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The pharmaceutical desiccant market in the North America region is projected to grow at a CAGR of 4.38% throughout the forecast period 2019-2027. The region contributed to approximately XX% of market share in 2018 and is expected to contribute XX% of share by 2027. The pharmaceutical desiccant is utilized in pharmaceutical packaging to protect medicines from moisture and other impurities. Growth in the geriatric population is one of the key reason for the augmenting demand of the pharmaceutical desiccant in the region.
North America region is one of the leaders in the global pharmaceutical desiccant market. Type and end use of pharmaceutical desiccants are the major segments of the market. The market is finding its application in pharmaceutical, oil and gas, and petrochemical industries, which is also the primary reason for the growing revenue of the market in the region. Moreover, the continuous rise in the aging population and the numerous initiatives undertaken by the government to ensure the quality of drugs has further uplifted the market value in the region.
Some of the renowned companies operating in the market are Capitol Scientific Inc., Clariant North America, CSP Technologies Inc., Desiccare Inc., E. I. Du Pont De Nemours and Company, Multisorb Technologies, Munters AB, and Oker-Chemie GmbH. The dominant focus on numerous corporate strategies to maintain a strong position in the market.