May 28, 2024
Microcrystalline Cellulose Market

Microcrystalline Cellulose Is Driven By Growth In Pharmaceutical Industry

Microcrystalline cellulose is a partially depolymerized cellulose prepared by treating alpha-cellulose, obtained as a pulp from fibrous plant material, with mineral acids. It is produced from wood pulp and cotton. Microcrystalline cellulose has various advantageous properties such as chemical inertness, thermal stability, and resistance to acid hydrolysis which makes it suitable for many applications. It is widely used as a diluent in pharmaceutical products to enhance tablet strength and size, improve flow and compression characteristics, and optimize drug release rates.

The global Microcrystalline Cellulose Market is estimated to be valued at US$ 1349.84 billion in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growth of the microcrystalline cellulose market is majorly driven by increasing demand from the pharmaceutical industry. MCC improves properties like compressibility, flowing characteristics and disintegration of tablets which makes it a suitable excipient in pharmaceuticals. As per estimates, over 80% of orally administered drugs contain microcrystalline cellulose. Rising global healthcare expenditure and increasing incidence of chronic diseases is also fueling pharmaceutical sales which is expected to boost demand for microcrystalline cellulose. Technological advancements to develop new grades of MCC suitable for diverse pharmaceutical applications through modification of properties like particle size distribution, surface area, and pore size is another key trend in the market.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the microcrystalline cellulose market is moderate. Significant capital requirements and economies of scale create barriers for new companies.

Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes. Buyers can switch to alternative products if prices increase.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials required for microcrystalline cellulose production such as wood pulp are available from multiple suppliers.

Threat of new substitutes: The threat of new substitutes is moderate as microcrystalline cellulose has few direct substitutes and is used across various end-use industries.

Competitive rivalry: The competitive rivalry in the market is high due to the presence of global players and differentiated products.

Key Takeaways

The Global Microcrystalline Cellulose Market Share is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis: North America is expected to hold the largest share in the global microcrystalline cellulose market during the forecast period. The growth in North America can be attributed to the large production capacities, established pharmaceutical and food industries, and high health awareness.

Key players: Key players operating in the microcrystalline cellulose market are Thermo Fisher Scientific, Inc., Illumina, Inc., PerkinElmer Genomics, QIAGEN, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Macrogen, Inc.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it