Tableting Agents Market Analysis
Tableting Agents Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2020 - 2027
A tableting agent is a substance used in formulation with active pharmaceutical ingredients in medications. It is also known as excipients. The main purpose of tableting agent is long term stabilization of the drugs, bulking of solid dose formulations, and enhancing the therapeutic effects of medications. Tableting agents in drugs should match the pharmaceutical regulations and standards to ensure better safety and high efficacy. Moreover, the Federation of International Pharmaceutical Excipient Council, a non-profit pharmaceutical regulatory organization, develops, implements, and promotes the use of tableting agents according to quality, safety, and function of drugs.
Global Tableting Agents Market - Drivers
The use of tableting agents is widely diversified in pharmaceutical products due to its ability to impart properties such as long term stabilization, cohesion, and others to the final dosage form. Moreover, specialized dosage forms such as sustain release dosage form can be manufactured with the use of proper tableting agents. Tableting agents can also help in providing dose flexibility and dose uniformity in the final dosage forms i.e. tablets and capsules. Moreover, recent developments by pharmaceutical companies in excipients and its properties is expected to support the global tableting agents market growth over the forecast period. For instance, in 2019, DuPont de Nemours, Inc developed the new surfactant excipient FM100, which stabilizes biologics better than conventional excipients.
Global Tableting Agents Market - Impact of COVID-19
The COVID-19 pandemic has impacted growth of various markets and it is also expected to hamper growth of the global tableting agents market during the forecast period. Moreover, safety precautions suggested by the World Health Organization to reduce the risk of spread of COVID-19 and implementation of nationwide lockdowns have affected the supply chain of tableting agents to pharmaceutical companies. Moreover, higher shipping prices due to reduced excipient supply containers has hampered overall distribution of the medicines.
Global Tableting Agents Market - Restraints
Tableting agents and active pharmaceutical ingredients may have certain incompatibilities that could lead to drug-tableting agent interaction, which may reduce potency of the drug. Moreover, tableting agents affect physiochemical characteristics of active pharmaceutical ingredients, which may lead to formation of molecular complexes and increase the rate of chemical degradation. These factors are expected to restrain the global tableting agents market growth.
Global Tableting Agents Market - Regional Analysis
On the basis of region, the global tableting agents market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In North America, pharmaceutical companies are focusing on development of advanced technologies and implementation of new excipients, which are effective for the treatment, which is driving demand for tableting agents in this region. For instance, in 2019, Millipore Sigma launched Partech COAT excipient, a new excipient with low viscosity in solution designed for immediate release film coating application.
Moreover, in Europe, pharmaceutical companies are focusing on appropriate development procedure for tableting agents, propelling new product pipelines, and focusing on strategies such as acquisition and mergers in order to increase their market share in the global tableting agents market. For instance, in 2017, Croda International Plc, a chemical manufacturing company, announced its acquisition of Enza Biotech AB, a research enterprise from Lund University of Sweden.
Global Tableting Agents Market - Competitive Landscape
Key players operating in the global tableting agents market include Ashland Global Specialty Chemicals Inc, BASF SE , DuPont de Nemours, Inc, Roquette Frères, Evonik Industries AG, Associated British Foods plc, Colorcon, Inc., Croda International plc, Akzo Nobel N.V, Innophos Holdings, Inc, and Lubrizol Corporation.
Global Tableting Agents Market - Taxonomy