Pharmaceutical Excipients Global Market Report 2022

Major players in the pharmaceutical excipients market are, Archer Daniels Midland Co., Associated British Foods, Dow Chemical Company, Evonik, Croda International Plc, Ashland, BASF SE, The Lubrizol Corporation and Roquette Frères.

The global pharmaceutical excipients market is expected to grow from $8.13 billion in 2021 to $8.60 billion in 2022 at a compound annual growth rate (CAGR) of 5.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $10.88 billion in 2026 at a CAGR of 6.0%.

The pharmaceutical excipients market consists of sales of pharmaceutical excipients and related services.The excipient is a substance, not an active pharmaceutical ingredient (API) that has been evaluated for safety, and intentionally added in a drug delivery system.

Excipient’s major roles are to protect, support, enhance stability, bioavailability, patient acceptability, and assist in the effectiveness. The market consists of revenue generated by the company’s manufacturing the pharmaceutical excipients by the sales of these excipients

The main types of products in pharmaceutical excipients are inorganic chemicals and organic chemicals.Pharmaceutical inorganic chemical is concerned with the manufacture, physical or chemical characteristics of substances, assay techniques, and applications of inorganic substances used as pharmaceutical aids, treatments, and diagnostics.

The different functionalities include fillers and diluents, suspending and viscosity agents, coating agents, binders, flavouring agents and sweetners, disintegrants, colorants, lubricants and glidants, others and involves various formulations such as oral fromulation, topical formulation, parental formulation.

North America is the largest region in the pharmaceutical excipients market in 2021.Middle East is expected to be the fastest growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The global surge in the sale of generic drugs contributed to the growth of the pharmaceutical excipients market.Generic drugs are alternatives to the marketed brand name drug in the same dosage form, safety, strength, and route of administration and quality.

According to India Brand Equity Foundation (IBEF), India is the largest provider of generic medicines, the country’s generic drugs account for 20% of the global generic drug exports.Indian pharmaceutical companies received 300 generic drug approvals in the USA.

The surge in the demand for generic drugs drives the pharmaceutical excipients market.

Concerns related to safety and quality are expected to limit the growth of the pharmaceutical excipients market.According to the Pharmaceutical Journal, there are certain complications in children with the use of pharmaceutical drugs with excipients.

For instance, the colorants used in medicine as a coloring agent may lead to sensitivity reactions and hyperactive behaviour in children.Ethanol is another solvent that is widely used in an oral liquid formulation, the use of ethanol mixed medicine for children may have a risk of acute intoxication when overdose, and it may lead chronic toxicity with long term use.

Concerns related to safety and quality are expected to limit the growth of the pharmaceutical excipients market.

The increase in research and development in the pharmaceutical formulation to enhance the production process and product quality by using multi-functional excipients is a trend shaping the market.Excipients play a significant role in helping pharmaceutical manufacturers better support patients by increasing compliance and treatment effectiveness.

For instance, Evonik’s newly launched EUDRAGIT FS 100 is a solid version of the existing EUDRAGIT FS 30 D. This new multi-functional version allows pharmaceutical companies to use the polymer in many new applications, such as hot-melt extrusion, solvent spray-drying, and solvent coating, which was impossible to achieve in past decades where only the aqueous version was available.

In July 2021, Philip Morris International, a US based cigarette and tobacco manufacturing company acquired Fertin Pharma for $820m.Through this acquisition PMI will gain significant ability in developing, formulating, and marketing existing as well as new smoke-free platforms.

Fertin Pharma is a Denmark based company that manufactures pharmaceutical excipients.

The countries covered in the pharmaceutical excipients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.