Pharmaceutical Glycerin Based Products Market Size to Hit USD 0.550 Billion by 2032 at 12.10% CAGR – Report by Market Research Future (MRFR)
Research Reports
Sep 28, 2023
Pharmaceutical Glycerin Based Products Market Trends And Insights by Drug Type (Dermatological, Opthalmic, Cough Remidies, Glycerine Rectal and Angina) And By Region (North America, Europe, Asia-Pacific, And Rest of the World) – Competitive Market Growth, Size, Share and Forecast to 2032
Pharmaceutical Glycerin Based Products Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Pharmaceutical Glycerin Based Products Market Information By Drug Type and Region – Forecast till 2032″, the market 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).
Market Synopsis
Pharmaceutical glycerin, or glycerol and glycerin, is an organic molecule primarily employed as an excipient in the pharmaceutical sector. Glycerin demonstrates several advantages in pharmaceutical and medical preparations, including enhancing lubrication, humectant, and smoothness. A white, syrup-like liquid known as glycerol is used clinically as a laxative, as an oral enema, and in suppositories. Glycerol can be used as a sweetener, humectant, solvent, or feedstock for microbial cultures in the culinary, chemical, pharmaceutical, and biotechnology sectors. It mostly produces expectorants, cough syrups, elixirs, and suppositories. A white, syrup-like liquid known as glycerol is used clinically as a laxative, as an oral enema, and in suppositories.
Glycerol can be used as a sweetener, humectant, solvent, or feedstock for microbial cultures in the culinary, chemical, pharmaceutical, and biotechnology sectors. Due to its antibacterial and antiviral capabilities, the pharmaceutical glycerin industry is expanding rapidly. It is frequently used in pharmaceutical formulations to cure skin damage, lubricate, and improve smoothness. Additionally, it is used in glycerin soaps, water-based personal lubricants, cough syrups, elixirs, expectorants, and allergy immunotherapies. Nitro-glycerin is one of the most popular medications for treating chronic angina, chest discomfort, and heart disease. In the medical field, glycerin is a moisturizer used to treat or prevent dry, rough, itchy skin and minor irritations.
Glycerin demand in the pharmaceutical business is rising. A significant element propelling the market for glycerin-containing goods to new heights is the rising use of glycerin in the pharmaceutical and ophthalmology sectors to treat ailments like glaucoma that cause elevated eye pressure. A common sign of glaucoma, a category of eye disease that causes progressive optic nerve damage, is elevated intraocular pressure. Glycerin has been increasingly popular as an osmotic agent controlling IOP for various reasons.
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Key Players
Top key players in the market of pharmaceutical glycerin based products are Johnson And Johnson, Bausch Health Companies Inc., Abbott Laboratories, Capsugel, Dupoint, Abbvie Inc., Croda International Plc., Emery Oleochemicals, Takeda Pharmaceutical Company, The Dow Chemical Company and Takeda Pharmaceutical Company Ltd.
Pharmaceutical Glycerin Based Products Market Market Trends:
Market Drivers:
Pharmaceutical companies in North America make glycerin-based topical medicines for conditions like eczema and psoriasis. Different treatments aim to reduce the itching, redness, and inflammation caused by various skin disorders. The demand for effective and safe treatments for chronic skin problems fuels this market segment’s growth. Additionally, the pharmaceutical glycerin-based products market in the United States had the biggest market share in North America, while the market in Canada had the fastest growth rate. Using glycerin during eye surgery and treating disorders that cause elevated eye pressure, such as glaucoma, drives the growth of the global pharmaceutical glycerin-based product market.
Additionally, it is projected that glycerin will increasingly replace alcohol in hand sanitizers, driving the market. The main factors driving the market’s growth include the increased usage of glycerin in pharmaceutical products due to its low cost and several medical benefits, including its use as a moisturizer in treating constipation and its use in managing minor skin irritations and burns. Glycerin demand in the pharmaceutical business is rising. To improve physical texture, promote the growth of keratinocytes, treat wounds, and lessen the intensity of melanin, glycerin is used as an emollient and humectant in various products, including skincare, hair treatment, oral care, and cosmetics. The aging population, rising self-consciousness, and the expanding skincare, beauty, and personal care industries are some other drivers that are projected to support market expansion. Additionally, it has osmotic diuretic effects that promote the management of cerebral edema and lower intraocular and cerebrospinal pressure.
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Restraints
The market’s expansion is hampered by pharmaceutical glycerin’s side effects, which include diarrhea, dry mouth, polyuria, nausea, and others. Current pharmaceutical glycerin R&D initiatives are expected to open new market opportunities for glycerin-based medicinal products.
Market Segmentation
By drug type, the market includes dermatological, ophthalmic, cough remedies, glycerine rectal, and angina.
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Regional Insights
The highest market share for pharmaceuticals made with glycerin came from Asia-Pacific. The expansion can be due to the fast-rising consumption of goods based on pharmaceutical glycerin in nations like China, India, and South Korea. In many Asian cultures, natural and herbal remedies are valued. Glycerin is suitable for formulations that adhere to customs and preferences because it can be generated from plant sources. The Indian market for pharmaceutical glycerin-based goods grew at the highest rate in the Asia-Pacific region, while China’s market for such products had the largest market share.
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