Biologic Excipients Market: Opportunity Analysis Report By Component, Top Players & End User, 2020-2028
Meridian Market Consultants (MMC) has published a new report titled, “Biologic Excipients Market: Opportunity Analysis and Future Assessment 2019 to 2028. According to the report, global biologic excipients market in 2020 is estimated for more than US$ 1,245.3 Mn and expected to reach at a value of US$ 1,630.6 Bn by 2028 with a significant CAGR of 3.4%. As per the report, the global biologic excipients market is driven by the upsurge in need for the urgent need of effective vaccines, penetration of expensive pharmaceutical industry, strict rate of approval of vaccines and drugs by the FDA, and the evolvement of 3D printing in the pharmaceutical industry globally. The base year considered for the study is 2019, and the market size is projected from 2020 to 2028.
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Increase in focus of market players on the bio-generic market, cost-effectiveness factor along with intense competition among the manufacturers, issues linked with the patents like the expiry of biological actives, and the mounting adoption of multi-purpose nature and functionality excipients are the prime factors supporting the market growth globally. Besides, the on-going research studies with the technological advancements to enhance the capability of the end product of bioavailability using excipients coupled with the growing demand for generic medicines from developing countries propelling the production of local drugs and the uptake of biologics resulting in driving demand for parenteral formulation are also expected to boost the biologic excipients market during the forecast period. Rising acquisition of contract research organizations, penetrating demand for the oral solid-liquid formulation, emerging adoption of technologies for advanced drug delivery systems, and the ability of biologic excipients to enhance solubility and bioavailability are other concerning factors fuelling the market growth.
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Biologic Excipients Market Segmentation
The biologic excipients market is segmented on the basis of excipient type, end-user, and by region.
By Excipient Type:
Contract Research Organizations/Contract Manufacturing Organizations
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Biologic Excipients Market Overview
The global biologics excipients market is driven by assisting the controlled or sustained release of delivery performance, the introduction of inventive technologies focusing on the targeted pediatric along with the geriatric patient pool, increasing implementation of increased patient-centricity approaches by drug manufacturers, and the mounting demand for extended-release or sustained-release formulations. However, the stability testing of excipients imposing the cost liabilities on market key manufacturers is likely to limit the growth of the biologic excipients market.
Moreover, factors like the growing biosimilars market and the extensive application of active ingredients in the manufacturing of pharmaceutical products are the major trends resulting in market growth.
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Biologic Excipients Market Key Players
Key players operating in the global biologic excipients market include:
Signet Chemical Corporation Pvt. Ltd.
The Archer Daniels Midland Company
The Dow Chemical Company
Wacker Chemie AG.
On the basis of region, the biologic excipients market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
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