The market is estimated to grow at a CAGR of 5.5% from 2020 to 2027.
According to The Insight Partners market research study titled “Pharmaceutical Excipients Market to 2027 – COVID-19 Impact and Global Analysis – by Product, Functionality, and Type of Formulation,” the global pharmaceutical excipients market is expected to reach US$ 9,873.53 million by 2027 from US$ 6,521.74 million in 2019. The market is estimated to grow at a CAGR of 5.5% from 2020 to 2027. The report highlights the trends prevalent in the global pharmaceutical excipients market and the factors driving the market along with those that act as deterrents to its growth.
Pharmaceutical excipients are used in the form of a pharmaceutical dosage, not for their direct therapeutic action, but for the production process, protecting, supporting or enhancing stability, or for bioavailability or acceptability of patients. They also assist in the identification of products and improve the overall safety or function of the product during its storage or use.
The scope of the pharmaceutical excipients market includes product, functionality, type of formulation, and geography. The pharmaceutical excipients market is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The report offers insights and in-depth analysis of the pharmaceutical excipients market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world
Get sample PDF Pages on Pharmaceutical Excipients Market Study at: https://www.theinsightpartners.com/sample/TIPRE00003534/
Pharmaceutical Excipients Market: Competition Landscape and Key Developments
DuPont de Nemours, Inc.; Roquette Frères; Ashland Global Holdings, Inc.; BASF SE; Evonik Industries AG; Associated British Foods Plc; Archer Daniels Midland Company; Lubrizol Corporation; Croda International Plc; and DFE Pharma are among the prominent players operating in pharmaceutical excipients market.
The market players are focused toward bringing new and innovative products and services to sustain their position in the market. For instance, in June, 2020, Evonik launched RESOMER Precise platform of custom functional excipients to precisely control the release profile of parenteral drug products. Such developments are expected to help the market growth during the forecast period.
Growth of the Pharmaceutical Market Backed By Multi-Functional Excipients
Multifunctional excipient refers to excipients playing several roles in a dosage type or a drug delivery method. Several APIs (Active Pharmaceutical Ingredients) demonstrate low dissolution rates and poor solubility in aqueous condition. Oral bioavailability of these compounds is low due to poor solubility. In order to increase the bioavailability of these poorly soluble products, formulation methods are used to improve their aqueous solubility and dissolution. ~90% of newly discovered therapeutic compounds in the developmental process are reported to exhibit low aqueous solubility. Additionally, ~40% of new medicines prescribed to patients in hospitals are estimated to have relatively poor aqueous solubility. These drugs require functional excipients to help resolve their weak physico-chemical properties. Multi-functional excipients are used to generate dosage forms that can minimize the number of doses by adjusting the rate of drug release or enhancing drug delivery by targeting the gastrointestinal tract where drug absorption is maximum. In addition, functional excipients are used to re-formulate existing drugs to create efficient and cost-effective products. As the production of novel drug delivery systems is progressing, sophisticated excipients are required to impart these properties to the final product. Moreover, increasing prevalence of chronic diseases and a growing propensity to consume oral formulations are some of the factors anticipated to fuel demand for multi-functional excipients in the pharmaceutical industry. Multifunctional excipients play an important role in the development of intelligent drug delivery systems, thereby leading to the improvement of the achieved therapeutic effect.
Excipients are an integral component of pharmaceutical products that primarily determine the structure of dosage type and its role in delivering drugs. Excipients significantly affect the process ability, aesthetics, efficiency, and patient compliance with the dosage form. Thus, the use of excipients in a formulation requires an assurance and a clear understanding of their quality, safety, and performance attributes. The principal role of excipients is to support patient acceptability, enhance stability, bioavailability, and assist in the effectiveness. The generics industry has witnessed a remarkable run over the last decade, with companies achieving above-average shareholder returns. Generic drugs are the alternatives to branded drugs with the same dosage form, safety, strength, administration route, and quality.
The patent cliff has resulted in billions dollars’ worth of brand drug sales losing patent protection. Generic drug companies are free to produce their own replicas when patents expire, which can cost up to 80% less than the originals, eventually resulting in a sharp and sudden loss of profits for the companies that developed them. Use of functionality excipients, allows pharmaceutical firms to extend patents. The need to cut prices, generic competition, and lack of innovation are weighing the pharmaceutical industry down. Excipients have become an integral element in the manufacturing of tablets as these provide improved functionality in pharmaceuticals and aid in drug development and innovation, which, in turn help improve patent life at a lower cost. Excipients play a significant role in helping pharmaceutical manufacturers by increasing treatment effectiveness and compliance.
Pharmaceutical Excipients Market: Segmental Overview
Based on product, the pharmaceutical excipients market is segmented into organic chemicals, inorganic chemicals, and others products. In 2019, the organic chemicals segment held the largest market share, and is expected to dominate the market during the forecast period due to the rise in the use of organic chemicals in various formulations in the pharmaceutical industry. Moreover, the same segment is anticipated to grow at the fastest rate during the forecast period.
Based on functionality, the pharmaceutical excipients market is segmented into fillers and diluents, suspending and viscosity agents, coating agents, binders, preservatives, emulsifying agents, and other functionalities. In 2019, the fillers and diluents segment held the largest share of the pharmaceutical excipients market, and is expected to dominate the market by 2027 as it offers the advantages in the development and production of drugs. Moreover, diluents offer more reliable tablet properties such as the improved cohesion promotes proper flow.
Buy Copy of Pharmaceutical Excipients Market Research Study at: https://www.theinsightpartners.com/buy/TIPRE00003534/
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876