According to the report titled ‘Global Dimethyl Sulfoxide (DMSO) Market Size study with COVID-19 impact, by Product Type (Industrial grade, Pharmaceutical grade, Electronic grade), by Application (Chemical Industry, Pharmaceutical Industry, Electronic Industry, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global dimethyl sulfoxide (DMSO) market was worth USD 214 million in 2019 and is projected to record a CAGR of 6% during 2020-2027.
 

Growing pervasiveness of osteoarthritis and inflammatory bladder complications, and surging demand for drug discovery applications are the key factors driving the growth of global dimethyl sulfoxide (DMSO) market.
 

For those uninitiated, dimethyl sulfoxide chemical is a colorless liquid utilized as dietary supplement and prescription medicine. It is a polar aprotic solvent and is also miscible in a wide variety of organic solvents as well as water. Dimethyl sulfoxide is available in different grades, which are used for typical formulations in many applications.
 

Extensive usage of product in an array of sectors such as agrochemicals, electronics, plastics, pharmaceuticals, and others, due to excellent chemical properties, such as chemical stability, low toxicity, eco-toxicological profile, and high boiling point is stimulating global dimethyl sulfoxide market growth trends.
 

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According to World Health Organization (WHO), in 2017, 9.6% men and 18% of women aged above 60 years were diagnosed with symptomatic osteoarthritis globally. In addition, 80% of osteoarthritis patients have mobility limits, and about 25 percent are unable to conduct daily activities. Awareness regarding the issues related with osteoarthritis is boosting the worldwide demand for dimethyl sulfoxide (DMSO).
 

The COVID-19 outbreak and the consequent movement restrictions introduced by the government have a serious impact on the chemical industry. Because of the volatility in financial markets and global economy, demand for chemical compounds such as DMSO has plunged, thus hampering global dimethyl sulfoxide market growth.
 

Citing the regional landscape, the report states that North America currently accounts for considerable share of global dimethyl sulfoxide (DMSO) market, on account of surging demand from drug discovery applications, particularly in the U.S.
 

Meanwhile, Asia Pacific dimethyl sulfoxide (DMSO) industry is anticipated to witness a substantial growth during analysis timeframe, owing to surging product demand from electronic sector in the region.
 

Leading organizations in global dimethyl sulfoxide (DMSO) market are Yankuang Lunan Chemicals Co. Ltd., Shanxi Yangmei Fengxi Fertilizer Industry (Group) Co. Ltd., Showa Denko K.K, Zhuzhou Hansen Chemicals Co. Ltd., Parchem Fine & Specialty Chemicals, Sigma-Aldrich Co. LLC, Hubei Xingfa Chemicals Group Co. Ltd., Toray Fine Chemicals Co. Ltd., Gaylord Chemical Corporation, and Arkema Group.