August 23, 2022 07:27 ET | Source: ReportLinker ReportLinker

New York, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Polyvinylpyrrolidone Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)" - https://www.reportlinker.com/p06316182/?utm_source=GNW The COVID-19 pandemic affected all the applications of polyvinylpyrrolidone except the pharmaceutical industry. The pandemic has led to disrupted supply chains globally. Lockdowns across different countries have affected production as key manufacturing units and factories were shut. However, the industries has started recovering since then. Key Highlights A major factor driving the market studied is a rising demand in the pharmaceutical industry and growing application as adhesives in the construction industry. The presence of substitute products in the market is supposed to hinder the market growth. Increasing application scope in the personal care and cosmetic industry will likely act as an opportunity for the market studied. Asia-Pacific dominated the market and is expected to continue its dominance during the forecast period owing to the growing pharmaceutical industry in the region. Key Market Trends Rising Demand in the Pharmaceutical Industry Polyvinylpyrrolidone or PVP can be used in medical and health fields as a binder, excipients, coating, bounded solution of an agent, cosolvent, sterilization disinfectant, solubilizer, sustained release agent, capsule shell, a dispersion stabilizer, and others due to its excellent solubility, solubilization property, bonding capacity, complexing power, and other functions. The pharmaceutical industry and medicine are the earliest and probably the most well-known areas to have benefited from PVP due to its extraordinary biocompatibility and ability to create stable association compounds and complexes with various active substances. According to AstraZeneca and IQVIA, the pharmaceutical sales revenues globally reached USD 1,101 billion in 2020 and increased by 7.72% in 2021 to reach USD 1,186 billion. The United States dominated pharmaceutical sales in 2020 with a share of over 45% or USD 555 billion, while the Europe region stood second with a share of around 20% or USD 228 billion. China, Japan, Canada, India, and Brazil are some of the other major pharmaceutical markets globally. •As per the United Nations Department of Public Information, compared to 2017, the number of persons aged 60 or above is expected to more than double by 2050 and more than triple by 2100, rising from 962 million globally in 2017 to 2.1 billion in 2050 and 3.1 billion in 2100. Owing to all the above-mentioned factors rising demand from the pharmaceutical industry is expected to drive the polyvinylpyrrolidone market over the forecast period. Asia Pacific Region to Dominate the Market The Asia Pacific region is expected to dominate the market for polyvinylpyrrolidone during the forecast period. In countries, like China, India, and Japan, owing to the growing pharmaceutical industry, the demand for polyvinylpyrrolidone has been increasing in the region. In China, polyvinylpyrrolidones (PVP) are widely adopted in the pharma industry as a safe binder and blood plasma expander. China is the world’s largest producer of pharmaceutical ingredients. China’s pharmaceutical market value was ~USD 104.9 billion in 2021 and continuously increased during the forecast period. This increase will make China’s pharmaceutical market the second largest in the world, with surging revenue propelling industry value significantly closer to that of the United States. As of 2021, China holds 12% of the global pharmaceutical market, following the United States, responsible for 40% of the total revenue worldwide. According to Xinhua, the Chinese pharmaceuticals market generated CNY 708.75 billion in 2021, while Chinese domestic pharmaceutical companies amassed USD 502 billion in revenue According to the Government of India, Indian pharma exports witnessed a growth of 103% from FY 2013 - FY 2014, from INR 904.15 billion in FY 2013 – FY 2014 to INR 1,834.22 billion in FY 2021 – FY 2022, and it is expected to reach INR 10,300.35 billion by FY 2030. The exports achieved in FY 2021 –FY 2022 is the Pharma Sector’s best export performance ever. It is remarkable, with exports growing by almost USD 10 billion in 8 years. India has provided pharmaceutical products to more than 200 countries and may continue to do so in the future. The pharmaceutical market in Japan has shown small growth rates in the past years. A complex regulatory and pricing process and regular price cuts have made it complicated for pharmaceutical companies to introduce new innovative products. Another reason for the stagnant market is the promotion of generic drugs adopted by the government since 2007 to reduce healthcare expenditures in Japan. Also, the easy availability of pharmaceutical products online and consultation coupled with increased health concerns among the people are likely to augment the polyvinylpyrrolidone market. The aforementioned factors are expected to increase the demand for polyvinylpyrrolidone in the region during the forecast period. Competitive Landscape The polyvinylpyrrolidone market is consolidated in nature, the top three players account for around 60% of the share in the market. Major companies in the market include BASF SE, Ashland, Boai NKY Pharmaceuticals Ltd, JH Nanhang Life Sciences Co., Ltd., and Huangshan Bonsun Pharmaceuticals Co. Ltd, among others. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06316182/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________