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Global Pharmaceutical Glycerin Based Products Market Overview
Pharmaceutical Glycerin Based Products Market Size was valued at USD 0.197 Billion in 2022. The Pharmaceutical glycerin based products market industry is projected to grow from USD 0.220 Billion in 2023 to USD 0.550 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.10% during the forecast period (2023 - 2032). Increasing the use of glycerin to treat illnesses that cause elevated eye pressure such as glaucoma is the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Pharmaceutical Glycerin Based Products Market Trends
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Increasing the use of glycerin in the treatment of conditions like glaucoma that result in increased eye pressure is driving the market growth
The pharmaceutical and ophthalmology sectors' increased use of glycerin in the treatment of conditions that result in raised eye pressure, like glaucoma, is a key factor driving the market for products containing glycerin to new heights. Elevated intraocular pressure (IOP) is frequently a symptom of glaucoma, a group of eye illnesses characterized by progressive optic nerve damage. For a number of reasons, the use of glycerin as an osmotic agent in regulating IOP has gained popularity.
Glycerin has proven to be efficient at lowering intraocular pressure, which is crucial for managing glaucoma. Glycerin can effectively lower IOP when given orally because it draws fluid out of the eye, reducing pressure that might otherwise cause optic nerve injury and vision loss. Its acceptance as a medicinal agent is being fueled by this efficacy.
Glycerin is a popular option for people with glaucoma because it is often well-tolerated by patients and has few negative effects. Glycerin is less prone than some other drugs to have systemic side effects, such as cardiovascular or respiratory problems, which can be problematic for glaucoma patients, particularly the elderly. Thus, driving the Pharmaceutical glycerin based products market revenue.
Pharmaceutical Glycerin Based Products Market Segment Insights
Pharmaceutical glycerin based products Drug Type Insights
The Pharmaceutical Glycerin Based Products Market segmentation, based on drug type, includes dermatological, opthalmic, cough remidies, glycerine rectal and angina. The dermatological segment dominated the market in 2022. Skin disorders are becoming more common: Eczema, psoriasis, acne, and dry skin are just a few of the dermatological conditions that are becoming more common. Due to its hydrating and moisturizing qualities, glycerin is a common component in dermatological products meant to treat and manage various disorders.
Figure 1: Pharmaceutical Glycerin Based Products Market, by drug type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Pharmaceutical glycerin based products Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Pharmaceutical Glycerin Based Products Market dominated this market in 2022 (45.80%). Pharmaceutical businesses in North America create glycerin-based topical medications for ailments like eczema and psoriasis. Various solutions are designed to relieve the itch, redness, and inflammation brought on by various skin conditions. The expansion of this market sector is driven by the desire for safe and efficient treatments for persistent skin disorders. Further, the U.S. Pharmaceutical glycerin based products market held the largest market share, and the Canada Pharmaceutical glycerin based products market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: PHARMACEUTICAL GLYCERIN BASED PRODUCTS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Pharmaceutical glycerin based products market accounts for the second-largest market share. Glycerin-based products that provide all-natural and mild skincare treatments are in high demand in Europe. Consumers in Europe choose goods with few ingredients and allergies, in line with the region's emphasis on skincare products that are both safe and effective. Glycerin is a preferred ingredient in these compositions because of its hydrating qualities. Further, the German Pharmaceutical glycerin based products market held the largest market share, and the UK Pharmaceutical glycerin based products market was the fastest growing market in the European region.
The Asia-Pacific Pharmaceutical Glycerin Based Products Market is expected to grow at the fastest CAGR from 2023 to 2032. Natural and herbal medicines are preferred in many Asian cultures. Since it may be made from plant sources, glycerin is appropriate for formulations that follow customs and preferences. Moreover, China’s Pharmaceutical glycerin based products market held the largest market share, and the Indian Pharmaceutical glycerin based products market was the fastest growing market in the Asia-Pacific region.
Pharmaceutical Glycerin Based Products Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Pharmaceutical glycerin based products market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Pharmaceutical glycerin based products industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Pharmaceutical glycerin based products industry to benefit clients and increase the market sector. In recent years, the Pharmaceutical glycerin based products industry has offered some of the most significant advantages to medicine. Major players in the Pharmaceutical glycerin based products market, including Capsugel, dupoint, AbbVie Inc, Croda International plc, Emery Oleochemicals, Johnson and Johnson, Bausch Health Companies Inc., Abbott Laboratories, Takeda Pharmaceutical Company, The Dow Chemical Company, Takeda Pharmaceutical Company Ltd. and others, are attempting to increase market demand by investing in research and development operations.
Croda International Plc (Croda) is a chemical company that manufactures and sells specialist chemicals. Crop care, geo technology, health care, home care, industrial chemicals, lubricants, personal care, and polymer additives are a few of the industries that use the company's active ingredients and cosmetic oils in addition to coatings and polymers. It provides products to a variety of industries, including the personal care, industrial specialty, and health sciences. The company also has operations in the US, Brazil, Argentina, Sweden, Australia, South Africa, France, China, Indonesia, and other nations. Croda's headquarters are in Goole, in the East Riding of Yorkshire, in the United Kingdom.
DuPont de Nemours Inc (DuPont), formerly known as DowDuPont Inc., is a company that provides technology-based products and solutions. It addresses both the front and back ends of the manufacturing process by offering materials and printing systems to the advanced printing industry as well as materials and solutions for the fabrication of integrated circuits and semiconductors. The company's product line includes resins, adhesives, advanced printing solutions, animal nutrition, building supplies, biomaterials, electrical solutions, textiles, fibers & nonwovens, food & beverage ingredients, industrial films, and other items. Among the industries it helps are those in the automobile, building and construction, energy, electronics, food and beverage, textile, aerospace, medicine, personal care, and packaging and printing. DuPont's US headquarters are in Wilmington, Delaware.
Key companies in the pharmaceutical glycerin based products market include
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Capsugel
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dupoint
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AbbVie Inc.
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Croda International plc.
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Emery Oleochemicals
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Johnson and Johnson
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Bausch Health Companies Inc.
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Abbott Laboratories
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Takeda Pharmaceutical Company
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The Dow Chemical Company
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Takeda Pharmaceutical Company Ltd.
Pharmaceutical Glycerin Based Products Industry Developments
December 2022: Producer of oleochemicals Oleon is investing USD 50 million in the purchase of a blending facility in Conroe, Texas. The business made improvements to its oleochemicals section, which makes glycerin.
October 2021: A new 110,000 metric ton (MT) per year oleochemical facility at Prai, Penang, will be built by IOI Corporation Berhad, with a capital investment of MYR 220 million. The principal raw ingredients for personal care and cosmetic products, glycerine and fatty acids based on palm and palm kernels, were the main targets of the new factory. The building of the plant is anticipated to be finished by the second quarter of 2022.
Pharmaceutical Glycerin Based Products Market Segmentation
Pharmaceutical Glycerin Based Products Drug Type Outlook
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Dermatological
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Opthalmic
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Cough Remidies
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Glycerine Rectal
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Angina
Pharmaceutical Glycerin Based Products Regional Outlook
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North America
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U.S.
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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