Global dexpanthenol market is projected to witness a CAGR of 4.6% during the forecast period 2024-2031, growing from USD 148.2 million in 2023 to USD 212.37 million in 2031F. The growth of the market is supported by the rising requirements from the pharmaceutical industry, growing demand from the food sector, and expansion of the cosmetics and personal care industry.
The rising demand for skin and hair care products is a leading global dexpanthenol market trend. The increasing adoption of cosmetics and personal care products is propelling the requirement for dexpanthenol as it is commonly used in cosmetic products such as mascara, eye shadow, and lipsticks as well as in hair sprays, skin care products, shampoos, moisturizers, wave sets, and hair conditioners. The product helps in enhancing the appearance of the hair by improving the sheen and texture of hair that suffered from damage due to chemical or physical treatments. Also, dexpanthenol finds applications in the formulation of other cosmetic and personal care products such as body care, facial care, lip, nail, and other products.
The rising requirement for dexpanthenol by the healthcare sector is aiding the global dexpanthenol market growth. For instance, according to the estimates of The Hindu, the size of global healthcare sector is USD 10 trillion in 2023. Due to the growth of healthcare sector, the requirement for dexpanthenol is increasing as it is deployed as a supplement for supporting healthy epithelium and is utilized for preventing vitamin deficiency in patients that are on the receiving end of total parental nutrition (TPN). Due to high local concentration and good penetration offered by dexpanthenol, it finds applications in various topical products including lotions and ointments for treating dermatological conditions for promoting healing and relieving itching. The product demand is thus increasing from the healthcare sector, due to the wide range of applications offered by dexpanthenol, supporting the market’s growth.
Increased Demand for Cosmetics and Personal Care Products Supports Global Dexpanthenol Market Growth
The increasing requirement for cosmetics and personal care products in various regions across the globe is one of the leading factors boosting the demand for dexpanthenol. For instance, according to the estimates of RefinedMD, one of the leading providers of advanced aesthetic services in the United States, an average American spends approximately USD 15,000 in their lifetime on skincare. The growth is boosting the demand for dexpanthenol as it finds applications in various sophisticated hair care and skin care products as an active ingredient. Thus, providing lucrative growth opportunities to the market. The product supports skin regeneration by facilitating wound healing and enhancing epidermal differentiation and prevents the formation of biofilms. It acts as a skin barrier, enhancer, and moisturizer. In dry skin types, the product supplements for reduced hydration, positively influencing the molecular mobility of proteins and stratum corneum lipid lamellae. Due to such advantages, the utilization of dexpanthenol is increasing in formulation of various skin and hair care products. It in turn, will boost the requirement for dexpanthenol, propelling the growth of the market.
Rising Product Requirement from Healthcare Sector Boosts Global Dexpanthenol Market Demand
The expansion of healthcare sector in various regions across the globe coupled with the increasing product applications for management of various conditions is propelling the growth of the market. For instance, according to the estimates in The Hindu, Indian healthcare sector is valued at USD 372 billion and is witnessing growth at a CAGR of 22% in 2023. The growth is augmenting the requirement for dexpanthenol as it finds applications as a prophylactic immediately after a major abdominal surgery is conducted to minimize the possibility of paralytic ileus, among others. Paralytic ileus is a condition that occurs when the contractions of the muscles that aid in moving food through the intestines are paralyzed temporarily. Thus, bolstering the demand for dexpanthenol and augmenting the growth of the market.
North America Accounts for a Significant Global Dexpanthenol Market Share
The growth of the market in the region can be attributed to the increase in spendings on healthcare and pharmaceutical sectors, rising demand for personal care products and cosmetics, and growth of food industry. For instance, according to the estimates of the U.S. Bureau of Economic Analysis, the spendings on healthcare rose to more than USD 4.3 trillion in 2022. The growth will provide lucrative growth opportunities for the market over the forecast period as dexpanthenol finds various applications in the healthcare sector.
Dexpanthenol has been shown to aid in various steps of wound healing in different in vivo and in-vitro studies. Dexpanthenol-containing formulations that were administered topically specifically initiated wound healing in vivo models of superficial skin. Additionally, the growth of dermatological sector in various countries across the region is further boosting North America dexpanthenol market size. Due to various positive effects offered by the topical usage of dexpanthenol, including acceleration of re-epithelialization of wound healing and increasing fibroblast proliferation. It, in turn, is propelling the requirement for dexpanthenol and providing lucrative growth opportunities to the market.
Dexpanthenol With Above 99% Purity, Holds a Significant Share of the Market
The rising requirement for dexpanthenol with above 99% purity can be attributed to the rapid expansion of cosmetics and personal care sector in various regions across the globe. For instance, as per the estimates of Cosmetics Europe, the value of the Europe cosmetics and personal care products market in 2022 was approximately USD 95 billion (EUR 88 billion). The different markets for cosmetics and personal care products in Europe along with their share in Germany with USD 15.48 billion (EUR 14.3 billion), France with USD 13.96 billion (EUR 12.9 billion), Italy with USD 12.45 billion (EUR 11.5 billion), and the United Kingdom with 11.37 billion (EUR 10.5 billion).
Due to the augmentation in the growth of the cosmetics and personal care sector, the requirement for dexpanthenol is rising as the product finds its applications in various cosmetics and personal care products, including lip products, nail products, and facial care products, among others. Thus, the market’s growth is bolstering.
Expansion of Pharmaceutical Sector Boosts Global Dexpanthenol Market Demand
The rapid expansion of the pharmaceutical sector is propelling the market demand as dexpanthenol has various applications in the industry. For instance, according to the Economic Times Economic Survey Report, India’s domestic pharmaceutical market is projected to reach USD 130 billion by the year 2030. The growth is boosting the demand for dexpanthenol due to its wide range of applications. Dexpanthenol is a biologically active component of panthenol and is oxidized to pantothenic acid in the mucous membranes and skin and stimulates the biosynthesis of coenzyme A, glutathione, and ATP, which protect against cell damage.
Dexpanthenol, with anti-inflammatory and anti-oxidative effects, can be used both systematically and topically. Systempic dexpanthenol finds applications in clinical practices due to its positive effects on burning feet syndrome and postoperative enteroparesis. Also, Dexpanthenol is utilized as a constituent of various tablets, ointments, injections, and eyedrops. The beneficial effects of dexpanthenol have been observed in patients that have undergone therapy for burn injuries and scar treatment or transplantation. The most prominent effects of formulations that contain dexpanthenol include mitigation of itching and stimulation of epithelization. The beneficial effects of dexpanthenol are boosting its requirement by the pharmaceutic sector and aiding the market’s growth.
Future Market Scenario (2024 – 2031F)
According to global dexpanthenol market future analysis, the market will witness significant growth over the forecast period owing to increasing research activities on dexpanthenol to determine their safety and efficacy in different products and rising requirements from the pharmaceutical, cosmetics, and personal care industries. For instance, Fidia Farmaceutici S.p.A., Bologna, Italy, is conducting an interventional study to assess the safety and efficacy of eye gel products with 5% dexpanthenol on patients suffering from severe to moderate dry eye syndrome. In placebo controlled, double blind, and randomized study the main objective of the investigation is to establish that the test device will be non-inferior to the reference device in improving the conjunctival and corneal surface state. The study is expected to conclude in December 2024. Such experiments and studies will boost the requirement for dexpanthenol as they will aid in determining the effectiveness and safety of dexpanthenol, propelling their requirement for different applications.
Report Scope
“Dexpanthenol Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global dexpanthenol market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031F. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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