Pharmaceutical Desiccant Market - Overview
The Pharmaceutical Desiccant Market is very dynamic in nature and is expected to witness high growth over the forecast period. The growth of the Pharmaceutical Desiccant Market is influenced by growing pharmaceutical industry, increase in ageing population, and government initiative for pharmaceutical industry whereas it is hindered by the stringent regulations and temperature fluctuation.
The continuous growth in the pharmaceutical industry is fuelling the overall growth of the Pharmaceutical Desiccant Market . The rapid growth of the pharmaceutical market is mainly driven by the rising income and economic gains. The rise in the income, especially for the lower income level, along with the government commitments for providing basic health facilities, will make medicines available and affordable for the population. This will lead to the growth of pharmaceutical industry and indirectly will lead to more usage of pharmaceutical desiccant.
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The rise in the ageing population leads to increasing diseases and more requirement of medical facilities in the population. This will increase the usage of medical facilities and health care products. Due to this, there will be an increase in the production of pharmaceutical desiccants. People are becoming aware about the diseases occurring due to growing age and are using the products which are healthy for them.
Government of India has taken various initiatives to ensure the approval, safety and marketing of quality drugs. The Central Drug Standards and Control Organization (CDSCO) provides the standards and measures for safety of the drugs, and ensures quality of the drug. It also regulates the market authorization of new drugs and approves the license for the manufacture of the drug. Due to the above regulatory bodies, there is an increase in the reliability of pharmaceutical products, which has resulted in the increased use of pharmaceutical desiccants.
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), and Oker-Chemie GmbH (Germany) are some of the prominent players at the forefront of competition in the global Pharmaceutical Desiccant Market and are profiled in MRFR Analysis.
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Global Pharmaceutical Desiccant Market - Competitive Analysis
The major market players adopted various strategies to retain and/or expand their market share. Key strategies followed by most companies within the global Pharmaceutical Desiccant Market were new product development. T
he major players operating in this market, to have adopted these strategies are 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. This strategy is widely adopted to increase the number of offerings to the customer. New innovations in the technology of manufacturing desiccants also lead to new product developments.
During the period 2014-2016, amongst all the key developments, E. I. du Pont de Nemours and Company (U.S.) had the largest share of the merger and acquisition strategy. For instance, E. I. du Pont de Nemours and Company (U.S.) acquired Taxon Biosciences, Inc. (California), a leading microbiome discovery company. This acquisition will build on DuPont’s in-house capabilities and unparalleled market access in both seed and crop protection to discover and commercialize biological solutions for agriculture customers globally. The unique technology platform of Taxon Biosciences, Inc. coupled with DuPont’s robust research capabilities and positioning across several markets makes, the integration of Taxon into DuPont, a natural fit and will support DuPont’s ability to bring new products to the market, faster.
Clariant Global adopted joint ventures as its key strategy. The company has undergone joint ventures with ASK Group, Scientific Design Company Inc., Süd-Chemie India Pvt Ltd and others. For instance, the company underwent a joint venture with Scientific Design Company Inc., U.S., a producer of ethylene and oxide catalysts, which is co-owned by the Saudi Arabia-based, Sabic Group and has around 140 employees.
CSP Technologies, Inc. adopted new product development as its key strategy. For instance, the company introduced Pharmapuck™ Scavenging Devices, an Integrated Solution for Oral Solid Dose Products. It can be integrated directly into primary containers to protect oral solid dose (OSD) products from moisture and oxygen absorption.
Global Pharmaceutical Desiccant Market - Segments
Global Pharmaceutical Desiccant Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Type: Comprises – Silica Gel, Activated, Carbonclay Desiccant, Molecular Sieves and Others
Segmentation By End-use: Comprises – Tablets, API’s, Capsules, Diagnostic Kit and Nutraceutical Product Packaging
Segmentation By Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World
Global Pharmaceutical Desiccant Market - Regional Analysis
On the basis of region, North America region dominates the Pharmaceutical Desiccant Market . 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. 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. Growing manufacturing activities and ageing population driving the growth of the market.
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