Sodium bicarbonate – commonly known as baking soda – has witnessed an increased consumption in the pharmaceutical sector. Pharma grade sodium bicarbonate is used as a pH buffering agent for electrolyte replenishing, systemic alkalizer and in topical cleansing solutions. Within the pharma grade sodium bicarbonate market, sodium bicarbonate is mainly utilised as an Active Pharmaceutical Ingredient (API) and as an excipient to treat hemodialysis, metabolic acidosis, uncontrolled diabetics, extracorporeal circulation of blood, cardiac arrest and other severe primary lactic acidosis.
The growing consumption of sodium-based medicines across the globe owing to the high geriatric population has fuelled demand for pharma grade sodium bicarbonate. The global pharmaceutical grade sodium bicarbonate market is anticipated to represent incremental opportunity of US$ 92.3 Mn between 2018 and 2028.
API to continue dominance as chief ingredient in drug formulations
On the basis of application, the global pharma grade sodium bicarbonate market is segmented into active pharmaceutical ingredients (APIs), excipients, tablet coating, hemodialysis, antacids, toothpaste and others. API is anticipated to dominate the global market with more than 30% market share and is expected to continue its dominance in the market through 2028. APIs are increasingly being used by various players for manufacturing effervescent tablets and as an intermediate for the manufacture of various pharmaceutical drugs. In the pharmaceutical sector, APIs are also used to enhance drug abilities.
Studies have also indicated that factors like increased demand for performing drugs in both established and emerging markets and the need for ‘secondary care’ small molecules – integral in prescription drugs issued by specialists such as oncologists, have fuelled the application of APIs in the global pharma grade sodium bicarbonate market. Application of pharma grade sodium bicarbonate in hemodialysis is projected to gain significant revenue share over the forecast period.
North America leading the global market with notably increased consumption of API; growing number of renal cases to fuel hemodialysis
According to the market analysis, North America is anticipated to lead the global pharma grade sodium bicarbonate market and is expected to hold 26.4% share by the end of 2028, owing to the steady growth of the pharmaceuticals industry in the region coupled with the high adoption of APIs. Additionally, the use of APIs and excipients will cumulatively dominate the North America regional market by the end of 2028 and eventually trigger product demand over the forecast period. Owing to the growing number of patients suffering from renal diseases, there has been significant growth in the consumption of pharma grade sodium bicarbonate for hemodialysis solutions. ~10% of the population has been suffering from chronic kidney diseases according to a recent survey, of which ~2 Mn people are given dialysis treatment – this number is expected to double in the coming years.
Due to the shortage of kidney donors and other medical constraints like improper matching of donor and patient medicinal aspects, the rate of kidney transplantation is comparatively less as compared to dialysis. Most of the End Stage Renal Diseases (ESRD) patients are treated through dialysis. Studies have shown that among dialysis types, around 90% of the patients prefer hemodialysis, where sodium bicarbonate finds application as an important active pharmaceutical ingredient.
The report on the global pharma grade sodium bicarbonate market offers detailed insights and in-depth research for a 10 year forecast period 2018–2028. The report covers the important factors driving the growth of the global pharma grade sodium bicarbonate market, untapped opportunities for manufacturers, trends and developments shaping the dynamics of the global pharma grade sodium bicarbonate market and other insights across various key segments.
The report identifies the drivers and restraints impacting the growth of the global pharma grade sodium bicarbonate market. Changing trends that directly and indirectly affect the market are also analysed and incorporated in the report to provide exhaustive information about the market resulting in better decision making.
Global Pharma Grade Sodium Bicarbonate Market: Segmentation
To understand and assess opportunities in the global pharma grade sodium bicarbonate market, the report has been divided into the below sections:
A section of the report highlights country-wise demand for pharma grade sodium bicarbonate and provides a market outlook for 2018–2028. The report also analyses the new technological developments as well as offerings for niche applications in the global pharma grade sodium bicarbonate market.
In the final section of the report, a competitive landscape has been included to provide audiences with a dashboard view. The report provides detailed market share analysis of the pharma grade sodium bicarbonate market on the basis of key manufacturers. Detailed profiles of manufacturers are also included within the scope of the report to evaluate their business and growth strategies, key offerings and recent developments in the global pharma grade sodium bicarbonate market.
Our Research Methodology
Market volume is inferred through in-depth secondary research and validated from industry experts through primary interviews. Each interview is thoroughly analysed and average market volume is deduced and reconfirmed prior to incorporating in the report. The price of global pharma grade sodium bicarbonate is calculated across all the seven assessed regions and the weighted average price is taken into consideration. The market value of the global pharma grade sodium bicarbonate market is thus calculated from the data deduced from the average selling price and market volume.
For the 10 year forecast of the global pharma grade sodium bicarbonate market, various macroeconomic factors and changing trends have been observed, based on which the future of the market is anticipated. Other important factors considered to arrive at market forecast include the size of the current market, inputs from the supply side and the demand side and other dynamics shaping the scenario of the market. In the compilation of the report, the forecasts are conducted in terms of CAGR, while other important criteria such as year-on-year growth and absolute dollar opportunity have also been incorporated giving crystal clear insights and future opportunities.
Pharma grade sodium bicarbonate is increasingly being used for the manufacture of haemodialysis and hemofiltration solutions. Over the past decade there has been substantial increase in renal diseases owing to the changing lifestyle of people. Pharma grade sodium bicarbonate is also used as an important API (Active Pharmaceutical Ingredient) for the manufacture of medicinal drugs and other healthcare chemicals, creating significant traction in the global market. The growth in gastrointestinal diseases and disorders is leading to increased consumption of antacids, in turn paving the way for growth in utilisation of sodium bicarbonate.