Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027
Date: May-2021 | Id: MACRC-69112 | Geographical Scope: Global | Publisher: Mnemonics Research
The global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) market is expected to reach US$ XX Million by 2027, with a CAGR of XX% from 2020 to 2027, based on Mnemonics Research newly published report. The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America). By Market Verdors: FMC BLANVER Asahi Kasei JRS Sigachi Mingtai Huzhou Zhanwang Pharmaceutical Wei Ming Pharmaceutical Accent Microcell Anhui Sunhere Pharmaceutical QuFuShi Medical Shandong Xinda Linghu Xinwang Chemical Ehua Pharmaceutical Aoda Pharmaceutical Shandong Guangda Qufu Tianli Jining Six Best Excipients By Types: Wood Pulp Based Refined Cotton Based By Applications: OSDF (Oral Solid Dosage Form) Capsules Other Key Indicators Analysed Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors. Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications. Market Trends: Market key trends which include Increased Competition and Continuous Innovations. Opportunities and <b>Drivers:</b> Identifying the Growing Demands and New Technology Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry. Key Reasons to Purchase To gain insightful analyses of the market and have comprehensive understanding of the global market and its commercial landscape. Assess the production processes, major issues, and solutions to mitigate the development risk. To understand the most affecting driving and restraining forces in the market and its impact in the global market. Learn about the market strategies that are being adopted by leading respective organizations. To understand the future outlook and prospects for the market. Besides the standard structure reports, we also provide custom research according to specific requirements.
1 Report Overview 1.1 Study Scope and Definition 1.2 Research Methodology 1.2.1 Methodology/Research Approach 1.2.2 Data Source 1.3 Key Market Segments 1.4 Players Covered: Ranking by Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Revenue 1.5 Market Analysis by Type 1.5.1 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size Growth Rate by Type: 2021 VS 2027 1.5.2 Wood Pulp Based 1.5.3 Refined Cotton Based 1.6 Market by Application 1.6.1 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Share by Application: 2022-2027 1.6.2 OSDF (Oral Solid Dosage Form) 1.6.3 Capsules 1.6.4 Other 1.7 Coronavirus Disease 2019 (Covid-19) Impact Will Have a Severe Impact on Global Growth 1.7.1 Covid-19 Impact: Global GDP Growth, 2019, 2021 and 2022 Projections 1.7.2 Covid-19 Impact: Commodity Prices Indices 1.7.3 Covid-19 Impact: Global Major Government Policy 1.8 Study Objectives 1.9 Years Considered 2 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Trends and Growth Strategy 2.1 Market Top Trends 2.2 Market Drivers 2.3 Market Challenges 2.4 Porter’s Five Forces Analysis 2.5 Market Growth Strategy 2.6 SWOT Analysis 3 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Players Profiles 3.1 FMC 3.1.1 FMC Company Profile 3.1.2 FMC Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.1.3 FMC Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.2 BLANVER 3.2.1 BLANVER Company Profile 3.2.2 BLANVER Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.2.3 BLANVER Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.3 Asahi Kasei 3.3.1 Asahi Kasei Company Profile 3.3.2 Asahi Kasei Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.3.3 Asahi Kasei Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.4 JRS 3.4.1 JRS Company Profile 3.4.2 JRS Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.4.3 JRS Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.5 Sigachi 3.5.1 Sigachi Company Profile 3.5.2 Sigachi Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.5.3 Sigachi Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.6 Mingtai 3.6.1 Mingtai Company Profile 3.6.2 Mingtai Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.6.3 Mingtai Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.7 Huzhou Zhanwang Pharmaceutical 3.7.1 Huzhou Zhanwang Pharmaceutical Company Profile 3.7.2 Huzhou Zhanwang Pharmaceutical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.7.3 Huzhou Zhanwang Pharmaceutical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.8 Wei Ming Pharmaceutical 3.8.1 Wei Ming Pharmaceutical Company Profile 3.8.2 Wei Ming Pharmaceutical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.8.3 Wei Ming Pharmaceutical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.9 Accent Microcell 3.9.1 Accent Microcell Company Profile 3.9.2 Accent Microcell Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.9.3 Accent Microcell Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.10 Anhui Sunhere Pharmaceutical 3.10.1 Anhui Sunhere Pharmaceutical Company Profile 3.10.2 Anhui Sunhere Pharmaceutical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.10.3 Anhui Sunhere Pharmaceutical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.11 QuFuShi Medical 3.11.1 QuFuShi Medical Company Profile 3.11.2 QuFuShi Medical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.11.3 QuFuShi Medical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.12 Shandong Xinda 3.12.1 Shandong Xinda Company Profile 3.12.2 Shandong Xinda Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.12.3 Shandong Xinda Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.13 Linghu Xinwang Chemical 3.13.1 Linghu Xinwang Chemical Company Profile 3.13.2 Linghu Xinwang Chemical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.13.3 Linghu Xinwang Chemical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.14 Ehua Pharmaceutical 3.14.1 Ehua Pharmaceutical Company Profile 3.14.2 Ehua Pharmaceutical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.14.3 Ehua Pharmaceutical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.15 Aoda Pharmaceutical 3.15.1 Aoda Pharmaceutical Company Profile 3.15.2 Aoda Pharmaceutical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.15.3 Aoda Pharmaceutical Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.16 Shandong Guangda 3.16.1 Shandong Guangda Company Profile 3.16.2 Shandong Guangda Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.16.3 Shandong Guangda Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.17 Qufu Tianli 3.17.1 Qufu Tianli Company Profile 3.17.2 Qufu Tianli Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.17.3 Qufu Tianli Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 3.18 Jining Six Best Excipients 3.18.1 Jining Six Best Excipients Company Profile 3.18.2 Jining Six Best Excipients Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Product Specification 3.18.3 Jining Six Best Excipients Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity, Revenue, Price and Gross Margin (2016-2021) 4 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Competition by Market Players 4.1 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Capacity Market Share by Market Players (2016-2021) 4.2 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Revenue Market Share by Market Players (2016-2021) 4.3 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Average Price by Market Players (2016-2021) 5 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production by Regions (2016-2021) 5.1 North America 5.1.1 North America Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size (2016-2021) 5.1.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Players in North America (2016-2021) 5.1.3 North America Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Type (2016-2021) 5.1.4 North America Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Application (2016-2021) 5.2 East Asia 5.2.1 East Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size (2016-2021) 5.2.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Players in East Asia (2016-2021) 5.2.3 East Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Type (2016-2021) 5.2.4 East Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Application (2016-2021) 5.3 Europe 5.3.1 Europe Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size (2016-2021) 5.3.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Players in Europe (2016-2021) 5.3.3 Europe Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Type (2016-2021) 5.3.4 Europe Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Application (2016-2021) 5.4 South Asia 5.4.1 South Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size (2016-2021) 5.4.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Players in South Asia (2016-2021) 5.4.3 South Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Type (2016-2021) 5.4.4 South Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Application (2016-2021) 5.5 Southeast Asia 5.5.1 Southeast Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size (2016-2021) 5.5.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Players in Southeast Asia (2016-2021) 5.5.3 Southeast Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Type (2016-2021) 5.5.4 Southeast Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Application (2016-2021) 5.6 Middle East 5.6.1 Middle East Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size (2016-2021) 5.6.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Players in Middle East (2016-2021) 5.6.3 Middle East Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Type (2016-2021) 5.6.4 Middle East Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Application (2016-2021) 5.7 Africa 5.7.1 Africa Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size (2016-2021) 5.7.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Players in Africa (2016-2021) 5.7.3 Africa Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Type (2016-2021) 5.7.4 Africa Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Application (2016-2021) 5.8 Oceania 5.8.1 Oceania Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size (2016-2021) 5.8.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Players in Oceania (2016-2021) 5.8.3 Oceania Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Type (2016-2021) 5.8.4 Oceania Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Application (2016-2021) 5.9 South America 5.9.1 South America Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size (2016-2021) 5.9.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Players in South America (2016-2021) 5.9.3 South America Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Type (2016-2021) 5.9.4 South America Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Application (2016-2021) 5.10 Rest of the World 5.10.1 Rest of the World Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size (2016-2021) 5.10.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Players in Rest of the World (2016-2021) 5.10.3 Rest of the World Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Type (2016-2021) 5.10.4 Rest of the World Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Market Size by Application (2016-2021) 6 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Region (2016-2021) 6.1 North America 6.1.1 North America Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Countries 6.1.2 United States 6.1.3 Canada 6.1.4 Mexico 6.2 East Asia 6.2.1 East Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Countries 6.2.2 China 6.2.3 Japan 6.2.4 South Korea 6.3 Europe 6.3.1 Europe Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Countries 6.3.2 Germany 6.3.3 United Kingdom 6.3.4 France 6.3.5 Italy 6.3.6 Russia 6.3.7 Spain 6.3.8 Netherlands 6.3.9 Switzerland 6.3.10 Poland 6.4 South Asia 6.4.1 South Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Countries 6.4.2 India 6.5 Southeast Asia 6.5.1 Southeast Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Countries 6.5.2 Indonesia 6.5.3 Thailand 6.5.4 Singapore 6.5.5 Malaysia 6.5.6 Philippines 6.6 Middle East 6.6.1 Middle East Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Countries 6.6.2 Turkey 6.6.3 Saudi Arabia 6.6.4 Iran 6.6.5 United Arab Emirates 6.7 Africa 6.7.1 Africa Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Countries 6.7.2 Nigeria 6.7.3 South Africa 6.8 Oceania 6.8.1 Oceania Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Countries 6.8.2 Australia 6.9 South America 6.9.1 South America Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Countries 6.9.2 Brazil 6.9.3 Argentina 6.10 Rest of the World 6.10.1 Rest of the World Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Countries 7 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production Forecast by Regions (2022-2027) 7.1 Global Forecasted Production of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) (2022-2027) 7.2 Global Forecasted Revenue of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) (2022-2027) 7.3 Global Forecasted Price of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) (2022-2027) 7.4 Global Forecasted Production of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Region (2022-2027) 7.4.1 North America Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production, Revenue Forecast (2022-2027) 7.4.2 East Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production, Revenue Forecast (2022-2027) 7.4.3 Europe Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production, Revenue Forecast (2022-2027) 7.4.4 South Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production, Revenue Forecast (2022-2027) 7.4.5 Southeast Asia Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production, Revenue Forecast (2022-2027) 7.4.6 Middle East Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production, Revenue Forecast (2022-2027) 7.4.7 Africa Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production, Revenue Forecast (2022-2027) 7.4.8 Oceania Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production, Revenue Forecast (2022-2027) 7.4.9 South America Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production, Revenue Forecast (2022-2027) 7.4.10 Rest of the World Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Production, Revenue Forecast (2022-2027) 7.5 Forecast by Type and by Application (2022-2027) 7.5.1 Global Sales Volume, Sales Revenue and Sales Price Forecast by Type (2022-2027) 7.5.2 Global Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Application (2022-2027) 8 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption Forecast by Regions (2022-2027) 8.1 North America Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Country 8.2 East Asia Market Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Country 8.3 Europe Market Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Countriy 8.4 South Asia Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Country 8.5 Southeast Asia Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Country 8.6 Middle East Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Country 8.7 Africa Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Country 8.8 Oceania Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Country 8.9 South America Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Country 8.10 Rest of the world Forecasted Consumption of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) by Country 9 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Sales by Type (2016-2027) 9.1 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Historic Market Size by Type (2016-2021) 9.2 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Forecasted Market Size by Type (2022-2027) 10 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Consumption by Application (2016-2027) 10.1 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Historic Market Size by Application (2016-2021) 10.2 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Forecasted Market Size by Application (2022-2027) 11 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Manufacturing Cost Analysis 11.1 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Key Raw Materials Analysis 11.1.1 Key Raw Materials 11.2 Proportion of Manufacturing Cost Structure 11.3 Manufacturing Process Analysis of Pharmaceutical Grade Micro Crystalline Cellulose (MCC) 12 Global Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Marketing Channel, Distributors, Customers and Supply Chain 12.1 Marketing Channel 12.2 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Distributors List 12.3 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Customers 12.4 Pharmaceutical Grade Micro Crystalline Cellulose (MCC) Supply Chain Analysis 13 Analyst's Viewpoints/Conclusions 14 Disclaimer