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Last Updated: January 18, 2025

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Drugs Containing Excipient (Inactive Ingredient) PROPYLENE GLYCOL


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Branded drugs containing PROPYLENE GLYCOL excipient, and estimated key patent expiration / generic entry dates

Generic drugs containing PROPYLENE GLYCOL excipient

Market Dynamics and Financial Trajectory for the Pharmaceutical Excipient: Propylene Glycol

Introduction

Propylene glycol is a versatile chemical compound widely used as an excipient in pharmaceuticals, cosmetics, and various other industries. Its applications range from being a solvent and humectant to a freezing point depressant and more. Here, we delve into the market dynamics and financial trajectory of propylene glycol, particularly focusing on its role in the pharmaceutical sector.

Market Size and Growth

The propylene glycol market has been experiencing steady growth, driven by increasing demand from various sectors. As of 2022, the market was valued at USD 4.3 billion and is projected to reach USD 6.9 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 5.0% from 2023 to 2032[4].

Key Applications in Pharmaceuticals

Propylene glycol is extensively used in pharmaceutical preparations due to its solubilizing properties and compatibility with a wide range of active pharmaceutical ingredients (APIs).

  • Parenteral Products: It is used in parenteral products containing lorazepam, diazepam, or etomidate[1].
  • Oral Solutions: Found in oral products such as lopinavir/ritonavir or phenytoin[1].
  • Topical Products: Used in topical formulations like silver sulfadiazine[1].
  • Inhaled Medicines: Included in inhaled medicines, such as e-cigarettes containing nicotine[1].

Regional Market Analysis

The global propylene glycol market is segmented into several regions, each with its own dynamics.

  • Asia-Pacific: This region is the largest consumer of propylene glycol, accounting for 44.6% of the global revenue share. The construction and automotive industries in countries like China, India, and Indonesia drive this demand[4].
  • North America: Expected to be the fastest-growing region, driven by the expansion of the healthcare and automotive sectors[4].
  • Europe: Faces challenges due to economic downturns and fluctuations in raw material prices, but still maintains a significant market share[2].

Price Trends and Forecast

The price trend of propylene glycol is influenced by supply-demand dynamics and global economic conditions.

  • Current Prices: As of March 2024, the prices in the USA and Europe were around 1766 USD/MT and 1810 USD/MT, respectively[2].
  • Forecast: Analysts predict a downward trajectory in prices due to slow demand from the pharmaceuticals and cosmetics sectors, coupled with a weak global economic outlook[2].

Supply and Demand Dynamics

The market is affected by several factors:

  • Raw Material Costs: Fluctuations in crude oil prices impact the production costs of propylene glycol, which is derived from crude oil and natural gas[4].
  • Substitute Availability: The presence of substitutes can affect demand, although propylene glycol remains a preferred choice due to its cost-effectiveness and established production processes[4].
  • Economic Conditions: Economic downturns and rising inflation in regions like Europe and North America have negatively impacted the demand for propylene glycol[2].

Safety Concerns and Regulatory Compliance

Propylene glycol is generally considered safe for use in pharmaceuticals, but there are some safety concerns to consider:

  • Toxicological Studies: Long-term exposure studies have shown no significant adverse effects, although high doses can lead to nonlinear pharmacokinetics and potential accumulation[5].
  • Regulatory Approval: Approved and used as a vehicle for topical, oral, and some intravenous pharmaceutical preparations in the US and Europe[3].

Industry Trends and Opportunities

Several trends and opportunities are shaping the future of the propylene glycol market:

  • Bio-Based Propylene Glycol: Growing demand for bio-based propylene glycol, which is more environmentally friendly, presents a significant growth opportunity[4].
  • Expansion of Healthcare Industry: The increasing population and healthcare needs are expected to boost the demand for propylene glycol in pharmaceuticals[4].
  • New Applications: Development of new applications in renewable chemicals and bioplastics is another area of potential growth[4].

Competitive Landscape

The market is characterized by strategic partnerships, mergers, and acquisitions among key players to expand their market share and global presence.

  • Key Players: Focus on increasing their market share through collaborations and expanding their product portfolios[4].

Financial Implications for Pharmaceutical Companies

For pharmaceutical companies, the financial implications of using propylene glycol are significant:

  • Cost Savings: The cost-effectiveness of petroleum-based propylene glycol can help reduce production costs, although the fluctuating raw material prices can introduce volatility[4].
  • Market Positioning: Companies that adapt to the growing demand for bio-based propylene glycol can gain a competitive edge in the market[4].

Key Takeaways

  • The propylene glycol market is expected to grow at a CAGR of 5.0% from 2023 to 2032.
  • Asia-Pacific is the largest consumer of propylene glycol, driven by the construction and automotive industries.
  • Price trends are expected to be downward due to slow demand and a weak global economic outlook.
  • Safety concerns are minimal, but regulatory compliance is crucial.
  • Bio-based propylene glycol and the expansion of the healthcare industry present significant growth opportunities.

FAQs

What are the primary applications of propylene glycol in pharmaceuticals?

Propylene glycol is used as a solvent, co-solvent, and excipient in various pharmaceutical preparations, including parenteral, oral, and topical products.

How does the global economic outlook affect the price trend of propylene glycol?

The global economic outlook, including factors like inflation and economic downturns, can lead to a downward trajectory in propylene glycol prices due to slow demand from downstream industries.

What are the safety concerns associated with propylene glycol?

While generally considered safe, high doses of propylene glycol can lead to nonlinear pharmacokinetics and potential accumulation. However, no significant adverse effects have been reported in long-term exposure studies.

Which region is expected to be the fastest-growing market for propylene glycol?

North America is expected to be the fastest-growing region, driven by the expansion of the healthcare and automotive sectors.

What are the key growth opportunities for the propylene glycol market?

The growing demand for bio-based propylene glycol and the expansion of the healthcare industry are significant growth opportunities for the market.

Sources

  1. Questions and answers on propylene glycol used as an excipient in medicinal products for human use - European Medicines Agency.
  2. Propylene Glycol Price Trend and Forecast - Procurement Resource.
  3. Propylene glycol - Wikipedia.
  4. Propylene Glycol Market Size, Share | CAGR of 5.0% - Market.us.
  5. Propylene glycol used as an excipient - European Medicines Agency.

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