The sodium thiosulphate market is expected to witness a CAGR of around 4% during the forecast period. One of the major factors driving the market studied is the increasing prevalence of renal diseases as sodium thiosulphate is used in treating Calciphylaxis which occurs through kidney failure. Moreover, increasing mine production of gold in Asian countries is also likely to boost the demand for sodium thiosulphate.
- Medical applications dominated the market globally and is expected to grow during the forecast period owing to the increasing cases of kidney failure across the globe.
- Increasing mine production of gold in Asia is also expected to boost the demand for sodium thiosulphate.
- Sodium thiosulphate has recently found application in the prevention of ototoxicity induced by cisplatin chemotherapy. This is expected to act as an opportunity in the future.
- Asia-Pacific dominated the sodium thiosulphate market across the globe owing to the high demand from medical, photograph processing and water treatment industries.
Key Market Trends
Medical Application to Dominate the Market
- One of the major medical applications of sodium thiosulphate is to treat lead, mercury, arsenic and bismuth poisoning. The treatment is done through intravenous injections of STS owing to the lack of toxicity during administration.
- One of the more recent medical applications of STS is in treating Calciphylaxis which is observed in patients suffering from kidney failure. STS is also used in preventing the toxicity of a cancer treating agent called cisplatin.
- Increasing cases of chronic kidney diseases in the United States is expected to drive the medical application of STS during the forecast period. The key factors that are driving the rise in chronic kidney diseases are population growth, increased risk exposure and aging.
- There are several epidemiological studies done in the recent years which suggest the possibility of using STS as an anti-inflammatory agent and as a nueroprotective agent.
- Hence, Medical application is likely to remain the most dominant application and occupy the largest market share during the forecast perioid.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share. The demand for STS is high from medical, photograph processing and water treatment industries of Asia-pacific region.
- Investment in water treatment chemicals in China is likely to increase owing to the increased focus on water treatment in the 13th five-year plan. This increase in demand for water treatment chemicals is likely to boost the demand for STS.
- Apart from these, factors like growing investments in healthcare and growing disposable income in countries like India are also expected to boost the demand for STS in Asia-pacific.
- The increasing number of patients suffering from renal diseases in countries like India and China is also expected to boost the demand for sodium thiosulphate in the Asia-Pacific region. These factors are likely to propell the demand for STS in the region.
The global Sodium thiosulphate market is moderately consolidated. Some of the major companies of this market include Esseco SRL, Merck KGaA, Allan Chemical Corporation, Calabrian Corporation, and Skyhawk Chemicals, among others.
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