Pharmaceutical Excipients Market, by Function (Binder, Lubricant, Filler, Coating), Application (Oral, Parenteral, Topical), Product (Organic Chemicals, Inorganic Chemicals) - Global Forecast 2027
Pharmaceutical excipients are substances formulated for the efficient and effective administration of medicines to patients facilitating drug absorption. Market Research Future (MRFR)’s assessment asserts that the global pharmaceutical excipients market is projected to strike a moderate CAGR during the review period 2016 to 2027.
The growth of the pharmaceutical industry in conjunction with the investments injected for the development of new drugs is anticipated to catapult the pharmaceutical excipients market on an upward trajectory. In addition, the research & development for the formulation of better excipients is also projected to favor the growth pace of the market over the next couple of years.
An upsurge in demand for excipients is expected with the rapid developments in oncological medications. Also, the patent expirations of popular drugs are also prognosticated to fuel the growth of the pharmaceutical excipients market over the next few years.
Key players are focusing on the development of multi-functional excipients. The growing demand for these excipients is poised to have a favorable impact on the proliferation of the pharmaceutical excipients market across the projection period.
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The rising burden of diseases such as cancer, tuberculosis, etc. have merged as the main concern among the healthcare services providers. In addition, new diseases and viruses are also coming up as new challenges from time to time. For instance, Ebola breakout in Africa necessitated the development of new drugs and diagnosis for the eradication of the disease. Thus, the future trajectory of the pharmaceutical excipients market is anticipated to remain lucrative for the next few years.
By product, the global pharmaceutical excipients market has been bifurcated into organic chemicals and inorganic chemicals.
By function, the pharmaceutical excipients market has been segmented into fillers, coatings, binders, disintegrants, lubricants & glidants, preservatives, and others.
By application, the global pharmaceutical excipients market has been segmented into topical, oral, parenteral, and advanced delivery system.
By region, the global pharmaceutical excipients market has been segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to hold the maximum market share through the assessment period. The growth can be attributed to the rapid developments in healthcare as well as pharmaceutical industries. Increasing prevalence of cancer in the region is also encouraging the growth trajectory of the pharmaceutical excipients market in the region. It has been projected to exhibit a similar growth trend in the forthcoming years. Europe is expected to grow substantially on account of the accelerated research & development activities going on in the region. Meanwhile, Asia Pacific resonates strong potential for growth. The increasing patient population, coupled with favorable government laws, are expected to attract the attention of the global leaders. The regional pharmaceutical excipients market is poised to exhibit a considerable CAGR between 2016 and 2027.
The noted players contributing towards the development of the pharmaceutical excipients market are Evonik Industries Ag, The Dow Chemical Company, FMC Corporation, Ashland, Inc., Ferro Corporation, Basf Se, Akzo Nobel NV, P&G Chemicals, and Croda International PL
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In May 2019, ReForm Biologics, a pharmaceutical technology, entered into an evaluation agreement with Bayer AG, a German multinational pharmaceutical and life sciences company. The agreement aims at leveraging viscosity-reducing excipients and surfactant-replacing excipients for two clinical-stage pipeline programs.
In May 2019, -ReForm Biologics, a pharmaceutical technology company, has expanded its patent portfolio with the issuance of the U.S. patent on “Stabilizing Excipients for Therapeutic Protein Formulations.”
In May 2019, the proposal by the European Chemicals Agency for restricting the use of microplastics in pharmaceuticals in the European Union under REACH regulations is opposed by the US excipient industry. The proposal is claimed to be misguided as it considers all polymers as microplastics.
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