South and Central America Pharmaceutical Excipients Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product ; Functionality ; Type of Formulation

The pharmaceutical excipients market in South and Central America is expected to grow from US$ 305.3 million in 2019 to US$ 413.7 million by 2027; it is estimated to grow at a CAGR of 3.9% 2019-2027. Multifunctional excipient refers to excipients playing several roles in a dosage type or a drug delivery method. Several APIs (Active Pharmaceutical Ingredients) demonstrate low dissolution rates and poor solubility in aqueous condition. Oral bioavailability of these compounds is low due to poor solubility. To increase the bioavailability of these poorly soluble products, formulation methods are used to improve their aqueous solubility and dissolution. ~90% of newly discovered therapeutic compounds in the developmental process are reported to exhibit low aqueous solubility. Additionally, ~40% of new medicines prescribed to patients in hospitals are estimated to have relatively poor aqueous solubility. These drugs require functional excipients to help resolve their weak physico-chemical properties. Multi-functional excipients are used to generate dosage forms that can minimize the number of doses by adjusting the rate of drug release or enhancing drug delivery by targeting the gastrointestinal tract where drug absorption is maximum.
In addition, functional excipients are used to re-formulate existing drugs to create efficient and cost-effective products.As the production of novel drug delivery systems is progressing, sophisticated excipients are required to impart these properties to the final product.

Moreover, increasing prevalence of chronic diseases and a growing propensity to consume oral formulations are some of the factors anticipated to fuel demand for multi-functional excipients in the pharmaceutical industry.Multifunctional excipients play an important role in the development of intelligent drug delivery systems, thereby leading to the improvement of the achieved therapeutic effect.

Therefore, the growth of the pharmaceutical market backed by multi-functionality excipients is driving the market’s growth.

The market for pharmaceutical excipients market is segmented into product, functionality, and type of formulation.Based on product, the pharmaceutical excipients market is segmented into organic chemicals, inorganic chemicals, and other products.

In 2019, the organic chemicals segment accounted for the largest share, moreover the same segment is expected to grow at a fastest CAGR during the forecast period.Organic chemicals are chemical compounds that contain carbon-hydrogen bonds, and these can be found in natural or synthetic form.

Most organic chemicals are carbon based, hence produced by plants or animals, whereas synthetic organic chemicals are produced through chemical reactions.Organically derived pharmaceuticals excipients include oleochemicals, carbohydrates, petrochemicals, proteins, povidones, acrylic polymers, mineral hydrocarbons, starch, cellulose, and others.

The most used oleo chemical-based pharmaceutical excipients are fatty alcohols, mineral stearates, glycerin, and lipids. The organic segment is expected to lead the market owing to the rise in the use of organic chemicals in various formulations in the pharmaceutical industry.
The growing fear of COVID-19 infection transmission has mandated the development of new guidelines and recommendations by health authorities.The economic crises that have hit different parts of Latin America in recent years have threatened the progress of the pharmaceutical industry in some of the countries.

In Argentina, the Federal Government has reduced formalities for Governmental purchase of medicines, medical devices, and medical supplies.Companies involved in the manufacture, distribution, and commercialization of the key supplies must increase production to their maximum capacity and report to the Sanitary Regulatory Authority and the Ministry of Production, production plans as well as the amount of goods produced and sold and identify the buyers.

Besides, the Brazilian Federal Health Agency (ANVISA) has issued several regulations providing exceptions to regulatory requirements for pharmaceutical products, medical supplies, and medical devices related to COVID-19. Requirements for corporate permits for sanitizers and certain medical drugs and devices, as well as for the extraordinary acceptance of importation of products that are not registered in Brazil, have been relaxed under certain conditions.
The overall South and Central America pharmaceutical excipients market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the South and Central America pharmaceutical excipients market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the South and Central America pharmaceutical excipients market. DuPont de Nemours, Inc.; Roquette Frères; Ashland Global Holdings, Inc.; BASF SE; Evonik Industries AG; Associated British Foods Plc; Archer Daniels Midland Company; Lubrizol Corporation; and Croda International Plc are among a few players operating in the South and Central America pharmaceutical excipients market.