Pharmaceutical Excipients Market Forecast 2022–2028
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Posted by Monica Scott Filed in Health #Pharmaceutical Excipients Market size #Pharmaceutical Excipients Market share #Pharmaceutical Excipients Market growth #Pharmaceutical Excipients market 34 views
Pharmaceutical excipients are inactive substances used in drug formulations alongside active pharmaceutical ingredients (APIs) to ensure the safety, stability, effectiveness, and usability of medications. They play a crucial role in drug manufacturing by improving properties such as solubility, bioavailability, taste, appearance, and shelf life.
Pharmaceutical Excipients Market Size, Share and Analysis
The global pharmaceutical excipients market is projected to reach US$ 12,245.04 million by 2028, growing at a compound annual growth rate (CAGR) of 6.6% from 2022 to 2028. This growth is primarily driven by an increase in product approvals, technological advancements, and the development of innovative excipients that enhance the performance of active pharmaceutical ingredients (APIs).
Key Growth Drivers
Rise in Product Approvals and Launches
One of the primary factors fueling the growth of the pharmaceutical excipients Industry is the increasing number of product approvals and launches. Regulatory agencies are now more receptive to new formulations, which has encouraged manufacturers to innovate and introduce new products. This trend is particularly evident in the development of co-processed and multifunctional excipients, which offer enhanced performance compared to traditional single-component excipients.
Development of Co-Processed Excipients
Formulation scientists have recognized that single-component excipients often do not meet the performance requirements for certain APIs. As a result, there has been a significant focus on the production of co-processed excipients. These excipients combine two or more existing excipients at the sub-particle level, providing substantial benefits while minimizing drawbacks. Co-processed excipients improve drug flow, disintegration, lubrication, and compressibility. They simplify the formulation process and make it more cost-effective, allowing for the conversion of complex processes like wet granulation into quicker direct-compression methods without compromising product quality.
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Active Participation of Market Players
The pharmaceutical excipients market is characterized by the active participation of key players who adopt various strategies, including product launches, geographic expansion, and technological advancements. Recent developments include:
- Roquette introduced PEARLITOL 150 SD, a new grade of mannitol designed for APIs sensitive to reducing sugars, enhancing tablet dosage forms.
- Ashland launched three new pharmaceutical solutions at tradeshows, aimed at meeting the evolving needs of formulators.
- ADM received the 2021 BIG Innovation Awards for its groundbreaking probiotic strain, highlighting the importance of innovation in the sector.
Regional Insights
The Asia Pacific region was the fastest-growing market for pharmaceutical excipients in 2021. This growth is driven by the increasing interest of major players in developing countries and the willingness of global firms to outsource excipient manufacturing to Asia Pacific due to lower costs. Countries like China and India are experiencing a surge in demand for pharmaceutical excipients. China has launched over 500 types of excipients, with around 400 manufacturers operating in the country.
Leading companies such as Colorcon, Meggle, and Roquette have established operations in China, capitalizing on the market's growth potential. Chinese companies like Er-Kang Pharmaceutical and Sunhere Pharmaceutical Excipients are also expanding their production capabilities, contributing to the competitive landscape.
Application Insights
The global pharmaceutical excipients market is segmented by application, with the oral formulations and tablets segment holding the largest share. Tablets are the most widely used dosage form, employing various excipients such as diluents, binders, lubricants, and disintegrants. The versatility of excipients enhances product safety and functionality during storage.
Additionally, the segment focusing on physicochemical excipient-container interactions in prefilled syringes is expected to grow. Research indicates that interactions between excipients and silicone oil in syringes can affect the performance of autoinjectors, emphasizing the need for careful formulation to mitigate dose inaccuracies.
Key Players in the Market
- JRS Pharma GmbH & Co KG
- Roquette Frères SA
- BASF SE
- Evonik Industries AG
- Ashland Inc
- Archer-Daniels-Midland Co
- The Dow Chemical Co
- The Lubrizol Corp
- Avantor Inc
Future Outlook
The pharmaceutical excipients market is expected to continue its growth trajectory, driven by technological advancements and increasing demand for innovative drug formulations. As companies invest in research and development to create new co-processed excipients, the market will likely witness a surge in product diversity and application areas. The ongoing globalization of the pharmaceutical industry, particularly in emerging markets, presents opportunities for expansion and collaboration.
Frequently Asked Questions (FAQ):
1. What are pharmaceutical excipients?
Pharmaceutical excipients are inactive substances formulated alongside the active pharmaceutical ingredient (API) in medications to aid in drug stability, delivery, absorption, taste, and shelf life.2. What are the key factors driving market growth?
Major growth drivers include rising pharmaceutical production, increasing demand for generic drugs, advancements in drug delivery systems, growth in biologics, and expanding healthcare infrastructure globally.3. Which excipient types are most commonly used?
Common excipient types include fillers & diluents, binders, disintegrants, lubricants & glidants, coatings, preservatives, and sweeteners.Also Available in: Korean|German|Japanese|French|Chinese|Italian|Spanish