Blog - Glycine Market Size Share Analysis 2022-2029

2021-03-08

Glycine Market is expected to grow at a high CAGR of 4.22% during the forecast period (2022-2029).

Growth of Pharmaceutical Industry

The growth of the global pharmaceutical industry is one of the major factors for the growth of glycine applications in the pharma industry which in turn is boosting the growth of the global glycine market. Glycine used as a sweetener,  emollient, emulsifying and solubilizing agent in production of various drugs. According to the statistics published by the European Federation of Pharmaceutical Industries and Associations (EFPIA), The research-based pharmaceutical industry played a critical role in restoring Europe to growth and ensuring future competitiveness in an advancing global economy. In 2017 it invested an estimated € 35,200 million in R&D in Europe.  In 2017 North America accounted for 48.1% of world pharmaceutical sales compared with 22.2% for Europe.  64.1% of sales of new medicines launched during the period 2012-2017 were on the US market, compared with 18.1% on the European market. Owing to these factors, the pharmaceutical industry is anticipated to dominate the global glycine market in the future. 

The global pharmaceutical grade glycine market was valued at USD 393.86 million in 2019 and the market is estimated to grow at a CAGR of 4.22% in the forecast period to reach a market value of USD  *** million by 2027.

Glycine is used as a sweetener, and certain pharmaceutical grade products include glycine to improve gastric absorption of the drug. It is also used as an emollient, emulsifying agent, and solubilizing agent. Pharmaceutical grade glycine is growing at a higher pace as compared to other grades owing to rapid growth of pharma and cosmetic industry in the world especially in Asia-Pacific and North America. In 2018 North America accounted for 48.9% of world pharmaceutical sales compared with 23.2% for Europe. However, the research-based pharmaceutical industry can play a critical role in restoring Europe to growth and ensuring future competitiveness in an advancing global economy. In 2018 it invested an estimated € 36,500 million in R&D in Europe. On the other hand, pharma and cosmetic industry is growing at a higher pace in emerging economies such as Brazil, China, and India. According to IQVIA MIDAS, the Brazilian, Chinese and Indian pharma markets grew by 11.4%, 7.3% and 11.2% respectively compared to an average market growth of 5.0% for the top 5 European Union markets and 7.8% for the US market during the period 2014-2018.

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