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The global pharmaceutical grade sodium chloride market size was USD 350 million in 2022 and is expected to reach USD 591.32 million in 2032,

NEW YORK, NY, UNITED STATES, May 5, 2023 /EINPresswire.com/ --

The global pharmaceutical grade sodium chloride market was USD 350 million in 2022 and is projected to grow at a CAGR of 6% to reach USD 591.32 million in 2032. The market is driven by the increasing demand for intravenous sodium chloride solutions in hospitals and clinics, as well as the rising prevalence of chronic diseases. Pharmaceutical grade sodium chloride is extensively used as an excipient in intravenous solutions for various medical treatments such as hydration, medication delivery, and wound care.

The adoption of new manufacturing techniques, particularly continuous manufacturing, is driving the demand for pharmaceutical grade sodium chloride. Furthermore, the demand for sodium chloride in wound care applications is increasing due to the need for better wound care solutions. Sterile manufacturing techniques in the pharmaceutical industry are also contributing to the growth of the market.

However, the market growth is likely to be hindered by factors such as the availability of alternative products, volatility in raw material prices, and strict regulatory standards governing the manufacturing and use of pharmaceutical grade sodium chloride. On the other hand, the increasing demand for customized medicine and the expansion of Contract Manufacturing Organizations (CMOs) are creating opportunities for the market to grow.

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Segments Covered in the Report –

The global sodium chloride market is categorized based on product type, application, and distribution channel. The market is projected to witness significant growth during the forecast period (2019-2032).

Product Type Outlook: The product type outlook is divided into oral grade, injectable grade, topical grade, and others. The oral grade segment accounted for the highest revenue in 2019 and is expected to continue to dominate the market during the forecast period. Injectable grade sodium chloride is expected to witness significant growth during the forecast period due to its use in the manufacturing of intravenous solutions for various medical treatments.

Application Outlook: Based on application, the sodium chloride market is segmented into infusion, hemodialysis, oral rehydration salts, and others. The infusion segment dominated the market in 2019 and is projected to maintain its dominance during the forecast period. The hemodialysis segment is expected to witness significant growth during the forecast period due to the increasing prevalence of kidney diseases worldwide.

Distribution Channel Outlook: The distribution channel outlook includes hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment accounted for the highest revenue in 2019 and is expected to continue to dominate the market during the forecast period. However, the online pharmacy segment is expected to witness significant growth during the forecast period due to the increasing trend of online purchasing and the convenience it offers.

In conclusion, the global sodium chloride market is projected to grow significantly during the forecast period, driven by factors such as the increasing prevalence of chronic diseases and the rising demand for intravenous solutions. The oral grade segment and infusion segment are expected to dominate the market in terms of revenue, while hospital pharmacy is expected to remain the dominant distribution channel. However, the market is likely to face challenges such as strict regulatory standards and the availability of alternative products.

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Strategic development:

Several companies have announced their plans to expand their production capacity and launch new pharmaceutical-grade sodium chloride products in recent years. In 2021, CordenPharma International GmbH revealed its intention to expand its peptide manufacturing facility in Switzerland to boost its position in the pharmaceutical grade sodium chloride market and strengthen its presence in the peptide market.

Akzo Nobel N.V. signed a strategic agreement with Jilin Connell Chemical Industry Co., Ltd. in 2020 to increase its salt production capacity in China. This expansion aimed to meet the growing demand for pharmaceutical-grade sodium chloride in the Asia Pacific region.

In 2019, K+S AG expanded its production capacity for pharmaceutical-grade sodium chloride in Germany to cater to the increasing demand for pharmaceutical-grade sodium chloride from the European market.

Hubei Xingfa Chemicals Group Co., Ltd. launched a new line of pharmaceutical-grade sodium chloride products in 2021 that comply with international standards. The company's new product line includes sterile injection grade and hemodialysis grade sodium chloride.

Dominion Salt Ltd. introduced a new pharmaceutical-grade sodium chloride product called ‘PureDialysis’ in 2020. This product is designed for use in dialysis solutions and meets international quality standards.

Sudsalz GmbH launched a new line of high-quality pharmaceutical-grade sodium chloride products, including sterile injection grade and hemodialysis grade, in 2019. The company's new product line is aimed at satisfying the growing demand for high-quality pharmaceutical-grade sodium chloride products in the European market.

Competitive Landscape:

The global pharmaceutical grade sodium chloride market is dominated by a few prominent players that hold a significant share of the market revenue. These players are engaged in research and development activities to produce innovative and high-quality pharmaceutical-grade sodium chloride products that meet the growing demand from the pharmaceutical industry.

K+S AG, Akzo Nobel N.V., CordenPharma International GmbH, Hubei Xingfa Chemicals Group Co., Ltd., and Hebei Huachen Pharmaceutical Co., Ltd. are some of the major companies operating in the pharmaceutical grade sodium chloride market. These companies are involved in strategic partnerships, collaborations, and mergers to expand their market presence and strengthen their product portfolio.

Dominion Salt Ltd., Salinen Austria AG, Sudsalz GmbH, Swiss Saltworks AG, and Cheetham Salt Limited are some of the other key players operating in the market. These companies are focusing on increasing their production capacity and investing in research and development activities to develop new and innovative pharmaceutical-grade sodium chloride products to meet the growing demand from the pharmaceutical industry.

The increasing demand for high-quality pharmaceutical-grade sodium chloride products and the growing need for customized medicine are driving the growth of the market. However, the market is facing challenges such as the availability of substitute goods, fluctuating raw material prices, and strict regulatory standards governing the manufacturing and use of pharmaceutical-grade sodium chloride.

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Nikhil Morankar
Reports and Data
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