Growing Need for Enhanced Drug Delivery to propel the growth of the global Biopharmaceutical Excipients Market
Biopharmaceuticals are becoming a lucrative and significant component of the healthcare sector owing to the growing demand for biologics. Biopharmaceutical excipient plays a vital role and is been precisely evaluated for safety and are with intent incorporated in a drug (biologic) delivery system. The right choice of biopharmaceutical excipient helps to maintain the stability of biologically active ingredients.
The global biopharmaceutical excipients market is majorly spurred by the increase in demand for vaccines owing to the rapid spread of coronavirus. Millions of people across the world were infected with the Covid-19. To overcome the huge burden of the disease, major biopharmaceuticals supported by government initiatives & funds initiated the development of the Covid-19 vaccines. The sky-touching demand for the vaccine in the pandemic period exponentially boosted the demand for biopharmaceutical excipients which in turn is propelling the growth of the global market. In addition to this, growing research on biologics including monoclonal bodies, immunomodulators, antiviral, interferons, and many more for the development of innovative therapies is triggering the biopharmaceutical excipient demand. In addition to this, increasing acceptance of multi-functional biopharmaceutical excipients, growing prevalence of chronic diseases, and heavy investment in the development of biosimilars are also some of the important factors that are boosting the overall growth of the market. Furthermore, an increase in penetration of artificial intelligence in drug discovery and fast track approvals for lethal diseases may generate beneficial opportunities for the growth of the global market over the forecast period.
The global biopharmaceutical excipients market is divided based on product and region. Based on the product, the global market is split into solubilizers & surfactants/emulsifiers, specialty excipients, carbohydrates, and polyols. Among these, the carbohydrates segment is anticipated to lead the global market owing to its increase in use as bulking agents in the lyophilization process.
North America is estimated to hold the largest share in the global biopharmaceutical excipients market during the forecast period. This is attributed to the growing investment in R&D activities for the development of innovative therapies and escalated process for the development of Covid-19 vaccine. For instance, in February 2021, Albany Molecular Research announced that it will develop and manufacture lipid excipients for the Pfizer-BioNTech COVID-19 vaccine. Europe is also expected to contribute a significant share in the market growth owing to new biopharmaceutical launches from the major players. In April 2021, German-based pharmaceutical excipient solutions company, DFE Pharma announced the launch of BioHale®, a new biopharma excipient solution for use in formulation.
Some of the key players operating in the global biopharmaceutical excipients market are Merck KGaA, Sigachi Industries Limited, Signet Excipients Pvt. Ltd (IMCD), BASF SE, Colorcon, DFE Pharma, Clariant, Roquette Frères, Evonik Industries AG, and J. RETTENMAIER & SÖHNE GmbH + Co KG, among others.
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