Global Pharmaceutical Grade Sodium Chloride Market Growing at a CAGR of 6.2% By 2031
Category : Materials And Chemicals | Published Date : Jun 2024
Pharmaceutical Grade Sodium Chloride Market Scope & Overview :
Pharmaceutical Grade Sodium Chloride is a highly refined form of sodium chloride used in manufacturing pharmaceutical products. It is free from impurities and contaminants causing no harm to patients.
Consegic Business Intelligence analyzes that the Global Pharmaceutical Grade Sodium Chloride Market size was valued at USD 457.90 Million in 2022, projected to grow by USD 483.81 Million in 2023, and is expected to register a CAGR of 6.2% to reach USD 781.87 Million by 2031.
This report comprises Pharmaceutical Grade Sodium Chloride Market Share, Size & Industry Analysis, By Type (API-NaCl and HD-NaCl), By Application (Injections, Peritoneal Dialysis, Hemodialysis, Oral Rehydration Salts, Hemofiltration Solutions, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.
This report contains detailed information on Pharmaceutical Grade Sodium Chloride Market Opportunities, Trends, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report analysis, the increase in chronic diseases worldwide and the use of this compound in treatment are driving the pharmaceutical-grade sodium chloride market growth. Sodium Chloride improves blood pressure and circulation in people with cardiovascular disease and rehydrates diabetic people.
Segmental Analysis :
The Pharmaceutical Grade Sodium Chloride Market is segmented into three major segments based on type, application, and region.
Based on type, the market is bifurcated into API-NaCl and HD-NaCl.
- In 2022, the HD-NaCl segment accounted for the highest market share and is also expected to witness the fastest CAGR from 2023 to 2031, due to its rising use in hemodialysis to minimize the dialysis disequilibrium reducing the side effects such as nausea, muscle cramps, lethargy, and fatigue.
Based on the application, the market is divided into injections, peritoneal dialysis, hemodialysis, oral rehydration salts, hemofiltration solutions, and others.
- The injections segment, in 2022, contributed 39.60% of the total market share, as sodium chloride is part of various injections including saline solutions, antibiotics, and pain relievers.
- The hemodialysis segment is expected to register the fastest CAGR over the forecasted period, due to improved access and growing awareness about hemodialysis treatment.
By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The North American region contributed 36.20% valued at USD 165.76 million in 2022, of which the U.S. held the largest market share of 65.31%, as pharmaceutical-grade sodium chloride is used to cure kidney diseases which can be seen in this region.
- During the forecasted period, the Asia-Pacific region is expected to witness the fastest CAGR of 6.8% due to a significant rise in the pharmaceutical and healthcare industry in the region.
| Report Attributes | Report Details |
| By Type | API-NaCl and HD-NaCl |
| By End-Users | Injections, Peritoneal Dialysis, Hemodialysis, Oral Rehydration Salts, Hemofiltration Solutions, and Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. Additionally, this report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Pharmaceutical Grade Sodium Chloride Industry :
- AkzoNobel
- K+S AG
- Dominion Salt
- Salinen Austria AG
- Cargill Incorporated
- Sudsalz
- Cheetham Salt
- Hub Salt
- Tata Chemicals
- US Salt
- Hebei Huachen
- Swiss Saltworks
Recent Industry Developments :
- In August 2023, AkzoNobel acquired the Chinese Decorative Paints business of Sherwin-Williams to propagate the company's position in China by further expanding market segmentation.
- In December 2021, Cargill Incorporated acquired Croda's majority of performance technologies and industrial chemicals business.