The Sodium Alginate for Pharmaceutical market has registered US$ 90.5 million in 2020, and projected to reach at US$ 121.9 million by 2028, according to recent study done by Eternity Insights. The U.S stands first in pharmaceutical spending covering expenditure on prescription medicines and self-medication. The increasing number of cancer and diabetes patients, treatment of covid affected patients, and growing geriatric population is accelerating the demand of sodium alginate pharmaceutical API’s and excipients products. According to Globocan, there were 2.28 million cancer patients in the USA in 2020. Canadian Cancer Society had projected 229200 new cancer cases in Canada in 2021. According to Government of Canada, there are more than 3.4 million Canadians with diabetes. According to CDC, the number of diabetes patients in the US is over 34 million.
Excipients are yet another major application which is used as fillers & diluents, binders and disintegrants in pharmaceutical products. Besides it used as pharmaceutical additives in eye drops. The active ingredient remains on the surface owing to thickening properties of alginic acids resulting in prolonged residence time of eye drops. According to the U.S. Census data and Simmons National Consumer Survey (NHCS) 117.45 million Americans used eye drops and eye wash in 2020.
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