Pharmaceutical Excipients Market Insights, Key Players, Research Overview and Size Estimation To 2027
Pharmaceutical Excipients Market Highlights
According
to a new report by market Research Future (MRFR), the global market for Pharmaceutical excipients is
projected to showcase a significant growth rate over the forecast period
(2016-2027). Pharmaceuticals are important components of a formulation that
offers effective drug absorption. Excipients must comply with the regulatory
requirements and must suit the intended dosage form. The compatibility is crucial
in dosage forms that incorporate coating, controlled and sustained release, oil
base (emulsifiers), and taste masking.
Excipients
used in the manufacturing of drug serve as binders, disintegrants, glidants, or
diluents. Therefore, multifunctional excipients can reduce the manufacturing
cost and drug development of the product.
Drivers and Restraints
Owing
to the patent expiries, the market has witnessed a robust growth rate in the
recent times. Moreover, with the large patient population base and growing
demand for pharmaceutical products will propel the growth of the market
globally. Factors like increasing chronic diseases, growing generics market
owing to patent cliffs, advancement in the development of functional excipient,
rapid growth of biopharmaceuticals, growing biosimilar industry, and emergence
of co-processed and multifunctional excipients are the major factors fuelling
the market growth.
Meanwhile,
strict mandates like inspection of manufacturing sites by regulatory
authorities such as MHRA, FDA, and TGA has affected the supply of global
pharmaceutical excipients. Lack of separate guidelines for approval and
manufacturing of excipients is impending R&D initiatives related to
excipients. If a new drug approval fails, the excipient also fails even if it
is not related to the excipient. The clinical data from that particular
excipient cannot be used. Moreover, the timeframe and cost required to develop
excipients are uneconomical for the manufacturers, thus limiting the scope for
getting an excipient approved.
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Global Pharmaceuticals Excipients Market
Segmentation
The
global market for pharmaceuticals excipients can be segmented on the basis of
product, functions, applications, and region.
The
market has been segmented into organic and inorganic chemicals based on
product.
The
market has been segmented into glidants, lubricants, fillers, coatings,
preservatives, disintegrants, binders, and others on the based on functions.
Fillers have been accounted to hold the largest market share. They provide ease
of administration and improve the taste of
the
formulation. They also offer ease in preparation, stability, shipping,
packaging, and dispensing of drugs.
The
market for pharmaceuticals excipients has also been segmented into parenteral,
oral, topical, and advanced delivery system based on applications. Oral and
topical dosage forms are anticipated to drive the pharmaceuticals excipients
market growth. Consumption of excipients is witnessed to be high in oral dosage
forms like capsules, tablets, and liquids, compared to parenteral. Local
players mark their entry in pharmaceuticals with oral dosage forms as they are
easier to manufacture. Also, with increasing topical solutions such as gel,
cream, skin patch, and eye drops in pain management and dermatology, demand for
excipients is also expected to grow at a steady pace.
Global Pharmaceuticals Excipients Market
Regional Analysis
North
America has been anticipated to hold the largest market share and is expected
to grow over the forecast period. The major factor for growth in this region is
due to the presence of European Medicines Agency’s scientific guidelines on
excipients.
North
America is followed by Europe due to the presence of large companies such as
FMC Corporation and Avantor Performance Materials Inc. who are direct
manufacturers. This region is expected to showcase a significant growth owing
to the ongoing case studies based on drug-excipient interactions to increase
delivery efficacy and efficiency.
Due to
the high volume of unmet medical requirement and expanding generic market, Asia
Pacific along with Middle East and Africa are anticipated to grow at a faster
pace. Moreover, these regions are a good source of raw materials and enable
low-cost manufacturing process for excipients.
Industry Developments
The Dow
Chemical Company has introduced AMBERLITE™ resins that have shown to be an effective
and safe excipient and can be found in several commercial drug formulation used
across the world. These resins can be used for several types of oral dosage
forms which includes solids such as capsules, tablets, and liquid suspensions.
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