Pharma Grade Synthetic Camphor Market is expected to reach US$ 532.0 Million by 2028, with a CAGR of 4.2%
According to the company’s most recent study, the global Pharma Grade Synthetic Camphor Market revenue is expected to be worth US$ 532.0 million by the end of 2028.
The research on the Pharma Grade Synthetic Camphor market forecasts tremendous development potential, with an average year-on-year growth rate of 4.2% projected through 2028.
The increasing demand for topical pain relief solutions is likely to drive the growth of the Pharma Grade Synthetic Camphor market. Many topical analgesic preparations, such as oils, ointments, chest rubs, and gel, contain pharmaceutical grade synthetic camphor.
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These Pharma Grade Synthetic Camphor pain management treatments are gaining popularity due to fewer adverse effects than oral analgesics and increased retail channel access. The rising rate of self-medication and the availability of low-cost camphor-containing OTC analgesics favour the expansion of the Pharma Grade Synthetic Camphor industry.
The rising prevalence of infectious disorders such as colds and flu has increased the usage of cold sore treatments, nasal decongestants, topical expectorants, and so on, driving the growth of the Pharma Grade Synthetic Camphor market. The growing usage of private labelled topical camphor products drives up demand for Pharma Grade Synthetic Camphor.
Private label analgesics are gaining appeal in the US market since they do not require FDA approval or extensive retail promotion. Private label analgesics that contain camphor include Walgreens Ultra Strength Muscle Rub (4% camphor) and Salonpas pain reducing patch (1.2% camphor). Increased commodity exports, economic growth, and production capacity are likely to drive the Pharma Grade Synthetic Camphor market forward.
However, regulatory restrictions on the use of camphor in the medicine of pharmaceutical products would considerably impact the growth of Pharma Grade Synthetic Camphor market. Moreover, increasing raw material prices are expected to hamper the growth of Pharma Grade Synthetic Camphor market. Thus, growing prices of raw materials i.e. alpha pinene or turpentine oil is a major challenge for the manufacturers of Pharma Grade Synthetic Camphor.
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The global Pharma Grade Synthetic Camphor market has been classified by the company into formulation, application, distribution, and geographies. The Pharma Grade Synthetic Camphor market is divided into topical and inhalation formulations. Because of the large number of marketed products and diverse applications, the topical sector is predicted to have the biggest revenue share in the Pharma Grade Synthetic Camphor market.
Applications of Pharma Grade Synthetic Camphor included in the report are respiratory disorders applications, muscular rheumatism, counterirritant & antipruritic and others (topical analgesic, cold sores, minor burns, antifungal, hemorrhoids, topical antitussive & expectorant, astringent, rubefacient, etc.). Others segment expected to contributes highest market value in global Pharma Grade Synthetic Camphor market. Based on the distribution channel, Pharma Grade Synthetic Camphor market is segmented into conventional B2B and online B2B channel. In terms of revenue, conventional B2B segment would hold significant revenue share in Pharma Grade Synthetic Camphor market over the forecast period.
On the basis of region, the global Pharma Grade Synthetic Camphor market has been segmented into North America, Latin America, Western Europe, Eastern Europe, the Asia Pacific excluding China & Japan, China, Japan, and the Middle East & Africa. North America is expected to contribute highest revenue share in global Pharma Grade Synthetic Camphor market.
The demand of Pharma Grade Synthetic Camphor has increased in North America, as increasing production of camphor contained private label and OTC products. China is expected to witness the highest growth rate in Pharma Grade Synthetic Camphor market due to presence of the larger number of Pharma Grade Synthetic Camphor manufactures. Pharma Grade Synthetic Camphor manufactures are mainly concentrated in China and India and they export their chemicals to the U.S. and Europe. Moreover, due to its growing contribution to the global industry, Asia Pacific is emerging as a focused destination for global manufacturers of camphor and related chemicals.
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Report tracks some of the key companies operating in the global Pharma Grade Synthetic Camphor market. Representative players included in the global Pharma Grade Synthetic Camphor market report are 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. and Fengchen Group Co., Ltd. Manufactures are focusing on improvement of the supply chain which expected to provide huge opportunities to them over the forecast period.
Pharma Grade Synthetic Camphor Market Segmentation – by Category
By Formulation Type:
- Respiratory Disorders
- Muscular Rheumatism
- Counterirritant and Antipruritic
By Distribution Channels:
- Conventional B2B
- Direct Procurement
- Wholesalers & Distributors
- Online B2B
- Internal Channel
- External Channel
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