Pharmaceutical Grade Sodium Chloride is Presumed to Exceed a Value of US$ 430 Mn by 2028 end
Robust Production of Hemodialysis Solutions to Push the Chinese Market
The US$ 69.8 Mn Chinese market for pharmaceutical grade sodium chloride is likely to thrive at a healthy value CAGR of 7.3% over 2018-2028. Applications in hemodialysis and hemofiltration solutions will remain top consumers, bringing over 80% of the total revenues. “China will dominate in terms of both production and consumption. Soaring production of hemodialysis solutions in China will predominantly boost the market for pharmaceutical grade sodium chloride in China,” states a research analyst at Future Market Insights.
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Rising Renal Failure Cases to Provide Traction to the Indian Market
The Indian market for pharmaceutical grade sodium chloride is currently worth US$ 6.5 Mn, expected to see an impressive CAGR of 8.5% through to 2028. Future Market Insights estimates more than 38,000 metric tons of consumption volume to be attained by the Indian market by 2028 end. Soaring number of cases of patients suffering from kidney failure and other renal disorders is identified to be the key factor driving the demand for pharmaceutical grade sodium chloride in production of dialysis and perennial solutions.
Other Factors Impacting the Performance of Markets in China and India
Growing demand for hemodialysis and hemofiltration solutions
Increasing consumption of ORS solutions
Improving healthcare facilities and infrastructure
Favorable government policies
Foreign direct investments
Escalating demand from overseas markets will also provide traction to sales of pharmaceutical grade sodium chloride in both the regions. Growth of market in India is specifically uplifted by relatively higher domestic production and consumption levels, and better cost benefits.
Key Player Analysis
Some of the leading players in the global pharmaceutical grade sodium chloride market are K+S Group (ESCO Salt), AkzoNobel N.V., Morton International, and U.S. Salt LLC. According to Future Market Insights’ research, Indian market for pharmaceutical grade sodium chloride has over 100 manufacturers, which make it the third largest producer on a global level. Chinese market revenue is majorly concentrated in Tianjin Changlu Haijing Group Co., Ltd., Hebei Huachen Pharmaceutical Co., Ltd., and Thai Refined Salt Co., Ltd. Several key players are focusing more on their capacity expansion and many others are considering introduction of new products to the market with additional novel functionalities.
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A few of the global key companies, including N.V. and K+S Group, are planning expansion in India. Manufacturers and end-users are prioritizing long term supply agreements, which in turn is propelling sales of pharmaceutical grade sodium chloride over the forecast period. Strengthening of distribution channels is another paramount for top market players in a bid to enhance their global reach. Will improvement in distribution channels lead to improved market conditions in developed regions and developing ones other than China and India? The report can offer more insights.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
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