Medical Grade Sodium Chloride Market - Global Industry Analysis, Size, Share, Growth, Trends

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Medical Grade Sodium Chloride: Introduction

·         Sodium chloride is a basic chemical with wide applications in end-use industries such as medication, cosmetics, dietetic food, and cosmetic products. In the pharmaceutical or medical industry, sodium chloride is used in the manufacture of several products such as oral rehydration salts, dialysis & infusion solutions, and injection and saline drips.

·         Medical grade sodium chloride is used in hemodialysis, peritoneal dialysis, hemofiltration solutions, oral rehydration salts (ORS), channeling agents/osmotic agents, mechanical cleansing solutions, and injections

Key Drivers of Global Medical Grade Sodium Chloride Market

·         Increase in health care expenditure and significant growth of the medical industry, primarily in developed regions, are expected to drive the demand for medical grade sodium chloride during the forecast period

·         Rise in number of patients associated with chronic and kidney diseases across the globe is also a key factor driving the market for medical grade sodium chloride during the forecast period.

·         Growth in demand for medical grade sodium chloride as vital chemical in oral rehydration salt (ORS) and presence of large numbers of pharmaceutical companies are also expected to boost the market in the near future

·         Rise in in anxiety and lifestyle-related diseases; increase in awareness about health insurance; and ease of availability of drug in the pharmaceutical sector are also estimated to augment the global market

·         Increase in research and innovation in the drug sector is also likely to propel the medical grade sodium chloride market in the next few years

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Oral Rehydration Salt Application Segment to Dominate Global Market

·         The oral rehydration salt application segment is expected to dominate the medical grade sodium chloride market during the forecast period. Oral drug delivery has yielded superior results for manufacturers, due to high patient compliance, cost-effectiveness, lower sterility, flexibility in the design of dosage form, and ease of production. Medical grade sodium chloride is used extensively in the manufacture of oral rehydration salts.

Global Medical Grade Sodium Chloride Market: Restraining Factors

·         Enactment of strict government regulations and certifications and low profitability are major factors hampering the global market. High demand for certified water quality is expected to pose a challenge to the growth of the global medical grade sodium chloride market during the forecast period.

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Covid-19 Impact on Medical Grade Sodium Chloride Market

·         The ongoing pandemic and consequent protocols that have been implemented to address public health and safety concerns have led to a rise in demand for disinfectant chemicals. This has boosted the demand for medical grade sodium chloride. Companies across the globe are ramping up their production to meet the sudden spike in demand for medical grade sodium chloride. Thus, the demand for medical grade sodium chloride has been increasing even during the COVID-19 pandemic.

Asia Pacific to Hold Significant Share of Global Medical Grade Sodium Chloride Market

·         In terms of region, the global medical grade sodium chloride market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         The market in North America and Europe is expected to expand at a significant pace during the forecast period. North America has better health care infrastructure and invests significantly in research and development. This is anticipated to boost the market in the near future.

·         Asia Pacific is projected to dominate the global medical grade sodium chloride market during the forecast period. Countries in Asia Pacific have high production rate for OTC drugs in the pharmaceutical market.

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Key Players Operating in Market

Leading manufacturers of medical grade sodium chloride are investing in research and development activities as well as capacity expansions. Key players operating in the global medical grade sodium chloride market include:

·         AkzoNobel

·         K+S AG

·         Dominion Salt

·         Salinen Austria AG

·         Cargill Incorporated

·         Sudsalz

·         Cheetham Salt

Global Medical Grade Sodium Chloride Market: Research Scope

Global Medical Grade Sodium Chloride Market, by Product

·         API-NaCl

·         HD-NaCl

Global Medical Grade Sodium Chloride Market, by Application

·         Injection

·         Hemodialysis

·         Oral Rehydration Salts

·         Osmotic Agents

·         Others