Sodium Alginate for Pharmaceutical Market to Grow at a CAGR of 3.8% during 2021-2028

Published on: 07 Apr 2022


Increasing number of cancer and diabetes patients, and increasing use of excipients drive the growth of the North America Sodium Alginate for Pharmaceutical Market.

Market Size – USD 90.5 Million in 2020, Market Growth – at a CAGR of 3.8%, Market Trends – Decline in price of sodium alginate and concentrated market with limited number of companies

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.

Key Highlights

  • Some of the prominent companies involved in North America Sodium Alginate for Pharmaceutical Market includes DuPont, KIMICA corporation, Algaia and Qingdao Bright moon seaweed group co Ltd.
  • The companies present are constantly spending on research and innovation to deliver unmatched values to the pharma industry. Recently, research institutions in U.S were researching on the use of Sea weeds to treat covid-19
  • Existing large companies have expertise in providing the required grades for pharmaceutical uses and have long terms tie-ups with end-use pharma companies
  • The market is niche and concentrated and hence it is difficult for new comers and mid-size companies to expand and grow amidst giant companies who have their presence in the market from decades and offers differentiated products at economy pricing.

To get leading market solutions, visit the link below:

  • Application Outlook (Revenue, US$ Million; 2017–2027)

    • API
    • Excipients
  • Region Outlook (Revenue, US$ Million; 2017–2027)

    • North America
      • The U.S.
      • Canada

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