The Growing Demand for Pharma-Grade Synthetic Camphor Market: An Overview of the Market Dynamics Growth and Future Grow Industry Forecast by 2030

Recently, a latest report emphasizing on the evolution and progress of the global pharma-grade synthetic camphor market has been posted to the huge database of Reports and Insights, entitled “Global Pharma-Grade Synthetic Camphor Market 2023 Report”. The report renders qualitative and quantitative synopsis of the conceptual framework and rational approach of the market together with the data related to market size, segmentation, textual & graphical assessment of the global market growth trends over the forecast period of 2023 to 2030.

The global pharma-grade synthetic camphor market in 2020 is estimated for more than US$ 167.3 Mn and expected to reach a value of US$ 236.1 Mn by 2028 with a significant CAGR of 4.4%.

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Pharma-Grade Synthetic Camphor Market Dynamics

Factor like the growing demand for the private labeled topical products containing camphor is expected to boost the market growth in developed regions like North America. For instance, the demand for OTC analgesics containing pharma-grade synthetic camphor includes Walgreens Ultra Strength Muscle Rub (4% camphor), Salonpas pain relieving patch (1.2% camphor), etc. These are among private label analgesics and they do not require FDA approval and thus are gaining more popularity in the U.S. market.

Also, the rebound in global trade promoting growth for camphor exports coupled with the growing trend of self-medication amongst the patients is also responsible for fueling the demand for pharma-grade synthetic camphor in the global market, thereby propelling the market growth.

Furthermore, improving supply chain management is also providing growth opportunities for pharma-grade synthetic camphor manufacturers, as it influences high growth in emerging regions like in the Asia Pacific. For instance, Merck acquired Sigma-Aldrich in 2016. Similarly, Camphor & Allied Products Ltd., a leading Indian manufacturer of pharma grade camphor, merged their business with Oriental Aromatics Limited in 2015.

Pharma-grade synthetic camphor manufacturers also witness rising demand from topical pain management products, owing to the growth recorded in the aging population coupled with the increasing count of people suffering from chronic disease. This creates a high demand for pain management topical products, thereby boosting the market growth.

Moreover, the widespread end-users’ applications of products like Vicks VapoRub and the beneficial properties of pharmaceutical-grade synthetic camphor, including anti-fungal and anti-inflammatory can also be considered as the revenue-generating factors for the global pharma-grade synthetic camphor market in the projected time frame.

On the contrary, the availability of substitutes and the health risks linked with the high level of camphor are likely to hamper the demand for pharmaceutical grade synthetic camphor across the globe.

Nevertheless, the on-going research and development activities to innovate new application scope for camphor along with the mounting count of the population in emerging economies such as China, India and others is creating opportunities for growth of the global market.

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Pharma-Grade Synthetic Camphor Market Segmentation

The global pharma-grade synthetic camphor market is segmented on the basis of formulation type, application, distribution channel, and by region.

By Formulation Type:

• Topical
• Inhalation

By Application:

• Respiratory Disorder
• Muscular Rheumatism
• Counterirritant and Antipruritic
• Others

By Distribution Channel:

• Conventional B2B
  • Tenders
  • Direct Procurement
  • Wholesalers & Distributors
• Online B2B
  • Internal Channel
  • External Channel

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa

Pharma-Grade Synthetic Camphor Market Key Players

Key players operating in the global pharma-grade synthetic camphor market include Aldon Corporation, Fengchen Group Co., Ltd., Mangalam Organics Limited, Merck KGaA, Nippon Fine Chemical Co., Ltd., Oriental Aromatics Limited, Prinova Group LLC, Rochem International, Inc., Saptagir Camphor Limited, and Spectrum Chemical Mfg. Corp.

Regional Segmentation

On the basis of region, the pharma-grade synthetic camphor market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

R&I Overview on Pharma-Grade Synthetic Camphor Market Report

The non-identical approach of Reports and Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.

A research report on the Pharma-Grade Synthetic Camphor market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.

Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.

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