Market Trends of Pharmaceutical Excipients Industry
Binders Segment is Expected to Show a Significant Growth Over the Forecast Period
Binder excipients are formulated to act as an adhesive to bind together granules, powders, and other dry ingredients to provide mechanical strength to the finished dosage form. Binders such as starch, gelatin, polyvinylpyrrolidone (PVD), and hydroxypropyl methylcellulose (HPMC) also provide the desired shape to capsules or tablets and prevent the separation of active pharmaceutical ingredients from other excipients such as fillers, lubricants, disintegrants, among others.
The binders segment is expected to project significant growth over the forecast period owing to increasing demand for pharmaceutical and biopharmaceutical drugs, advancements in drug delivery technologies such as multi-particulate systems, controlled-release dosage forms, and the active participation of prominent players in the launch of high-quality binders.
The pharmaceutical industry has gradually recognized binders to be able to assist active pharmaceutical ingredients in achieving better functionality and providing a competitive advantage. Additionally, with the increase in the production of pharmaceuticals, the requirement for binders is also expected to increase, propelling the segment's growth. For instance, according to the India Brand Equity Foundation (IBEF) 2022 report, globally, India ranked third for pharmaceutical production by volume and 14th by value in 2022. Therefore, India's strong position in the pharmaceutical industry by volume and value is projected to drive the segment's growth by increasing demand for binder and offering binders at competitive prices, making them an attractive option for global pharmaceutical companies.
In addition, the launch of technologically advanced and innovative products is propelling the growth of the market segment. For instance, in October 2021, Beneo launched galenIQ 721. It is a filler binder that improves the taste and stability of effervescent tablets and powders. It is a non-hygroscopic, water-soluble, and directly compressible excipient and thus offers high-content uniformity and production efficiency for effervescent applications. Moreover, the strategic initiatives taken by the market players also contribute to the growth of the market segment. For instance, in January 2022, DFE Pharma expanded its nutraceutical portfolio with the launch of three starch-based excipients, namely Nutroféli ST100 (native starch), Nutroféli ST200 (partially pregelatinized starch), and Nutroféli ST300 (completely gelatinized starch). These are naturally sourced, multifunctional excipients that can be used as binders, fillers, and other applications for oral solid dosage forms and conform to food and pharma monographs.
Thus, the market segment is expected to show significant growth over the forecast period due to the abovementioned factors.
North America is Expected to Witness Significant Market Share over the Forecast Period
North America holds a significant share in the pharmaceutical excipients market and is expected to follow a similar trend over the forecast period. Factors such as the fast-growing pharmaceutical industry, increasing demand for functional excipients, the presence of major players in the region, and advancements in technology will majorly drive the growth of the market over the forecast period.
Launching technologically advanced or superior excipients also propels the market's growth. For instance, in May 2022, Lubrizol Life Science (LLS) Health, one of the global leaders in accelerating success and innovation in pharmaceutical development, launched Apisolex in the United States. It is a novel solubility-enhancing excipient for use in parenteral drug products. This technology overcomes solubility hurdles that cannot be resolved by existing excipients or manufacturing techniques.
Similarly, in November 2021, Roquette launched its ready-to-use, pharmaceutical-grade solution for vegetarian soft gel capsule formulation, LYCAGEL Premix. It was developed based on Roquette's market-first pea starch technology called lycagel. The new soft gel blend provides manufacturers with an easy-to-use and convenient solution that ensures fast and reproducible scale-up for nutraceutical and pharmaceutical applications. Such product launches bring more innovative products to the market, which fuels the growth of the market.
Thus, the factors above are anticipated to bolster the market's growth in the North American region.
