Impact Ofs COVID-19 on Pharmaceutical Hot Melt Extrusion Market : Implications on Business Strategies, Countermeasures, Economic Impact
Albany, NY -- (SBWire) -- 10/16/2020 --ALBANY, New York, Jun 19, 2020 – Hot melt extrusion (HME) refers to a technique of manufacturing that is traditionally utilized in the food and plastic industries. This technique is gaining traction in the pharmaceutical industry, which is likely to open up new growth avenues for the global pharmaceutical hot melt extrusion market over the timeframe of analysis, from 2016 to 2024.
The growing popularity of pharmaceutical hot melt extrusion is due to the fact that the technique allows constant manufacturing of a wide range of dosage formulations, comprising solid dose form, which requires increased attention for poorly soluble active pharmaceutical ingredients.
The entry of hot melt extrusion into the healthcare industry is a recent phenomenon. In the medical industry the technique is utilized in the mixing of polymers with active pharmaceutical ingredients and building of medical devices. Hot melt extrusion technique is utilized in the enhancement of active pharmaceutical ingredients bioavailability. It is also utilized in the in the preparation of precursors for various thermoplastic drug-eluting devices, such as intra vaginal rings and subcutaneous and intraocular implants. The utilization of hot melt extrusion technology in various pharmaceutical applications is rising, thanks to its capability to make novel drugs with better bioavilability. These factors are estimated to boost the expansion of the global pharmaceutical hot melt extrusion market in the years to come,
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Some of the well-established companies in the global pharmaceutical hot melt extrusion market are Gabler GmbH & Co. KG, Thermo Fisher Scientific Inc., Milacron Holdings Corp., Baker Perkins Ltd., Xtrutech Ltd, and Coperion GmbH.
Transparency Market Research (TMR) has come up with a report on global pharmaceutical hot melt extrusion market that delves deeper into the market dynamics and offers a detailed view. Experts at TMR predict that the global pharmaceutical hot melt extrusion market will expand at a steady rate of 3.9 % CAGR over the timeframe of analysis, from 2016 to 2024. The market is estimated to reach a valuation of around US$ 36.4 Mn through 2024.
North America and Europe to Account for a Large Chunk of the Market
The global pharmaceutical hot melt extrusion market is split into the five major regions of Latin America, Asia Pacific, Middle East and Africa, Europe, and North America. The need for territory-based segmentation lies in the importance of an in-depth assessment of the regional markets over the years of projection.
North America is expected to dominate the overall pharmaceutical hot melt extrusion market, throughout the tenure of analysis. The domination of the region is ascribed to the presence of several key market players in the region and rapid adoption of advanced technologies.
Europe is likely to come up as another prominent region in the global pharmaceutical hot melt extrusion market and is likely to maintain high demand for the hot melt extrusion technique from the medical industry. High demand for improved medical equipment in the region is further estimated to drive the demand for the technique in the region.
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Benefits of Hot Melt Extrusion Technique over Traditional Methods to Spell Growth for the Market
The development of the global pharmaceutical hot melt extrusion market is likely to be influenced by the increasing awareness about the benefits of utilization of pharmaceutical hot melt extrusion in comparison with traditional techniques. There has been an augmented awareness on part of the manufacturers about the benefits of using pharmaceutical hot melt extrusion.
On the other hand, certain factors such as rising concern about the overall quality of the entire procedure and non-adherence to certain compulsory regulations are likely to leave adverse impact on the growth of the global pharmaceutical hot melt extrusion market over the period of assessment, 2016to 2024.
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The information shared in this review is based on a TMR report, bearing the title, "Pharmaceutical hot melt extrusion market (Product Type – Twin Screw Extruder, Single Screw Extruder, Laboratory Extruder, and RAM Extruder; End User – Research Laboratory, Contract Manufacturing Organization, and Pharma Companies) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024."
The global pharmaceutical hot melt extrusion market is segmented based on:
Twin Screw Extruder
Single Screw Extruder
Contract Manufacturing Organization
Rest of Europe
Middle East and Africa
Rest of Middle East & Africa
Australia & New Zealand
Rest of Asia Pacific
Rest of Latin America
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