Nitroglycerin API Market Size, Share, Growth, and Industry Growth, By Type (10% NG, 5% NG, ≥ 15% NG), By Application (Intravenous, Sublingual Spray, Nitroglycerin Patch, Sublingual Tablets, Capsules, Release Tablet, and Ointment), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

NITROGLYCERIN API MARKET REPORT OVERVIEW

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The global nitroglycerine API market size was USD 21 million in 2021 and the market is projected to touch USD 37 million by 2031, with a growing compound annual growth rate (CAGR) of 5.8% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with nitroglycerine API experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Nitroglycerin is oily and colorless and has a high density. It is often made by appropriately reacting nitrating glycerin with nitric acid. There are two main uses for it: one is as an explosive, and the other is as a medication. The rising demand for API raw materials is also a result of the expanding API business. One of the key ingredients of vasodilator medications, nitroglycerin belongs to the class of medications known as nitrates. These drugs help to regulate appropriate blood flow to the heart by relaxing the blood arteries.

The increasing drug research and development efforts for drug manufacturing, the growing significance of generics, and the rising adoption of biopharmaceuticals are the main drivers of the active nitroglycerine API market growth. The market's expansion is anticipated to be hampered by unfavorable medicine price control policies in many countries and high manufacturing costs.

COVID-19 Impact: Progressive Impact of Pandemic on Market Growth

The COVID-19 epidemic had a positive nitroglycerine API market impact in 2020 because the key players and countries are producing large quantities of ingredients to meet the ongoing demand for COVID-19 treatment. Drug producers have changed their business strategies to concentrate on a bigger patient base as a result of the COVID-19 epidemic. For instance, the U.S. asked India to import hydroxychloroquine (HCQ) to treat coronavirus. The virus has also hampered Canada's pharmaceutical supply chain, which might harm patients there. To reach new markets, Canadian pharma giants are expanding their partnerships with nations other than China.

LATEST TRENDS

"Rising Number of Cardiovascular Diseases to Foster Market Growth"

A type of chest pain called angina is brought on by blockages in the blood arteries that carry blood to the heart. Nitroglycerin can be used to treat angina. Nitroglycerin, however, causes a number of undesirable side effects, including nausea, headaches, and flushing. The market for nitroglycerin in the medical industry is being driven by an increase in angina instances as a result of worldwide population changes in food and lifestyle trends. The number of cardiovascular diseases is increasing significantly, which has increased the need for medication. One of the successful medications for treating angina pectoris is nitroglycerin. The demand for medications is anticipated to rise due to the rising prevalence of chronic diseases, which will accelerate the market growth for active pharmaceutical ingredients in the near future.

NITROGLYCERIN API MARKET SEGMENTATION

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• By Type Analysis

By type, the market is segmented into 10% NG, 5% NG, ≥ 15% NG.

• By Application Analysis

Based on application, the market is classified into Intravenous, Sublingual Spray, Nitroglycerin Patch, Sublingual Tablets, Capsules, Release Tablet, and Ointment.

DRIVING FACTORS

"Changing Lifestyle to Increase Product Demand"

The nitroglycerine API market is anticipated to grow as angina pectoris incidence rises. New health issues are being caused by people's changing lifestyles in both developed and developing nations, and these issues are helping the nitroglycerin industry expand. The production of explosives is another use for nitroglycerin. The production of explosives for use in mining and construction is using nitroglycerin more frequently, which is driving up demand for the substance.

"Technological Advancements to Aid Growth"

By providing accurate human tissue models, the organ-on-a-chip technology is anticipated to close the gaps in drug screening. The pharmaceutical sector could undergo a revolution thanks to this technology, which will speed up, reduce the cost, and improve the success of medication development. Consequently, the use of organ-on-chip models in drug development is viewed as a sign of the nitroglycerine API market growth.

RESTRAINING FACTORS

"High Cost to Decline in Market Growth"

The annual number of new FDA-approved pharmaceuticals has decreased despite significant investments in pharmaceutical research and development, which has increased almost linearly. It is becoming more and more important to create predictive tissue models using human cells to assess drug efficacy and safety prior to clinical testing in order to reduce the high cost of drug development.

NITROGLYCERIN API MARKET REGIONAL INSIGHTS

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"North America to Lead the Market Ascribed to New Product Release"

North America is projected to hold a dominating part of the nitroglycerine API market share. The rising number of cutting-edge pharmaceuticals coming off-patent and cost-containment initiatives for healthcare are the main reasons fueling the expansion of the generic APIs market in this region, which accounts for a significant portion of the worldwide market share for North America. However, in the upcoming years, the market for generic APIs may be somewhat constrained in terms of growth due to new product releases and price hikes in North America.

The nitroglycerine API market is expected to increase significantly in Europe and it is probable that this trend will continue during the forecast period. This can be attributed to the rise in investments made in R&D projects and the existence of regional important market players. Additionally, it is anticipated that the growth of the biopharmaceutical industry will boost regional market expansion.

KEY INDUSTRY PLAYERS

"Key Players Must Focus On Product Development for Global Market Growth"

The businesses are working on developing new eco-friendly baby care products that provide customers with better effectiveness and greater value. Companies also use innovation, acquisitions, and investments to try to increase sales. They are raising their production capacity in order to better serve their various markets. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products. 

List of Market Players Profiled

• Novasep (France)
• Copperhead Chemical (U.S.)
• Dipharma (Italy)
• Cambrex (U.S.)
• Bharat Pharma (India)
• SD Sinepharm (Beijing)
• Dorsa Pharmaceutical (India)

REPORT COVERAGE

There has been a progressive growth in the control of pharmaceutical medicine pricing worldwide during the past few years. Although several important nations have regulated medicine costs, the U.S. has a significant unregulated market. To reduce expenditure on drugs, governments impose price limits. Regulated medicine pricing, however, mostly causes revenue losses for pharmaceutical firms.