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Anticipated Growth in the Pharmaceutical Excipients Market

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According to a report by MarketsandMarkets, the pharmaceutical excipients market is projected to experience substantial growth, reaching an estimated value of $14.9 billion by 2028, reflecting a CAGR of 6.8% between 2023 and 2028. This anticipated expansion is attributed to several factors, including increased R&D investments targeting novel excipients and a heightened focus on patient-centered formulations within the pharmaceutical industry.

The research emphasizes the significant influence of rising demand for generic drugs and products, coupled with expanded R&D ventures aimed at innovating excipients. Collaborations and partnerships geared toward tailored excipient solutions are also identified as contributors to market growth.

Challenges and Opportunities in Novel Excipient Development

However, the development costs associated with novel excipients pose a challenge, along with stringent regulatory frameworks that could potentially impede market evolution. Despite these obstacles, functional and multifunctional excipients are recognized as areas ripe for development within the industry. Furthermore, the adoption of non-toxic organic chemicals is projected to drive growth in the organic chemicals segment, thereby boosting the pharmaceutical excipients market.

Within the functional excipients sector, lubricants and glidants are anticipated to exhibit rapid growth due to their capacity to enhance formulation flow properties. The Asia Pacific region is expected to witness the most rapid market expansion globally, attributable to lower manufacturing costs in countries like China and India, which are attracting substantial investments from major pharmaceutical entities.

Pharmaceutical Excipients Market

Innovations and Recognitions in Pharmaceutical Excipients

Recent developments highlight the regulatory efforts and innovations in the pharmaceutical excipients domain. The European Medicines Agency’s (EMA) focus on nitrosamine mitigation strategies underscores the significance of nitrite concentrations in excipients and opportunities for implementing corrective actions. Additionally, the recognition of Lubrizol Life Science Health with the Finished Formulation Award for their Apisolex Polymer solubilizing excipient signifies notable advancements in this sector.

Key players contributing to the global pharmaceutical excipients market landscape include Merck KgaA, Evonik Industries AG, BASF SE, and Wacker Chemie AG. Their roles and contributions underscore their importance in shaping the market’s trajectory and technological advancements in excipient development.

 

Resource: European Pharmaceutical Review, December 05, 2023

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