WILMINGTON, DE / ACCESSWIRE / October 26, 2022 / Transparency Market Research Inc. -The revenue of pharmaceutical excipients market is anticipated to progress at ~5% CAGR during the forecast period, from 2019 to 2027. In 2018, the value of global pharmaceutical excipients market stood at US$ 6.9 Bn and is anticipated to touch value of around US$ 10.7 Bn by 2027. The rising occurrence of chronic illnesses and easy accessibility to drugs, particularly via e-Commerce sites and online sales platforms, are fueling a growth of the bioequivalence industry. The pharmaceutical excipients market growth is anticipated to be driven by growing R&D investment and introduction of new technology.
The demand for excipients that perform better and growing need for treatment of rare disorders are two of the main factors expected to drive the global pharmaceutical excipients market. The term "novel excipient," which refers to an ingredient that has been freshly developed and is not included in previously authorized pharmaceuticals, has been popularized in the U.S. due to the FDA's strict requirements. As a result, it is predicted that the North America pharmaceutical excipients market will experience rapid expansion during the forecast period.
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Key Findings of Market Report
- Key players of pharmaceutical excipients market are boosting their reputation by adhering to internationally validated standards with the aid of innovative excipients. GMP requirements are becoming more well known, which is assisting manufacturers in developing new orphan medications. In addition, growing IPEC cooperation has prompted pharmaceutical firms to include novel excipients into their manufacturing processes. As a result, the utilization of high-quality excipients promotes medication delivery advancements.
- Market players are utilizing the potential in oral dosage forms to suit customer expectations since typical solid tablets are difficult to swallow. They are expanding their production capacity to create novel dosage forms that are simple to take, such as lozenges, effervescent tablets, and orally disintegrating granules (ODGs). Oral dosage forms are expected to account for substantial pharmaceutical excipients market share during the forecast period.
- Pharmaceutical excipient makers are expanding their production capabilities to develop excipients appropriate for melt extrusion and low-temperature melt granulation. As a result, there is an increasing need for excipients that can solubilize APIs in the gastric medium and improve lymphatic transport, which is advantageous for medications vulnerable to hepatic elimination.
Global Pharmaceutical ExcipientsMarket: Growth Drivers
- In order to raise understanding about the fusion of APIs and excipients will result in pioneering drug innovations, companies are anticipated to embrace novel excipients in development of new medications. As such, regulatory agencies will be encouraged to set up regulations that facilitate development of new drugs, which is anticipated to propel the global pharmaceutical excipients market.
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Global Pharmaceutical Excipients Market: Key Competitors
- Archer Daniels Midland Company
- Croda International Plc.
- DuPont de Nemours, Inc.
- Lubrizol Corporation
- Associated British Foods plc.
- BASF SE
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Global Pharmaceutical Excipients Market: Segmentation
Product
- Organic Chemicals
- Inorganic Chemicals
- Others
Functionality
- Fillers & Diluents
- Viscosity Agents
- Coating Agents
- Binders
- Disintegrants
- Flavoring Agents & Sweeteners
- Lubricants & Glidants
- Colorants
- Preservatives
- Others
Formulation
- Oral
- Topical
- Parenteral
- Others
Source
- Plant Origin
- Animal Origin
- Synthetic
- Mineral Origin
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