Biopharmaceutical Excipients Market Size Worth $3.4 Billion By 2028: Grand View Research, Inc.

SAN FRANCISCO, March 17, 2021 /PRNewswire/ -- The global biopharmaceutical excipients market size is expected to reach USD 3.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2021 to 2028. The factors driving the market growth include increasing development of biosimilars, instability.

Key suggestions from the report:

• Carbohydrates accounted for the largest revenue share of 36.2% in 2020 owing to the increasing use of carbohydrates owing to their several advantages
• The advantages include it helps the efficient binding of tablet ingredients, enables accurate dosing and protecting the tablet from harsh environmental conditions, among others
• Sucrose amongst the carbohydrates dominated with a market share of 32.8% owing to its increasing application in stabilizing proteins
• Starch is expected to witness the fastest CAGR of 6.6% from 2021 to 2028 owing to the increasing launch of new starch excipients
• For instance, in May 2019, Colorcon Inc. launched STARTAB, a new starch tableting excipient. It is developed by directly compressible starch for enhancing the stability of moisture sensitive API
• North America has emerged as the highest revenue-generating region, representing a market share of 32.0% in 2020
• Large pharmaceutical companies are entering in collaboration with the companies in the region which can be attributed to market growth
• For instance, in February 2020, MilliporeSigma entered in an agreement with ReForm Biologics LLC for commercializing ReForm's excipients that are used in biotherapeutic formulations
• In Asia Pacific, the market is expected to witness a lucrative CAGR of 7.0% from 2021 to 2028 owing to the increasing production of biosimilar drugs in the region
• The government in this region is promoting biosimilar development. For instance, the government of South Korea provided regulatory guidance to local biosimilars companies for aiming to develop around 22.0% of global biosimilars by 2020

Read 150 page research report with ToC on "Biopharmaceutical Excipients Market Size, Share & Trends Analysis Report By Product (Polyols, Solubilizers & Surfactants/Emulsifiers, Carbohydrates), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/biopharmaceutical-excipients-market

The changing regulatory scenarios by both the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have impacted drug development. Several legislative proposals are addressing new ways for lowering the cost of prescription drugs. Similarly, in recent years there is an increasing focus on drug-manufacturing quality has led to several recalls by FDA and the EMA. Hence, the stringent investigations related to an examination of drugs are likely to promote the use of specific excipients for developing efficient drugs.

In addition, companies are collaborating with government authorities for increasing the application of novel compounds. For instance, in December 2019, U.S. FDA started a pilot program to evaluate novel biopharmaceutical excipients. Later, the initiative was supported by several companies such as AstraZeneca, Regeneron, and Janssen for FDA's plan to review novel biopharmaceutical excipients. Regeneron highlighted different novel compounds that can potentially help in improving public health for example hydrophobic salts can reduce the viscosity of highly concentrated antibody formulations.

Moreover, the rising focus on the rapid development of COVID-19 vaccines and therapeutic drugs is further driving the market growth. Excipients have an essential role in the development of biologics as it helps in stabilizing the drug during storage and processing. The use of appropriate biopharmaceutical excipients enables the development of novel therapies and robust pharmaceutical products for fighting against the pandemic.

Large-scale pharmaceutical companies signed a long-term supply agreement with companies for supporting the development of COVID-19 vaccines. For instance, in November 2020, Pfizer Inc. signed a five-year contract with Croda International for lipid-based excipients that will be used for manufacturing Pfizer's COVID-19 vaccine candidate. Similarly, in May 2020, Moderna signed a supply agreement with CordenPharma for the large-scale production of lipid excipient for the development of mRNA-1273, Moderna's COVID-19 vaccine candidate.

Grand View Research has segmented the global biopharmaceutical excipients market on the basis of product and region:

• Biopharmaceutical Excipients Product Outlook (Volume, Tonnes; Revenue, USD Million, 2017 - 2028)
• Solubilizers & Surfactants/Emulsifiers
• Triglycerides
• Esters
• Others
• Polyols
• Mannitol
• Sorbitol
• Others
• Carbohydrates
• Sucrose
• Dextrose
• Starch
• Others
• Specialty Excipients
• Biopharmaceutical Excipients Regional Outlook (Volume, Tonnes; Revenue, USD Million, 2017 - 2028)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• Japan
• China
• India
• Malaysia
• South Korea
• Philippines
• New Zealand
• Australia
• Singapore
• Indonesia
• Latin America
• Brazil
• Middle East & Africa
• South Africa

List of Key Players of Biopharmaceutical Excipients Market

• Merck KGaA
• Signet Excipients Pvt. Ltd
• Sigachi Industries Limited
• Associated British Foods plc
• Spectrum Chemical Manufacturing Corp.
• Roquette Frères
• IMCD
• Clariant
• DFE Pharma
• Colorcon
• BASF SE
• Evonik Industries AG
• J. RETTENMAIER & SÖHNE GmbH + Co KG

Find more research reports on  Pharmaceuticals industry, by Grand View Research:

• Asia Pacific Drug Development Market – The Asia Pacific drug development market size was estimated at 37.62 billion in 2018 and is projected to register a CAGR of 6.54% during the forecast period.
• Medium Chain Triglycerides Market– The global medium chain triglycerides market size was valued at USD 1.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2020 to 2027.
• U.S. Esters Market – The U.S. esters market size was estimated at USD 3.61 Billion in 2018 and is expected to grow at a CAGR of 4.8% over the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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