Pharmaceutical Excipients Market Shows Growth Fueled by Rising Demand for Generic Medications & Biopharmaceuticals

Discover insights into the global pharmaceutical excipients market growth driven by rising demand for generic medications and biopharmaceuticals

VANCOUVER, BC, CANADA, July 1, 2024 /EINPresswire.com/ -- The global pharmaceutical excipients market¹ size was USD 6.00 Billion in 2022 and is expected to register a rapid revenue CAGR of 5.7% during the forecast period. Inert chemicals known as pharmaceutical excipients play a crucial role in drug formulation, ensuring stability, absorption, and overall efficacy of pharmaceutical products. The global pharmaceutical excipients market is experiencing significant growth, driven by increasing demand for generic medications, prevalence of chronic diseases, and advancements in biopharmaceuticals.

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 Key Factors Driving Market Growth:

Rising Demand for Generic Medications: As patents expire, generic drugs offer cost-effective alternatives with prices typically 60%–70% lower than branded counterparts, driving their widespread adoption.

Biopharmaceutical Advancements: Biopharmaceuticals, noted for their potency and minimal side effects, are gaining popularity among pharmaceutical companies, leading to increased R&D investments in macromolecule products.

Application in Chronic Disease Management: Excipients are integral in formulating treatments for chronic diseases, enhancing drug stability and patient outcomes.

Market Challenges and Restraints:

Regulatory Hurdles: Stringent regulatory requirements for drug and excipient approval, coupled with the time and cost-intensive drug development process, pose challenges to market growth.

Quality Control Concerns: Ensuring consistent excipient quality and compliance with regulatory standards remains a critical focus for manufacturers and regulators alike, impacting market dynamics.

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 Segment Insights:

Formulation Diversity: Excipients find extensive use in various formulations such as tablets, capsules, and topicals. Topical formulations lead the market due to their ability to deliver medications directly to affected areas.

Functional Roles: Fillers and diluents dominate the excipients market, facilitating drug stability and manufacturing efficiency, while binders contribute to enhanced drug bioavailability and dissolution rates.

Product Preferences: Organic excipients, derived from natural sources, hold the largest market share, driven by their biocompatibility and increasing applications in biologics and personalized medicine.

Future Outlook: The pharmaceutical excipients market is poised for continued growth, driven by ongoing innovations in drug delivery technologies and increasing investments in biopharmaceutical research. As the industry navigates regulatory challenges and focuses on enhancing product safety and efficacy, stakeholders are urged to prioritize quality assurance and compliance to sustain market momentum.

For further insights into the global pharmaceutical excipients market and its evolving landscape, including detailed segmentation by formulation, functionality, and product type, consult the latest market research reports.

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 Pharmaceutical Excipients Top Companies and Competitive Landscape

The global pharmaceutical excipients market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective pharmaceutical excipients solutions.

Evonik Industries

Ashland Global Holdings, Inc.

International Flavors & Fragrances, Inc.

Roquette Frères

Fuji Chemical Industries Co., Ltd.

Wacker Chemie AG

Meggle GmbH & Co Kg

Fuji Chemical Industries Co., Ltd.

Ideal Cures Pvt. Ltd.

Biogrund GmbH

Nitika Pharmaceutical Specialties Pvt. Ltd.

M. Huber Corporation

Kerry

Colorcon

Merck Millipore

Ashland

DFE Pharma

Finar Limited

Corel Pharma Chem

Roquette

Pharmaceutical Excipients Latest Industry News

On 3 October, 2022, Ashland a, a company manufacturing drugs with new technological advancements, such as matrix polymer, launched klucel xtend HPC. Klucel xtend HPC is the only cellulosic excipient that offers a complete extended-release polymer alternative for Hot-Melt Extrusion (HME). In February 2022, Kerry Group Plc., the world’s leading taste and nutrition company, revealed the acquisition of two significant biotechnology companies. These acquisitions strengthened Kerry Group Plc’s technology portfolio, manufacturing capabilities, and expertise. Enmex, a Mexican enzyme manufacturer, and c-LEcta, a leading biotechnology innovation company, have been acquired by the company.

Pharmaceutical Excipients Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global pharmaceutical excipients market on the basis of formulation, product, functionality, end-use, and region:

Formulation Outlook (Revenue, USD Billion; 2019-2032)

Tablets

Parenterals

Capsules

Topicals

Others

Functionality Outlook (Revenue, USD Billion; 2019-2032)

Fillers and Diluents

Binders

Disintegrants

Lubricants and Glidants

Flavoring Agents & Sweeteners

Others

Product Outlook (Revenue, USD Billion; 2019-2032)

Organic Excipients

Inorganic Excipients

End-use Industry Vertical Outlook (Revenue, USD Billion; 2019-2032)

Pharmaceutical and Biopharmaceutical Companies

Research Organizations

Contract Formulators

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

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