Pharmaceutical Desiccant Market

• Growing generic population across the globe.

The geriatric population is increasing across the globe, with variations by country. The geriatric population is projected to become one of the most significant social transformations of the twenty-first century, with implications for nearly all the sectors of society, including financial and labor markets; demand for goods and services, such as housing, transportation, and social protection; as well as intergenerational ties and family structures.

As per the latest data published by the United Nations (UN) in 2020, there were approximately 727 million people aged 65 or over in the world, comprising 9.3% of the global population. The population aged 65 or above is expected to more than double, reaching over 1.5 billion by 2050. By 2050, all regions of the world except Africa are expected to have nearly a quarter or more of the population aged 60 and above.

The number of geriatric population in the world is projected to be 1.4 billion in 2030 and 2.1 billion in 2050 and could rise to 3.1 billion in 2100.

According to the United Nations Population Fund (UNFPA), the number of older people in the Asia-Pacific region is rising at an unprecedented rate. The region is at the forefront of the global phenomenon of population aging and is expected to triple by 2050, reaching close to 1.3 billion people. Another data published by Population Reference Bureau (PRB) in 2019 stated that Asia and Europe are the home to the world’s oldest populations, aged 65 and above. Japan (28%) registered the highest geriatric population, followed by Italy (23%), Finland, Portugal & Greece (22%), and China (12%).

In addition, the countries in the southern European region, including Croatia, Malta, Portugal, Greece, Italy, Slovenia, Serbia, and Spain, accounted for 21% of the population aged 65 and above.

The ascent in the maturing population prompts an increasing number of diseases and the necessity of medical facilities. It is expected to increase the utilization of medicinal facilities and healthcare products. The increase in the adoption of healthcare products is expected to boost the manufacturing and use of pharmaceutical desiccants, which are durable and safe. Thus, the growing geriatric population is expected to be the prime factor driving the growth of the global market during the assessment period.

Expanding pharmaceutical industry

The pharmaceutical industry plays a dynamic role in developing vaccines & medications to reduce the risks and treat severe diseases and simultaneously improve the personal satisfaction of individuals. The industry has a key contribution to developing technologically advanced products through imaginative research to meet the growing demand. Globally, pharmaceutical services have become one of the fastest-growing segments—both in terms of income and business. Due to the strengthening services of the pharmaceutical industry across the globe, the demand for pharmaceuticals is expected to gain momentum in the coming future.

Technological advancements and favorable government policies are also positively impacting the growth of the pharmaceutical industry globally. Thus, the growth of the pharmaceutical industry is expected to increase the investment in research and development of pharmaceutical desiccants, which is expected to boost the growth of the Pharmaceutical Desiccants Market in the forthcoming years.

Growth in packaging industry

Packaging is an economical means to protect a product during storage and distribution. Packaging is a coordinated system for preparing goods for transportation and logistics. However, changes in packaging technologies in the past decade have helped preserve the content from external impurities such as moisture, bacteria, and corrosion. Packaging is of different types, of which rigid and flexible packaging have gained momentum in the global market. Furthermore, packaging may be described in relation to the variety of products being packed, i.e., pharmaceutical packaging, medical device packaging, chemical packaging, and food packaging.

In general, packaging plays a vital role in the growth of the pharmaceutical industry as it maintains the integrity of the final finished product in different ways, such as by protecting from external impurities, protection against containment during storage, carriage, and the product can be consumed for a long period.

Packaging in the pharmaceutical industry is highly advanced owing to the quality and safety issues of the final finished products. The use of high-grade plastic materials and advanced technology for pharmaceutical packaging is the only essence of the packaging market success in the pharmaceutical sector. Due to the strong competition among the regional and global players in the pharmaceutical industry, they need to deliver a final product to the customer in a reliable manner with high protection, tamper-proof, quality, patient security needs, and comfort.

However, continuous innovation for packaging in the pharmaceuticals industry, such as vials, anti-counterfeit measures, unit dose vials, and child-resistant packs, have positively impacted the growth of the packaging industry. Furthermore, some of the key players in the pharmaceutical industry are setting up packaging plants to manufacture desiccants according to safety standards, which will protect the finished product from external impurities. For instance, in February 2021, Clicant (India) announced the launch of its third manufacturing facility in Pune, India. The new launch is aimed at expanding the company’s manufacturing facility threefold to cater to the rising demand for desiccants.

Thus, the growth of the packaging industry is expected to boost the demand for the product and fuel the growth of the global market during the forecast period.

The Global Pharmaceutical Desiccants Market Industry experiences a growing demand for stability in pharmaceutical products. As the industry evolves, the need for moisture control becomes paramount to ensure the efficacy and shelf life of medications. Desiccants play a crucial role in maintaining the integrity of sensitive formulations, particularly in regions with high humidity. The market is projected to reach 105.6 USD Million in 2024, reflecting an increasing awareness among manufacturers regarding the importance of moisture management. This trend is likely to continue as regulatory bodies emphasize quality assurance in pharmaceutical production.

By Region, the study segments the Pharmaceutical Desiccants market into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The sizable pharmaceutical desiccants industry in North America is likely to make the region the largest expanding global market for pharmaceutical desiccants. The countries of the US and Canada form the market for pharmaceutical desiccant in the North American region. The US FDA is regarded as one of the best regulatory bodies in the world. Product approvals are quick, with a median time of approximately 13 months.

On the other hand, the country's free pricing policy is a major benefit to the pharmaceutical desiccant industry. Additionally, the strong pharmaceutical manufacturing base in the region, due to supportive government regulations and high R&D expenditure, bodes drives the growth of the market. Moreover, the growing geriatric population will drive the pharmaceutical desiccants market. For instance, according to Administration on Aging (AoA) (part of the Administration for Community Living) an operating division of the U.S.

Department of Health and Human Services, in the U.S. the population age 65 and older numbered 54.1 million in 2019 which represents 16% of the total us population.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Pharmaceutical Desiccants Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Pharmaceutical Desiccants Market industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global pharmaceutical desiccants industry to benefit clients and expand the Pharmaceutical Desiccants market sector is partnerships and acquisitions. The market for Pharmaceutical Desiccants is recognized as being extremely competitive and fragmented. The market for Pharmaceutical Desiccants offers considerable potential opportunities for domestic and unorganized companies. Some of the key players operating are E. I. Du Pont De Nemours and Company (US), Filtration Group Corporation (US), Sanner GmbH (Germany), Clariant Global (Switzerland), CSP Technologies Inc (US), Capitol Scientific Inc (US), Desiccare Inc (US), W. R.

Grace & Company (US), Desican Inc (Canada), and Oker Chemie GmbH (Germany). To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.

Oker-Chemie GmbH.: Oker-Chemie GmbH (Oker-Chemie) specializes in the production and distribution of specialty chemicals, which are used in a wide range of applications in the industrial, packaging, and transport sectors. It provides solutions for protection against humidity and water treatment. It operates through four business segments, namely, adsorbents, OBRA-desiccant bags, potassium alum, and aluminum salts. Pharmaceutical desiccants are manufactured under the absorbents segment and are sold under the brands "SIOGEL," "Sorbsil Chameleon," and "OBRA.

Desican Inc: Desican Inc. is a worldwide distributor and manufacturer of pharmaceutical desiccants, including desiccant pillow paks, silica gel packets, desiccant canisters, alumina balls, molecular sieve packets, HIC cards, activated carbon packets, desiccant tablets, oxygen absorbers, shipping container desiccant, and pharmaceutical coils in different shapes, sizes, and colors. Its products are Food and Drug Administration (USFDA) and Drug Master File (DMF) approved and ISO 9001-2008 certified.