Compound Camphor Ointment Global Market Report 2024

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 during the historic period can be attributed to the growing preference for topical analgesics, the expanding geriatric population, and the increasing demand for natural remedies.

The compound camphor ointment market size is expected to see strong growth in the next few years. It will grow to $3.28 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to the increasing prevalence of musculoskeletal disorders, the growing aging population, the rise in healthcare expenditure, and the increasing preference for traditional medicine. Major trends expected during the forecast period include innovative formulations, advancements in medical technologies, partnerships, and increased investments.

The increasing prevalence of musculoskeletal disorders is set to drive the growth of the compound camphor ointment market. Musculoskeletal disorders (MSDs) affect muscles, bones, joints, ligaments, tendons, and soft tissues in the body, often resulting from factors such as repetitive motion, poor posture, overuse, and incorrect lifting techniques. Compound camphor ointment, known for its analgesic and anti-inflammatory properties, is commonly used to alleviate pain and inflammation in joints and muscles, making it particularly beneficial for musculoskeletal issues. For example, as per the World Health Organization's report in July 2022, approximately 1.71 billion people worldwide suffer from musculoskeletal conditions. Additionally, an international study by the Institute for Health Metrics and Evaluation (IHME) at the University of Washington projected a 115% increase in musculoskeletal disorders in the US from 2020 to 2050, reaching 1.06 billion cases. Hence, the growing prevalence of musculoskeletal disorders is propelling the compound camphor ointment market.

Key players in the compound camphor ointment market are concentrating on innovating topical pain relievers to enhance effectiveness, improve patient comfort, and cater to specific consumer needs. Topical pain relievers are medications applied directly to the skin for pain relief, commonly used to treat musculoskeletal pain. For instance, in July 2021, Aleve, a pharmaceutical company based in the US, introduced AleveX, a new range of topical analgesics containing active ingredients such as menthol and camphor. These products come in various forms 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.

In October 2023, Kobayashi Pharmaceutical Co. Ltd., a Japan-based pharmaceutical company, acquired Focus Consumer Healthcare LLC for an undisclosed sum. This acquisition highlights TrueNorth's ability to assist clients in executing strategic transactions that drive growth and add value in the healthcare and consumer products sectors. Focus Consumer Healthcare LLC, based in the US, specializes in manufacturing compound camphor ointments.

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.

North America was the largest region in compound camphor ointment in 2023. North America is expected to be 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.

The countries covered in the compound camphor ointment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Compound camphor ointment is a topical medication typically containing camphor as its active ingredient, alongside other components such as menthol and various carrier agents. Camphor, derived from the wood of the camphor tree or synthesized from turpentine oil, offers analgesic (pain-relieving), antipruritic (anti-itch), and counterirritant properties.

The main types of compound camphor ointments are for internal and topical use. Internal use involves applying or ingesting the ointment within the body. These ointments are available through retail pharmacies, hospital pharmacies, and online pharmacies for various purposes, including pain relief, anti-itching, treatment of fungal infections, and others.

The compound camphor ointments market research report is one of a series of new reports that provides compound camphor ointments market statistics, including compound camphor ointments industry global market size, regional shares, competitors with a compound camphor ointments market share, detailed compound camphor ointments market segments, market trends, and opportunities, and any further data you may need to thrive in the compound camphor ointments industry. This compound camphor ointments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The compound camphor ointment market consists of sales of cold sore remedies, wart removal ointments, and hemorrhoid relief ointments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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