The global compound camphor ointment market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The ointment is an analgesic, which acts as a temporary reliever in pain and itching. Therefore, it finds significant application in the treatment of fungal infections of cold sores, warts, toenails, osteoarthritis and hemorrhoids. Apart from the growing application, the rising prevalence of diseases that cause pain and itching, such as chest congestion, toenails, cold sores, warts, hemorrhoids, and osteoarthritis, is further likely to drive the growth of the market.
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Another factor propelling the demand for compound camphor ointment includes the rise in the geriatric population, which is more prone to osteoarthritis. It is even a major cause of disability in older population globally. According to the World Health Organization (WHO), 9.6% of men and 18.0% of women aged 60 years or above have symptomatic osteoarthritis. This trend is expected to continue positively, influencing the demand for compound camphor ointment. Additionally, the demand for over the counter (OTC) form of compound camphor ointment is expected to increase during the forecast period, owing to the easy availability of these ointments in retail pharmacies.
Individuals with intense muscle pain choose products that are available OTC. These products facilitate rapid treatment and reduce the recovery time for damaged parts of muscles and joints. The growing demand for this ointment is driven by the cost efficiency of OTC analgesics drugs and increasing awareness amongst patients. Further, its growing demand for headache, muscle strain, bruising, or arthritis are also driving the growth of the market. However, stringent government regulations may restrict the market growth.
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Market Coverage
- Segment Covered-
o By Application
o By Deployment Model
o By End-User
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: DLC Laboratories, Inc., and Thera Wise, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Compound Camphor Ointment Market Report by Segment
By Formulation
- Internal Use
- Topical Use
By Application
- Pain Relief
- Fungal Infection
- Anti-Itching
- Others
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