NEWARK, Del, July 01, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the worldwide pharma grade sodium bicarbonate market is expected to reach US$ 274.8 million in 2024 and US$ 387.7 million by 2034. The market is projected to rise at a CAGR of 3.5% by 2034.
The global pharma grade sodium bicarbonate market is driven by the increasing consumption of sodium bicarbonate by the pharmaceutical industry, particularly as an active pharmaceutical ingredient (API). It is widely used in treating metabolic acidosis, hemodialysis, cardiac arrest, extracorporeal blood circulation, and uncontrolled diabetes.
The growing geriatric population is set to drive demand for sodium-based medications. API is expected to become the dominant chief ingredient in drug formulations, enhancing the capabilities of various drugs. Furthermore, the application of sodium bicarbonate for hemodialysis is also expected to increase during the forecast period.
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Research and development activities are focusing on new applications of pharmaceutical-grade sodium bicarbonate. A study by the University of Liverpool and the Karolinska Institute in Sweden found that giving women pharma-grade sodium bicarbonate in addition to oxytocin increased their chances of natural vaginal delivery by 17%. This research is set to drive growth and unlatch new applications for pharmaceutical-grade sodium bicarbonate.
Key Takeaways from the Pharma Grade Sodium Bicarbonate Market Report:
- The pharma-grade sodium bicarbonate market is expected to reach a value of US$ 387.7 million by 2034.
- The market is projected to surge at a CAGR of 3.5% by 2034.
- China's pharma-grade sodium bicarbonate market is expected to grow at a CAGR of 3.9% by 2034.
- The United States is projected to rise at a CAGR of 2% in 2034.
- Pharmaceutical-grade sodium bicarbonate market is expected to reach US$ 372.4 million, growing at a CAGR of 3.5% from the forecast period 2023 to 2033
- Based on grade, the coarse segment is expected to hold a market share of 78.2% in 2024.
"Government policies, such as foreign direct investments, healthcare facilities, and infrastructure development programs, are set to drive revenue growth in the global pharma-grade sodium bicarbonate market. E-commerce dominates pharma grade sodium bicarbonate market, leading companies to invest in robust strategies to grow reach and enhance customer experience." – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape
The global pharma-grade sodium bicarbonate market is dominated by leading manufacturers, with Tier-I companies developing high-quality pharma-grade baking soda and mining technologies.
Leading companies are focusing on new product launches, collaborations, mergers, acquisitions, and joint ventures to distribute their products in healthcare institutions. Other companies are conducting extensive research and development to introduce innovative sodium bicarbonate medications for various disorders. The market is expanding geographically to cater to a larger consumer base, generating revenue through potential applications.
For instance,
- In 2023, Nephron Pharmaceuticals Corporation launched an 8.4% sodium bicarbonate injection as its first product in a COC syringe, bolstering growth momentum under the Nephron 503B Outsourcing Facility operation.
- In 2024, Akums Drugs & Pharmaceuticals Ltd introduced a chewable tablet with sodium alginate and potassium bicarbonate as an advanced anti-reflux antacid, approved by the Drugs Controller General of India.
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Leading Pharma Grade Sodium Bicarbonate Brands
- Dr. Paul Lohmann GmbH KG
- GHCL Limited
- CIECH S.A.
- Natural Soda LLC
- Jost Chemical Co.
- Tornox Alkali Corporation
- Tata Chemicals
- Solvay SA
- Novacarb
Key Segments of Market Report
By Grade:
As per grades, the industry has been categorized into fine and coarse grades.
By Application:
Based on applications, the industry is segmented into active pharmaceutical ingredients (APIs), excipients, antacids, hemodialysis, tablet coating, toothpaste, and others.
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, and the Middle East and Africa.
Author by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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