The pharmaceutical excipients market in North America is expected to grow from US$ 1,865. 4 million in 2019 to US$ 2,877. 1 million by 2027; it is estimated to grow at a CAGR of 5. 6% 2019-2027. Multifunctional excipient refers to excipients playing several roles in a dosage type or a drug delivery method.
New York, July 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Pharmaceutical Excipients Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product ; Functionality ; Type of Formulation" - https://www.reportlinker.com/p06103277/?utm_source=GNW
Several APIs (Active Pharmaceutical Ingredients) demonstrate low dissolution rates and poor solubility in aqueous condition. Oral bioavailability of these compounds is low due to poor solubility. In order to increase the bioavailability of these poorly soluble products, formulation methods are used to improve their aqueous solubility and dissolution. ~90% of newly discovered therapeutic compounds in the developmental process are reported to exhibit low aqueous solubility. Additionally, ~40% of new medicines prescribed to patients in hospitals are estimated to have relatively poor aqueous solubility. These drugs require functional excipients to help resolve their weak physico-chemical properties. Multi-functional excipients are used to generate dosage forms that can minimize the number of doses by adjusting the rate of drug release or enhancing drug delivery by targeting the gastrointestinal tract where drug absorption is maximum. In addition, functional excipients are used to re-formulate existing drugs to create efficient and cost-effective products. As the production of novel drug delivery systems is progressing, sophisticated excipients are required to impart these properties to the final product. Moreover, increasing prevalence of chronic diseases and a growing propensity to consume oral formulations are some of the factors anticipated to fuel demand for multi-functional excipients in the pharmaceutical industry. Multifunctional excipients play an important role in the development of intelligent drug delivery systems, thereby leading to the improvement of the achieved therapeutic effect. Therefore, the growth of the pharmaceutical market backed by multi-functionality excipients is driving the market’s growth.
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 global supply chain of medicines is under pressure because of a deficit of raw materials such as active pharmaceutical ingredients (APIs) and excipients.A large share of the medicines sold in the United States is produced in China and India, while almost 80% of the US API demand is met by these two countries.
As one of the world’s largest producers of generic medicines (producing 20% of global generics supply), India imports almost 70% of its APIs from China; therefore, disruption in its supply chain has resulted in drug supply shortages.In the likely and best-case scenarios, the effects of disruptions on pharmaceutical production and consequently on excipients demand caused by lockdowns and travel and transport bans across various countries especially in the US is relatively short term.
According to the research study, around 24% of patients with COVID-19 suffered from acute heart failure (AHF) in the US when they were first identified with the COVID-19.However, this does not mean that all 24% of COVID-19 patients will suffer from acute heart failure in the future.
The demand for drugs is increasing with the rising number of patients with cardiovascular diseases during this pandemic. There is rise in the discovery of clinical drugs for COVID–19 due to which pharmaceutical excipients market is likely to grow. However, the supply disruptions due to extended lockdowns in various countries can have a more substantial impact on oral solid dosage drug manufacturing and, in turn, significantly impact the demand growth of excipients in the North American region.
The overall North America 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 North America 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 North America pharmaceutical excipients market. DuPont de Nemours, Inc.; Roquette Frères; 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 North America pharmaceutical excipients market.
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