Global Pharmaceutical Excipients Market Size Report Based on Synthesis, Growth Analysis and Future

 Global Pharmaceutical Excipients Market Size, by Function (Binder, Lubricant, Filler, Coating), By Application (Oral, Parenteral, Topical), By Product (Organic Chemicals, Inorganic Chemicals) - Global Forecast 2027

Market Synopsis

According to a new report by market Research Future (MRFR), the global market for pharmaceutical excipients is projected to showcase a significant growth rate over the forecast period (2016-2027). Pharmaceuticals are important components of a formulation that offers effective drug absorption. Excipients must comply with the regulatory requirements and must suit the intended dosage form. The compatibility is crucial in dosage forms that incorporate coating, controlled and sustained release, oil base (emulsifiers), and taste masking.

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Excipients used in the manufacturing of drug serve as binders, disintegrants, glidants, or diluents. Therefore, multifunctional excipients can reduce the manufacturing cost and drug development of the product.

Drivers and Restraints

Owing to the patent expiries, the market has witnessed a robust growth rate in the recent times. Moreover, with the large patient population base and growing demand for pharmaceutical products will propel the growth of the market globally. Factors like increasing chronic diseases, growing generics market owing to patent cliffs, advancement in the development of functional excipient, rapid growth of biopharmaceuticals, growing biosimilar industry, and emergence of co-processed and multifunctional excipients are the major factors fuelling the market growth.

Meanwhile, strict mandates like inspection of manufacturing sites by regulatory authorities such as MHRA, FDA, and TGA has affected the supply of global pharmaceutical excipients. Lack of separate guidelines for approval and manufacturing of excipients is impending R&D initiatives related to excipients. If a new drug approval fails, the excipient also fails even if it is not related to the excipient. The clinical data from that particular excipient cannot be used. Moreover, the timeframe and cost required to develop excipients are uneconomical for the manufacturers, thus limiting the scope for getting an excipient approved.

Global Pharmaceuticals Excipients Market Size Segmentation

The global market for pharmaceuticals excipients can be segmented on the basis of product, functions, applications, and region.

The market has been segmented into organic and inorganic chemicals based on product.

The market has been segmented into glidants, lubricants, fillers, coatings, preservatives, disintegrants, binders, and others on the based on functions. Fillers have been accounted to hold the largest market share. They provide ease of administration and improve the taste of the formulation. They also offer ease in preparation, stability, shipping, packaging, and dispensing of drugs.

The market for pharmaceuticals excipients has also been segmented into parenteral, oral, topical, and advanced delivery system based on applications. Oral and topical dosage forms are anticipated to drive the Pharmaceuticals Excipients Market Size growth. Consumption of excipients is witnessed to be high in oral dosage forms like capsules, tablets, and liquids, compared to parenteral. Local players mark their entry in pharmaceuticals with oral dosage forms as they are easier to manufacture. Also, with increasing topical solutions such as gel, cream, skin patch, and eye drops in pain management and dermatology, demand for excipients is also expected to grow at a steady pace.

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Industry Developments

The Dow Chemical Company has introduced AMBERLITE™ resins that have shown to be an effective and safe excipient and can be found in several commercial drug formulation used across the world. These resins can be used for several types of oral dosage forms which includes solids such as capsules, tablets, and liquid suspensions.