Pharmaceutical Excipients Market Growth Is Attributed to the Rapid Growth of the Pharmaceutical Industry

Pharmaceutical excipients are substances that are included in a pharmaceutical dosage form not for their direct therapeutic action, but to aid the manufacturing process, to protect, support or enhance stability, or for bioavailability or patient acceptability. Examples include gelatin, cellulose, cellulose derivatives, polyvinylpyrrolidone, starch, sucrose, and polyethylene glycol. Excipients are designed to enhance the properties of active pharmaceutical ingredients (APIs). Moreover, excipients improve the characteristics of the products' quality, safety, functionality, stability, solubility, and acceptance of patients. It can interact with the active ingredients and alter the medicament characteristics.

Thus, there is an increasing demand for pharmaceutical excipients across the pharmaceutical industry, which in turn is driving the growth of the pharmaceutical excipients market. In April 2021, DFE Pharma announced the launch of BioHale, a new product line aimed at addressing worldwide supply challenges for biopharmaceutical companies. According to the company, the new line will offer market purity and low endotoxin excipients for use in formulation, while providing drug developers and manufacturers with high quality excipient technology and services to advance therapeutic formulation. Generally, pharmaceutical excipients have been considered to be pharmacologically inactive and safe.

The pharmaceutical excipients market in North America is expected to grow from US$ 1,865. 4 million in 2019 to US$ 2,877. 1 million by 2027; it is estimated to grow at a CAGR of 5. 6% 2020-2027. Multifunctional excipient refers to excipients playing several roles in a dosage type or a drug delivery method.

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𝐌𝐚𝐫𝐤𝐞𝐭 𝐬𝐩𝐥𝐢𝐭 𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞:
Binder, Glidents, Diluents, Disintegrants, Others

𝐌𝐚𝐫𝐤𝐞𝐭 𝐬𝐩𝐥𝐢𝐭 𝐛𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:
Oral Formulations, Topical Formulations, Parenteral Formulations, Others

Moreover, pharmaceutical excipients are used to improve the properties of drug formulation, such as reducing viscosity, increasing drug absorption, and improving solubility of APIs in the formulation. Pharmaceutical excipients are classified into organic and inorganic excipients. Gelatin, sugar, starch, and cellulose are organic excipients, while metallic oxides and calcium phosphate are inorganic excipients. Organic excipients are extensively preferred over inorganic excipients that are synthetically derived. Excipients are widely used in the production of oral dosage forms such as liquids, capsules, and tablets due to formulation stability and shelf-life of oral dosage drugs.

This in turn is also expected to increase the demand for pharmaceutical excipients, driving the growth of the pharmaceutical excipients market. In November 2019, Ashland launched three new excipient solutions, Plasdone S630 Ultra, Benecel XR and XRF, and Viatel bioresorbable polymers to expand its portfolio to meet formulators' growing needs. Moreover, growth of the pharmaceutical excipients market is driven by the advent of biosimilars. As of June 2020, Food and Drug Administration (FDA) has approved 27 biosimilars, plus four follow-on biologicals. The pipeline for biosimilars continues to grow, however, of the 27 approved biosimilars, only 17 have been launched so far. Biosimilars on average cost 30% less than reference biologicals.

Therefore, pharmaceutical and biotechnology companies are focusing on developing safe and effective biosimilars, because a small variations in the manufacturing process can potentially alter the medicine’s safety and efficacy. However, strict rules and regulations regarding the approval of biosimilars are slowing the approval of the biosimilars being developed, restraining the pharmaceutical excipients market growth.

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