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%.
- 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.
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.
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
Global Pharma-grade Magnesium Trisilicate Market: Research Scope
Global Pharma-grade Magnesium Trisilicate Market, by Type
Global Pharma-grade Magnesium Trisilicate Market, by Application
Global Pharma-grade Magnesium Trisilicate Market, by Distribution Channel
- Online Stores
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.