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The biopharmaceutical industry is rapidly growing with most pharma companies shifting their focus on increasing the efficacy and safety of biopharmaceutical drugs, thereby allowing them to command high prices for innovative drugs.
Chicago, July 25, 2022 (GLOBE NEWSWIRE) -- According to Ariztons latest research report, the global biopharmaceutical excipients market to grow at a CAGR of 7.56% from 2022 to 2027. The rising demand for biopharmaceuticals is the major factor driving the demand for excipients used in the manufacturing of various biologic drugs. The need for diverse biological treatments is rising as the burden of cancer increases. Both large and small biopharmaceutical businesses continue to look for the molecular causes of cancer and create medications to stop malignant cells. As a result, the biopharma sector is playing a key role in determining many facets of the oncology market.
Cell-based therapy is the fastest-growing segment of regenerative medicine, a field that promises to cure diseases that are not treated by other small molecules or biological drugs. Vaccines are commonly used biologics that are witnessing high demand, especially since the COVID-19 outbreak. Due to the increased production of vaccines, the demand for vaccine-based excipients has increased drastically. In addition, new cell & gene therapies for the treatment of various diseases are also growing. Thus, the need for excipients used in their formulation is likely to grow.
Biopharmaceuticals Excipients Market Report Scope
Report Attributes
Details
MARKET SIZE (2027)
$3.23 Billion
MARKET SIZE (2021)
$2.08 Billion
CAGR (2022-2027)
7.56%
BASE YEAR
2021
FORECAST YEAR
2022-2027
MARKET SEGMENTS
Excipient, Biologics, Scale of Operation
GEOGRAPHIC ANALYSIS
North America, APAC, Europe, Latin America, and MEA
KEY VENDORS
Merck KGAA, BASF SE, Avantor, Evonik Industries, and Roquette
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Emerging Demand for Novel Excipients in Drug Product Development
Novel excipients are playing a crucial role in developing new, improved, and safe drugs for the biopharmaceutical market. Several companies prefer to bring sophisticated and innovative formulations that involve novel excipients. To modernize drug formulation and biopharmaceutical development processes, the FDA launches a testing program to check the safety and suitability of novel inactive ingredients in new drugs and biologics applications. The aim is to encourage sponsors of clinical trials to formulate innovative therapies with those new excipients that the FDA finds acceptable for use under this program.
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Moreover, excipient makers acknowledge that they will be more willing to invest in the production and the characterization of novel excipients if it is possible to gain the FDA review on the benefits of the product outside clinical testing for a new molecular entity. The initiative and ongoing efforts to set international standards for excipient use have the potential to enhance the drug formulation and support modern manufacturing and quality control efforts.
Increasing Need for Outsourcing Biopharmaceutical Excipient Manufacturing
Outsourcing is a common way for pharmaceutical companies to increase their operational efficiencies, expand their geographic footprints, and expand their therapeutic expertise and on-demand services. Outsourcing helps companies to save on resource costs, infrastructure costs, and other overheads. Cost savings remain the main reason for outsourcing multiple features across the industry, but some major pharmaceutical companies have radically changed their outsourcing motives. In the current market, pharmaceutical companies cite improved quality and faster time to market as the main reasons for outsourcing business functions to CROs and CDMOs.
Over the last decade, more and more pharmaceutical and biotechnology companies have turned to complementary metal-oxide semiconductor (CMOs) and contract development and manufacturing company (CDMOs) to help them perform, develop, and manufacture the latest innovations. Outsourcing is a multi-billion-dollar industry today. Most spending is focused on early development, and about two-thirds of annual spending is outsourced.
Key Highlights
In 2021, the monoclonal antibodies segment accounted for the largest share of 45% in the global biopharmaceutical excipients market
The commercial segment dominated the market by contribution largest share of over 73% in 2021.
In 2021, the pharma & biotech companies segment accounted for the larger share of 57.63% in the global biopharmaceutical excipients market.
Key Offerings:
Market Size & Forecast by Volume | 20212027
Market Size & Forecast by Value | 20212027
Market Dynamics Leading trends, growth drivers, restraints, and investment
OpportunitiesMarket Segmentation A detailed analysis by excipient, biologics, scale of operation, end-user, and geography
Competitive Landscape 6 key vendors and 27 other vendors
Market Segmentation
Excipient
Biologics
Monoclonal Antibodies
Vaccines
Others
Scale Of Operation
End-User
Geography
North America
Europe
Germany
France
UK
Switzerland
Italy
Spain
APAC
China
Japan
South Korea
India
Australia
Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
South Africa
Competitive Analysis
The global biopharmaceutical excipients market is fragmented, with revenue generated by vendors ranging from emerging mid-sized to established players. Major players are concentrating on strategic licensing, acquisitions, and collaboration agreements with growing players to enter the biopharmaceutical excipients market and to quickly access commercially launched products. Companies are also launching advanced and novel excipient solutions to support pharma drug development. They are focusing more on distribution chains and are providing the required demand for the biopharmaceutical excipients. Players are also focusing on market expansion in existing and newer markets to cater to the needs of an increasing customer base, widening their product portfolios, and boosting their production capabilities that can help in gaining traction from end-users.
Vendors
Merck KGAA
BASF SE
Avantor
Evonik Industries
Roquette Freres
Other Prominent Vendors
Aceto
Angus Chemical
Apothecon
Ashland Global
BioSpectra
BOC Sciences
C.G. Group
Clariant
Colorcon
DFE Pharma
DOW
Eastman Chemical
IMCD N.V.
Innophos
Invitria
JRS Pharma
Kirsch Pharma
Meggle
Novo Nordisk
Here is the original post:
Biopharmaceutical Excipients Market to Reach $3.2 Billion by 2027. Rising Demand for Vaccines and Cell & Gene Therapy-based Excipients are the...