The pharmaceutical excipients market in Middle East and Africa is expected to grow from US$ 402. 2 million in 2019 to US$ 571. 7 million by 2027; it is estimated to grow at a CAGR of 4. 5% 2019-2027. Many blockbuster drugs are on the brink of losing their patents.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East and Africa Pharmaceutical Excipients Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product ; Functionality ; Type of Formulation" - https://www.reportlinker.com/p06103231/?utm_source=GNW
The patent cliff has resulted in billions of dollars’ worth of brand drug sales losing patent protection. Generic drug companies are free to produce their own replicas when patents expire, which can cost up to 80% less than the originals, eventually resulting in a sharp and sudden loss of profits for the companies that developed them. Use of functionality excipients, allows pharmaceutical firms to extend patents. The need to cut prices, generic competition, and lack of innovation are weighing the pharmaceutical industry down. Excipients have become an integral element in the manufacturing of tablets as these provide improved functionality in pharmaceuticals and aid in drug development and innovation, which, in turn help improve patent life at a lower cost. Excipients play a significant role in helping pharmaceutical manufacturers by increasing treatment effectiveness and compliance. Thus, a surge in generics market is expected to drive the pharmaceutical excipients market.
The market for pharmaceutical excipients market is segmented into product, functionality, and type of formulation.Based on product, the pharmaceutical excipients market is segmented into organic chemicals, inorganic chemicals, and other products.
In 2019, the organic chemicals segment accounted for the largest share, moreover the same segment is expected to grow at a fastest CAGR during the forecast period.Organic chemicals are chemical compounds that contain carbon-hydrogen bonds, and these can be found in natural or synthetic form.
Most organic chemicals are carbon based, hence produced by plants or animals, whereas synthetic organic chemicals are produced through chemical reactions.Organically derived pharmaceuticals excipients include oleochemicals, carbohydrates, petrochemicals, proteins, povidones, acrylic polymers, mineral hydrocarbons, starch, cellulose, and others.
The most used oleo chemical-based pharmaceutical excipients are fatty alcohols, mineral stearates, glycerin, and lipids. The organic segment is expected to lead the market owing to the rise in the use of organic chemicals in various formulations in the pharmaceutical industry.
The growing fear of COVID-19 infection transmission has mandated the development of new guidelines and recommendations by health authorities.South Africa is one of 10 countries involved in an urgent global trial announced by the World Health Organization to identify the most effective treatment for COVID-19.
The Regulator, the South African Health Products Regulatory Authority (SAHPRA), has adopted various scientific reviews of new medicines and vaccines through a priority review process.It has also sought to implement a Special Access Program for practitioners treating COVID-19 patients and ensure that a speedy review of clinical trials for new vaccines or repurposed antivirals will be implemented.
Further, the National Treasury has issued an instruction note to government departments, municipalities, and entities to help speed up the procurement of goods and commodities required to reduce and control the spread of the virus, which would naturally include medical-related products.
The overall Middle East and Africa pharmaceutical excipients market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the Middle East and Africa pharmaceutical excipients market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Middle East and Africa pharmaceutical excipients market. DuPont de Nemours, Inc.; Ashland Global Holdings, Inc.; BASF SE; Evonik Industries AG; Associated British Foods Plc; Archer Daniels Midland Company; Lubrizol Corporation; and Croda International Plc are among a few players operating in the Middle East and Africa pharmaceutical excipients market.
Read the full report: https://www.reportlinker.com/p06103231/?utm_source=GNW
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