Pharmaceutical Solvent Market expected to grow at a CAGR of 3.5% in terms of value during 2016 to 2026
Verfasser: pradnya_86 on Tuesday, 24 January 2017Global Market for Pharmaceutical Solvents Projected to Witness Sluggish Growth
A majority of medicines & drugs produced in the world are derived from formulating Active Pharmaceutical Ingredients (API), and such processes require alcoholic solvents such as ethanol, isopropanol, propanol and propylene glycol.
Production of pharmaceutical solvents continues to be concentrated in the Asia-Pacific excluding Japan (APEJ) region as leading API suppliers and drug manufacturers in the world have based their production units in countries such as South Korea, China and India, among others.
Nevertheless, the production of pharmaceutical solvents in the world continues to be riddled with challenges emanating from stringent manufacturing regulations imposed by governments. Administration authorities regulating industrial activities in a region are curbing the production of pharmaceutical solvents which contain high volumes of inflammable fluids. An alarming rise in the incidences of casualties reported in pharmaceutical solvent manufacturing plants as well as health risks of being exposed to volatile liquids present in several pharmaceutical solvents will continue to be a major challenge for drugmakers in the coming years.