Emergence of Europe as a Hub for Advanced Drug Delivery Systems to Benefit the Pharmaceutical Excipients Market: TMR
ALBANY, N.Y., July 8, 2021 /PRNewswire/ -- The pharmaceutical industry has grown at a mammoth speed over the years. The discovery and the utilization of certain drugs have increased exponentially. Drug development is a necessity in these times, where many diseases and infections are prevalent across many individuals. Excipients have a crucial role to play in the growth of the pharmaceutical excipients market. Therefore, the rising demand for excipients across the pharmaceutical industry will help in increasing the growth rate during the assessment period of 2019-2027.
Excipients have a pivotal role in the process of drug development. A wrong excipient choice can prove to be a blunder and even result in severe intoxications. The prominent function of an excipient is to act as a component or carrier of active substances in drugs. Active substances cannot be consumed directly. These substances, when fused with excipients, can be taken properly. In short, excipients assist in the manufacturing of the finished pharmaceutical product.
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Transparency Market Research (TMR) has conducted comprehensive research on all the aspects related to the growth of the pharmaceutical excipients market. The information is compiled in the research report on the pharmaceutical excipients market. According to the market insights on the pharmaceutical excipients market by TMR experts, it is expected to expand at a CAGR of ~5 percent during the forecast period of 2019-2027. The global pharmaceutical excipients market was valued at US$ 6.9 bn in 2018 and is extrapolated to reach a valuation of ~US$ 10.7 bn by 2027, the end year of the forecast period.
The rising tendency among individuals to consume oral formulations and the expanding cases of chronic diseases will serve as growth-boosting factors for the global market for pharmaceutical excipients. The blend of active pharmaceutical ingredients with new excipients is proving to be a successful aspect for revenue-generation. The expansive focus on developing drug delivery systems will help increase the growth rate of the pharmaceutical excipients market.
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Key Findings of the Report
Expiry of Blockbuster Drugs Patents will Invite Promising Growth for the Pharmaceutical Excipients Market
The market survey on pharmaceutical excipients highlights how the expiry of drug patents proves to be beneficial. A severe patent cliff can result in immense losses for drug companies and organizations. Patent cliff refers to a sudden drop in the sales of the products that are the highest revenue generators. This phenomenon is common in the pharmaceutical sector. Thus, the prevention of patent cliffs is crucial for any pharmaceutical organization or company. Hence, this factor bodes well for the growth of the pharmaceutical excipients market.
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Mass Development of Orphan Drugs to Add Extra Stars of Growth
The research activities in orphan drugs have increased phenomenally due to the extensive funding initiatives by government bodies. The governments of numerous countries are focusing intensively on funding research initiatives. Treatment of rare diseases through oral formulations has gained considerable traction. These factors will help in improving the growth trajectory of the pharmaceutical excipients market considerably.
Pharmaceutical Excipients Market: Key Players
Some well-entrenched players in the pharmaceutical excipients market are:
- Archer Daniels Midland Company
- Croda International PLC
- DuPont de Nemours, Inc.
- Colorcon Inc.
- Roquette Frères
- Associated British Foods PLC
- Lubrizol Corporation
- Ashland, Inc.
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