Market Size – The compound camphor ointment market size has grown strongly in recent years. It will grow from $2.47 billion in 2023 to $2.61 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to growing preference for topical analgesics, expanding geriatric population, increasing demand for natural remedies.
The compound camphor ointment market size is expected to see strong growth in the next few yearsc
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. The growth in the forecast period can be attributed to increasing prevalence of musculoskeletal disorders, growing aging population, increasing healthcare expenditure, rising preference for traditional medicine. Major trends in the forecast period include innovative formulations, advanced medical technologies, partnerships, and investments.
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Scope Of Compound Camphor Ointment MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Compound Camphor Ointment Market Overview
Market Drivers –The increasing prevalence of musculoskeletal disorders is expected to propel the growth of the compound camphor ointment market going forward. Musculoskeletal disorders (MSDs) affect the body’s muscles, bones, joints, ligaments, tendons, and other soft tissues. Musculoskeletal disorders arise from various factors, often stemming from repetitive motion, poor posture, overuse, and improper lifting techniques. Compound camphor ointment is used to treat pain and inflammation in joints and muscles and has analgesic and anti-inflammatory qualities that make it practical for musculoskeletal problems. For instance, in July 2022, according to the World Health Organization, a Switzerland-based health organization, approximately 1.71 billion people have musculoskeletal conditions worldwide. Furthermore, in October 2023, according to an international study by the Institute for Health Metrics and Evaluation (IHME) at the University of Washington, the number of musculoskeletal disorders in the US is projected to increase by 115% from 2020 to 2050, reaching 1.06 billion cases therefore, the increasing prevalence of musculoskeletal disorders is driving the compound camphor ointment market.
Market Trends – Major companies operating in the compound camphor ointment market are focused on innovating topical pain relievers to enhance efficacy, improve patient comfort, and address specific consumer needs. Topical pain relievers are medications applied directly to the skin to alleviate pain. They are commonly used to treat musculoskeletal pain. For instance, in July 2021, Aleve, a US-based pharmaceutical company, launched AleveX, a new collection of topical analgesics. The products contain active ingredients such as menthol and camphor and come in various formats, such as pain-relieving lotion, pain-relieving spray, and pain-relieving massaging stainless steel roll-on, providing temporary relief for minor muscle and joint aches with targeted, fast, powerful, and long-lasting application.
The compound camphor ointment market covered in this report is segmented –
1) By Formulation: Internal Use , Topical Use
2) By Distribution: Retail Pharmacies, Hospital Pharmacies, Online Pharmacies
3) By Application : Pain Relief, Anti-Itching, Fungal Infection, Other Applications
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Regional Insights – North America was the largest region in compound camphor ointment in 2023.North America is expected tobe the fastest-growing region in the forecast period The regions covered in the compound camphor ointment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies – Major companies operating in the compound camphor ointment market are CVS Health, McKesson, Cigna Corp., Johnson & Johnson , China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Cipla Limited, Greenbrier International Inc, Mallinckrodt Plc, Emcure Pharmaceuticals Limited, Vi-jon Laboratories, Oriental Aromatics Ltd., Amrutanjan Health Care limited, Delon Laboratories Inc., Mentholatum Company, Frey & Lau GmbH, Indiana botanic gardens, DLC Laboratories Inc., GHC Group LLC, Focus Consumers Health care LLC, Caribe Natural LLc, Emu Joy, Himalaya Wellness Co., AVN Ayurveda Formulations Pvt. Ltd., Ilesol Pharmaceuticals, Thera Wise
Table of Contents 1. Executive Summary2. Compound Camphor Ointment Market Report Structure3. Compound Camphor Ointment Market Trends And Strategies4. Compound Camphor Ointment Market – Macro Economic Scenario5. Compound Camphor Ointment Market Size And Growth…..27. Compound Camphor Ointment Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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