Pharma-grade Magnesium Trisilicate Market: Introduction
Magnesium trisilicate is an organic compound used in various formulations as an anti-adherent, lubricant, antacid, and antioxidant. It is non-hazardous, white, odorless fine powder having good acid neutralizing properties. Magnesium trisilicate mixture is safe for use in pregnant women and offers a greater chance for a healthy baby.
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Key Drivers and Opportunities of Global Pharma-grade Magnesium Trisilicate Market
Safe use of magnesium trisilicate as an antacid medication for pregnant and lactating mothers is anticipated to drive the market. Moreover, magnesium trisilicate is also utilized to relieve the symptoms of indigestion, heartburn, or gastroesophageal reflux disorder (GERD).
Change in lifestyle and dietary habits leads to gastroesophageal reflux disorder and thereby increase the number of patient suffering from GERD. This, in turn, is estimated to drive the demand for products and subsequently, propel the market. GERD is a chronic gastrointestinal disorder and most commonly diagnosed digestive disorder in the U.S., with a prevalence of 20%.
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Demand for pharma-grade magnesium trisilicate has increased in developing and developed markets. Market players are adopting the strategy of appointing third-party distributors to expand their presence. This has led to a surge in the number of distributors and suppliers in emerging markets. This creates a lucrative opportunity in the market. For instance, Bruchem, Inc. is a wholesaler and supplier of chemicals and related products since 1994 and supplies magnesium trisilicate in the U.S.
However, country-wise lockdown due to COVID-19 outbreak leads to hindrance in the supply chains of products. This, in turn, led to the shortage of products.
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North America to Capture Major Share of Global Pharma-grade Magnesium Trisilicate Market
North America is expected to account for a major share of the global pharma-grade magnesium trisilicate due to a rise in prevalence of gastrointestinal disorders. According to an article published in Gastroenterology & Hepatology, dyspepsia is significantly more prevalent in the U.S., as compared to that in Canada
Asia Pacific is anticipated to account for a considerable share of the global pharma-grade magnesium trisilicate market from 2020 to 2030. The market in the region is projected to expand at a rapid pace during the forecast period. Expansion of the market in the region is attributed due to a surge in number of entrants of new suppliers and manufacturers
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Key Players Operating in Global Pharma-grade Magnesium Trisilicate Market
The global pharma-grade magnesium trisilicate market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective regions. Demand for pharma-grade magnesium trisilicate has increased in emerging as well as developed markets owing to a rise in the prevalence of infectious diseases.
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Major players operating in the global pharma-grade magnesium trisilicate market are:
- Merck KGaA
- Par Drugs and Chemical Limited
- Osian Marine Chemicals Pvt.Ltd
- JIGCHEM UNIVERSAL
- Ams Fine Chemicals
- PQ Corporation
- ELITE CHEMICALS
- Penta Manufacturer
- BOC Sciences
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