Persistence Market Research recently published a well-curated market study that suggests that the market value of the global cellulose derivative excipient market is estimated to reach ~US$ 300 million in 2019. Further, the report reveals that the market is expected to surpass ~US$ 500 million towards the end of 2029 and likely to grow at a CAGR of ~6% over the forecast period, 2019-2029. According to the study, the favorable mechanical and physicochemical properties of cellulose derivatives play a crucial role in the development of dosage forms and healthcare products in the pharmaceutical sector – a leading factor that is expected to boost the growth of the cellulose derivatives excipient market in the upcoming years.
The presented market study offers a thorough analysis of the numerous factors that are forecasted to influence the growth of the market during the forecast period. Cellulose ethers and cellulose esters are the semi-synthetic cellulose derivatives that play an imperative role in various pharmaceuticals including, extended and delayed-release coated dosage forms, osmotic drug delivery, mucoadhesives, bioadhesives, compressibility enhancers and more. Thus, owing to the various benefits and their role in the manufacturing of new derivatives, cellulose derivatives excipients have garnered significant popularity in recent years.
A surge in the Adoption of Oral Solid Dosage Products Expected to Propel Demand for Cellulose Derivative Excipients
In the last few years, the pharmaceutical and the healthcare sector experienced considerable growth owing to a range of factors including, the rising volume of the aging population and significant advances in the pharmaceutical sector. The growth of the pharmaceutical sector has played a key role in increasing the demand for coatings, flavoring agents, binders, disintegrants, and capsules. Further, according to several research activities in the pharmaceutical field, cellulose derivative excipient has emerged as one of the most ideal ingredients to formulate different medicines. Moreover, the market study put forward by Persistence Market Research indicates that capsules, dissolving tablets, and extended-release tablets that are segmented into the oral formulation category are expected to account for a significant market share over the forecast period.
The global cellulose derivative excipients are expected to witness steady growth in the forecast period due to the snowballing demand for oral solid dose form drugs – a trend that is expected to continue in the upcoming years
Demand for Cellulose Derivatives in Sustained Drug Delivery Systems to Boost Market Growth
In the current scenario, bio-degradable, bio-available, and bio-compatible excipients have garnered immense interest in sustained drug delivery systems. In addition, owing to the distinct binding and natural properties, cellulose derivatives have taken the center stage in multiple pharmaceutical studies and are widely used in controlled drug delivery systems as cellulose derivatives can influence the solubility of drugs – a critical aspect in regulating the release profiles of medicines.
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East and South Asia Offer Lucrative Prospects for Market Growth
The flourishing pharmaceutical sector in the developing nations of South Asia and East Asia including, India, South Korea, Japan, and China is a key factor that is expected to shape the growth of the cellulose derivative excipients market in the upcoming years. In addition, the market is forecasted to grow at a CAGR of ~8% in South Asia owing to the consistent growth in healthcare investments, growing number of research and development activities, and the surge in pharmaceutical production.