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Pharmaceutical Grade HPMC Market - Forecast(2023 - 2028)
Pharmaceutical Grade HPMC Market Overview
Pharmaceutical
Grade HPMC Market size is forecast to reach $2.25 billion by 2026, after
growing at a CAGR of 4.4% during 2021-2026. Hydroxypropyl Methylcellulose
(HPMC) acts as a hydrophilic gel matrix material and bio-adhesion materials
that are widely used in pharmaceutical applications like film-coatings,
biological adhesives, and thickening agents. The rise in demand for halal &
kosher certified capsules, especially in the Middle East is driving the
market's demand, as these capsules coating and gelatin are based on fiber
cellulose and not animal-based such as pork. The increasing trend towards using
bio-based products to keep the environment green or eco-friendly is further
expected to drive the growth of the market. Moreover, the rise in consumer
awareness towards the negative effects of synthetic materials is pushing the
demand for bioadhesives for medical use, which in turn fueling the
Pharmaceutical Grade HPMC share globally.
COVID-19 Impact
The unprecedented crisis brought by COVID-19 during 2020 continues to have a clear
and significant impact on the worldwide workforce, industry, country, and global
economy, and the Pharma Grade HPMC market is no exception. The supply chain got
disrupted due to a decrease in the workforce, strict monitoring on import or export
of materials, and operation shutdown, which led to a shortage of key components
required in manufacturing the Medical grade HPMC. Moreover, the decline in
production of HPMC-based Medical products, due to partial lockdown also has a
negative impact on the growth of the market.
Report Coverage
The
report: “Pharmaceutical Grade HPMC Market
– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the
following segments of the Pharmaceutical Grade HPMC Industry.
Key Take away
- APAC region is projected to witness the highest growth during the forecast period due to and rise in healthcare investments and technological advancement.
- Whereas China, India, and South Korea are the major markets in the region.
- Stringent government’s regulation and growing demand of bio-based products are contributing towards the growth of the market.
- COVID-19 has hindered the market growth for Pharmaceutical Grade HPMC, due to disruption in the supply of material and global lockdown.
Pharmaceutical Grade HPMC Market Segment Analysis - By Viscosity Type
Low Viscosity segment
held the largest share of more than 35% in the Pharmaceutical Grade HPMC Market
in 2020. HPMC with low viscosity is used as tablet binders in the wet
granulation of tablets, as they are highly stable binders, which do not
interact with the drug. General tablet coating requires a low viscosity level
of HPMC grade, by using it, the solid content in the coating formulation can be
increased with lesser use of water, which increases coating speed and
efficiency. Moreover, Low viscosity grades of HPMC provide adequate erosion and are
recommended for drugs with very high-water solubility. Furthermore, low
viscosity grades are also used in many creams, ointment, and suspension
formulations including ophthalmic preparations.
Pharmaceutical Grade HPMC Market Segment Analysis - By Form
Powder
segment held the largest share of more than 40% in the Pharmaceutical Grade
HPMC Market in 2020. HPMC powder is a non-ionic water-soluble cellulosic
polymer and comes in off-white to a yellowish smooth powder. These are considered
safe for consumption and are used as an ophthalmic lubricant as well as a
controlled delivery component in oral medication. Moreover, HPMC powder is used
as a raw material for producing film coating solutions for tablets, which
improves the dissolution rate of drugs. HPMC powder swells and turns into a bit
turbid colloidal solution when mixed in cold water. HPMC powder is highly
soluble in water unlike the granular form, and the solubility changes with
viscosity and is also used as a stabilizer, as an emulsifier, and as a
thickening agent. Therefore, due to the above uses and advantages of
pharmaceutical grade HPMC powder they are widely used.
Pharmaceutical Grade HPMC Market
Segment Analysis - By Application
Film-coating & Film-forming Material held the largest
share of more than 25% in the Pharmaceutical Grade HPMC Market in 2020. HPMC is
widely used as film coating materials which makes the tablets disintegrate and
expose the core tablet to the desired location in the gastrointestinal tract.
As tablets are the most prescribed dosage form in the pharmaceutical industry, this
helps in driving the demand for film coating. HPMC coated tablets are cheaper
and have a thin layer of safe ingredient, unlike sugar-coated tablets which are
costlier, and has a thick layer, which increases the size of the tablets, and
are difficult to swallow. Moreover, the film coating makes tablets compact,
attractive, and smooth in shape, so they can easily be swallowed by children
and the elderly. HPMC is non-toxic and tasteless and significantly enhances the
dissolution rate, bioavailability, and the drug's effective time. Therefore,
these properties provided by film coating & forming material are driving
the demand for the market.
Pharmaceutical Grade HPMC Market
Segment Analysis - By Geography
North America held the largest share of more than 40% in the Pharmaceutical Grade HPMC market in 2020. The increasing vegan population, surging adoption of better health care facilities coupled with increasing innovations in technologically advanced products, extensive per capita health expenditures, and huge investments in R&D for effective treatment alternatives drives the demand for Pharmaceutical Grade HPMC in North America. Moreover, the increasing elderly population and growing investment in medication for the treatment of diseases are also contributing to the growth of this market in the region.
Figure: North America Pharmaceutical
Grade HPMC Market Revenue, 2020-2026 (US$ Million)
Pharmaceutical Grade HPMC Market Drivers
Growing Use of HPMC for Oral Drug Delivery is Driving the Market Growth
HPMC is a popular pharmaceutical
excipient, which is widely used in oral sustained drug release matrix systems.
HPMC enables the release of a drug in a controlled manner, which increases the
duration of the release of the drug to lengthen its therapeutic effect. Oral
drug delivery provides an effective alternative for treating various diseases,
because of its several benefits such as ease of handling, patient compliance,
and cost-effectiveness, it is regarded as the most commonly accepted route for
drug administration. There is a high demand for oral drugs, due to the spread
of chronic diseases around the globe such as diabetes, heart disease,
Alzheimer's, and cancer. According to the Centre for Disease Control and
Prevention (CDC), 6 out of 10 adults in the United States are suffering from
chronic diseases. Moreover, the COVID 19 pandemic is also helping in driving
the demand for oral drugs such as Baricitinib, which is FDA approved drug in
combination with Remdesivir for treatment of COVID 19 patients. Furthermore,
rising health expenditure and a growing geriatric population is further driving
the market growth for Pharmaceutical Grade HPMC Market.
Surging Demand of Vegetarian Capsule is Driving the Market Growth
Vegetarian
capsules are observing an increase in adoption as these types enhance
formulation design in both pharmaceuticals as well as nutraceutical industries.
The rise in demand for vegetarian capsules can be attributed to the rising
trend of vegan life, among the population, in which an individual avoids all
animal-based products. The traditional capsules are made of animal-based
gelatine, whereas these vegetarian capsules or vegan capsules are made from
hypromellose or HPMC, which is derived from softwood trees, such as pine, and
spruce trees. Manufacturers are using HPMC in many commercial products and are
a popular alternative to animal-based gelatine. Furthermore, in addition to its
use in vegan-based capsules, HPMC is also used as a binder or coating in
tablets. Thus, owing to the growing vegan trend, capsule manufacturers are
focusing more to produce vegetarian-based capsules, with effective
physiological properties such as low moisture content that is best suited for
hygroscopic drug and nutrient supplements. Therefore, the above factors are driving
the demand for HPMC is the pharmaceutical industry.
Pharmaceutical Grade HPMC Market
Availability of Gelatine Capsules
The
availability of gelatine-based capsules that are derived from beef or pork is
hindering the growth of the market. As gelatine capsules are easily digested,
have increased bioavailability, and are much easier to consume due to smooth
texture. Furthermore, gelatine capsules have robust and approved technology,
which reduces its manufacturing cost. On the other hand, the investment cost of
HPMC technology is high due to the complexity involved that further increases
the manufacturing cost, which in turn acts as a challenging factor to the
market growth.
Pharmaceutical Grade HPMC Market Landscape
- Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Pharmaceutical Grade HPMC Market report. Major players in the Pharmaceutical Grade HPMC Market is The Dow Chemical Co., Celotech Chemical Co., Ltd., ACG Group, Ashland Global Holdings Inc., Gemhold (SJZ) Trading Co., Ltd., Landoil Chemical Group Co., Ltd., Sidley Chemical Co., Ltd., DuPont de Nemours, Inc., Shin-Etsu Chemical Co., Ltd., JRS PHARMA GmbH + Co. KG, and among others.
Acquisitions/Technology Launches
- In January 2020, ACG Group, the only supplier in the world offering end-to-end manufacturing solutions for the pharmaceutical industry was launched a new 'Platinum standard' in HPMC capsules, offers a high-performance & high-quality capsule. This new launch will expand ACG the product portfolio and offer a reliable product to the market, which will further, drive the growth of the market.
- In November 2019, Ashland Global Holdings Inc. was announced that it has launched three pharmaceutical solutions, Plasdone S630 Ultra, Benecel XR and XRF, and Viatel bioresorbable polymers to improve drug delivery systems. With this new launch, Ashland has expanded its portfolio to meet formulators growing needs, which will further drive the growth of the market.
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