An Appreciable CAGR Of 6.9% Expected To Be Witnessed By Pharmaceutical Excipient
Posted by Merin John on July 7th, 2021
One of the major trends witnessed by the healthcare vertical is that of the key stakeholders going for service-oriented business models. These “all-in-one” models are bound to rejuvenate the healthcare vertical on the whole. The Pharmaceutical Excipients Market is on the replenishment plank and gives insights on the same count.
Microcrystalline cellulose (MCC) is one of the most widely used excipients in Europe and Asia Pacific. The prime reasons contributing to MCC’s popularity is its multi-functionality as a diluent used in direct compression and also that it is an anti-caking agent and an emulsifier. Furthermore, it fulfils all USP standards, which further drives its demand.
In addition, manufacture of oral liquid formulations is gaining popularity as a patient-centric drug delivery format, despite having shortcomings such as shorter shelf life and need for airtight packaging. In this context, oral liquid formulation administration is preferred for geriatric and pediatric patients and people suffering from chronic diseases such as cancer with reduced swallowing capacity.
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Oral liquid formulations provide dosing flexibility, which is particularly suited to oral drugs that are dosed by patient weight or body surface area. However, excipient’s solubility and stability data is extremely important during excipient selection for oral liquid formulations.
These are some of the important findings of the latest report released by Persistence Market Research which is titled as ‘Pharmaceutical Excipients Market: Global Industry Analysis and Forecast 2017 – 2021’. Besides, this report also has a comprehensive section on the market dynamics affecting the global pharmaceutical excipients market and gives a clear picture regarding the factors that are affecting the market growth. As per the numbers provided in this report, the global pharmaceutical excipients market was valued at US$ 5,682.7 Mn in 2017 and is anticipated to reach a valuation of US$ 7,415.2 Mn in 2021 end, displaying a CAGR of 6.9% during the period of assessment 2017-2021.
Global Pharmaceutical Excipients Market: Dynamics
Increasing innovative collaborative research opportunities in pediatric formulations is being pushed through evolution of new regulations, additional funding opportunities, and increased public-private partnerships. This has been shifting focus to development of excipients used in both oral solid and liquid pediatric formulations, which are flexible, dispersible and multi-functional.
Furthermore, continued prioritization of unmet medical needs in pediatrics is expected to drive demand for these excipients and oral formulations in the forthcoming years.
It is also noted that stability testing of excipients is one the most important phases in determining the strength and efficacy of a drug. As more drug manufacturers rely on imports to fulfill requirements for excipients, the stability testing phase adds a layer of complexity to the already costly procedures. This results in uncertainty and lower revenue prospects for excipients manufacturers. These factors are likely to act a hurdle to the market growth of pharmaceutical excipients.
Global Pharmaceutical Excipients Market: Segmentation and Forecast
Global pharmaceutical excipients market is segmented on the basis of chemistry type, application type, functionality and by region.
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About the AuthorMerin John
Joined: December 11th, 2020
Articles Posted: 262
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