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Pharmaceuticals Preservative Market Size By Source (Natural Pharmaceuticals Preservative Agents and Synthetic Pharmaceuticals Preservative Agents), By Function (Antioxidants Pharmaceuticals Preservative Agents, Antimicrobial Pharmaceuticals Preservative Agents, and Chelating Pharmaceuticals Preservative Agents), Regions, Segmentation, and Projection till 2030

CAGR: 4.5%Current Market Size: USD 9.5 BillionFastest Growing Region: APAC

Largest Market: EuropeProjection Time: 2023-2030Base Year: 2022

Global Pharmaceuticals Preservative Market- Market Overview:

The Global Pharmaceuticals Preservative market is expected to grow from USD 9.5 billion in 2022 to USD 13.5 billion by 2030, at a CAGR of 4.5% during the Projection period 2023-2030. The growth of this market is mainly driven by a rising pharmaceutical product demand that does not interfere with the therapeutic effects of active ingredients.

A preservative agent's primary use is to extend the shelf life of medicinal products by preventing the development of microorganisms that cause a microbial breakdown. Some medicinal products needed to be preserved because they contained microorganisms. A manufactured or natural molecule called a preservative is used as an additive in the pharmaceutical sector. Pharmaceutical preservatives are applied to products with increased water content to prevent microbial deterioration and change during storage. With these widespread uses, pharmaceutical preservative agents have a few beneficial characteristics, such as being chemically and physically stable, non-toxic, and compatible with other components used in the formulation and manufacturing process of pharmaceutical preservation agents. By suppressing the microbial formation and lowering or decreasing the oxidation level of the active components in medications and treatments, preservatives lengthen their shelf lives. Thus, it is anticipated that rising pharmaceutical product demand would support the market for preservatives that do not interfere with the therapeutic effects of active ingredients. Due to rising consumer awareness of their appearance, the worldwide medicine business has seen tremendous expansion in recent years. In the upcoming years, it is anticipated that demand for natural preservatives would rise due to increased investments in research and development for organic goods.

Sample Request: - Global Pharmaceuticals Preservative Market

Market Dynamics:

Drivers:                          

  • The market for generics is expanding

Experts in the field anticipate that the market for branded medications would suffer considerable income and volume losses as a result of generic erosion. This will make it possible for less expensive generic alternatives to enter the market, increasing the number of medications sold. The predicted period will see a rise in generic drug sales volume due to rising healthcare costs and rising access in emerging markets. This is viewed as a sign that the market for pharmaceutical Pharmaceuticals Preservative is expanding.

Restraints:                                             

  • Drug development is a time- and money-consuming procedure

Failures at the last stages of the drug development process raise R&D expenditures and reduce pharmaceutical firms' profit margins. The need to improve present manufacturing and quality assurance processes is a result of the tightening of rules on the quality and safety of the Pharmaceuticals Preservative and pharmaceuticals, which raises the cost of production as a whole. The market for pharmaceutical preservation compounds is restricted by a variety of detrimental circumstances.

Opportunities:

  • Rise in additives with many functions

Pharmaceuticals Preservative with numerous uses have been developed as a fresh approach to the lengthy and expensive process of bringing a medicine to market, which can take, on average, 10 to 12 years. Multifunctional Pharmaceuticals Preservative increase flowability, compressibility, bioavailability, and particle size distribution throughout the medication production process. They provide a number of benefits, including increased productivity, lower costs, shorter manufacturing times, the creation of novel chemical entities, and the formulation of ODT. Multifunctional Pharmaceuticals Preservative will make optimization studies easier and aid with formulation development problems. To enhance their performance for particular applications, such as Pharmaceuticals Preservative for orally disintegrating tablets, controlled-release formulations, immediate-release applications, and topical products, the majority of market players are now concentrating on introducing new grades of existing Pharmaceuticals Preservative. Thus, resulting in profitable growth opportunities

Challenges:

  • Concerns about quality and safety

Pharmaceutical companies still struggle to achieve the high standards set by regulators, consumers, medication manufacturers, and patients for quality despite the expanding usage of Pharmaceuticals Preservative in these products. The performance of the medicine and key quality characteristics are impacted by variations in excipient manufacture. The excipient-drug interaction is impacted by supplier-to-supplier or batch-to-batch variation in Pharmaceuticals Preservative, which in turn impacts the drug. Pharmaceutical excipient production is outsourced in great part to smaller businesses in low-cost nations. Due to the limited level of control over the excipient production process and quality, the whole supply chain needs more process transparency. Drug producers and excipient manufacturers, however, have a problem in achieving quick simplification and maximum transparency in supply chain operations. 

Segmentation Analysis:

The global Pharmaceuticals Preservative market has been segmented based on Source, Function, and region.

By Source

The Source segment includes Natural Pharmaceuticals Preservative Agents and Synthetic Pharmaceuticals Preservative Agents. The  Synthetic Pharmaceuticals Preservative Agents segment led the largest share of the Pharmaceuticals Preservative market with a market share of around 16.2% in 2022. The main element influencing the segment's growth is how well synthetic preservatives work at preventing the growth of mold and yeast in combination with their affordability. As propionates replace various hazardous synthetic preservatives, their use is anticipated to rise substantially. Calcium and sodium propionate is in high demand for usage in pharmaceutical applications, hence producers like Niacet Corp. and BASF SE are concentrating on increasing output. Due to the expanding usage of natural products in several applications, there will be growth in demand for conventional natural pharmaceutical preservatives on a global scale.

By Function       

The Function segment includes Antioxidants Pharmaceuticals Preservative Agents, Antimicrobial Pharmaceuticals Preservative Agents, and Chelating Pharmaceuticals Preservative Agents. Antimicrobial Pharmaceuticals Preservative Agents segment led the largest share of the Pharmaceuticals Preservative market with a market share of around 28% in 2022. Herbal herbs and liquid medicines have antimicrobial qualities that are effective against infections and bacteria. Natural antimicrobial compounds are gaining popularity for extending the shelf life of items due to customer concerns about artificial preservatives, which is driving the market. Over the projection period, there will be a rise in the demand for antioxidant preservatives. This heightened concern about medicinal safety has contributed to the high market share of antimicrobial preservatives.

Global Pharmaceuticals Preservative Market- Sales Analysis.

The sale of Pharmaceuticals preservatives expanded at a CAGR of 2.9% from 2016 to 2021.

Due to a number of factors, including the pharmaceutical industry's expected positive growth in the near future due to healthy lifestyles and consumer awareness of the need to spend more on health, the market for pharmaceutical preservative agents is predicted to grow significantly, offering the significant additional financial opportunity to key manufacturers. All of these elements are increasing the need for pharmaceutical preservatives throughout the world, which in turn drives excessive preservative use in the pharmaceutical sector.

The worldwide pharmaceutical preservative agents market is expected to face considerable technological and financial constraints as a result of various government regulations and recommendations. Pharmaceutical preservative agent firms have the chance to buy minor preservative agent producers in order to increase sales and save transportation costs.

Thus, owing to the aforementioned factors, the global Pharmaceuticals Preservative market is expected to grow at a CAGR of 4.5% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the Pharmaceuticals Preservative market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Europe region dominated the Pharmaceuticals Preservative market and held a 37% share of the market revenue in 2022.

  • The Europe region witnessed a major share. The main producer of medical products in Europe has influenced the use of pharmaceutical preservatives over time. Due to the region's healthy lifestyle and consumers' knowledge of the need to spend more on their health, the European market is predicted to continue growing steadily. Over half of the regional demand was met by France, Germany, Italy, and the United Kingdom, and it is projected that this situation would be true during the projection period.
  • Asia Pacific is anticipated to experience significant growth during the predicted period. One of the largest markets for pharmaceutical preservatives is in Asia, where major pharmaceutical makers include China, Japan, and South Korea. The need for pharmaceutical preservatives in the area is driven by South Korea's significant expansion in the pharmaceuticals sector and Japan's rising demand for pharmaceutical products.

Global Pharmaceuticals Preservative Market- Country Analysis:

  • Germany

Germany's Pharmaceuticals Preservative market size was valued at USD 0.15 billion in 2022 and is expected to reach USD 0.23 billion by 2030, at a CAGR of 5.5% from 2023 to 2030.

It is projected that the market for pharmaceutical preservatives would grow as a result of an increase in patent applications that are concentrated on the development of novel drug delivery methods, new medications, and formulations. Additionally, it is projected that the market for pharmaceutical preservatives would develop due to the Federal Republic of Germany's expanding export of pharmaceuticals to several countries.

  • China

China’s Pharmaceuticals Preservative market size was valued at USD 0.18 billion in 2022 and is expected to reach USD 0.30 billion by 2030, at a CAGR of 4.6% from 2023 to 2030.

China has been able to start the shift from being a base for the production of pharmaceutical preservatives to a critical R&D center thanks to the enormous expansion of its healthcare sector. As a result, China has cemented its position as a key participant in the worldwide market for pharmaceutical preservatives, both as a consumer nation and as a base for expanding R&D. Government incentives and public insurance are used to encourage the local pharmaceutical industry's expansion, but IP restrictions and onerous regulations stand in the way.

  • India

India's Pharmaceuticals Preservative market size was valued at USD 0.13 billion in 2022 and is expected to reach USD 0.18 billion by 2030, at a CAGR of 4.7% from 2023 to 2030.

The rise of Pharmaceuticals Preservative has been aided by India's rising per capita disposable income. Numerous finance sources in India are investing more in long-term, high-risk initiatives, providing profitable development prospects for business investors. Additionally, rising income levels and advancing medical facilities are increasing pharmaceutical preservative sales which have been driven by an increase in Function product manufacturing capacity, which is the main driver of the market.

Key Industry Players Analysis:  

To increase their market position in the global Pharmaceuticals Preservative business, top companies focus on tactics such as adopting new Applications, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

  • DuPont
  • BASF SE
  • P&G Chemicals
  • Mitsubishi Chemical Corporation
  • Eastman Chemical Company
  • Sharon Laboratories
  • Yip's Chemical Holdings Ltd.
  • Archer Daniel Midland Company

Latest Development:

  • In December 2022, Sun and Viatris' competition, Thea Pharma's preservative-free glaucoma eye drops, receives FDA approval. The FDA has approved Thea Pharma's efforts to remove preservatives from latanoprost formulations for the treatment of open-angle glaucoma and ocular hypertension, allowing the business to introduce a unique alternative to the market's current eye drops.

Report Metrics

Report Attribute 

Details

Study Period

2022-2030

Base year

2022

CAGR (%)

4.5%

Market Size

9.5 billion in 2022

Projection period

2023-2030

Projection unit

Value (USD)

Segments covered

By Source, By Function, and By Region.

Report Scope

Revenue Projection, competitive landscape, company ranking, growth factors, and trends

Companies covered

DuPont, BASF SE, P&G Chemicals, Mitsubishi Chemical Corporation, Eastman Chemical Company, Sharon Laboratories, Yip's Chemical Holdings Ltd., and Archer Daniel Midland Company.

By Source

  • Natural Pharmaceuticals Preservative Agents
  • Synthetic Pharmaceuticals Preservative Agents       

By Function

  • Antioxidants Pharmaceuticals Preservative Agents
  • Antimicrobial Pharmaceuticals Preservative Agents
  • Chelating Pharmaceuticals Preservative Agents              

Regional scope

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Scope of the Report

Global Pharmaceuticals Preservative Market by Source:

  • Natural Pharmaceuticals Preservative Agents
  • Synthetic Pharmaceuticals Preservative Agents

Global Pharmaceuticals Preservative Market by Function:

  • Antioxidants Pharmaceuticals Preservative Agents
  • Antimicrobial Pharmaceuticals Preservative Agents
  • Chelating Pharmaceuticals Preservative Agents

Global Pharmaceuticals Preservative Market by Region:

  • North America
    • USA
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Russia
  • Asia-Pacific
    • Japan
    • China
    • India
    • Korea
    • Southeast Asia
  • South America
    • Brazil
    • Peru
  • Middle East and Africa
    • UAE
    • South Africa
    • Saudi Arabia

Frequently Asked Questions

What will be the expected market size of the Pharmaceuticals Preservative market in 2030?

Global Pharmaceuticals Preservative market is expected to reach USD 13.5 billion by 2030, at a CAGR of 4.5% from 2023 to 2030.

Which are the leading market players active in the Pharmaceuticals Preservative market?

DuPont, BASF SE, P&G Chemicals, Mitsubishi Chemical Corporation, Eastman Chemical Company, Sharon Laboratories, Yip's Chemical Holdings Ltd, Archer Daniel Midland Company among others.

What is the driving factors of the Pharmaceuticals Preservative market?

The growth of this market is mainly driven by a rising pharmaceutical product demand that does not interfere with the therapeutic effects of active ingredients.

Which region will witness more growth in the Pharmaceuticals Preservative market?

Europe region will witness more growth in the Pharmaceuticals Preservative market.