Global Pharmaceutical Desiccant Market Information Report, By Type (Silica Gel, Activated, Carbonclay Desiccant, Molecular Sieves and Others), By End-Use (Tablets, API’s, Capsules, Diagnostic Kit and Nutraceutical Product Packaging), and By Region – Forecast To 2027
On the basis of region, North America region dominates the pharmaceutical desiccant market. It accounted for the largest market share of 30% in 2015, with a market value of USD 35.4 million and is projected to grow at the CAGR of 4.37% during the forecast period. High adoption of desiccants for pharmaceutical and chemical sectors helped the North America desiccant market stay ahead of other regional markets. Europe was the second-largest market in 2015, valued at USD 31.9 million in 2015. Latest developments in healthcare sector and the strategies behind them to new marketing and commercialization models and the regulations drives the Europe pharmaceutical desiccant market. However, Asia-Pacific is projected to grow at the highest CAGR of 4.67%. Growing manufacturing activities and ageing population driving the growth of the market.
The market has been segmented based on type, and end-user. On the basis of type, the market is segmented into silica gel, activated, carbonclay desiccant, molecular sieves and others. Silica Gel accounted for the largest market share of 40.00% in 2015, with a market value of USD 47.2 million and is projected to grow at the highest CAGR of 4.90% during the forecast period. Silica gel is non-toxic, non-flammable and safe to use to protect foods, medicines, sensitive materials and much more. It is extremely porous and capable of absorbing high levels of moisture. It has highest moisture adsorption capacity of any commercial desiccant which makes it one of the most effective ingredients for products .It is designed to prevent corrosion during transportation and storage. Activated was the second-largest market in 2015, valued at USD 29.5 million in 2015; it is projected to grow at a CAGR of 4.16%. Activated Alumina is widely used for removing moisture, purification and other treatments. On the basis of end uses, Tablets accounted for the largest market share of 22% in 2015, with a market value of USD 208.2 million and is projected to grow at a CAGR of 4.85% during the forecast period. API’s was the second-largest market in 2015, valued at USD 203.5 million in 2015; it is projected to grow at the highest CAGR of 4.37%.
The prominent players in the pharmaceutical desiccant include E. I. du Pont de Nemours and Company (U.S.), Multisorb Technologies (U.S.), Sanner GmbH (Germany), CSP Technologies, Inc (U.S.), Capitol Scientific, Inc (U.S.), Desiccare, Inc (U.S.), W. R. Grace & Co (U.S.), Desican Inc (U.S.), Clariant Global (Switzerland), Oker-Chemie GmbH (Germany) and others.
Hence, global pharmaceutical desiccant market is expected to reach a market size of USD 191.3 million by the end of the forecast period at CAGR of 4.43%.