The global pharmaceutical hot melt extrusion market is predicted in a report by Transparency Market Research (TMR) finds fragmented competitive landscape owing to presence of strong players in the market. Some of the leading players operating in the global pharmaceutical hot melt extrusion market are Baker Perkins Ltd., Milacron Holdings Corp., Gabler GmbH & Co. KG, Thermo Fisher Scientific Inc., Coperion GmbH, Leistritz AG, and Xtrutech Ltd.
A new report by Transparency Market Research, predicts the global pharmaceutical hot melt extrusion market is likely to increase from a value of US$26.6 mn in 2015 to US$36.4 mn by 2024, growing at a CAGR of 3.90% during the period from 2016 to 2024. In terms of volume, the market is expected to expand at a CAGR of more than 4.7% over the same period of time. North America is dominating the global market for pharmaceutical hot melt extrusion with a share of nearly 38% in 2015. The twin screw extruders segment is the key contributor to pharmaceutical hot melt extrusion market currently and is expected to remain dominant over the forecast years.
High Awareness about Health to Drive Growth
The rising awareness about benefits hot melt extrusion over conventional processing techniques, is the key factor boosting significant growth of the global pharmaceutical hot melt extrusion market. The operating parameters in manufacture of hot melt extrusion easily be changed. The screw elements permit agitator designs to be easily changed and optimized to suit a particular application. Additionally, the die plates can be exchanged with the extrude diameter. Aforementioned characteristics are augmenting the demand for pharmaceutical hot melt extrusion which in turn is driving growth of the global pharmaceutical hot melt extrusion market.
However, the rising concerns about quality and the non-compliance of regulatory requirements is a major restraint to the growth of the pharmaceutical hot melt extrusion market. In addition to this, inadequacy of the formulation owing to characteristics of API and incompetence in delivering on-time supplies is hampering growth of the global pharmaceutical hot melt extrusion market.
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The usage of hot melt extrusion technology in pharmaceuticals is increasing due to its capability of manufacturing novel drugs with improved bioavailability. Production of novel drugs with its high solubility and bioavailability has boosted the adoption of hot melt extrusion process in drug-delivery systems. This process involves application of heat, agitation, and removal of pressure through extrusion channel for mixing purposes.