It’s no secret that product formulation is pivotal to the success of many everyday goods, from food items and cosmetics to household cleaners, medicines and agrochemicals. But it’s not just new products that rely on an optimal formulation for their success. Indeed, many companies can boost sales of existing products by revisiting the formulation to make the goods safer, longer lasting or more effective, for example.
However, despite the impact they have across a wide range of industries, it’s not often that you hear of the importance of formulations and the role formulators play within a product’s life cycle. In this blog post, we consider how innovative preparations can beckon business success by bringing new products to market or rejuvenating existing ones.
Formulations are crucial to commercial success in many sectors
Ultimately, across many industries, formulators are responsible for developing products that deliver active ingredients in a functional, stable and useable form. When creating these formulations, there are many factors that must be taken into account. Notably, formulators need to consider the complexity and stability of active ingredients and excipients, regulatory requirements and budgetary constraints.
To secure commercial success in ever-competitive markets, it’s increasingly important that formulators understand consumer preferences while ensuring they avoid infringing on any existing intellectual property restrictions. In fact, as novel formulations are broadly patentable, they may present an opportunity for organizations to claim intellectual property in a busy space, giving companies a competitive edge.
For example, fragrance formulation plays a huge role in the rapidly evolving consumer demand for cosmetic products. The cosmetics industry has possibly seen the greatest impact from growing consumer preference for natural products. Formulating with natural products serves the consumer market and also provides companies with an option to explore patenting to ensure intellectual property protection for their innovations.
The shelves of any hardware or garden store will reveal an array of pesticides and herbicides. In the agrochemical sector, formulation technology is considered to be a significant value add because of its benefits to pesticide products, including application safety and the amount required for application. The primary objectives are to optimize the biological activity of the pesticide and to produce a safe, convenient and cost-effective product.
Additionally, the pharmaceutical industry demonstrates how formulators can help organizations obtain a return on investment. Drug development is a particularly risk-prone venture with only 12% of drugs that make it to clinical trials gaining regulatory approval. Formulators play a key role in securing approval and then ensuring the drug can be manufactured on a large-scale.
Let’s consider the key components that go into a therapeutic formulation: the active ingredient, colors, binders and many other ingredients that increase safety or efficacy of the drug while making it accessible to patients. By identifying the best preparation, formulators can drastically increase the chances of the drug successfully getting to market, and in doing so, help attain a return on the $2.6 billion investment it is estimated to take.
Given the commercial value the formulating phase can add to a product, is it time we started focusing more on formulations throughout the life cycles of our goods?
Formulations enhance many aspects of daily life, benefiting society as a whole
By developing and improving products, formulators also have an immeasurable impact on many aspects of day-to-day living, which can help further drive the success of your business. Here, we explore how formulations play a role in daily life and offer a snapshot of their wide-ranging impact across different sectors.
The consumer goods market is vast. In the U.S. alone, the sector is thought to be worth $635 billion USD. However, buyer preferences can rapidly evolve, forcing formulators to respond quickly to market trends and geographic preferences. Product fragrance preferences are just one factor that changes over time and with geography. As a result, formulators are constantly exploring how to encapsulate fragrances to preserve their endurance and extend shelf life. Given olfaction is strongly linked to emotional recollection, it’s important that companies stay at the forefront of consumer preferences in this area.
Age and demographics of patients are key considerations for designing drug delivery methods. By administering medicine in a liquid form, the challenges with young patients swallowing pills can be avoided. Palatable and liquid formulations aid patient compliance while avoiding cavities and other issues associated with sugary excipients. Reformulating existing products provides an opportunity for continued success with a proven active ingredient and for reinvigorating existing products. Long‐acting formulations for pain relief provide more consistent pain control with less breakthrough pain and may reduce the need for additional medication administration.
Weed management is a key factor in food production and in managing food costs. Herbicide formulations continue to evolve to effectively manage weeds while also balancing the amount of herbicide needed to do so. In fact, formulators have played a key role in helping to provide a solution to the competing demands of increased food supply and environmental sustainability with microbial-based fertilizer formulations.
Supporting formulators to expedite product development
Formulators touch almost every aspect of our daily lives by responding to consumer demands and bringing creative innovations to market. Formulating represents a crucial step in the product development workflow, and with its wide-ranging impact across multiple sectors, innovations in this area benefit your business and consumers alike.
Designing novel preparations is challenging for formulators! Many factors must be considered, resulting in a significant amount of research needed. Therefore, investing in solutions that can expedite and support the success of the formulators’ work could have a substantive impact on the overall innovation’s success and its speed to market.
How is CAS helping to expedite the work of formulators across many industries worldwide? Learn about Formulus, a new solution aimed at getting innovations to market faster by addressing the unique information needs of formulation scientists.