Pharmaceutical Excipients Market - Emerging Trend to Feed the Revenue Surge

Posted by MV Mukund on May 20th, 2022

Growth Boosting Dynamics:

Increasing uptake of biopharmaceutical drugs is expected to drive the pharmaceutical excipients 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.

Expected Surge in 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.

Global Industry Segmentation:

Based on product, the pharmaceutical excipients market is segmented into three major categories—organic chemicals, inorganic chemicals, and other chemicals. Organic chemicals segment is expected to dominate the pharmaceutical excipients market in 2021. The overall demand for organic chemicals in the pharmaceutical industry has increased over the last few years owing to their proven efficacy in the oral delivery of poorly soluble molecules. The increased demand for environment-friendly excipients, coupled with regulatory support, is further expected to propel the demand for organic chemicals as excipients in the pharmaceutical industry.

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Based on functionality, pharmaceutical excipients are categorized into fillers & diluents, binders, suspending & viscosity agents, flavouring agents & sweeteners, coating agents, colorants, disintegrants, lubricants & glidants, preservatives, emulsifying agents, and other functionalities. The fillers and diluents market is expected to grow due to the rising use of fillers and diluents in developing and producing solid oral drugs. Tablets are the most popular forms of dosage due to their advantages to both manufacturers and patients. From the manufacturer’s perspective, fillers and diluents offer stability, ease in preparation, packaging, shipping, and dispensing; for patients, they improve the taste of the formulation and provide ease of administration and handling thereby, fostering the segmental growth.

Based on the formulation, the pharmaceutical excipients market is segmented into oral, topical, parenteral, and other formulations. Oral formulations dominate this market due to their wide usage and efficacy against many ailments. In 2020, oral formulations accounted for the major share of the pharmaceutical excipients market, mainly because oral formulations are the most common drug delivery route.

Geographical Growth Dynamics:

The European pharmaceutical excipients market accounted for the larger market share in 2020. The large share of this market segment can be characterized by the presence of a number of pharmaceutical giants with large production capacities leading to a high consumption of excipients. The growing emphasis on superior pharmaceutical products, generics, and biosimilars has also led to the increase in the demand for novel excipients, which, in turn, is expected to drive the market growth in this region in the coming years.

Key Players:

The prominent players in this market are DuPont (US), Colorcon Inc. (US), BASF SE (Germany), Evonik Industries AG (Germany), Ashland Global Holdings Inc. (US), Kerry Group plc (Ireland), Roquette Freres (France), Eastman Chemical Company (US), Air Liquide S.A. (France), and Merck KGaA (Germany).

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MV Mukund

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MV Mukund
Joined: March 18th, 2020
Articles Posted: 77

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