Global pharmaceutical desiccant market
Global pharmaceutical desiccant market was valued at US$ .20 Mn in 2019 and is expected to reach US$ .32 Mn by 2027, at a CAGR of 4.58% during a forecast period.
Global Pharmaceutical Desiccant Market
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Global pharmaceutical desiccant market Definition:
Desiccants are a hygroscopic substance that absorbs and retains water vapor. Utmost desiccants are solids in the form that contain a network of interrelated pores which permit water molecules to become attached to the large internal surface that helps to retain/adsorb moisture as per requirement.
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Global pharmaceutical desiccant market Dynamic
Increased production in the field of pharmaceuticals is highly demanding for pharmaceutical desiccant, is forcing the manufacturer to use this desiccant as per their need which will help this market to grow. Major key drivers of this market are growth in the aging population across the globe that leads to an increase in illnesses and more requirements of medical conveniences thus pharmaceutical desiccant expected to fulfill this requirement demanded from the manufacturing sector of the above-targeted sector and will boost the market demand in coming years. Boost in the income and advanced facility of the pharmaceutical division is attracting the vendors to invest in the market which will contribute to the global pharmaceutical desiccant market during the forecasted period. Consumption of tablet, active pharmaceutical ingredient, nutraceutical products, pharmaceutical kit hence is boosting the demand in the packaging of the above-mentioned sectors as it protects and maintains the moisture content as per product need during transportation.
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Fluctuation in regional temperature is a major factor to restrict the market growth.
Pharmaceutical Desiccant Market Segment analysis
By type segment, the silica gel sub-segment recorded 40% of the overall market share in the global market in terms of revenue in 2019. The silica gel segment is expected to expand at a CAGR of 5.90% during the growing period. The major growth factor is responsible for the nature of silica gel such as a non-flammable, non-toxic result of this it is widely accepted by sensitive materials, foods, and medicines. Furthermore, silica gel has the ability to absorb high moisture levels owing to its highest moisture adsorption capacity amongst other commercial desiccants. In the year 2019, the recorded production of silica gel was kilo tonnes since key manufacturers are engaged within the production of silica gel is making pharmaceutical desiccant product worldwide popular. The global silica gel market was valued US$ Mn 2019 and is expected to reach US$ X.89 Mn by 2027, at a CAGR of X.58% during a forecast period.
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About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healt..