The global Biologic Excipients Industry, as per a comprehensive report by Future Market Insights (FMI), displayed remarkable growth in 2022, with a market value of USD 1.4 billion. The biologic excipients market is on an upward trajectory, projected to reach a staggering USD 1.7 billion by 2028. This impressive growth is expected to be sustained with a cumulative Compound Annual Growth Rate (CAGR) of 3.4% over the forecast period from 2022 to 2028.
FMI’s upcoming report, “Biologic Excipients Market: Global Industry Analysis 2013–2017,” provides invaluable insights into the factors driving this exceptional market expansion. The report reveals that the global biologic excipients market is anticipated to register a robust CAGR of 3.6% during the forecast period, underlining the significant market dynamics and potential for investors and industry stakeholders.
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Global Biologic Excipients Market: Segmental Analysis & Forecast
The global market is segmented based on excipient type, end user and region. Based on excipient type the market is segmented into polymers, sugar alcohols, polysorbates, inorganic salts, amino acids, surfactants and others. Polymers biologic excipients are anticipated to lead the biologic excipients market over the forecast period. Polymer biologic excipients account for the highest revenue share and are anticipated to witness a growth rate of 3.7% over the forecast period.
By end user, the market is segmented into biopharmaceutical manufacturers, contract research organisations/contract manufacturing organisations, and research organisations. Biopharmaceutical manufacturers is the leading segment in the global biologic excipients market over the forecast period. This segment accounts for a relatively higher revenue share, which is expected to register a CAGR of 6.0% over the forecast period.
Global Biologic Excipients Market: Dynamics
Growth of the global biologic excipients market is primarily driven by rising global demand for medicines, greater uptake of biologics driving demand for parenteral formulations, increasing acquisition of contract research organisations, patent expiration of major blockbuster drugs, growing adoption of advanced drug delivery technologies, increasing research in pediatric formulations, growing demand for extended-release or sustained release formulations, increasing demand for oral solid drug formulations, rising demand from emerging economies pushing local drug production, and increasing per capita healthcare expenditure.
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However, lack of proper data documentation on gras status of excipients, regulatory audits restricting supply capacity, regulatory hurdles detering novel excipient development, and stability testing of excipients imposing cost liabilities on drug manufacturers are some factors expected to hamper the growth of the global biologic excipients market over the forecast period.
A key trend witnessed in the biologic excipients market is increasing adoption of continuous processing of biologic excipients, dependence of large drug manufacturers on in-house biologic excipients production, vast proportion of imported excipients leading to production delays, and regulatory harmonisation with respect to gradation of excipients. Furthermore, the growing importance of developing biologic excipients by big players in order to enhance their product portfolio, growing importance for manufacturing authorisation, growing market for topical and parenteral applications and compulsory licensing promoting demand for biologic excipients are the key trends likely to be witnessed in the global biologic excipients market.
Global Biologic Excipients Market: Regional Analysis
The North America regional market is projected to dominate the global biologic excipients market, accounting for a maximum revenue share of the global market by 2017 end. The North America, Western Europe, and Asia Pacific markets accounted for 77.3% of the total biologic excipients market share in terms of value in 2017. Revenue from the market in APEJ is estimated to expand at a CAGR of 4.2% over the forecast period.
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Author
Sabyasachi Ghosh (Associate Vice President at Future Industry Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Industry Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Industry Insights (FMI)
Future Industry Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the Industry. FMI stands as the leading global provider of Industry intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals Industrys. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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