investment in the development of cancer care medicines is influencing segment rise across the globe over the forecast period. for instance, in March 2023, Pfizer, a global biopharmaceutical company announced an investment of USD 43 billion for the development of cancer care medicines. Thus, due to the above beneficial properties, the deployment of these derivatives is increasing for various pharmaceutical applications and trends, which, in turn, is benefiting the market.
However, the additive segment is expected to be the fastest-growing segment during the forecast period. This is due to the increasing adoption of additives in the food & beverages sector.
Based on the End-use Industry :
The end-use industry segment is categorized into pharmaceutical, food & beverages, agriculture, cosmetics, and others. In 2022, the pharmaceutical segment accounted for the highest dextran market share of 45.25%. It is employed in various applications in the pharmaceutical sector, including the production of various drugs and medicines. Significant rise in the pharmaceutical sector across various developing economies is driving segment. As per the analysis, the increasing investments in the biopharmaceutical sector across the region are the major factor driving the developmnt of the dextran market in the region. For instance, according to the report by the Department of Pharmaceuticals of the Government of India, in March 2023, the annual turnover of the pharmaceutical industry in India accounted for USD 41.47 billion in 2022 which was USD 39.62 billion in 2020, increasing to annual growth rate of 4.89%. Thus, due to the significant development in the pharmaceutical sector and increasing production of drugs and medicines, the dextran market demand is increasing in the pharmaceutical sector, which, in turn, is benefiting the market growth.
However, the food & beverage segment is expected to be the fastest-growing segment during the forecast period because of the increasing requirement for natural additives, and growth in the food processing sector among others.
Based on the Region :
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
In 2022, North America accounted for the highest market share at 38.55% and was valued at USD 83.60 million and is expected to reach USD 124.58 million in 2030. In North America, the U.S. accounted for the highest market share of 66.30% during the base year of 2022. Based on the dextran market analysis, this is due to the growth of the various end-use industries, including pharmaceuticals, food & beverages, and others. For instance, according to the data published by International Trade Administration, the total foreign direct investment in the U.S. for biopharmaceuticals accounted for USD 511.3 billion in 2021, with total spending on research and development accounting for USD 97 billion in 2017 which was more than any other sector in the country. Thus, the significant growth in the pharmaceutical sector is increasing the demand and creating dextran market trends of this compound for drugs and medicines manufacturing in the North American region.
Furthermore, Asia Pacific is expected to witness significant growth over the forecast period, growing at a CAGR of 5.9% during 2023-2030. This is due to the significant growth in the pharmaceutical sector, increasing government initiatives for the development of the pharmaceutical sector, and others.
Top Key Players & Market Share Insights :
The global dextran market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the dextran industry through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
- Pharmacosmos A/S
- PK Chemicals
- Megazyme Ltd.
- Merck KGaA
- Fencheng Group Co., Ltd.
- Pfizer
- Polydex Pharmaceuticals Limited
- Jinyang Pharmaceuticals
- Tianxiangyuan
- Meito Sangyo
Recent Industry Developments :
- In August 2023, Polydex Pharmaceuticals Limited, announced the acquisition with BioSpectra, Inc. and BioSpectra Canada, Ltd. As per the acquisition, Polydex will acquire all the shares and business of BioSpectra, Inc. and BioSpectra Canada, Ltd and expands their business portfolio in North America.
- In September 2019, Pharmacosmos A/S announced the successful registration of its Dextran 40 and Dextran 70 products in China. This will help the company to market its products in China.
Key Questions Answered in the Report
What was the market size of the dextran industry in 2022? +
In 2022, the market size of Dextran was USD 216.87 million
What will be the potential market valuation for the dextran industry by 2030? +
In 2030, the market size of dextran will be expected to reach USD 322.34 million.
What are the key factors driving the growth of the dextran market? +
Increasing demand for dextran for the treatment of various medical conditions is benefiting the market growth.
What is the dominating segment in the dextran market by end-use industry? +
In 2022, the pharmaceutical segment accounted for the highest market share of 45.25% in the overall dextran market.
Based on current market trends and future predictions, which geographical region is the dominating region in the dextran market? +
North America accounted for the highest market share in the overall Dextran market.
