Global Pharma Grade Synthetic Camphor Market is projected to register the growth of 4.2% CAGR from 2022 to 2028, with an estimated market value of around USD 532.0 Million in 2028.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Pharma Grade Synthetic Camphor Market Value- Base Year 2021 | USD 398.3 Million |
| Pharma Grade Synthetic Camphor Market Value - Estimate Year 2022 | USD 415.4 Million |
| Pharma Grade Synthetic Camphor Market Value- Projected Year 2028 | USD 532.0 Million |
| CAGR 2022 to 2028 | 4.2% |
| Share of top 5 Countries | 58.3% |
| Key Players | 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.; and Others (100% Market Share) |
As per Future Market Insights’ projections, the topical product holds a substantial share of over 71.5% in 2021 in the overall pharma grade synthetic camphor market.
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.
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| Particulars | Details |
|---|---|
| H1, 2021 | 4.14% |
| H1, 2022 Projected | 4.21% |
| H1, 2022 Outlook | 4.11% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 10 ↓ |
| BPS Change - H1, 2022 (O) - H1, 2021 | (-) 3 ↓ |
The pharma grade synthetic camphor market is under influence of healthcare expenditure and innovation factors subject to macro and industry factors. Key developments in the market include expansion of manufacturing facilities and exporting products across the globe.
According to FMI analysis, the pharma grade synthetic camphor market will decline by 03 Basis Share Point (BPS) in H1-2022 against H1-2021. A comparison of H1-2022 Outlook and H1-2022 projected growth showed a declining growth with 10 BPS.
Variations in the price of raw materials used in the production of synthetic camphor, which caused many small-scale manufacturers to exit the market, have acted as a restraint on the market's expansion, leading towards a reduction in the BPS value for the pharma grade synthetic camphor market.
Additionally, some hindrances that stay ahead for the industry also include stringent regulatory restrictions for the usage of camphor in pharma grade products. Conversely, other market segments are expected to perform fairly and attain attractive growth prospects in the next half of projection period.
The global pharma grade synthetic camphor market had witnessed a turnaround growth from 2016 onwards, the trend is been expected to continue over the forecast period, which will drive the demand for pharma-grade synthetic camphor. In addition, the incidence rate of several infectious disease is increasing globally.
Indications such as respiratory diseases and sexually transmitted diseases are increasing at an alarming rate in countries across the globe.
Highly populated regions such as APAC, MEA and Latin America have high incidence and prevalence of infectious diseases, which in turn is increasing the demand for camphor containing treatment products for infectious disease.
Also, surge in use of private labelled topical products containing camphor, which is been driven by positive consumer sentiment and growing demand for topical pain management products are the other factors which are driving the growth of the pharma-grade synthetic camphor market.
The global pharma grade synthetic camphor market constitutes nearly 4.4% of the USD 9 Billion pharmaceutical excipients market globally in 2021. Private-labelled industry witnessing immense growth in the USA market, is been driven by positive consumer sentiment towards such products.
Hence, the demand outlook for pharma grade synthetic camphor market stands expected to grow rapidly during the forecast period from 2022 to 2028. The pharma grade synthetic camphor market is expected to expand at a considerable growth rate of around CAGR 4.2%, and observe an incremental $ opportunity of USD 116.6 Million from 2022 to 2028.
Principal Consultant
With increasing diseases burden of influenza, the existing cases occurrence owing to the pandemic and market penetration of the players to increase the product accessibility are the factors that are contributing to the growth of the pharma grade synthetic camphor market.
For meeting the increasing demand, the key players are developing new products and expansions both, geographically and by enhancing their product portfolio.
Thus, it offers a great opportunity to the manufacturers of the pharma grade synthetic camphor during the forecast years.
The Raw material cost makes up approximately 34–40% of the camphor cost and thus access to high quality raw material at stable prices form a very important aspect of business success
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. Fluctuation in the exchange rates is expected to adversely affect the business and hamper the growth of the pharma grade synthetic camphor market. Additionally, regulatory restrictions for use of camphor in pharmaceutical products due to its restricted usage in analgesics will also impede the growth of the market in other product segments.
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The USA is the leading country of the North American region with a total market share of 93.6% in 2021 and projected to continue commanding the high growth during the coming years from 2022 to 2028 in pharma grade synthetic camphor market owing to its due to high value and high margins in the market.
The growing practice of self-medication with OTC products, increased awareness among the masses for alternative medicine for general flu (symptomatic influenza) and related diseases is set to drive the market during the forecast period.
For instance, as per Centre for Disease Control, the annual incidence of flu cases in the USA was 35 million, leading to 380,000 hospital admissions during 2019 to 2020 year.
In the year 2021, Germany dominates the European market of pharma grade synthetic camphor, with a share of over 23.6% throughout the forecast period owing to the increasing demand of pharma-grade synthetic camphor.
According to the World Health Organization (WHO), In Germany, yearly influenza epidemics lead to serious disease and death in high-risk populations. A 30-40% rate of all influenza cases reported yearly is accounted to occur in the children.
The presence of efficient healthcare infrastructure and the key players in the country are supporting the growth of pharma grade synthetic camphor market growth.
India holds over 55% revenue share in the global market in the year 2021, and projected to expand at a CAGR of 5.4% during the forecast period of 2022 to 2028. It is been reported that, during 2018 to 2019, Influenza infection in India was estimated as 132 per 1000 child-years.
The patient’s positive for influenza in outpatients and inpatients were estimated to be 11.2% and 7.1% (respectively. A total influenza cases during 2018 as 16,009,207 in India. Influenza accounted for 10,913,476 outpatient visits and 1, 09,431 hospitalizations. The high incidence of the disease and deeper penetration of the key players and market accessibility of the products is aiding the growth of pharma grade synthetic camphor market.
In 2021, China has considerable share in the global pharma grade synthetic camphor market of around 13.1% share by value and is projected to expand at a CAGR of 6.1% from 2022 to 2028. This is predominantly due to the rising number of influenza cases, for instance, as per the recent estimates, influenza-associated mortality rate was found the highest among adults aged ≥ 65 years, the highest influenza disease burden found among people aged ≥ 65 years and < 5 years in China, while the vaccination coverage in the Chinese population was only approximately 2%.
Furthermore, the miniscule penetration of vaccination among the target population poses the risk of infection transmissibility; hence in turn supporting the demand for pharma grade synthetic camphor in the market.
By Formulation type, the topical segment accounts for more than 70% market and is expected to expand at a CAGR of 4.4% during the forecast period from 2022 to 2028.
The topical Product benefits brings direct application on the skin, hence promoting greater absorption, relief from the nasal irritation, reduced side effects and toxicity to other organs and imparting soothing effect. Owing to its natural benefits, it will continue to be the most preferred product among the patients and resulting in growth of pharma grade synthetic camphor market during the forecast period of 2022 to 2028.
The applications of pharma grade synthetic camphor in treating respiratory disorders is highly preferred and records the share of around 28.6% of the global revenue share in 2021. This trend is expected to continue to grow during the study period. The high share of this segment is attributable to the influenza cases, which affects the respiratory channels of the patients, hence promoting the usage of the synthetic camphor enabled products to be administered in the respiratory cases
Based on the distribution channel, conventional B2B is the leading segment, with nearly 86.5% market share in 2021 due to its improved efficiency, improved awareness, enhanced analytics, and customer-centric experience. Additionally the patients choose OTC product purchases to be conducted at the pharmacies, hence, the significance of the mode of sale channel will maintain its relevancy in the forecast period of 2022 to 2028 and support the growth of pharma grade synthetic camphor market growth.
The growing share of over the counter purchase and increasing availability of the products at multiple sales channels are the key strategies adopted by manufacturers and integrators for increasing the consumer base in different geographies.
Additionally, Key players are focusing on expansion of their brands and technology in emerging regions by strategic partnerships, and collaborations to strengthen their market presence.
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| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2028 |
| Historical Data Available for | 201 to 2021 |
| Market Analysis | USD Million for Value, Units for Volume |
| Key Countries Covered | USA, China, India, Japan, Brazil, Germany, France, UK, Mexico, South Africa, Italy, Canada, Argentina, Australia & NZ, Spain South Korea, India, ASEAN, Australia, New Zealand, South Africa, and GCC Countries |
| Key Segments Covered | Formulation type, applications, distribution channel and Region |
| Key Companies Profiled | 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 |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global market may account for USD 532 million by 2028.
The United States may command a leading share in the market through 2033.
Germany may account for 23.6% of the market share.
India and China are pulling up the growth of the global market.
Respiratory disorders segment is likely to hold a notable market share untill 2033.
1. Executive Summary 2. Market Introduction 3. Market Background 4. Key Inclusion 5. North America Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028 6. Latin America Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028 7. Western Europe Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028 8. Eastern Europe Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028 9. Asia Pacific excluding China & Japan (APECJ) Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028 10. Japan Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028 11. China Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028 12. MEA Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028 13. Forecast Factors: Relevance and Impact 14. Competition Analysis 14.1. Merck KGaA 14.2. Oriental Aromatics Limited 14.3. Saptagir Camphor Limited 14.4. Mangalam Organics Limited 14.5. Fengchen Group Co., Ltd. 14.6. Nippon Fine Chemical Co., Ltd. 14.7. Rochem International, Inc. 14.8. Spectrum Chemical Mfg. Corp. 14.9. Aldon Corporation 14.10. Prinova Group LLC. 15. Global Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Region 15.1. North America 15.2. Western Europe 15.3. Eastern Europe 15.4. Latin America 15.5. Asia Pacific excluding Japan and China 15.6. Japan 15.7. China 15.8. Middle East and Africa 16. Global Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Formulation Type 16.1. Topical 16.2. Inhalation 17. Global Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Application 17.1. Respiratory Disorder 17.2. Muscular Rheumatism 17.3. Counterirritant and Antipruritic 17.4. Others 18. Global Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Distribution Channel 18.1. Conventional B2B 18.1.1. Tenders 18.1.2. Direct Procurement 18.1.3. Wholesalers & Distributors 18.2. Online B2B 18.2.1. Internal Channel 18.2.2. External Channel 19. Global Pharma to Grade Synthetic Camphor Market Analysis 2013 to 2021 and Forecast 2022 to 2028 20. Assumptions and Acronyms Used 21. Research Methodology
Healthcare
June 2023
REP-GB-13025
273 pages
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Pharma Grade Synthetic Camphor Market
