Pharmaceutical
Excipients Market: Introduction
According to the report, the
global pharmaceutical excipients market was valued
at US$ 6.9 Bn in 2018 and is projected to
expand at a high CAGR during the forecast period. Pharmaceutical excipients can
be defined as the substances other than the active pharmaceutical ingredients
employed in the formulation of pharmaceutical drugs. These are appropriately
evaluated and incorporated intentionally in drug delivery systems.
The global pharmaceutical excipients
market is driven by boost in growth of the global pharmaceuticals market.
According to the IQVIA Institute for Human Data Science, the global
pharmaceutical market accounted for over US$ 100 Bn in 2017. The
market is anticipated to grow at a rate of over 5% to
reach US$ 1.5 Trn by 2023. Europe dominated the
global pharmaceutical excipients market in 2018 and the trend
is anticipated to continue during the forecast period. Strong growth of the
market in the region can be attributed to growing approval of biosimilars,
contributing to rise in demand for excipients employed in the manufacturing of
biosimilars.
Growing Demand for
Plant Origin Excipients
Focus on development of excipients
originated from plants has been gaining significance, owing to growing usage of
these excipients as sweeteners, adhesives, binders, and suspenders.
Pharmaceutical excipients of plant origin such as agar, starch, alginates,
acacia gum, gelatin, and pectin are widely used in pharmaceuticals as gelling
agents, coating materials, thickening agents, and binding agents. Specific applications
of plant-based polymers in pharmaceutical formulations include their use in
manufacturing of beads, microparticles, injectable and inhalable systems,
nanoparticles, and implants. Various advantages of plant-based excipients
include their biodegradable nature, non-toxicity, biocompatibility, low cost,
and ease of availability. This is likely to drive the growth of the
pharmaceutical excipients market.
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Growing Approvals
of Oral Solid Dosage Drugs
Oral solid dosage is one of the most
common routes of pharmaceutical drug administration. Excipients play a vital
role in providing oral solid dosage drugs by offering better stability, drug
release, bioavailability, taste, and texture. Oral solid dosage forms are
easily transported, chemically stable, and cost-effective. The usage of tablets
or capsules for drug products can provide various advantages such as increased
chemical and physical stability, unique brand recognition by shape and color,
convenience of handling, and controlled release options. According to the IMS
Health, over nine of the top ten drugs based on the prescription volume were
oral solid doses in 2019. Furthermore, according to the U.S. FDA,
in 2018, over 31% of the 59 NMEs approved were
oral solid dose products, of which 24 were tablets and seven were capsules.
This growing approvals of oral solid dosage drugs will contribute positively to
the growth of the pharmaceutical excipients market.
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Organic Chemicals
to Witness High Demand
Among products, the organic chemicals
segment is likely to account for a major share of the global pharmaceutical
excipients market during the forecast period. In the organic chemicals segment,
the carbohydrates sub-segment dominated the market in 2018 and is likely to
remain dominant during the forecast period. Growth of the sub-segment can be
attributed to the high demand for natural excipients, such as the cellulose and
sugars, which, in turn, boost the segment growth.
Oral Formulation is
Most Preferred Mode of Administration
In terms of formulation, the global
pharmaceutical excipients market has been divided into oral, topical,
parenteral, and others. The oral segment held the largest market share in 2018
and the trend is anticipated to continue throughout the forecast period. Oral
formulation is the most preferred mode of administration for a range of
medications unless the patient is not in a position to accept oral solid
medications. In addition, rise in approval of oral solid dosage formulations by
the U.S. FDA contributes to the growth of the pharmaceutical excipients market.
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Pharmaceutical
Excipients
The global pharmaceutical excipients
market has been segmented into five major regions: North America, Europe, Asia
Pacific, Latin America, and Middle East & Africa. Europe dominated the
global pharmaceutical excipients market in 2018. Growth of the
pharmaceutical excipients market in the region can be attributed to strong
presence of market players in the region, robust increase in the manufacture of
biosimilars, and growing adoption of orphan drugs contributing to the strong
demand for pharmaceutical excipients. The pharmaceutical excipients market in
Asia Pacific is likely to expand at a high CAGR from 2019 to 2027.
Growth of the market in the region can be attributed to increased outsourcing
of drug manufacture to developing countries, such as India, owing to low costs
of labor and raw materials in these countries.
Strategic
Acquisitions by Key Players to Propel Global Market
The global pharmaceutical excipients
market is consolidated, in terms of number of players. Key players operating in
the global pharmaceutical excipients market are BASF SE, Colorcon Inc.,
Ashland, Inc., Croda International Plc, Roquette Frères, Evonik Industries AG,
DuPont de Nemours, Inc., Associated British Foods plc, Archer Daniels Midland
Company, and Lubrizol Corporation. These players have adopted various
strategies such as acquisitions and partnerships to expand their portfolio of
services as well as geographical presence.
Global
Pharmaceutical Excipients Market: Segmentation
Pharmaceutical
Excipients Market, by Product
·
o Carbohydrates
§ Sugars
§ Starch
§ Cellulose
o Petrochemicals
§ Glycols
§ Povidones
§ Mineral
Hydrocarbons
§ Acrylic Polymers
§ Others
o Oleochemicals
§ Fatty Alcohols
§ Mineral Stearates
§ Glycerin
§ Others
o Proteins
o Others
o Inorganic Chemicals
§ Calcium
Phosphate
§ Calcium
Carbonate
§ Calcium
Sulfate
§ Halites
§ Metallic Oxides
§ Others
o Others
Pharmaceutical
Excipients Market, by Functionality
·
·
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·
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Pharmaceutical
Excipients Market, by Formulation
·
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Pharmaceutical
Excipients Market, by Source
·
·
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Pharmaceutical
Excipients Market, by Region
·
o U.S.
o Canada
·
o U.K.
o Germany
o France
o Italy
o Spain
o Rest of Europe
·
o China
o India
o Japan
o Australia
o Rest of Asia
Pacific
·
o Brazil
o Mexico
o Rest of Latin
America
·
o GCC Countries
o South Africa
o Rest of Middle East
& Africa
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