Pune, India, May 2021/MRFR Press Release/- Market Research Future has published its half-cooked research report on the global biopharmaceutical excipients market.
According to MRFR analysis, the global biopharmaceutical excipients marketis expected to register a CAGR of~6.8% from 2021 to 2027and is expected to hold a value of ~USD 3,114.6 million by 2027.
The global biopharmaceutical excipients market is driven by several factors, such as increasing demand for oral formulations across the globe, rising demand for customized medicines, and an increasing geriatric population. Other factors such as increasing patients with chronic ailmentscoupled with growing life expectancy are driving the production of biopharmaceuticals. In addition, increasing stress, back pains, body aches, and headaches has augmented the demand for topical type formulation, accelerating the market growth.
The industry players focus on expanding their global footprint by strategic partnerships, investing in some company’s stock, acquisitions, and product launches. For instance, in February 2020,ReForm Biologics (US) partnered with MilliporeSigma (US) to commercialize excipients used in biotherapeutics. In August 2019, LBB Specialties (US) announced the strategic partnership with MEGGLE (Germany)to expand its excipient distribution channel across the US. In December 2018, Roquette (France) bought a majority stake in excipient producer Crest Cellose (India) that enabled the company to expand its product portfolio and presence in the Indian generic pharmaceutical market. Furthermore, the prominent players focus on new developments, employee satisfaction, the transformation of their research wings, and expanding their distribution network. These factors will augment the market growth and will increase theproduct demand in the forecast timeline.
North America is projected to dominate the biopharmaceutical excipients market due to the growing adoption of the latest drug manufacturing technologies, increasing chronic diseases, and expansion of production capabilities of the industry players across the region. In addition, highinvestments were made in the development of new excipient variants to advance the product portfolio. Furthermore, the key players are involved in collaborations, mergers, and R&D activities that propel market growth.
Europe embraces the second-largest position in the biopharmaceutical excipients market due to growing investments in the pharmaceutical sector and increasing production capacity across the region. In addition, the region experienced high demands for pharmaceutical products. Moreover, countries such asGermany, Italy, the UK, France, and Spain have invested huge amounts in the manufacturing of new vaccines.
Asia-Pacific is anticipated to be the fastest-growing regional market over the projected timeline due to the rising investment in pharmaceutical research and production facilities, increasing consumption of medicines, and supportive government alliances and subsidy schemes. In addition, the availability of highly skilled research employees and an economical workforce is creating opportunities for the industry players.
Furthermore, the market in the Rest of the World is gaining importance due to the rising number of investors, growing geriatric population in countries such as Chile and Argentina, and expansion of the pharmaceutical market across Latin America. However, the availability of counterfeit pharmaceutical goods is hampering the biopharmaceutical excipient market. The pharmaceutical companies aim atinvesting in the Middle East & Africaregion owing to its technologically advanced labs and other research infrastructures. Countries such as Saudi Arabia and the UAE are hiring employees throughout the globe to advance their pharmaceutical market.
The global biopharmaceutical excipients market is categorized into product and formulation. Based on the product category, the market has been segregated into solubilizers & surfactants/emulsifiers, polyols and carbohydrates, and specialty excipients. The carbohydrates segment is expected to hold a considerable share of the market in 2021. Increasing R&D activities for the development of lipid and protein excipient-based corona vaccines is fueling the market demand. In addition, the high demand for carbohydrate-based medicines for the infant segment is propelling the biopharmaceutical excipient market.
Based on formulation, the global biopharmaceutical excipients market has been classified as oral, topical, and injectables. The oral segmentheld the major share in 2020 due to the easy intake procedure and availability of oral medicines throughout the hospitals and retail stores. Additionally, the demand for oral and topical formulations is accelerating due to the growing preference for on-the-go treatment and ambulatory treatment services coupled with increasing cases of trypanophobia.
Some of the key players in the global biopharmaceutical excipients market are Merck KGaA (Germany), Colorcon (BPSI Holdings Inc) (US), BASF SE(Germany), Associated British Foods plc (UK), Signet Excipients Pvt. Ltd (IMCD) (Netherlands), Sigachi Industries Limited (Hyderabad), Spectrum Chemical Manufacturing Corp. (US), Roquette Frères (France), Clariant (Switzerland), DFE Pharma (Germany), J. Rettenmaier & Söhne Gmbh + Co Kg (Germany), and Evonik Industries AG (Germany).