Pharmaceutical Excipients Market to Gain $12.24 Bn by 2028 with Booming CAGR Value of 6.6%

New York, Dec. 01, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners new research study on "Pharmaceutical Excipients Market Size, Share, Growth, Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Clinical Indication, Functionality, Application, End User, and Geography," the global market is expected to grow from USD 7.82 billion in 2021 to USD 12.24 billion in 2028; it is estimated to grow at a CAGR of 6.6% from 2022 to 2028.

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Global Pharmaceutical Excipients Market Report Scope, Segmentations, Regional & Country Scope:

Global Pharmaceutical Excipients Market: Competition Landscape and Key Developments

JRS PHARMA GmbH & Co KG, Roquette Freres SA, BASF SE, Evonik Industries AG, AshLand Inc, Archer-Daniels-Midland Co, The Dow Chemical Co, The Lubrizol Corp, Avantor Inc, and MEGGLE GmbH & Co KG., Univar Solutions Inc. are a few of the key companies operating in the global pharmaceutical excipients market. These companies adopt product innovation strategies to meet the evolving customer demands, allowing them to maintain their brand name in the global pharmaceutical excipients market.           

Pharmaceutical excipients are substances other than active pharmaceutical ingredients (APIs) that have been appropriately evaluated for safety and are intentionally included in a drug delivery system. 

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Global Pharmaceutical Excipients Market Growth Factors:

Growing Generics Market

According to Food and Drug Administration (FDA), in the US, about 9 out of the 10 prescriptions have generic drugs. Governments of developing countries are focusing on reducing healthcare costs by boosting the production of generic drugs. For instance, in November 2008, the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India launched Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) to make quality generic medicines available at affordable prices. The scheme focused on dedicated outlets known as Janaushadhi Kendras, offering generic medicines at affordable prices. Till 2021, 8,012 Janaushadhi Kendras were functional across India. In addition, many drugs are on the brink of losing their patents. Generic drug companies can produce replicas of branded drugs when patents of original drugs expire. The replicas can cost up to 80% less than the originals. Therefore, the generics industry has witnessed remarkable growth in the last decade as the patents of many branded drugs have expired, with companies achieving above-average shareholder returns.

Excipients are an integral component of pharmaceutical products that determine the structure of dosage type and its role in delivering drugs. Excipients significantly affect the process ability, aesthetics, efficiency, and patient compliance with the dosage form. Thus, the use of excipients in a formulation requires an assurance and a clear understanding of their quality, safety, and performance attributes. The principal role of excipients is to support patient acceptability, enhance stability, bioavailability, and assist in the effectiveness.

Thus, the rise in the sale of generic drugs across the world propels the demand for pharmaceutical excipients used in manufacturing generic drugs.

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Rising Demand and Emphasis on Co-Processed Excipients

Formulation scientists have recognized that single-component excipients do not always provide the requisite performance to allow certain APIs to be manufactured adequately. These scientists focus on the production of co-processed and multifunctional excipients with enhanced performance.  Co-processed excipients are a mixture of two or more existing excipients at the sub-particle level, offering substantial benefits of the incorporated excipients and minimizing their drawbacks. These multipurpose excipients have dramatically reduced the number of incorporating excipients in the tablet. The co-processed excipients are used to improve the drug's flow, disintegration, lubrication, and compressibility. The excipients also simplify the formulation process and make it cost-effective. They are increasingly used to convert complicated and labor-intensive formulation processes, such as wet granulation, to quick direct-compression processes, without affecting the final product quality or performance. Co-processed excipients play a crucial role in the creation of a stable, result-oriented drug delivery system with enhanced chemical, physical, and mechanical properties.

processed excipients, the companies are focusing on developing co-processed excipients for drug formulations. For instance, in July 2021, DFE Pharma launched a co-processed excipient, Pharmacel sMCC 90, silicified microcrystalline cellulose (MCC). It has been developed as the synergistic solution for challenging oral solid dosage formulations. A co-processed excipient is a promising tool in the production of pharmaceutical products. Existing co-processed adjuvants cannot fulfill all the needs for the preparation of various novel formulations. There is also enough space for the production of new co-processed excipients to satisfy the demand of the pharmaceutical industries, which is expected to act as an opportunity for the growth of the pharmaceutical excipients market during the forecast period.

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