Report : Asia Pacific Pharmaceutical Excipients Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Organic Chemicals, Inorganic Chemicals, and Other Products); Functionality (Fillers and Diluents, Suspending and Viscosity Agents, Coating Agents, Binders, Preservatives, Emulsifying Agents, and Other Functionalities); Type of Formulation (Oral Formulations, Topical Formulations, Parenteral Formulations, and Other Formulations)
At 8.4% CAGR, the Asia Pacific Pharmaceutical Excipients Market is speculated to be worth US$ 1,856.35 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific pharmaceutical excipients market was valued at US$ 1,143.55 million in 2022 and is expected to reach US$ 1,856.35 million by 2028, registering an annual growth rate of 8.4% from 2022 to 2028. Rising demand and emphasis on co-processed excipients and use of nanotechnology to improve excipients capabilities are the critical factors attributed to the Asia Pacific pharmaceutical excipients market expansion.
Formulation scientists have recognized that single-component excipients do not always provide the requisite performance to allow certain APIs to be manufactured adequately. These scientists focus on the production of co-processed and multifunctional excipients with enhanced performance. Co-processed excipients are a mixture of two or more existing excipients at the sub-particle level, offering substantial benefits of the incorporated excipients and minimizing their drawbacks. The co-processed excipients are used to improve the drug's flow, disintegration, lubrication, and compressibility. The excipients also simplify the formulation process and make it cost-effective. They are increasingly used to convert complicated and labor-intensive formulation processes, such as wet granulation, to quick direct-compression processes, without affecting the final product quality or performance. A co-processed excipient is a promising tool in the production of pharmaceutical products. There is also enough space for the production of new co-processed excipients to satisfy the demand of the pharmaceutical industries, which is expected to act as an opportunity for the growth of the Asia Pacific pharmaceutical excipients market during the forecast period.
On the contrary, cost and time-intensive drug development process hurdles the growth of Asia Pacific pharmaceutical excipients market.
Based on type, the Asia Pacific pharmaceutical excipients market is segmented into bioresorbable polymers & lipids & liposome-based formulation, oleochemicals, sugars, cellulose, starches, petrochemicals, plant protein & polyols & cyclodextrins, inorganic chemicals, and others. The inorganic chemicals segment held 25.6% market share in 2022, amassing US$ 293.24 million. It is projected to garner US$ 457.72 million by 2028 to expand at 7.7% CAGR during 2022–2028.
Based on clinical indication, the Asia Pacific pharmaceutical excipients market is segmented into cancer, metabolic, infectious diseases, dental, ophthalmic, gene therapies, and others. The cancer segment held 32.0% market share in 2022, amassing US$ 366.01 million. It is projected to garner US$ 579.76 million by 2028 to expand at 8.0% CAGR during 2022–2028.
Based on functionality, the Asia Pacific pharmaceutical excipients market is segmented into coloring agent & coating agents, sweetener & flavoring agents, suspending & viscosity agents, preservative & controlled-release, antioxidant & oil, tablet filler & diluents, binders & compression aids & granulating agents, emulsifiers, and others. The tablet filler and diluents segment held 27.2% market share in 2022, amassing US$ 311.13 million. It is projected to garner US$ 531.16 million by 2028 to expand at 9.3% CAGR during 2022–2028.
Based on application, the Asia Pacific pharmaceutical excipients market is segmented into parenteral, orals formulations & tablets, capsules, liquid & injectable, physicochemical excipient container interactions in prefilled syringes, nutraceuticals & OTC, topical, and others. The orals formulations & tablets segment held 44.0% market share in 2022, amassing US$ 502.82 million. It is projected to garner US$ 841.69 million by 2028 to expand at 9.0% CAGR during 2022–2028.
Based on end user, the Asia Pacific pharmaceutical excipients market is segmented into biopharma industries, pharma industries, animal health, and others. The pharma industries segment held 44.0% market share in 2022, amassing US$ 502.78 million. It is projected to garner US$ 806.21 million by 2028 to expand at 8.2% CAGR during 2022–2028.
Based on country, the Asia Pacific pharmaceutical excipients market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 29.3% market share in 2022. It was assessed at US$ 334.49 million in 2022 and is likely to hit US$ 537.41 million by 2028, exhibiting a CAGR of 8.2% during the forecast period.
Key players dominating the Asia Pacific pharmaceutical excipients market are Archer-Daniels-Midland Co, AshLand Inc, Avantor Inc, BASF SE, Evonik Industries AG, JRS PHARMA GmbH & Co. KG, MEGGLE GmbH & Co KG, Roquette Freres SA, The Dow Chemical Co, and The Lubrizol Corp among others.
- In 2020, Evonik launched RESOMER Precise platform of custom functional excipients to precisely control the release profile of parenteral drug products.
- In 2018, BASF launched parenteral excipients designed for small molecule applications including Kollidon 12 PF, Kollidon 17 PF, Kolliphor HS 15, and Kolliphor ELP.
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