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The polymer based solubility enhancement excipients market size is estimated to grow at a CAGR of 16.84% between 2023 and 2028. The market size is forecast to increase by USD 3,907.24 million. The growth of the market depends on several factors such as rising demand for polymer excipients, increasing geriatric population, and adoption of solid dispersion technology.
This polymer based solubility enhancement excipients market report extensively covers market segmentation by type (copovidone, HPMC, polymethacrylates, HPMCAS, and others), Technology (solid dispersion technology and particle size reduction technology), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The adoption of solid dispersion technology is the key factor driving market growth. Solid dispersion is a widely used process to improve the solubility and dissolution rate of drugs as well as their oral bioavailability. Moreover, the solid dispersion technique is more prevalent in manufacturing medicinal drugs using polymer based solubility enhancement excipients. Solid dispersion technology is widely accepted in countries such as China, the US, the UK, Japan, Germany, France, and Italy.
Moreover, in the pharmaceutical industry, solid dispersion technology is preferred for manufacturing low-water-soluble medicines or drugs. Therefore, the increasing demand for solid dispersion technology across the globe is likely to support the growth of the global polymer based solubility enhancement excipients market during the forecast period.
Rising demand for natural polymers as pharmaceutical excipients is the primary trend shaping market growth. Sodium alginate, gelatin, chitosan, and cellulose derivatives are common natural polymer materials used as polymer excipients. These excipients are used in the pharmaceutical industry to prepare solid, liquid, and semi-solid dosage forms. These natural polymers act as disintegrates, binders, film formers, matrix formers, release modifiers, thickeners, viscosity enhancers, stabilizers, emulsifiers, suspending agents, and mucoadhesives.
Furthermore, hydrogel- and microgel-based drug delivery systems consume natural polymers, owing to their increasing importance in the pharmaceutical industry. Thus, the rising demand for natural polymers as pharmaceutical excipients is expected to support the growth of the global polymer based solubility enhancement excipients market during the forecast period.
Rising concerns about patents is a challenge that affects market growth.
Stringent regulations on the use of various chemicals in the pharmaceutical industry are adversely affecting the adoption of polymer based solubility enhancement excipients. In addition, pharmaceutical manufacturers need to have patents for their drugs to be sold in the market, and drugs can be sold only until the expiry of their patent.
Moreover, different pharmaceutical companies manufacture the same drugs under different patent names, which can strengthen the competition among market players. Hence, the rising concerns about patents are likely to impede the growth of the global polymer based solubility enhancement excipients market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Polymer Based Solubility Enhancement Excipients Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The copovidone segment is estimated to witness significant growth during the forecast period. Copovidone is the mixture of 1-vinyl-2-pyrrolidone and vinyl acetate in the ratio of 3:2 by weight. It is a polymer-based pharmaceutical product made of white- or yellowish-white-colored spray-dried powder. Owing to its extremely high binding capacity, it is used as a binding agent for direct compression tableting.
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The copovidone segment was the largest segment and was valued at USD 1,030.42 million in 2018. Moreover, copovidone viscosity and hygroscopicity make it an ideal excipient for moisture-sensitive drugs. In addition, copovidone has a longer shelf life (more than three years) when preserved in tight containers. Therefore, due to its superior properties, the demand for copovidone is expected to increase during the forecast period.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Countries such as China, India, Japan, and South Korea are leading contributors to the market in APAC. The indigenous production of polymer based solubility enhancement excipients in China and South Korea and the fast penetration of such products in countries such as India, Malaysia, and Japan are major growth drivers for market growth in APAC.
Furthermore, China is the leading country for polymer based solubility enhancement excipients market across the globe and in APAC due to the increasing demand for polymeric excipients in pharmaceutical drugs in the region. Polymer based excipients are important for drug delivery. These are used to stabilize a drug, modulate the release of a drug, and facilitate localized delivery of a drug. In addition, the polymer based excipient itself adds important functionality to a drug formulation. Hence, such factors are expected to drive market growth in this region during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the polymer based solubility enhancement excipients market in the APAC region. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Moreover, more market players are expected to open new production facilities in APAC due to low raw material costs and the shifting trend of API manufacturers toward APAC. Furthermore, the regional market is at an emerging stage except in Japan and China, which will boost the growth of the regional market during the forecast period.
The polymer based solubility enhancement excipients market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
Polymer Based Solubility Enhancement Excipients Market Scope |
|
Report Coverage |
Details |
Page number |
179 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.84% |
Market growth 2024-2028 |
USD 3,907.24 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
15.55 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
North America at 31% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ashland Inc., Associated British Foods Plc, BASF SE, Clariant International Ltd., Colorcon Inc., Croda International Plc, Dow Chemical Co., DuPont de Nemours Inc., Evonik Industries AG, GATTEFOSSE SAS, Innophos Holdings Inc., JRS PHARMA GmbH and Co. KG, Kerry Group Plc, Merck KGaA, Roquette Freres SA, Shin Etsu Chemical Co. Ltd., Solvay SA, The Lubrizol Corp., Tokyo Chemical Industry Co. Ltd., and Wacker Chemie AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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