Pharmaceutical Excipients Market - Emerging Major Tech Innovations After COVID19

Posted by MV Mukund on May 11th, 2022

Increasing uptake of biopharmaceutical drugs is expected to drive the market growth. Biopharmaceuticals are gradually becoming popular in the healthcare industry due to their similarity to natural biological compounds found in the human body; thus, they offer high efficacy and fewer side-effects.

They form one of the fastest-growing segments of the pharmaceutical industry. Novel concepts like cell therapy (for cancer treatment) and gene therapy (offering regenerative medicine) are steadily being refined. This presents an attractive opportunity for further growth in this sector.

COVID-19 Impact on Global Pharmaceutical Excipients Market

Covid-19 had a substantial impact on the pharmaceutical industry. Lockdowns that were imposed during the virus outbreak disrupted the supply chain for various pharmaceutical companies. These pharmaceutical drug manufacturing companies experienced shortage of raw materials such as excipients and APIs that further created a demand supply gap of drugs in the market. Additionally, regulatory authorities had to construct new laws to ensure maximum patient safety after drug consumption.

The end of the lockdowns saw the pharma industry gaining momentum, especially given the demand for drugs such as hydroxychloroquine and Remdesivir, which showed positive results against COVID-19. The increasing demand for these drugs drove revenue growth for some companies. The above mentioned factors suggest that the Covid-19 impact on the pharmaceutical excipients market is negligible as it is the starting material in manufacturing of pharmaceutical drugs.

Projected Growth in the Revenue:

The pharmaceutical excipients market is projected to reach USD 10.6 billion by 2026 from USD 7.9 billion in 2021, at a CAGR of 5.8% during the forecast period.

Major Growth Influencing Factors:

The overall growth of the pharmaceutical excipients market is largely driven by the growing pharmaceuticals market, advancements in functional excipients, and the growing generics market. The rapidly growing biopharmaceuticals sector will also influence market growth for pharmaceutical excipients. However, the increasing regulatory stringency regarding the approval of drugs and excipients along with the cost and time-intensive drug development process are expected to restrain the growth of this market during the forecast period.

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Opportunity: Emerging countries represent a great opportunity when it comes to pharmaceutical industry

Growth of pharmaceuticals industry has been restricted since a past few years due to government-induced pressure on reducing healthcare costs and the diminishing drug pipeline. This has encouraged the pharmaceutical manufacturing companies to expand their manufacturing bases in high-growth emerging markets. Manufacturers can leverage financial benefits such as low-cost of manufacturing in terms of attractive tax rates and lenient regulatory guidelines.

Challenge:  Safety and quality concerns

With the current changes in government policies all over the world, upcoming trade policies could prove to be a challenge for the pharmaceutical industry, and in turn, the excipients industry. Trade between the developing countries who are considered to be pharmerging countries such as China, India, and Brazil and developed countries like the US and European countries, who are top markets in the industry, could be severely affected.

BREXIT is another pressing issue in this market. The possibility of fallout originating from Britain’s exit from the EU has led companies to consider shifting—or shift—their manufacturing from the UK to Germany, France, and other European countries. Although the effects of BREXIT on the pharmaceutical industry are still unclear, companies like Novartis, Astra Zeneca, and Roche have already shifted manufacturing sites in order to reduce any further risks.

Recent Developments in the Global Pharmaceutical Excipients Market:

# In 2020, Colorcon launched the Acryl-EZE II film coating line which extends the pH range covered by its enteric coatings.

# In 2020, Evonik launched the EUDRATEC Fasteric releases, an advanced oral drug delivery technology that provides enteric protection followed by rapid, homogeneous release for effective targeting of the upper small intestine.

# In 2018, Roquette (France) signed an agreement with Thermo Fisher. Roquette signed an agreement with ThermoFisher Scientific (US), which gives Thermo the right to distribute Roquette’s products in the US and Canada. This will provide further market access to Roquette.

# In 2019, Ashland announced the launch of Aquarius Nutra TF, which provides titanium oxide-based coating to tablets in the European market.

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MV Mukund

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MV Mukund
Joined: March 18th, 2020
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