Increased R&D Spending and Bioequivalence Drive Pharmaceutical Excipients Market

The concept of bioequivalence development is being highly publicized in the pharmaceutical excipients market. Hence, manufacturers are addressing the challenges of solubility and bioavailability of excipients in order to improve manufacturing efficiency. The growing bioequivalence sector is flourishing with high prevalence of chronic diseases and increased access to medication, especially through online sales and e-Commerce platforms. Increased R&D spending and emergence of new technologies are bringing about a change in the market for pharmaceutical excipients.

Treatment of rare diseases and need for better functioning excipients are some of the key drivers for the pharmaceutical excipients market. Strict regulations by the FDA in the U.S. has given rise to the concept of ‘novel excipient’ that has been newly formulated and not included in earlier-approved drugs. As such, the pharmaceutical excipients market in North America is anticipated for aggressive growth during the forecast period. The global market volume is estimated to reach a production of ~3,155,500 tons by 2027.

pharmaceutical excipients market infographic

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Use of High-quality Excipients Leads to Innovations in Drug Delivery

High-quality excipients are revolutionizing the pharmaceutical excipients market. Pharmaceutical companies are combining active pharmaceutical ingredients (APIs) with novel excipients to introduce ground-breaking innovations in the drug development process. It has been found that the right choice of pharmaceutical excipients can help manufacturers establish a stable dosage form and improve the shelf life of drugs. Moreover, promotion of excipients by various institutions such as the International Pharmaceutical Excipient Council (IPEC) has influenced the choice of excipients used in drug formulations.

With the help of novel excipients, companies in the pharmaceutical excipients market are bolstering their credibility by complying with globally vetted standards. Growing awareness about GMP regulations is helping manufacturers to develop new orphan drugs. Furthermore, increased cooperation from the IPEC has encouraged pharmaceutical companies to adopt new excipients in their production activities. On the other hand, vitamin E TPGS and polyamino acids are steering innovations in drug delivery.

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Holistic Approach in Specialized Dosage Formulations Create Incremental Opportunities

The pharmaceutical excipients market is expected to expand at a CAGR of ~5% during the forecast period. However, there are certain challenges such as poor solubility of active pharmaceutical ingredients (APIs) in the formulation of oral solid dosage drugs. Hence, companies in the market for pharmaceutical excipients are increasing R&D in spray drying, lipid-based drug delivery, and multiparticulate systems to overcome the limitations of traditional approaches. This is evident since the oral formulation segment is predicted for exponential growth. The global pharmaceutical excipients market is projected to reach ~US$ 10.7 Bn by the end of 2027.

Pharmaceutical companies are capitalizing on the demand for specialized dosage forms such as pediatric/geriatric and controlled-release formulations. Since traditional solid tablets are hard to swallow, companies in the market for pharmaceutical excipients are using this opportunity with the full potential to meet consumer needs. They are increasing their production capabilities to develop innovative dosage forms such as orally disintegrating granules (ODGs), effervescent tablets, lozenges, and the likes that are designed to swallow easily.
 

Lipid Excipients and Polymers Overcome Issues in Drug Development

Companies in the pharmaceutical excipients market are developing excipients that improve the dissolution of APIs and enhance API permeability across the biological membrane in order to innovate in drug delivery. Likewise, lipid excipients are acquiring popularity as multifunctional excipients, since they fulfill the requirements in dose and formulation. Companies in the market for pharmaceutical excipients are increasing their production capacities to develop excipients that are suitable for low-temperature melt granulation and melt extrusion. As such, there is a growing demand for excipients that solubilize APIs in the gastric media and enhance lymphatic transport, which is desirable for drugs that are subject to hepatic elimination.

Innovative lipid excipients help disperse the drug in the lipid matrix, thus providing protection for drugs against the incidence of hydrolysis or oxidation for sensitive APIs. In order to achieve bioavailability, companies are adopting the approach of amorphous solid dispersions. This innovative approach is being combined with polymers, which contribute toward amorphous embedding and prevent recrystallization during storage.

pharmaceutical excipients market segmentation

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 Analysts’ Viewpoint

Europe is one of the most lucrative markets for the development of advanced drug delivery systems. However, the absence of regulations in the pharmaceutical excipients market hinders the process of pharmaceutical product development in the region. Hence, companies should adopt new excipients in the production of new drugs to create awareness that the combination of excipients and APIs will lead to groundbreaking drug innovations. This will encourage regulatory authorities to introduce guidelines that support drug innovations. New trends such as the FDA considering a pilot review program to evaluate the toxicology and quality of novel excipients are contributing to market growth.

Pharmaceutical Excipients Market: Overview

  • The global pharmaceutical excipients market was valued at US$ 6.9 Bn in 2018 and is projected to expand at a high CAGR from 2019 to 2027. In terms of volume, the global pharmaceutical excipients market was valued at 2,108,405 tons in 2018. Rise in adoption of orphan drugs, growing approvals of biosimilars, increase in focus on development of novel excipients, and changing regulatory scenario are expected to drive the global pharmaceutical excipients market.
  • Research & development in the field of pharmaceutical excipients is focused on the development of novel excipients, mainly of plant origin, owing to their advantages including their biodegradable nature, non-toxicity, biocompatibility, low cost, and ease of availability
  • Increasing approval of oral solid dosage formulations by the U.S. FDA, owing to the high patient preference for oral medications aids in the growth of the pharmaceutical excipients market 

Pharmaceutical Excipients: Market Segmentation

  • The global pharmaceutical excipients market has been segmented based on product, functionality, formulation, source, and region
  • In terms of product, the global pharmaceutical excipients market has been categorized into organic chemicals, inorganic chemicals, and others. The organic chemicals segment has been sub-segmented into carbohydrates, petrochemicals, oleochemicals, proteins, and others. The carbohydrates sub-segment has been further segmented into sugars, starch, and cellulose. The petrochemicals sub-segment has been further segmented into glycols, povidones, mineral hydrocarbons, acrylic polymers, and others. The oleochemicals sub-segment has been further segmented into fatty alcohols, mineral stearates, glycerin, and others. The inorganic chemicals segment has been further sub-segmented into calcium phosphate, calcium carbonate, calcium sulfate, halites, metallic oxides, and others.
  • Based on functionality, the global pharmaceutical excipients market has been segregated into fillers & diluents, viscosity agents, coating agents, binders, disintegrants, flavoring agents & sweeteners, lubricants & glidants, colorants, preservatives, and others
  • Based on formulation, the global pharmaceutical excipients market has been further segmented into oral, topical, parenteral, and others. The oral segment dominated the global pharmaceutical excipients market in 2018 and it likely to maintain its dominance in the forecast period.
  • Based on source, the global pharmaceutical excipients market has been divided into plant origin, animal origin, synthetic, and mineral origin 

Pharmaceutical Excipients Market: Regional Segmentation

  • In terms of region, the global pharmaceutical excipients market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Europe dominated the global pharmaceutical excipients market in 2018 and the trend is expected to continue throughout the forecast period
  • The pharmaceutical excipients market in Asia Pacific is anticipated to expand at a high CAGR during the forecast period. Increase in demand for pharmaceuticals due to rise in population in Japan is expected to boost the pharmaceutical industry in the country, thereby driving the growth of the pharmaceutical excipients market. 

Pharmaceutical Excipients Market: Major Players

  • Key players operating in the global pharmaceutical excipients market are
    • BASF SE
    • Colorcon Inc.
    • Ashland, Inc.
    • Croda International Plc
    • Roquette Frères
    • Evonik Industries AG
    • DuPont de Nemours, Inc.
    • Associated British Foods plc
    • Archer Daniels Midland Company
    • Lubrizol Corporation
  • These players are focused on adopting inorganic growth strategies to strengthen their product portfolio. These companies have adopted strategies such as partnerships and acquisitions to strengthen their market position; expand their portfolio of products; and expand their geographical presence.

Pharmaceutical Excipients Market - Scope of the Report

TMR’s report on the global pharmaceutical excipients market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the global market during the forecast period i.e. from 2019 to 2027. The report provides the overall revenue of the global pharmaceutical excipients market for the 2017–2027 period, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compounded annual growth rate (CAGR) for the global pharmaceutical excipients market for the forecast period.

The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with market leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global pharmaceutical excipients market.

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of top-down and bottom-up approaches to study various phenomena in the global pharmaceutical excipients market.

The report includes an elaborate executive summary, along with a snapshot of the growth pattern of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on the changing competition dynamics in the global pharmaceutical excipients market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global pharmaceutical excipients market. The next section of the report highlights the USPs, which include value chain analysis, Porter’s five force analysis, and key industry developments in the global pharmaceutical excipients market.

The report delves into the competition landscape of the global pharmaceutical excipients market. Key players operating in the global pharmaceutical excipients market have been identified and each one of these has been profiled for its distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global pharmaceutical excipients market report.

Key Questions Answered in Pharmaceutical Excipients Market Report

  • How much sales revenue would be generated by pharmaceutical excipients across all regions during the forecast period?
  • What are key trends in the global pharmaceutical excipients market?
  • What are major drivers, restraints, and opportunities in the global pharmaceutical excipients market?
  • Which regional market is set to expand at the most rapid CAGR during the forecast period?
  • Which segment would generate the maximum revenue by 2027 and which product type segment would expand at the most rapid CAGR during the forecast period?

Pharmaceutical Excipients Market - Research Objectives and Research Approach

The comprehensive report on the global pharmaceutical excipients market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of the study and healthcare compliances laid down by accredited agencies in the purview of research in the global pharmaceutical excipients market. It is followed by market introduction, market dynamics, and an overview of the global pharmaceutical excipients market, which includes TMR’s analysis of market drivers, restraints, and trends affecting the market. Furthermore, Y-o-Y growth analysis with elaborate insights has been provided to understand the Y-o-Y growth trends of the global market. The next section of the global pharmaceutical excipients market report highlights the USPs, which include regulatory scenarios for pharmaceutical excipients globally, market value chain analysis, and developments in the global market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into small sections. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.

Revenue generated by key players in the global pharmaceutical excipients market has been mapped to ascertain the size of the global pharmaceutical excipients market, in terms of value. The forecast presented here assesses the total revenue generated in the global pharmaceutical excipients market. In order to provide an accurate forecast, we initiated by sizing up the current pharmaceutical excipients market with the help of the parent market.

The report analyzes the global pharmaceutical excipients market in terms of product, functionality, formulation, source, and region. Key segments under each criteria have been studied at length and the market share for each of these by the end of 2027 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global pharmaceutical excipients market.

Pharmaceutical Excipients Market – Segmentation

Product

Organic Chemicals

Carbohydrates

Sugars

Starch

Cellulose

Petrochemicals

Glycols

Povidones

Mineral Hydrocarbons

Acrylic Polymers

Others

Oleochemicals

Fatty Alcohols

Mineral Stearates

Glycerin

Others

Proteins

Others

Inorganic Chemicals

Calcium Phosphate

Calcium Carbonate

Calcium Sulfate

Halites

Metallic Oxides

Others

Others

Functionality

Fillers & Diluents

Viscosity Agents

Coating Agents

Binders

Disintegrants

Flavoring Agents & Sweeteners

Lubricants & Glidants

Colorants

Preservatives

Others

Formulation

Oral

Topical

Parenteral

Others

Source

Plant Origin

Animal Origin

Synthetic

Mineral Origin

Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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