Industry Analysis
Growth in the number of chronic diseases, higher awareness of physical well-being, and rising incidence of lifestyle diseases such as diabetes and obesity-related disorders have contributed to increased demand for medications worldwide. This has spurred the need for and production of medicines and excipients. Excipients aid active pharmaceutical components in achieving superior functionality, such as a longer shelf-life, and providing a competitive edge in the formulation.
Data Bridge Market Research analyses that the pharmaceutical excipients market was valued at USD 7.9 billion in 2021 and is expected to reach USD 12.32 billion by 2029, registering a CAGR of 5.71% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
An excipient is a pharmacologically active or inactive material with no therapeutic properties that help to reinforce the tablet's formation. Furthermore, the need for excipient-free pharmaceuticals is growing rapidly, as is the demand for pharmacological goods on a global basis. An excipient contributes to the drug's stability, flavour, and efficacy. Consequently, the expanding usage of colourants allows for easy drug identification, propelling market growth by leaps and bounds.
Pharmaceutical Excipients Market Dynamics
Drivers
· Surging uptake of biopharmaceuticals
The increasing uptake of biopharmaceuticals will result in the expansion of the market's growth rate. Due to their closeness to natural biological components found in the human body. As a result, they offer great efficacy and fewer adverse effects. They are among the pharmaceutical industry's fastest-growing segment.
· Increasing demand for medical drugs and medicines
According to a recent report published on the JAMA Network, demand for medications from public hospitals has increased globally compared to the pre-COVID-19 time. According to the report, azithromycin, Hydroxychloroquine, Corticosteroids, and Heparin have all climbed by 11.45 percent, 6.14 percent, 24.68 percent, and 49.05 percent, respectively. With the rising need for medical pharmaceuticals and medications, the demand for pharmaceutical excipients needed to manufacture these drugs will also rise dramatically, resulting in market growth in the future years.
Furthermore, rising initiatives by public and private organizations to spread awareness and increase in the generic market are the factors that will expand the pharmaceutical excipients market. Other factors such as continuously changing lifestyle and increasing adoption of orphan drugs will positively impact the pharmaceutical excipients market's growth rate. Additionally, high disposable income and rising expenditure for the improvement of healthcare infrastructure will result in the expansion of pharmaceutical excipients market.
Opportunities
· Rising focus of pharmaceutical manufacturing towards emerging countries
Due to a shrinking medication pipeline, government-induced constraints on healthcare costs, and increased regulations on innovative products, the previously lucrative pharmaceuticals business is becoming more difficult to grow. This is pushing pharmaceutical companies to relocate their manufacturing operations closer to emerging regions with high growth rates. This will boost new opportunities for the market's growth rate.
Also, advancement in medical technology and growth in research and development activities will provide beneficial opportunities for the pharmaceutical excipients market in the forecast period of 2022-2029. Likewise, the growth of biosimilars market and multifunctional excipients will enhance the market's growth rate in the forecast period.
Global Pharmaceutical Excipients Market Scope and Market Size
The pharmaceutical excipients market is segmented on the basis of type, function, application, end-users, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
· Inorganic Chemicals
· Organic Chemicals
Function
· Fillers and Diluents
· Binders, Coatings
· Flavouring Agents
· Disintegrates
· Colorants
· Others
Application
· Oral
· Parenteral
· Topical
End-Users
· Pharmaceuticals Companies
· Research Organization, and Academics
· Others
Distribution Channel
· Online Pharmacy
· Retail
· Mail-Order
· Others
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Pharmaceutical Excipients Market Country Level Analysis
The pharmaceutical excipients market is analysed and market size insights and trends are provided by country, type, function, application, end-users, and distribution channel as referenced above.
The countries covered in the pharmaceutical excipients market report are U.S., Canada and Mexico in North America, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa.
Europe dominates the pharmaceutical excipients market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the emergence of huge medicine agencies based on excipients and increasing demand for solid oral drugs for the treatment of chronic disorders in this region.
Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the increasing prevalence of chronic diseases and rising investment in the pharmaceutical sector in this region. Also, shift in lifestyle of people will further flourish the market's growth rate.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Pharmaceutical Excipients Market Share Analysis
The pharmaceutical excipients market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to pharmaceutical excipients market.
Some of the major players operating in the pharmaceutical excipients market are:
· ADM (US)
· Evonik Industries AG (Germany)
· Ashland (US)
· BASF SE (Germany)
· DuPont (US)
· Roquette Feres (France)
· Associated British Foods plc (UK)
· The Lubrizol Corporation (US)
· Croda International Plc (UK)
· Innophous (US)
· Kerry Group (Ireland)
· WACKER Chemie AG (Germany)
· Colorcon (US)
· DFE Pharma (Germany)
· JRS PHARMA (Germany)
· Air Liquide (France)
· Dow (US)
· Avantor, Inc (US)
· BENEO (Mannheim)
· Chemische Fabrik Budenheim (Germany)
· Peter Greven GmbH & Co. KG (Germany)
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MAJOR TOC OF THE REPORT
Ø Chapter One: Introduction
Ø Chapter Two: Market Segmentation
Ø Chapter Three: Market Overview
Ø Chapter Four: Executive Summary
Ø Chapter Five: Premium Insights
Ø Chapter Six: Pharmaceutical Excipients Market by Product & Procedure type
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Research Methodology: Global Pharmaceutical Excipients Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis.
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