Pharmaceutical Glycerine Market Expected to Reach $246.48 Million by 2030

According to a new report published by Allied Market Research, titled, “Pharmaceutical Glycerine Market," The pharmaceutical glycerine market size was valued at $89.89 million in 2020, and is estimated to reach $246.48 million by 2030, growing at a CAGR of 11% from 2021 to 2030. The total volume of global Pharmaceutical Glycerine Market share was estimated to be 132,000 tons in 2020, and is projected to reach 243,641 tons by 2030, registering a CAGR of 6.6% from 2021 to 2030.

As an individual prescription product, glycerin has uses as hyperosmotic, osmotic diuretic, and ophthalmic agent. It may be used as eye drop in treatment of glaucoma to reduce intraocular pressure, as a solution or suppository for short-term treatment of constipation, to evacuate bowel prior to colonoscopy, and in some ocular surgeries. It may be given intravenously to reduce pressure inside the brain and used externally on the skin as a moisturizer. Glycerin has many other uses in agricultural, food, and pharmaceutical industries.

The U.S. Food and Drug Administration (FDA) classify glycerin as “generally recognized as safe” (GRAS). The overall risk of toxicity from glycerin found in pharmaceutical products is low. If one were to come into contact with large, bulk quantities of glycerin, eye irritation may occur. Skin irritation is unlikely unless the skin is damaged where contact occurs. Inhalational toxicity is low due to low volatility, but prolonged, excessive ingestion can cause elevated blood sugar or fat levels in the blood.

The global healthcare landscape has been changing rapidly and people are spending more on health-related needs. With people getting more health conscious and increasing ageing population, demand for pharmaceuticals has been increasing around the globe, which, in turn, has led to high consumption of pharmaceutical ingredients and raw materials. Thus, with this increase in production of pharmaceutical products, demand for raw materials such as glycerin is expected to increase during the forecast period. There has also been a rise in adoption of glycerin in pharmaceutical industry owing to its low cost and various medical benefits such as moisturizer in skin burns & minor skin irritations and in treatment of constipation.

However, adverse effects of pharmaceutical glycerin, such as diarrhea, polyuria, nausea, dry mouth, and others hinder the market growth. Ongoing R&D activities related to pharmaceutical glycerin are anticipated to present new opportunities for the market.

The pharmaceutical glycerine Industry is segmented on the basis of application and region. On the basis of application, the excipient segment currently dominates the market, and is expected to continue during the forecast period, owing to rise in demand for eyewash solutions and as glycerin is a predominant excipient for pharmaceutical products.

On the basis of excipients, the solubilizer & emulsifier segment dominated the Global Pharmaceutical Glycerin market in 2020 and is anticipated to be dominant in the market as they are being used to increase oral bioavailability of Class II and Class IV drugs.

Asia-Pacific dominated the market in 2020, owing to healthy growth of industries such as pharmaceutical and personal care. Low production cost, labor cost, and lenient regulations in these regions are encouraging manufacturers to expand their manufacturing [S1] facilities in these regions, which, in turn, is expected to drive demand for glycerin. Thus, such pharmaceutical glycerine market trends in Asia Pacific region will create lucrative opportunities during the analysis period.