Feb 27, 2023
English - UK
Pramod Pawar
The best new therapeutic entity is useless if it doesn't have the right delivery system. There are many forms of medicine available today, including oral liquids, tablets, capsules and topical creams and gels, transdermal patches and injectable products as well as nasal products, eye products, and nasal products. These substances are called pharmaceutical excipients. They are not used for direct therapeutic action but are used to aid the production process, protect, support, or enhance stability or bioavailability.
The global pharmaceutical excipients market is expected to reach USD 11.8 billion by 2032, up from USD 6.6 billion in 2022. This growth rate CAGR of 5.8% is forecast for the period 2022-2032.
A pharmaceutical excipient can be a synthetic or natural substance that contains the active ingredient in a medication. It is added to a pharmaceutical dosage form to help with manufacturing to improve stability, bioavailability, and patient acceptance, or protect, support, and increase stability. They can also be called bulking agents, fillers, and diluents. They are useful in product identification and can improve the safety and functionality of the product when stored or used.
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North America: North America is the leading market for pharmaceutical excipients due to its well-established pharmaceutical industry and large patient population.
Europe: Europe is a major market for pharmaceutical excipients, with countries like Germany, France, and the UK leading the pack. Thanks to its supportive regulatory framework for pharmaceutical manufacturing, this region has fostered the production of high-quality excipients.
Asia-Pacific: The Asia-Pacific region is expected to experience tremendous growth over the coming years due to increasing demand for pharmaceuticals, increased healthcare investments, and rising disposable incomes. Countries such as China and India are key markets in this region with large populations and impressive pharmaceutical production capacities.
Latin America: Latin America is a rapidly developing market for pharmaceutical excipients, with countries such as Brazil and Mexico showing great promise. The region's large and rapidly increasing population is driving demand for pharmaceuticals.
Middle East and Africa: Although the Middle East and Africa region is a smaller market for pharmaceutical excipients than other regions in the world, it is expected to expand over the coming years due to increased investments in healthcare infrastructure as well as increasing demand for medications within this region.
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Increase in Generic Drug Production and Uses
The National Center for Biotechnology Information (NCBI) and the U.S. Food and Drug Administration (FDA) defines a generic drug as a medication that has been produced to resemble an authorized brand-name medication in terms of dosage form, safety, strength, route of administration, quality, and performance. The cost savings linked to using common drugs are not immediately evident when the drug's patent expires. The price of a generic drug is typically 60–70% less expensive than that of a brand-name drug two–three years after the loss of exclusivity.
Generic drugs, like brand-name drugs, need competition in the generic drug market before costs may be reduced. These generic medications will save a lot of money, which can be applied to other health issues, given that India has the greatest per capita spending. The use of generic medications has dramatically expanded nationwide in recent years. One of the main factors anticipated to fuel the expansion of the pharmaceutical sector is the availability of affordable alternatives to name-brand medications. The near future of the generic medication industry.
Excipient demand increasing
Excipients for pharmaceutical dosage forms are chemicals that can be included in such dosage forms but are not intended for therapeutic use. They contribute to the facilitation of stability's creation, defense, support, or enhancement. The burgeoning international pharmaceutical market now includes fewer excipients. An increase in excipients has been brought on by a growth in the demand for generic medications. In addition, chronic diseases have become more prevalent
Increased regulatory stringency regarding the approval of drugs and excipients
The rules for generic drug approval are generally the same in all countries, with very little variation in developing countries. To obtain generic drug approval, he does not need to undergo a bioequivalence study (BE) in this region. Medical experts agree that governments must ensure consistency in the quality of all generic drugs.
Doctors will only be able to prescribe generic drugs confidently and happily if they are consistent in quality. The lack of strict regulations regarding generic drugs and impurities has been a major reason why doctors (and patients) aren't confident in prescribing generic drugs.
Regulators and drug manufacturers now consider it a top priority to control the production and distribution of excipients. Mixing excipients can lead to adverse patient outcomes. In vivo activity has made it more important to control the supply and quality of pharmaceutical excipients due to the development of new excipients. Excipient suppliers must meet the quality standards of the pharmaceutical industry.
This is because of the critical role excipients play in pharmaceutical dosage forms. The pharmaceutical industry must also work to ensure product safety. The integrity of storage and use in the supply chain. The increasing regulatory strictness regarding drug approval and excipients will likely limit the growth of the global pharmaceutical excipients industry.
Market Participants Take Strategic Actions
As the pharmaceutical excipients sector expands rapidly, strategic business ideas have never been more important. This includes joint ventures and company expansion. To meet the increasing demand for pharmaceutical excipients, businesses are constructing new manufacturing facilities.
The pharmaceutical excipients market will experience growth due to strategic initiatives taken by major industry players, such as product launches, acquisitions, partnerships, and business expansions. These initiatives present new prospects for global players in this space.
Negative Effects
Pharmaceutical excipients used in medicine formulations can have unintended adverse effects, which are rare but still possible. Some pharmaceutical excipients like Parabens, Propyl Para-hydroxybenzoate (Parabens), Benzyl Alcohol and Sodium Benzoate have been linked to side effects.
Report Attribute | Details |
The market size value in 2022 | USD 06.08 Bn |
Revenue forecast by 2032 | USD 11.08 Bn |
Growth Rate | CAGR Of 05.08% |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World |
Historical Years | 2017-2022 |
Base Year | 2022 |
Estimated Year | 2023 |
Short-Term Projection Year | 2028 |
Long-Term Projected Year | 2032 |
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What are pharmaceutical excipients?
Pharmaceutical excipients are substances that are added to medications for various purposes such as improving stability, solubility, and bioavailability, as well as enhancing taste and appearance.
What is the size of the global pharmaceutical excipients market?
The global pharmaceutical excipients market is expected to reach USD 11.8 billion by 2032, up from USD 6.6 billion in 2022. This growth rate of 5.8% is forecast for the period 2022-2032.
What are the major types of pharmaceutical excipients?
The major types of pharmaceutical excipients include Inorganic Chemicals and Organic Chemicals.
Who are the key players in the pharmaceutical excipients market?
The key players in the pharmaceutical excipients market include Ashland Global Holdings, BASF SE, DuPont, Roquette Feres, Evonik Industries AG, Associated British Foods, Archer Daniels Midland Company, Lubrizol Corporation, Kerry Group, Croda International PLC, Roquette Frères, FMC Corporation, Other Key Players
Which region is the largest market for pharmaceutical excipients?
North America is the largest market for pharmaceutical excipients, followed by Europe and the Asia-Pacific region. However, the Asia-Pacific region is expected to witness significant growth in the coming years.
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