Sodium selenite market

Q: Which are the prominent regions in the market?

North America is the prominent region in the market. Read more

Sodium Selenite Market, by Indication (Selenium Deficiency, Cancer, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Nov 2022
CMI5361
150 Pages
Excel & Pdf
Pharmaceutical

Summary

Sodium selenite is a common source of selenium in biological research, because selenium is an essential trace element that is normally delivered by serum. Selenium is found in selenoproteins such as glutathione peroxidase and thioredoxin reductase, which contain selenocysteine, the selenium analogue of cysteine. In particular, glutathione peroxidase, which is a peroxide scavenger, plays a part in detoxification in vivo.

Sodium selenite is found in a variety of media additives used in cell culture. Sodium selenite has been used in cell proliferation research and cancer research. It has been used to modify HepG2 cell gene expression as measured by cDNA microarrays.

Global Sodium Selenite Market - Impact of the Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According 9to the Coronavirus (COVID-19) Dashboard by the World Health Organization, over 613 million cases and 6.51 million deaths due to coronavirus disease (COVID-19) were reported till September 25, 2022, across the globe.

Impact of COVID-19 on Demand and Supply of Sodium Selenite

The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; by directly affecting the production and demand of healthcare products; by creating disruptions in distribution channels; and by affecting the companies and various markets financially. Several countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.

According to the Springer Nature journal, March 2022, sodium selenite has oxidizing properties that may influence the structure of virus proteins responsible for host cell penetration. Moreover, immunity can be raised safely by starting preventive selenium supplementation, especially in the elderly. Since each chemical form of selenium has distinctive biological properties that can be essential in the overall prevention of COVID-19 disease, it is critical to understand the possible consequences of the diverse chemical forms of selenium. Additionally, sodium selenite is an inexpensive and widely accessible chemical. Due to the number of benefits and potential uses of sodium selenite, COVID-19 is anticipated to have a positive impact on market growth over forecast period.

The global sodium selenite market is estimated to be valued at US$ 45.2 Mn in 2022, and is expected to exhibit a CAGR of 9.3% over the forecast period (2022-2030).

Figure 1: Global Sodium Selenite Market Share (%) Analysis, By Indication, 2022

Global Sodium Selenite Market – Key Drivers

For instance, according to Dove Press journal, March 2019, a study was conducted in China by researchers of Medical University, Harbin. Mesenchymal stem cells were extracted from mouse bone marrow and studied for differentiation and proliferation after being treated with sodium selenite (Na2SeO3). It was discovered that Na2SeO3 promotes bone marrow mesenchymal stem cells' (BMSCs') proliferation and differentiation while also shortening their coagulation time. This action may increase BMSCs' therapeutic potential.

Increasing applications of sodium selenite in cancer, is expected to aid in driving the growth of the global sodium selenite market over the forecast period. For instance, according to an article published in Hindawi journal, a study was conducted in Hubei Selenium and Human Health Institute, China, in October 2019, the findings of this study revealed a novel combination therapy using sodium selenite (SS) and a prodrug of doxorubicin/adriamycin (ADM), which prevented gastric cancer cells from proliferating and encouraged their death by apoptosis.

Sodium Selenite Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2022:	US$ 45.2 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	9.3%	2030 Value Projection:	US$ 91.8 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Indication: Selenium Deficiency, Cancer, Others (digestive support, dental amalgam removal, etc.) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Companies covered:	MP Biomedicals, Otto Chemie Pvt. Ltd., American Elements, Global Calcium PVT LTD, Sisco Research Laboratories Pvt. Ltd., HiMedia Laboratories., Research-Lab Fine Chem Industries, Omkar Speciality Chemicals Ltd., Vital Materials Co., Limited., Spectrum Laboratory Products, Inc., Estechpharma Co.,Ltd., Quality Chemicals, SL, and Salvi Chemical Industries Ltd.
Growth Drivers:	Increasing R& D activities Increasing application of sodium selenite Increasing business expansion by market players
Restraints & Challenges:	Harmful effects associated with sodium selenite

Global Sodium Selenite Market- Restraint

Harmful effects of sodium selenite is expected to be major restrain for the market growth. Some of the hazards associated with sodium selenite are-

Contact with sodium selenite can cause severe skin and eye irritation as well as burns and probable eye damage
Contact can severely irritate and burn the skin and eyes with possible eye damage
Breathing Sodium Selenite can irritate the nose, throat and lungs causing coughing, wheezing and/or shortness of breath
High exposure can cause headache, nausea, vomiting, coated tongue, metallic taste, and a garlic odor of the breath
Long-term exposure can damage the red blood cells causing anemia (low blood count)

Global Sodium Selenite Market – Regional Analysis

On the basis of region, the global sodium selenite market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to exhibit lucrative growth opportunities for the sodium selenite market, owing to increasing prevalence of cancer in the region as sodium selenite known to have act as an anti-cancer agent. For instance, according to Center for Disease Prevention and Control (CDC), in 2019, 1,752,735 new cancer cases were reported and 599,589 people died of cancer in the U.S. For every 100,000 people, 439 new cancer cases were reported and 146 people died of cancer in the U.S.

Moreover, Europe is expected to witness significant growth in the near future, owing to rising business expansion by market players in the U.K. For instance, in September 2020, Glentham Life Sciences, a producer of fine chemicals such as sodium selenite, announced the purchase of a 22,000 square foot plant in Corsham, Wiltshire, U.K. The company is investing in new machinery and facilities to expand its current laboratory and storage facilities in order to increase its production and selling of its chemicals and other services

Figure 2: Global Sodium Selenite Market Value (US$ Mn), by Region, 2022

Global Sodium Selenite Market – Competitive Landscape

Major players operating in the global sodium selenite market include MP Biomedicals, Otto Chemie Pvt. Ltd., American Elements, Global Calcium PVT LTD, Sisco Research Laboratories Pvt. Ltd., HiMedia Laboratories., Research-Lab Fine Chem Industries, Omkar Speciality Chemicals Ltd., Vital Materials Co., Limited., Spectrum Laboratory Products, Inc., Estechpharma Co.,Ltd., Quality Chemicals, SL, and Salvi Chemical Industries Ltd.

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- Frequently Asked Questions -

What will be the compound annual growth rate (CAGR) of the global sodium selenite market during the forecast period (2022-2030)?

Global sodium selenite market is expected to exhibit a CAGR of 9.3% during the forecast period (2022-2030).

What is the estimated market size of the market in 2022?

The market is estimated to be valued at US$ 45.2 Mn in 2022.

Which are the prominent players operating in the market across the globe?

MP Biomedicals, Otto Chemie Pvt. Ltd., American Elements, Global Calcium PVT LTD, Sisco Research Laboratories Pvt. Ltd., HiMedia Laboratories., Research-Lab Fine Chem Industries, Omkar Speciality Chemicals Ltd., Vital Materials Co., Limited., Spectrum Laboratory Products, Inc., Estechpharma Co.,Ltd., Quality Chemicals, SL, and Salvi Chemical Industries Ltd. are some of the prominent players operating in the market.

What are the growth estimates for the market till 2030?

The market is expected to be valued at US$ 91.8 Mn in 2030.

Which are the prominent regions in the market?

North America is the prominent region in the market.

What are the key factors driving growth of the market?

Increasing R& D activities, increasing application of sodium selenite and increasing business expansion by market players are some of the driving factors, which are expected to drive growth of the market.