COVID-19 impact on Pharmaceutical Solvents Market : how will the business grow in future


Posted July 14, 2020 by Dristi

High growth in the global pharmaceutical industry, driven by innovation in drug manufacturing process, is expected to create significant demand growth opportunity for pharmaceutical solvents over the forecast period of 2016-2024.

 
Pharmaceutical Solvents Market: Dynamics

The pharmaceutical solvents market, in general, rely on demands from pharmaceutical industry and the quantity of drugs to be produced. Research and development activities and government drug regulatory authorities also affect the overall demand of particular solvents in a particular region. It is observed that organic solvents are gaining traction globally due to non-toxic nature as compared to their inorganic counterpart.

Adoption of new methods and manufacturing technologies in pharmaceutical industries is considered as one of the main driving factors of global pharmaceutical solvents market. Also, on political scale, increasing budgets and expenditure for medical and health sectors by various governments is also expected to contribute high demand for solvents in across various pharmaceutical manufacturing firms globally.

Whereas, environmental concerns related to toxicity and volatility of some hazardous solvents put the global pharmaceutical solvents market under scrutiny. Some solvents are found hard to condense or precipitate, moreover, they might also form flammable environment in the laboratory or blending area. Various governments or drugs directorates have either banned or limited the use of such solvents which are found either toxic or carcinogenic. For example, carbon tetrachloride is advised to be banned as it is toxic and hazardous for the environment. Whereas, solvents such as chloroform and cumene are advised for their limited use, i.e. 60 and 70 concentrations (ppm) respectively.

Developments such as research activities to manufacture new solvents which are easy to prepare and have very rare negative effects on drug conditioning and workers’ health are expected to create significant growth opportunity over the coming years.

Pharmaceutical Solvents Market: Segmentation

Global pharmaceutical solvents market is segmented on the basis of chemical group to which they belong and region. On the basis of chemical group, the market is segmented into esters, ethers, amines, alcohols, aromatic hydrocarbons, chlorinated solvents, ketones and others. Each of the mentioned category contains several solvents widely used in pharmaceutical manufacturing industries.

Pharmaceutical Solvents Market: Region-wise Outlook

Depending on geographic regions, the global pharmaceutical solvents market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, and Middle East & Africa. Due to developed pharmaceutical industries in the region, North America and Western Europe are expected to hold significant market shares by 2016 end, while APEJ is expected to emerge as one of fastest growing region in the global pharmaceutical solvents market
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Issued By ms. breganza
Country Afghanistan
Categories Biotech , Industry
Tags Pharmaceutical Solvents Market , global pharmaceutical solvents , global pharmacy market
Last Updated July 14, 2020