The pharmaceutical desiccant market in the Asia Pacific region is developing at the CAGR of 4.89% during the estimated years 2019-2027. Rising utilization in sectors like packaging, electronics, and pharmaceuticals is advancing the market growth in the region.
The Asia Pacific region consists of countries such as India, South Korea, China, Australia, Japan, and the Rest of Asia Pacific regional segment that includes other Asia Pacific countries. The market segmentation comprises of end-use and type. The varied end-use augmenting the growth of the market are tablets, APIs, capsules, nutraceutical product packaging, and diagnostic kit. China is one of the dominating countries in the Asia Pacific region due to the increasing production of pharmaceutical desiccant in the country. Further, the rising investments of South Korea in R&D activities is propelling the country’s pharmaceutical industry, in turn paving the way for the prosperous pharmaceutical desiccant market in the region.
Oker-Chemie GmbH, W. R. Grace & Co., Sorbead India, Rotor Source Inc., Proflute AB, Munters AB, Sanner GmbH, and Tropack GmbH Trockenmittel, among others, are few companies operating in the pharmaceutical desiccant market. The leading players focus on strategies like new product development, acquisition, and partnerships. Along with the presence of dominant players, the requirement of capital investment for manufacturing facilities and R& D activities are posing as entry-level barriers for new entrants in the market.