Feb 27, 2023

English - UK

Pramod Pawar

Pharmaceutical Excipients Market is to be Worth USD 11.08 Bn by 2032 | CAGR of 5.8%

Market Overview

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.

Key Takeaways

  • Pharmaceutical excipients are substances added to medications for various purposes such as improving stability, solubility, and bioavailability, in addition to improving taste and appearance.
  • The global pharmaceutical excipients market is projected to experience a compound annual growth rate (CAGR) of around 6% between 2021 and 2026, driven by factors such as rising demand for generic drugs, an expanding pharmaceutical industry in emerging economies, and rising adoption of novel drug delivery technologies.
  • Pharmaceutical excipients often include binders, fillers, disintegrants, lubricants, and coatings.
  • The demand for natural and organic excipients is growing as consumers become more aware of the potential health hazards associated with synthetic ingredients.
  • Geographically, North America and Europe are the primary markets for pharmaceutical excipients. On the other hand, Asia-Pacific is expected to experience significant growth over the coming years due to increasing demand for pharmaceuticals as well as rising investments in healthcare sectors in countries like China and India.

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Regional Snapshot

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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Market Dynamics

Drivers

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

Restraints

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.

Opportunities

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.

Challenges

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.

Recent Developments

  • Colorcon's Acryl-EZE II film coating range was launched in 2020. It extends the pH range of its enteric coatings.
  • Aquarius Nutra TF, a titanium oxide-based coating for tablets on the European market, has been introduced by Ashland in 2019.
  • Roquette signed an agreement in 2018 with Thermo Fisher allowing Thermo to distribute Roquette products in the USA and Canada. Roquette will have further market access.

Market Segmentation

By Product Type

  • Inorganic Chemical
  • Organic Chemicals

By Formulation Type

  • Capsules Formulation
  • Tablets Formulation
  • Liquid Formulation
  • Parenteral Formulation
  • Oral Formulation
  • Other Formulations

By Functionality Type

  • Fillers & Diluents
  • Suspending and Viscosity Agent
  • Binders
  • Flavoring Agents and Sweeteners
  • Preservatives
  • Coating Agents
  • Other Functionality Types

 Маrkеt Kеу Рlауеrѕ:

  • 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

Market Report Scope

Report AttributeDetails
The market size value in 2022USD 06.08 Bn
Revenue forecast by 2032USD 11.08 Bn
Growth RateCAGR Of 05.08%
Regions CoveredNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World
Historical Years2017-2022
Base Year2022
Estimated Year2023
Short-Term Projection Year2028
Long-Term Projected Year2032

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Key questions

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.

For more information, please contact:

Author

Prudour Private Limited



Email:

Pramod@market.biz

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