China's pharma-grade synthetic camphor market is projected to grow at a CAGR of 3.8% between 2024 and 2034, maintaining its position as the largest contributor to the East Asia market. This growth is driven by increasing demand in the pharmaceutical sector for applications such as topical medications, antiseptics, and respiratory treatments.
NEWARK, DE / ACCESSWIRE / December 1, 2024 / The global market for pharma-grade synthetic camphor is on an upward trajectory, with projections indicating a rise from USD 449.3 million in 2024 to USD 652.4 million by 2034. This represents a compound annual growth rate (CAGR) of 3.8% over the forecast period between 2024 and 2034. In 2023, the revenue from pharma-grade synthetic camphor was USD 432.8 million, marking a strong year of growth for this essential compound.
The sustained growth in the pharma-grade synthetic camphor market can be attributed to its diverse applications within the pharmaceutical and healthcare industries. As a key ingredient derived from chemical synthesis, synthetic camphor has proven its value in both therapeutic and over-the-counter (OTC) products. With properties that include analgesic, anti-inflammatory, and antimicrobial effects, pharma-grade synthetic camphor plays a vital role in improving patient care.
Its widespread use in topical formulations, as well as in respiratory products, underscores its significance. This versatile compound is increasingly incorporated into a variety of pharmaceutical applications, contributing to the market's expansion.
As the demand for effective, multi-purpose pharmaceutical ingredients continues to grow, pharma-grade synthetic camphor remains a cornerstone of innovation in the industry, supporting the development of both existing and new therapies.
This surge in use of private labelled topical products containing camphor, increasing rate of self-medication among patients and availability of over-the-counter (OTC) drugs and economic growth is been expected to aid the recovery in certain commodity exports such as camphor.
The global upswing in the investment thus, enthusing the major recovery in mature markets is been witnessed as a critical market driver for the pharma grade synthetic camphor market. However, the shift of positive market sentiments in developing economies, partial recovery in commodity prices are the factors, which are aiding the growth of the market.
Detailed Market Study: Full Report and Analysis
https://www.futuremarketinsights.com/reports/pharma-grade-synthetic-camphor-market
Key Takeaways:
The global sales of pharma-grade synthetic camphor are projected to reach USD 449.3 million in 2024, with an estimated growth to USD 652.4 million by 2034, reflecting a compound annual growth rate (CAGR) of 3.8% during the forecast period.
In 2023, the pharma-grade synthetic camphor market generated USD 432.8 million in revenue.
Key regions are expected to demonstrate varying growth rates:
USA: Expected to show a modest 1.2% CAGR from 2024 to 2034.
Germany: Projected to exhibit a 1.3% CAGR over the forecast period.
China: Predicted to lead with a strong 3.8% CAGR.
France: Anticipated to experience a 1.9% CAGR.
India: Expected to see the highest growth at 4.3% CAGR.
Spain: Forecasted to grow at a 2.2% CAGR.
Australia: Expected to grow at 1.7% CAGR.
South Korea: Projected to witness a 3.0% CAGR.
Overall, the market is expected to continue its steady expansion, driven by consistent demand across both established and emerging markets.
"The continued growth of the pharma grade synthetic camphor market can be attributed to the increasing recognition of its therapeutic benefits, particularly in pain relief and inflammation reduction. As the healthcare industry evolves, the demand for multifunctional ingredients such as synthetic camphor, with its analgesic, anti-inflammatory, and antimicrobial properties, will continue to drive market growth. The rising prevalence of chronic conditions that require long-term topical and respiratory treatments also contributes to the expanding use of synthetic camphor in pharmaceutical formulations." opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Competitive Landscape:
Market players are employing various strategies to maintain competitiveness, including product differentiation through innovative formulations and forging strategic partnerships with healthcare providers for improved distribution. A key focus for these companies is actively seeking strategic partners to enhance their product portfolios and expand their presence in global markets.
Recent Industry Developments in the Pharma-Grade Synthetic Camphor Market
In July 2024, Mangalaim Organics Limited acquired the remaining 10% stake in Mangalam Pooja Stores Private Limited from Sandeep Shriya for INR 0.1 million.
Saptagir Camphor Limited is expanding its market footprint by prioritizing the production of high-quality synthetic camphor. As of July 1, 2024, the company stands to benefit from the overall market growth, fueled by increasing demand in pharmaceuticals and personal care products.
Key Players of Pharma Grade Synthetic Camphor Market:
Merck KGaA
Oriental Aromatics Limited
Saptagir Camphor Limited
Mangalam Organics Limited
Nippon Fine Chemical Co., Ltd.
Rochem International, Inc.
Spectrum Chemical Mfg. Corp.
Aldon Corporation
Prinova Group LLC.
Fengchen Group Co., Ltd
High Demand for Pharma Grade Synthetic Camphor: Uncover the Trends and Insights with Our Detailed Report!
https://www.pharmiweb.com/press-release/2023-07-04/pharma-grade-synthetic-camphor-market-is-expected-to-reach-us-5320-million-by-2028-with-a-cagr-of
Key Segments of Pharma Grade Synthetic Camphor Market
By Formulation Type:
In terms of formulation type, the industry is divided into topical and inhalation.
By Application:
In terms of application, the industry is segregated into respiratory disorders, muscular rheumatism, counterirritant and antipruritic and others
By Distribution Channels:
In terms of distribution channels, the industry is segregated into conventional B2B (tenders, direct procurement, wholesalers & distributors) and online B2B (internal channel, external channel)
By Region:
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia and Middle East and Africa (MEA) have been covered in the report.
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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