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 market 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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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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