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The compound camphor ointment market share is expected to increase to USD 3.62 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.17%.
This compound camphor ointment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The compound camphor ointment market report also offers information on several market vendors, including Amrutanjan Health Care Ltd., Caribe Natural LLC, China Resources Pharmaceutical Group Ltd., DLC Laboratories Inc., DWD Pharmaceuticals Ltd., Emu Joy, Focus Consumer Healthcare, Haw Par Corp. Ltd., Indiana Botanic Gardens Inc., ROHTO Pharmaceutical Co. Ltd., Strides Pharma Science Ltd., The J.R. Watkins Co., Trifecta Pharmaceuticals USA LLC, World Perfumes Inc., and The Procter and Gamble Co. among others.Furthermore, this report extensively covers compound camphor ointment market segmentation by formulation (internal use and topical use) and geography (APAC, North America, Europe, Middle East and Africa, and South America).
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Technavio categorizes the global compound camphor ointment market as a part of the pharmaceutical market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the compound camphor ointment market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the compound camphor ointment market encompasses successful business strategies deployed by the key vendors. The compound camphor ointment market is fragmented and the vendors are deploying growth strategies such as partnerships and investment in R and D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The compound camphor ointment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
The growing demand for compound camphor ointment is notably driving the compound camphor ointment market growth, although factors such as government regulations for and health hazards of using camphor may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the compound camphor ointment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Compound Camphor Ointment Market Driver
One of the key factors driving the global compound camphor ointment market growth is the growing demand for compound camphor ointment. The American Academy of Dermatology Association recommends ointments or creams with camphor for relieving psoriasis-related itching. For instance, Blue Star Ointment is a cream that contains 1.2% of camphor oil, which can be used for symptoms such as itching, scaly, dry skin, eczema, rashes, ringworm, jock itch, and athlete's foot. The growing prevalence of arthritis, especially in North America, will significantly contribute to the demand for compound camphor ointment. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2020, 1 in 4 adults in the US had arthritis, and it is estimated that by 2040, 78 million US adults will have arthritis. Also, globally, more than 350 million people had arthritis in 2021. Thus, such factors will boost the demand for compound camphor ointment during the forecast period.
Key Compound Camphor Ointment Market Trend
Growing prominence of online retailing is one of the key compound camphor ointment market trends that is expected to impact the industry positively in the forecast period. Online and e-commerce channels support both business-to-consumer (B2C) and business-to-business (B2B) operations. Some prominent e-commerce players operating in the global compound camphor ointment are Amazon.com and eBay. Essential oil manufacturers, including camphor oil producers, are focusing on Internet-savvy customers and experimenting with online retail formats to attract more customers. This mode of business will help vendors cut down on their operating and overhead costs. In the online retailing format, these costs are much lower than in the physical store format. Such factors will further support the market growth in the coming years.
Key Compound Camphor Ointment Market Challenge
One of the key challenges to the global compound camphor ointment market growth is the government regulations for and health hazards of using camphor. It is mandatory for manufacturers to adhere to the standards implemented by government bodies across the world. For instance, as per the European Chemicals Agency (ECHA), under the EC list no 616-922-7, camphor is termed fatal if swallowed and enters the airway in the human body. It is toxic to aquatic life due to its long-lasting effects, causes serious eye irritation, is flammable both in liquid and vapor form, causes skin irritation, may cause an allergic skin reaction, and may cause respiratory irritation. Moreover, camphor can cause some minor side effects, such as skin redness and irritation. For instance, in July 2021, a pediatrician in Nigeria cautioned parents against using mentholated ointment on their children besides keeping their newborn babies' clothes in camphor. Such health hazards can limit the market growth during the forecast period.
This compound camphor ointment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
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37% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for compound camphor ointment in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The significant increase in the use of camphor oil in pharmaceutical products in countries such as China and India will facilitate the compound camphor ointment market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The compound camphor ointment market in the region was adversely affected by the second wave of COVID-19 at the beginning of 2021. The exponential rise in the number of COVID-19 deaths and active cases in various APAC countries influenced governments to re-impose a lockdown to reduce the spread of the disease. However, with the ramping up of COVID-19 vaccination drives in the region, several countries lifted lockdown restrictions, which has helped restore the supply chains in the market during the forecast period.
Our report provides extensive information on the value chain analysis for the compound camphor ointment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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The compound camphor ointment market share growth by the internal use segment will be significant during the forecast period. The internal use of compound camphor ointment includes its inhalation to relieve coughing. Inhaling the vapors of compound camphor ointment provides temporary relief to cough triggered by irritation in the throat or lungs. Such factors will drive the growth of the segment in focus in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the compound camphor ointment market size and actionable market insights on post COVID-19 impact on each segment.
Camphor Oil market - The market share is expected to increase by USD 8.9 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.61%.
Compound Camphor Ointment Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.17% |
Market growth 2022-2026 |
$ 3.62 billion |
Market structure |
Fragmented |
YoY growth (%) |
10.83 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 37% |
Key consumer countries |
US, Mexico, Canada, China, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Amrutanjan Health Care Ltd., Caribe Natural LLC, China Resources Pharmaceutical Group Ltd., DLC Laboratories Inc., DWD Pharmaceuticals Ltd., Emu Joy, Focus Consumer Healthcare, Haw Par Corp. Ltd., Indiana Botanic Gardens Inc., ROHTO Pharmaceutical Co. Ltd., Strides Pharma Science Ltd., The J.R. Watkins Co., Trifecta Pharmaceuticals USA LLC, World Perfumes Inc., and The Procter and Gamble Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Formulation
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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