Type Segment to Dominate Pharmaceutical Excipients Market   

The growing generics market and increasing product launches are boosting the growth of the pharmaceutical excipients market. However, the cost and time-intensive drug development process with pharmaceutical excipients are hampering the market growth.

The global pharmaceutical excipients market  was valued at US$ 7,825.38 million in 2021; registering at a CAGR of 6.6% from 2022 to 2028, according to a new research study conducted by The Insight Partners.

According to Food and Drug Administration (FDA), in the US, about 9 out of the 10 prescriptions have generic drugs. Governments of developing countries are focusing on reducing healthcare costs by boosting the production of generic drugs. For instance, in November 2008, the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India launched Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) to make quality generic medicines available at affordable prices. The scheme focused on dedicated outlets known as Janaushadhi Kendras, offering generic medicines at affordable prices. Till 2021, 8,012 Janaushadhi Kendras were functional across India. In addition, many drugs are on the brink of losing their patents. Generic drug companies can produce replicas of branded drugs when patents of original drugs expire. The replicas can cost up to 80% less than the originals. Therefore, the generics industry has witnessed remarkable growth in the last decade as the patents of many branded drugs have expired, with companies achieving above-average shareholder returns.

Pharmaceutical Excipients Market, by Geography, 2022 (%)

Pharmaceutical Excipients Market, by Geography, 2022 (%)

Report : Pharmaceutical Excipients Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Bioresorbable Polymers, Lipids, and Liposome-Based Formulation; Oleochemicals; Sugars; Cellulose; Starches; Petrochemicals; Plant Proteins, Polyols and Cyclodextrins; Inorganic Chemicals; and Others), Clinical Indication (Cancer, Metabolic, Infectious Diseases, Dental, Ophthalmic, Gene Therapies, and Others), Functionality (Coloring Agent & Coating Agent; Sweetener & Flavoring Agents; Suspending & Viscosity Agents; Preservative & Controlled-Release; Antioxidant & Oil; Tablet Filler & Diluents; Binders, Compression Aids, and Granulating Agents; and Others), Application (Parenteral, Oral Formulations & Tablets, Capsules, Liquid & Injectables, Physicochemical Excipient-Container Interactions in Prefilled Syringes, Nutraceuticals & OTC, Topical, and Others), End User (Biopharma Industries, Pharma Industries, Animal Health, and Others)

Source: The Insight Partners Analysis

Excipients are an integral component of pharmaceutical products that determine the structure of dosage type and its role in delivering drugs. Excipients significantly affect the process ability, aesthetics, efficiency, and patient compliance with the dosage form. Thus, the use of excipients in a formulation requires an assurance and a clear understanding of their quality, safety, and performance attributes. The principal role of excipients is to support patient acceptability, enhance stability, bioavailability, and assist in the effectiveness.

Thus, the rise in the sale of generic drugs across the world propels the demand for pharmaceutical excipients used in manufacturing generic drugs.

Based on type, the pharmaceutical excipients market is segmented into bioresorbable polymers, lipids, and liposome-based formulation; oleochemicals; sugars; cellulose; starches; petrochemicals; plant proteins, polyols and cyclodextrins; inorganic chemicals; and others. The inorganic chemicals segment is expected to account for the largest share of the market in 2022. However, the plant proteins, polyols and cyclodextrins segment is anticipated to register the highest CAGR in the market during the forecast period.

JRS PHARMA GmbH & Co KG, Roquette Freres SA, BASF SE, Evonik Industries AG, AshLand Inc, Archer-Daniels-Midland Co, The Dow Chemical Co, The Lubrizol Corp, Avantor Inc, and MEGGLE GmbH & Co KG., Univar Solutions Inc. are a few of the key companies operating in the pharmaceutical excipients market.

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