Rapid increase in the per capita healthcare expenditures, demand for local drug production, and increasing requirement for the oral solid drug formulation will be driving the demand for biologic excipients across the globe in the near future. Apart from this, rapidly increasing demand for sustained release or extended-release formulations, growing heavy investments with regards to research and development of pediatric formulations, significant growth in adoption of the advanced drug delivery technologies, patent ending of the most important blockbuster drugs, growing acquisition of agreement research organizations as well as superior uptake of the biologics compelling demand for the parenteral formulations and growing global need for medicines has been constantly driving the revenue growth of biologic excipients market.
Related to biologic excipients market, a research company did conduct a thorough analysis on a global basis. Analysts involved in the development of report named biologic excipients market have additionally revealed several figures and facts on the global market on an approximate basis. Analysts revealed that biologic excipients market will be expanding at 3.6% CAGR over the forecast period, 2018-2028, for reaching a valuation of US$ 1,706.2Mn by 2028-end.
Major players operating in the biologic excipients market are Evonik Industries, Colorcon, Ashland Inc., Roquette Frères, Wacker Chemie AG, BASF Corporation and FMC Corporation among others. Manufacturers and major players in the biologic excipients market are immensely concentrating on implementing strategies, which would be all-inclusive of innovation and expansion of the product portfolio. This step eventually is expected to be notably lucrative for the end-users on a greater basis.
Colorcon Brings back its Business Set-ups in Puerto Rico
According to the current scenario, manufacturers and major players can take note of the matter that Colorcon has brought back its manufacturing operations in its plant, which is located at Humacao, Puerto Rico. The manufacturing plant of Colorcon underwent minimal damages, which was cleared and redeveloped by the company, thereby restoring its entire operations back in place. The company had suffered this loss owing to the event that had occurred the past year, hurricane Maria. At this point, making heavy investments in Colorcon can be highly beneficial for the expansion of product portfolio as well as to elevate position at global business level.
Insights on Puerto Rico Manufacturing Plant
The manufacturing plant delivers wide-ranging Opadry film coating product along with the warehousing for product that are marketed by means of joint Dow – Colorcon CR (Control Release) Alliance. Another focal point is that this company holds a BCP (business continuity plan), which ensures continuity as well as consistency of the production from the company’s multiple manufacturing sites.
Colorcon is also of the point of view that Europe and North America have been contributing significantly towards the growth of the company’s biologic excipients market. Colorcon will continue to maintain its operations in Puerto Rico as this site is considered an integral part of BCP and the manufacturing network that the company has across the world with regards to film coatings.
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