Covina, May 25, 2023 (GLOBE NEWSWIRE) -- “According to the latest research study, the demand of Pharmaceutical Excipients Market accounted for US$ 6.52 billion 2020 and is estimated to be US$ 10.49 billion by 2030 and is anticipated to register a CAGR of 5.3% over the forecast period”
What is Pharmaceutical Excipients Market?
Pharmaceutical excipients are inactive substances contributing to lubricity, fluidity, disintegration, taste and can impart some form of antimicrobial function. They are used to simplify manufacturing of pharmaceutical products and also helps in promoting physiological absorption of drug.
Growing prevalence of disease and huge requirement for medicinal drugs has given positive impact on target market growth. Presence of major companies, new product launch and strategic partnerships to expand business and maintain position in market is expected to provide lucrative opportunities in Pharmaceutical Excipients market growth over the forecast period.
What is Prophecy’s Analyst View on Pharmaceutical Excipients Market?
Rising demand for generic medicine across the globe is factor driving the growth of the global pharmaceutical excipients market. Excipients provide better functionality such as longer shelf life of formulations which in turn, facilitated the demand for target market growth. Technological innovation in development of new product is likely to propel Pharmaceutical Excipients market growth in coming years.
Report Scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Accounted in 2022 | US$ 6.52 billion |
| Estimated to be in 2032 | US$ 10.49 billion |
| CAGR | 5.3% |
| Market representation | Revenue in USD Million & CAGR from 2020 – 2029 |
| Market Segmentation | By Product - Organic Chemicals and Inorganic Chemicals) By Functionality - Fillers and Diluents, Binders, Disintegrants, Lubricants and Glidants, and Others (Coating Agents, Preservatives, Emulsifying Agents, and Flavoring Agents and Sweeteners By Formulation -Oral Formulations, Topical Formulations, Parenteral Formulations, and Others (Vaginal, Inhaled, Ophthalmic, and Optic) |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
What are the recent news in the Pharmaceutical Excipients Market?
- In November 2021, Gattefosse launched three new Pharmaceutical Excipients such as Gelucire 59/14, Labrafac MC60 for oral administration route and Emulfree Duo for use in topical administration route.
- In April 2021, DFE Pharma launched new product line “BioHale” to for addressing worldwide supply challenges for biopharmaceutical companies. New launch of BioHale Sucrose offers exceptional market purity and with low endotoxin excipient used in formulation.
Click Here to Get Free Sample Copy of this Report@
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/835
What are the emerging trends and innovations in pharmaceutical excipients?
- Advanced drug delivery systems such as nanoparticles and liposomes.
- Biodegradable excipients for sustainability.
- Co-processed excipients with enhanced functionality.
- Development of multifunctional excipients.
- Increasing use of natural and plant-based excipients.
- Application of Quality by Design (QbD) principles.
- Adoption of continuous manufacturing processes.
- Integration of nanotechnology with excipient engineering.
- Excipients for personalized medicine and individualized dosing.
- Focus on regulatory compliance and safety.
These trends drive advancements in drug formulation, manufacturing efficiency, patient experience, and regulatory considerations, shaping the future of the pharmaceutical excipients market.
What are the key drivers propelling the growth of the pharmaceutical excipients market?
The growth of the pharmaceutical excipients market is driven by several key factors. The increasing demand for pharmaceutical products, including generic drugs, is a significant driver. Advancements in drug delivery technologies and the focus on patient compliance and convenience also contribute to market growth. The expansion of the pharmaceutical industry in emerging economies, rising research and development activities, and technological advancements in excipient manufacturing further fuel the market.
Additionally, the emphasis on product safety and quality, the rise in chronic diseases and aging population, and strategic collaborations and partnerships are driving forces behind the growth of the pharmaceutical excipients market.
What are new developments and trends in the pharmaceutical excipients market?
Increased focus on safety and regulatory compliance, growing demand for specialty excipients, application of Quality by Design principles, utilization of natural and plant-based excipients, advancements in nanotechnology and excipient engineering, co-processing and co-formulation techniques, rising demand for patient-centric formulations, and a focus on continuous manufacturing. These developments aim to enhance the safety, efficacy, and patient experience in pharmaceutical formulations while meeting regulatory standards and industry needs.
What are challenges of Pharmaceutical Excipients Market?
- Regulatory Compliance: Meeting stringent regulatory requirements and ensuring compliance with evolving guidelines.
- Safety and Quality Assurance: Maintaining high standards of safety and quality across excipient manufacturing processes.
- Supply Chain Complexity: Managing a complex global supply chain to ensure a consistent and reliable supply of excipients.
- Cost Pressures: Balancing cost-effectiveness while maintaining the quality and performance of excipients.
- Patent Expirations: Coping with the impact of patent expirations on the demand for excipients, particularly in the generic drug market.
- Product Compatibility: Addressing compatibility issues between excipients and active pharmaceutical ingredients (APIs) to ensure stability and efficacy.
- Innovation and Research: Continuously investing in research and development to develop novel excipients and address formulation challenges.
- Variability in Excipient Properties: Managing the inherent variability in excipient properties, which can affect product consistency and performance.
- Changing Market Dynamics: Adapting to changing market trends, emerging technologies, and evolving customer preferences.
- Stringent Testing and Validation: Conducting thorough testing and validation processes to ensure the safety and functionality of excipients.
Download PDF Brochure:
https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/835
What are the opportunities of Pharmaceutical Excipients Market?
- Growing Pharmaceutical Industry: The expanding pharmaceutical industry globally presents opportunities for increased demand for excipients in drug formulation and manufacturing processes.
- Increasing Generic Drug Market: The rising market for generic drugs creates opportunities for excipient manufacturers as generic formulations require a range of excipients.
- Advanced Drug Delivery Systems: The development of advanced drug delivery systems, such as nanoparticles and liposomes, provides opportunities for specialized excipients with enhanced functionalities.
- Personalized Medicine: The shift towards personalized medicine creates opportunities for excipients that enable individualized dosing, controlled release, and patient-centric formulations.
- Sustainability and Green Excipients: The increasing focus on sustainability and eco-friendly alternatives opens opportunities for the development of natural, plant-based, and biodegradable excipients.
- Technological Advancements: Advances in excipient manufacturing technologies, such as co-processing techniques and nanotechnology, create opportunities for the development of novel excipients with improved performance.
- Emerging Markets: The growing pharmaceutical markets in emerging economies offer untapped opportunities for excipient manufacturers to expand their presence and cater to the increasing demand.
- Collaboration and Partnerships: Collaborations between excipient manufacturers, pharmaceutical companies, and research institutions provide opportunities for knowledge sharing, innovation, and product development.
- Patient-Centric Formulations: The demand for patient-friendly formulations, such as orally disintegrating tablets and pediatric dosage forms, presents opportunities for excipients that enhance convenience and compliance.
- Regulatory Support: Supportive regulatory frameworks and guidelines that ensure the safety and quality of excipients create opportunities for excipient manufacturers to meet the regulatory requirements.
Which companies are considered key players in the Pharmaceutical Excipients Market?
- Eastman Chemical Company
- The Procter & Gamble Manufacturing Company
- Merck & Co., Inc.
- Avantor Performance Materials, LLC
- Huntsman Corporation
- ABITEC Corporation
- BASF SE
- Ashland Global Holdings Inc
- FMC Corporation
- Colorcon, Inc
- Roquette Frères S.A.
Request for customization:
https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/835
Conclusion:
In conclusion, the pharmaceutical excipients market is witnessing both challenges and opportunities. Stringent regulatory compliance, maintaining safety and quality assurance, and managing complex supply chains are some of the challenges faced by excipient manufacturers. However, there are numerous opportunities for growth and innovation. The growing pharmaceutical industry, increasing demand for generic drugs, advancements in drug delivery systems, and the emergence of personalized medicine create favorable conditions for excipient manufacturers.
Moreover, the focus on sustainability, technological advancements, collaboration, and the demand for patient-centric formulations provide additional avenues for expansion. By addressing the challenges and leveraging these opportunities, excipient manufacturers can position themselves for success in the dynamic pharmaceutical excipients market.
Key Questions Answered in Report:
- What are pharmaceutical excipients and what roles do they play in drug formulation?
- What are the different types of pharmaceutical excipients and their specific functions?
- What are the current market trends and developments in the pharmaceutical excipients industry?
- What factors are driving the growth of the pharmaceutical excipients market?
- What are the challenges faced by excipient manufacturers and suppliers in the market?
- How are excipients regulated, and what are the key regulatory guidelines and requirements?
- What are the emerging opportunities in the pharmaceutical excipients market?
- Who are the major players in the excipients market, and what are their strategies for growth?
You can also check out some of the Top-Selling Related Research Reports:
- Ophthalmic Drugs Market - By Disease Indication (Dry Eye, Glaucoma, Infection/Inflammation, Retinal Disorders (Wet Age-related Macular, Degeneration, Dry Age-related Macular Degeneration, Diabetic Retinopathy, and Others), By Therapeutic Class (Anti-inflammatory Drugs (Nonsteroidal Anti-inflammatory Drugs and Steroids), Anti-infective Drugs (Anti-fungal Drugs, Anti-bacterial Drugs, and Others), Anti-glaucoma Drugs (Alpha Agonist, Beta Blockers, Prostaglandin Analogs, Combined Medication, and Others), Anti-allergy Drugs, Anti-VEGF Agents, and Others), By Distribution Channel (Hospital Pharmacies, Online Pharmacies, and Independent Pharmacies and Drug Stores), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast till 2030
- E-Pharmacy Market - By Drug Class (OTC Drugs, and Prescription Drugs), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2029
- Allergy Diagnostics Market - By Product (Consumables, Instrument, and Others), By Allergen (Food Allergens, Inhaled Allergens, Drug Allergens, and Others), By End-Users (Diagnostic Laboratories, Hospitals, Research Institutes, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032
Follow us on:
LinkedIn | Twitter | Facebook |YouTube
