New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Taste Masking And Taste Assessment Services And Technologies Global Market Report 2023" - https://www.reportlinker.com/p06464233/?utm_source=GNW
, SPI Pharma Inc., GPT Pharmaceuticals Pvt. Ltd., Adare Pharmaceuticals Inc., AbbVie Inc., Aavis Pharmaceuticals Corp., Allergen Inc., Asahi Kasei Corporation, Emerald Health Pharmaceutical Corp., ESSA Pharma Inc., Glatt Pharmaceutical Services Corp., Pfizer Inc., Thermo Fisher Scientific Inc. and Vertex Pharmaceuticals Inc.
The global taste masking and taste assessment services and technologies market is expected to grow from $74.91 billion in 2022 to $80.97 billion in 2023 at a compound annual growth rate (CAGR) of 8.08%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The taste masking and taste assessment services and technologies market is expected to reach $107.86 billion in 2027 at a CAGR of 7.43%.
The taste masking and taste assessment services and technologies market consists of revenues earned by entities by including taste masking by polymer coating, conventional granulation, and spray congealing with lipids.The market value includes the value of related goods sold by the service provider or included within the service offering.
The taste masking and taste assessment services and technologies market consists of sales of taste masking products such as artificial flavours and sweeteners (sucralose, aspartame).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Taste masking and taste assessment services and technologies refer to various techniques that are applied to overcome the bitter or unpleasant taste of active pharmaceutical ingredients or drugs to achieve patient acceptability and compliance. They are used to make formulations that were initially poorly tolerated by human volunteers more appealing and to provide pleasant paediatric formulations that allow for dose titration.
North America was the largest region in the taste masking and taste assessment services and technologies market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main formulations for taste masking and taste assessment services and technologies are formulations and liquid formulations.Solid formulation refers to a firm tablet formed by compressing medication powder.
They are made using various techniques, such as coating, microencapsulation, organoleptic methods, hot melt extrusion, inclusion complexation, spray drying, and others. They are used for preclinical or clinical operations and commercial operations and are widely used by several end-users, including the pharmaceutical sector, the nutraceutical sector, and contract manufacturing organizations.
The increasing patient compliance due to taste masking is significantly contributing to the taste masking and taste assessment services and technologies market going forward.Patient compliance refers to the degree to which people follow treatment plans, drugs, or lifestyle changes as directed by their medical professionals.
Taste masking and taste assessment services and technologies are extensively used to achieve patient acceptability and compliance.The most common obstacle for patient groups such as paediatrics and geriatrics is the oral administration of bitter or unpleasant-tasting medications which can be overcome by using taste masking and taste assessment services and technologies.
For instance, according to a 2022 event report published by HPCi Media Limited, a UK-based publisher of education and events for the cosmetics and healthcare industries, 90 percent of paediatricians reported that a drug’s taste and palatability were the most significant barriers to completing the treatment. Therefore, the increasing patient compliance due to taste masking will drive the taste masking and taste assessment services and technologies market.
Technological advancements are a key trend gaining popularity in the taste masking and taste assessment services and technologies market.Major companies operating in the taste masking and taste assessment services and technologies market are focusing on developing new methods and technologies to mask the bitter taste of active pharmaceutical ingredients (APIs).
For instance, in October 2022, SPI Pharma, a US-based pharmaceutical company, launched Actimask, a new taste masking technology that involves the production of a thin (micron-sized), uniform, smooth hydrogel coating encapsulating API particles.Actimask® technology uses gelatin as a hydrophilic polymer in the aqueous coacervation process to create a thin coating over API particles, which offers a pleasant mouthfeel without affecting API release or therapeutic effects.
This technology provides a slick and smooth hydrogel layer, allowing for easy formulation and processing, as well as a satisfying patient experience.
In December 2021, Adare Pharma Solutions, a US-based pharmaceutical contract development and manufacturing organization, acquired Frontida BioPharm for an undisclosed amount.The acquisition expands Adare’s portfolio of offerings to include new capabilities such as high-potency compound handling and packaging services.
Frontida BioPharm is a US-based pharmaceutical company that offers oral formulations such as taste masking, controlled release, high potency formulation manufacturing, and bioavailability enhancement.
The countries covered in the taste masking and taste assessment services and technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The taste masking and taste assessment services and technologies market research report is one of a series of new reports that provides taste masking and taste assessment services and technologies market statistics, including taste masking and taste assessment services and technologies industry global market size, regional shares, competitors with a taste masking and taste assessment services and technologies market share, detailed taste masking and taste assessment services and technologies market segments, market trends and opportunities, and any further data you may need to thrive in the taste masking and taste assessment services and technologies industry. This taste masking and taste assessment services and technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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