PHARMACEUTICAL EXCIPIENTS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Rising health expenditure and improving access to care

Traditional excipients were primarily used for dissolving, diluting or carrying the active ingredients but modern medicine requires excipients that can perform sophisticated functionalities. Many new drug formulations catering to chronic diseases rely on specialized excipients that can control drug release properties over an extended period of time or deliver drugs to targeted sites in the body. For example, COVID-19 vaccines developed by Pfizer and Moderna employ lipid nanoparticles and mRNA that help in intracellular delivery of mRNA and a robust immune response. New diabetes drugs uses hydrogels and polymeric microspheres to release insulin gradually throughout the day obviating the need for multiple injections. Rising biologics and genetically engineered therapies that impose stringent manufacturing and stability requirements can also drive the market growth. Biologics are large and complex molecules that rely on stabilizers, buffers and surfactants during formulation, storage as well as delivery. According to the data from World Health Organization, biologics now account for over 30% of new drug approvals. Their development until commercialization takes extensive research and testing of excipients to ensure the drug maintains its performance. This has stimulated extensive R&D on functional excipients that can better preserve biologic structure and activity.