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Description
Pharmaceutical Excipients Market size is expected to reach USD 10.8 billion by 2028 from USD 6.9 billion in 2021, at a CAGR of 6.1% during the forecast period 2022-28. Pharmaceutical excipients are combined with active pharmaceutical ingredients to produce the final dosage form of the drugs. The excipients provide bulkiness to formulation, facilitates absorption of the drug, provides stability and prevent from the drugs from denaturation. pharmaceutical excipients market are cost effective, stable, feasible for handling, and inert in the nature. The excipient is a material that has been tested for safety and is added to a medication delivery system. It is not an active pharmaceutical ingredient (API). The main functions of excipients are to protect, support, improve stability, bioavailability, patient acceptability, and aid in effectiveness. The market is made up of sales of pharmaceutical excipients and revenue earned by the company’s manufacturing of these excipients. The major advantages of using excipients are improving property of wetting, increase bulkiness of drug, provides stability, and improves the organoleptic properties of the drug. Excipients are used in a different medicinal products like capsules, tablets, oral liquids, inhalers, implants and injections among others. Factors such as patient compliance and ease in consumption forcing drug manufactures in developing a sustained release dosage formulations which contributes to the extension of shelf life of the oral drugs that adds to the high revenue anticipation of pharmaceutical excipients. However, lack of standard quality policies and regulations for excipients and safety evaluation is expected to hamper the growth of the market over the forecast period.
Key Developments:
In June 2017, Ashland Inc. got US patent for purekote 23589 (dispersion) and purekote 21412a (cross linking agent) coating system
In April 2017, Lubrizol Corporation’s Skin Essentials division launched new acrylate-based polymeric emulsifier Pemulen EZ-4U
In July 2016, The Lubrizol Corporation acquired Diamond Dispersions Ltd to expand its product portfolio that enable digital painting
