The Asia Pacific biopharma excipients market size is poised to reach USD 791.4 million by 2025
NEW YORK, Nov. 14, 2018 /PRNewswire/ -- Asia Pacific Biopharma Excipients Market Size, Share & Trends Analysis Report By Product (Polyols, Solubilizers & Surfactants/Emulsifiers, Carbohydrates, Specialty Excipients) And Segment Forecasts, 2018 - 2025
Read the full report: https://www.reportlinker.com/p05620867
The Asia Pacific biopharma excipients market size is poised to reach USD 791.4 million by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.63% during the forecast period. Patent expiry of blockbuster biologics such as Erbitux, Rituxan, Herceptin, Avastin, Aranesp, and Enbrel by 2030 is encouraging investments in biosimilars R&D by biopharma players. Soaring need for novel additives for development of biologics such as those enhancing lyophilization performance to improve stability of biologics is anticipated to boost the demand for excipients.
As per drug sales record of 2016, eight out of ten top-selling drugs are biologics.Upcoming patent expiry of biologics is leading to increased R&D for biosimilar formulations.
Biopharma players in the market are adopting price reduction strategies in order to promote their products. This is triggering the need for consideration of pricing strategy among excipient manufacturers.
Presence of challenges in development of a stable form of biotherapeutic is urging manufacturers to develop novel excipients.Processing and storage of biomolecules are complicated as these products undergo degradation after a slight change in environmental conditions.
Rising demand for chemicals that are compatible with these biomolecules and serve additional functions such as binding, bulking, and efficient delivery is stimulating the growth of the market.Technological advancements, such as implementation of nanotechnology in the development of novel compounds to enhance drug delivery, are likely to drive the market.
For instance, an Australian provider of microencapsulation for drug delivery, Ceramisphere, expanded its operations for production of nanoparticles with extended-release capacity.
Furthermore, Asian countries such as India & China serve as major markets for biogenerics.Key pharmaceutical players in the market are increasing their R&D activities on follow-on-biologic.
Biologics R&D is outsourced to CROs in the region as a consequence of cost efficiency provided by them, which is consequently boosting the demand for excipients.
Further key findings from the report suggest:
• Carbohydrates accounted the largest revenue share due to substantial product penetration in the market owing to higher availability of raw materials as well as easy molecular processing characteristics
• In terms of revenue, the polyols segment is projected to expand at a CAGR of 6.90% during the forecast period
• Japan dominated the market in terms of revenue. However, in terms of sale volume, the Japanese economy was not on the top as a consequence of high product pricing
• In February 2014, International Pharmaceutical Excipients Council of India (IPEC) was launched. Leading international pharmaceutical companies are founder members of this council, which includes Dow Chemicals, Lubrizol, BASF, SPI Pharma, Colorcon, Indchem International. It is estimated to assist the government of India in evolving direction, standards, and development of the excipient industry in the country, thus working in favor of the market
• In August 2016, China FDA announced to review excipients as a part of new drug application. The former system considered separate review approvals for a drug, its excipient, and its active ingredient.
• Some key companies present in the market are Roquette, DFE Pharma, Pharmonix, Spectrum Chemical Manufacturing Corp., IMCD, Clariant, Signet Chemical Corporation Pvt. Ltd., Sigachi Industries Pvt. Ltd., ABITEC, Colorcon, Meggle AG, SPI Pharma, and BASF SE.
Read the full report: https://www.reportlinker.com/p05620867
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