Europe Pharmaceutical Solvent Market, By Product (Alcohols, Aromatic Hydrocarbons, Ketones, Ethers, Amine, Esters, Chlorinated Solvents, and Others), Application (Pharmaceutical, Research Laboratories, Chemical, and Others), Country (Germany, France, U.K., Italy, Spain, the Netherlands, Switzerland, Russia, Turkey, Belgium, Rest of Europe) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Europe Pharmaceutical Solvent Market
Europe pharmaceutical solvent market is expected to gain significant growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.5% in the forecast period of 2021 to 2028 and is expected to reach USD 1,689,861.89 thousand by 2028. The rise in demand for medical drugs is expected to boost the market growth.
Pharmaceutical solvents refer to chemical compounds, which are majorly utilized in the manufacturing of drugs in the pharmaceutical industry. These solvents are used in dissolving other products and components finding its usage as a manufacturing block by providing the molecules required in the production of drugs and pharmaceuticals. These solvents are also utilized in the extraction and purification process. Most of the pharmaceutical solvents cannot be removed completely from the final drugs. It is, however, desired that a pharmaceutical solvent should not change properties of either of the chemicals involved in the reaction.
These alcoholic solvents are utilized in numerous major pharmaceutical drugs such as glycol, isopropanol, and ethanol and growth of pharmaceutical and healthcare sector are the major factors driving the market growth. Furthermore, high production costs and complex manufacturing process act as a restraint for the growth of the market. On the other hand, growing research and development activities and development of new drug manufacturing methods and technologies act as an opportunity for the market. However, rise in concerns regarding the toxicity of solvents might further create challenges for the market growth.
The Europe pharmaceutical solvent market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Europe pharmaceutical solvent market scenario, contact Data Bridge Market Research for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
Europe Pharmaceutical Solvent Market Scope and Market Size
The Europe pharmaceutical solvent market is segmented based on product and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the Europe pharmaceutical solvent market is segmented alcohol, aromatic hydrocarbons, ketones, ethers, amine, esters, chlorinated solvents and others. In 2021, the alcohol segment is expected to dominate the Europe pharmaceutical solvent market due to growing usage of alcoholic solvents in OTC drugs and syrups, antifreeze, soaps, dyes, and many cleaning agents in the Europe region.
- On the basis of application, the Europe pharmaceutical solvent market is segmented into pharmaceutical, research laboratories, chemical and others. In 2021, the pharmaceutical segment is expected to dominate the market due to rising usage in formulations to reduce drugs' unpleasant/ bitter taste in the region.
Europe Pharmaceutical solvent market Country Level Analysis
The Europe pharmaceutical solvent market is analyzed, and market size information is provided by the country, product, and application referenced above.
The countries covered in the Europe pharmaceutical solvent market report are Germany, France, Spain, Italy, Netherlands, Turkey, the U.K., Belgium, Portugal, Luxembourg, Russia, Switzerland, the Rest of Europe. Germany dominates the Europe pharmaceutical solvent market due to the high demand for solvent in the country in pharma sector to research on new medicine.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of European brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Rise in Urbanization and Disposable Income is Boosting the Growth of Europe Pharmaceutical Solvent Market
The Europe pharmaceutical solvent market also provides you with a detailed market analysis for every country's growth in a particular market. Additionally, it provides detailed information regarding the market players’ strategy and their geographical presence. The data is available for the historical period 2010 to 2019.
Competitive Landscape and Europe Pharmaceutical Solvent Market Share Analysis
The Europe pharmaceutical solvent market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the companies’ focus related to the Europe pharmaceutical solvent market.
Some of the major companies dealing in the Europe pharmaceutical solvent market are BASF SE, Royal Dutch Shell Plc, Merck KGaA, Brenntag SE, DuPont, Clariant AG, Dow, LyondellBasell Industries Holdings B.V., and Exxon Mobil Corporation among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts and agreements are also initiated by the companies worldwide, which further accelerate the Europe pharmaceutical solvent market growth.
For instances,
- In July 2021, DuPont completed the acquisition of Laird Performance Materials, a world leader in high-performance electromagnetic shielding and thermal management solutions.
This will help the company to expand its customer base and global scale to increase speed to the market.
- In October 2021, Brenntag SE had an agreement with biobased solvents experts NXTLEVVEL Biochem. This agreement has helped the company to expand its distribution in household and commercial sectors.
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