Pharmaceutical Excipients Market Size, Growth Opportunities, and Strategic Outlook 2022–2028
Pharmaceutical excipients are inactive substances used in drug formulations alongside active pharmaceutical ingredients (APIs) to ensure the safety, stability, effectiveness, and usability of medications.
India, Pune - 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 trajectory is driven by several key factors, including an increase in product approvals and the development of innovative excipients that enhance the performance of active pharmaceutical ingredients (APIs).
Key Growth Drivers
Increasing Product Approvals and Launches
A significant driver of growth in the pharmaceutical excipients market is the rising number of product approvals and launches. Regulatory bodies are becoming more supportive of new formulations, which encourages pharmaceutical companies to innovate and introduce new products. This trend has led to a focus on developing co-processed and multifunctional excipients that provide improved performance compared to traditional single-component excipients.
Advancements in Co-Processed Excipients
Formulation scientists have identified that single-component excipients often do not meet the necessary performance standards for certain APIs. This realization has spurred the development of co-processed excipients, which are mixtures of two or more existing excipients at the sub-particle level. These excipients offer substantial benefits while minimizing drawbacks, significantly improving properties such as drug flow, disintegration, lubrication, and compressibility.
Co-processed excipients also simplify the formulation process, making it more cost-effective. They enable the transition from complex and labor-intensive formulation processes, such as wet granulation, to quicker direct-compression methods without compromising final product quality. For example, DFE Pharma launched Pharmacel sMCC 90, a co-processed excipient designed to address challenges in oral solid dosage formulations, demonstrating the potential of these innovations.
Active Participation of Market Players
The pharmaceutical excipients market is characterized by the active involvement of major 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 specifically developed for active pharmaceutical ingredients sensitive to reducing sugars.
- Ashland launched three new pharmaceutical solutions at industry tradeshows, aimed at meeting the evolving needs of formulators.
- ADM received the 2021 BIG Innovation Awards for its groundbreaking probiotic strain, showcasing the importance of innovation in the sector.
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Regional Insights
The Asia Pacific region emerged as the fastest-growing market for pharmaceutical excipients in 2021. This growth is attributed to 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 such as China and India are witnessing a surge in demand for pharmaceutical excipients, with China alone launching over 500 types of excipients.
Leading companies like Colorcon, Meggle, and Roquette have established operations in China, capitalizing on the market's growth potential. Chinese firms such as Er-Kang Pharmaceutical and Sunhere Pharmaceutical Excipients are also expanding their production capabilities, contributing to a competitive landscape.
Application Insights
The 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, utilizing various excipients such as diluents, binders, lubricants, and disintegrants. The versatility of these excipients enhances product safety and functionality during storage.
Additionally, the segment focusing on physicochemical excipient-container interactions in prefilled syringes is expected to see considerable growth. Research indicates that interactions between excipients and silicone oil in syringes can affect the performance of autoinjectors, underscoring the importance of careful formulation to mitigate dose inaccuracies.
Key Players in the Market
Key players in the pharmaceutical excipients market are crucial in driving innovation and growth. Notable companies include:
- 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. Overall, the future of the pharmaceutical excipients market appears promising, with significant potential for innovation and growth in the coming years.
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.
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