NEW YORK, Oct. 9, 2020 /PRNewswire/ -- Adoption of pharmaceutical excipients for taste masking techniques for achieving patient compliance with the drugs, and its acceptability especially amongst the geriatric and pediatric population, are set to drive market growth. Oral administration of medicines with an unpleasant taste is a major problem faced by patient groups. Taste masking technique is a key success determinant for oral dosage forms such as tablets.
As the oral route is thought to be the most convenient for drug administration, the growth of the pharmaceutical excipients for taste masking market is expected to see an upswing over the coming years. Also, increasing geriatric population and rising incidence of chronic diseases such as diabetes, cancer, and cardiovascular diseases will drive the growth of the pharmaceutical excipients for taste masking market, globally, at a CAGR of over 5% through 2030.
Key Takeaways from Pharmaceutical Excipients for Taste Masking Market Study
- Based on pharmaceutical excipient masking agents, artificial masking excipients is the most profitable segment, with a market value share of around 34%, due to the higher adoption of the artificial agents in taste masking processes.
- Growing aging population and adoption of medicines for the pediatric population around the world will increase the demand for pharmaceutical excipients for taste masking products over the forecast period.
- In terms of technique, coating is the leading segment, owing to its efficiency in masking the taste of APIs in final finished products.
- Europe is the most lucrative market in the global pharmaceutical excipients for taste masking market, and holds around 1/3 of the market share, owing to higher cost API processing in the region.
- As end users, pharmaceutical companies lead the market due to high in-house production of drugs by major pharmaceutical companies.
- The COVID-19 pandemic has led to lockdowns and restrictions, which has adversely affected the production of pharmaceutical excipients for taste masking agents.
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"Rising demand for medicines to treat chronic disease conditions, and increasing demand for oral and patient compatible medicines such as those with pleasant taste, are the main factors expected to contribute in propelling the growth of the global pharmaceutical excipients for taste masking market over the coming years," says a PMR analyst.
Growing Trends in Drug Formulation
Oral drugs are popular as they easy ingestible and absorbable. As such, good taste of the medicine is a necessary feature for patient compliance with the medicines. Patient compliance with oral medicines will boost the growth of the pharmaceutical excipients for taste masking market. The market is expected to exhibit significant growth in terms of CAGR during the forecast period (2020-2030).
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Key Strategy amongst Market Players
Key players in the pharmaceutical excipients for taste masking market are focused on strengthening their market presence through a variety of taste masking technologies and with the development of new platforms. These include stimuli responsive systems for drug delivery by including pH-sensitive and ion-sensitive polymers to mask the bitter taste of drugs. For instance, Acetaminophen is masked with Shellac, which is a natural polymer meant to mask bitter taste.
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What else is in the report?
Persistence Market Research offers a unique perspective and actionable insights on the pharmaceutical excipients for taste masking market in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030, based on type (natural, artificial, nutritive, non- nutritive, polyols, and others), technique (hot melt extrusion, microencapsulation, coating, organoleptic methods, and others), usage (solid dosage forms-tablets, granules, capsules, and liquid dosage forms), and end use (pharmaceuticals, nutraceuticals, and contract manufacturing organizations), across seven key regions.
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