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(Health-NewsWire.Net, August 30, 2021 ) Growth in Pharmaceutical Excipients Market is majorly driven by the growing pharmaceutical industry coupled with the increasing R&D activities taking place in this field. Also, the growing generics market, rapidly growing biopharmaceuticals sector and the rising adoption of orphan drugs are supporting the growth of the market.
On the other hand, the increasing regulatory stringency regarding the approval of drugs and excipients is expected to restrain the growth of this market during the forecast period. The quality of pharmaceutical excipients throughout their life cycle plays a crucial role in patient safety. The effects of low-quality excipients, such as reduced API bioavailability, have further increased the importance of controlling various aspects of the excipient life cycle, including designing, manufacturing, and transportation.
The importance of excipient quality is recognized by the global pharmaceutical industry and various regulatory agencies worldwide. In this regard, various governments are developing legislation related to sourcing and manufacturing excipients for the pharmaceutical industry that has restrained the industry growth to some extent.
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The organic excipients segment is expected to grow at the highest CAGR during the forecast period
Based on the products, the pharmaceutical excipients market is segmented into organic and inorganic chemicals. Organic chemicals segment held significant share in 2021. The large share of this segment can be attributed to the use of these chemicals in a majority of pharmaceutical formulations. Moreover, rising global demand for pharmaceuticals has fueled the growth of drug production, thereby, positively influencing the segmental growth.
The oral formulations segment is expected to account for the largest share of the Pharmaceutical Excipients market
Based on formulation, the pharmaceutical excipients market is segmented into oral, topical, parenteral, and other formulations. In 2021, the oral formulations segment accounted for the largest share of the pharmaceutical excipients market, mainly because oral formulations are the most common drug delivery
route.
The fillers & diluents segment is expected to have substantial market size during the forecast period.
Based on functionality, the pharmaceutical excipients market is segmented into fillers & diluents, binders, suspending & viscosity agents, flavoring agents & sweeteners, coating agents, colorants, disintegrants, lubricants & glidants, preservatives, emulsifying agents, and other functionalities. The fillers & diluents segment accounted for the largest share of the pharmaceutical excipients market in 2020. This can be attributed to the increased use of fillers and diluents in solid oral drug development and production.
Asia Pacific is expected to account for the highest CAGR for players operating in the Pharmaceutical Excipients market
The Asia Pacific is the fastest-growing and most dynamic pharmerging market globally, poised to be the most attractive regional market due to its large base of generic drug manufacturers. Several factors, such as the growing Asian scientific base (due to the establishment of R&D centers and manufacturing facilities by major players in recent years); growth in the Asian pharmaceutical markets and pharmaceutica manufacturing capabilities; and the large patient pool are contributing to the growth of the pharmaceutical excipients market in the APAC.
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Key Players:
The prominent players in this market are DuPont (US), Colorcon Inc. (US), BASF SE (Germany), Evonik Industries AG (Germany), Ashland Global Holdings Inc. (US), Kerry Group plc (Ireland), Roquette Freres (France), Eastman Chemical Company (US), Air Liquide S.A. (France), and Merck KGaA (Germany).
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