BURLINGAME, CALIFORNIA, UNITED STATE, May 20, 2024 /EINPresswire.com/ -- The Pharmaceutical Excipients Market is estimated for 2024 for the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Pharmaceutical excipients are inert substances added to drug formulations for various purposes like bulking, solubility enhancement, and stability. They include fillers, binders, lubricants, disintegrants, and coatings used in tablet manufacturing as well as capsules, gels, and ointments.

Market Dynamics:

The pharmaceutical excipients market is expected to witness significant growth over the forecast period owing to increasing demand for generic drugs. As per WHO, around 80% of the world's population depends on generic medicines for their primary healthcare needs. Furthermore, expiration of blockbuster drug patents is providing a huge impetus to generic drug production. Various excipients are also finding wide applications in novel drug delivery systems like prolong release, targeted delivery, and nanomedicines which is another factor fueling market growth. Fast-track regulatory approvals for generics coupled with initiatives by regulatory bodies to raise generic penetration are some other major market drivers.

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The following manufacturers are covered in this report:

BASF SE, DOW Chemical Company, FMC Corporation, Evonik Industries AG, Croda International PLC, Ashland Inc., Roquette Group, Lubrizol Corporation, Innophos Holdings Inc., MEGGLE Excipients & Technology, and others.

Segment Analysis :

by Chemistry (Plants, Animals, Minerals, and Synthetic Source), by Functionality (Binders, Diluents, Glidents, and Disintegrants), by Application (Oral, Parenteral, and Topical),

Market Drivers for the Pharmaceutical Excipients Market
Increasing demand for generics and biologics is driving the pharmaceutical excipients market

The increasing demand for generic drugs and biologics has been a major factor contributing to the growth of the pharmaceutical excipients market over the past few years. As patents for many blockbuster drugs expire, generics manufacturers are looking to capture market share. This has significantly increased the demand for excipients that go into formulation of generic drugs. Additionally, the biologics market is witnessing rapid growth globally. Since biologics are complex molecules and require specific excipients for stability and delivery, their rising sales directly impact the demand for excipients.

Stringent regulatory norms are propelling pharmaceutical manufacturers to opt for excipients with well-documented safety profiles

Regulatory bodies like the FDA and EMA have implemented stringent norms regarding the selection and approval of excipients used in pharmaceutical formulations. Excipients are now required to undergo extensive safety evaluation and manufacturers need to provide detailed documentation on impurity levels, contaminants and overall quality. This is encouraging pharmaceutical companies to rely only on excipients that have well-established safety profiles with a history of use. Leading excipient suppliers are thus investing heavily in R&D to develop novel excipients meeting stringent quality and safety criteria set by global regulatory authorities.

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Market Restrain for the Pharmaceutical Excipients Market

Challenges in storage and handling of certain excipients restrain market potential

Some commonly used excipients like hypromellose require careful control over storage conditions like temperature and humidity to maintain stability and performance attributes. Inappropriate storage can cause lumps, physical changes and loss of viscosity, negatively impacting drug formulation and stability. Similarly, certain excipients demand highly regulated handling procedures. Any contamination during handling can compromise excipient and drug product quality. The storage and handling challenges associated with some excipients necessitate expensive facilities and equipment, increasing overheads for pharmaceutical companies particularly in developing markets. This acts as a restraining factor for excipient adoption in some applications.

Market Opportunity for the Pharmaceutical Excipients Market

Emerging markets present lucrative growth opportunities

Emerging economies across Asia Pacific, Latin America, Middle East and Africa currently account for a small share of the global pharmaceutical excipients market. However, with improving healthcare infrastructure and increasing local drug manufacturing capabilities in these regions, the demand for pharmaceutical excipients is expected to rise tremendously over the coming years. These markets offer immense opportunities for both international and local excipient suppliers to tap the growing requirements of domestic pharmaceutical companies. Favorable regulatory norms and lower manufacturing costs compared to developed markets makes emerging regions an attractive option for excipient production as well.

Market Trend for the Pharmaceutical Excipients Market

Innovation in functional excipients aids drug delivery and market expansion

The pharmaceutical excipients industry is witnessing significant innovation to develop novel excipients catering to emerging drug delivery technologies. Functional excipients enabling controlled, targeted and enhanced delivery are gaining prominence. Areaswitnessing extensive research include enabling excipients for liposomes, nanoparticles, transdermal & topical delivery systems and solid dispersions. Excipient manufacturers are focusing on multifunctional solutions to maximize benefits. Innovation is also directed towardsdeveloping super-disintegrants and binders for orally disintegrating and fast-dissolving formulations. Such cutting-edge excipients are expected to accelerate development and commercialization of advanced drug delivery systems, driving novel product formulations and market growth.

Market Geography:

➤North America (U.S., Canada, Mexico)
➤Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
➤Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
➤Latin America (Brazil, Argentina, Rest of LA)
➤Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Reasons to Purchase:

◈To gain insightful analyses of the market and have a comprehensive understanding of the Pharmaceutical Excipients Industry Analysis and Forecast 2024-2031” and its commercial landscape
◈Learn about the market strategies that are being adopted by your competitors and leading organizations
◈To understand the future outlook and prospects for Pharmaceutical Excipients market analysis and forecast 2024-2031.To assess the ◈growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.
◈The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research.
◈The report provides a detailed overview of the business with both qualitative and quantitative information.
◈It provides scope and forecast of the global Pharmaceutical Excipients market based on various segments.

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Our Market Research Solution Provides You Answer to Below Mentioned Question:

✦Which are the driving factors responsible for the growth of market?
✦What are the new opportunities, by which market will grow in coming years?
✦What are the trends of this market?
✦Which are main factors responsible for new product launch?
✦How big is the global & regional market in terms of revenue, sales and production?
✦How far will the market grow in forecast period in terms of revenue, sales and production?
✦Which region is dominating the global market and what are the market shares of each region in the overall market in 2024?
✦How will each segment grow over the forecast period and how much revenue will these segments account for in 2031?

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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Coherent Market Insights Pvt. Ltd.
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