The Global Biologic Excipients Industry is poised for remarkable expansion, as highlighted in the latest comprehensive report by Future Market Insights (FMI). The industry, currently valued at USD 1.4 billion in 2022, is expected to scale new heights, reaching a projected valuation of USD 1.7 billion by the year 2028. FMI’s analysis underscores a stable and impressive cumulative compound annual growth rate (CAGR) of 3.4% over the forecast period from 2022 to 2028.
The findings of FMI’s report reveal a robust and sustained growth trajectory for the Global Biologic Excipients Industry, reflecting the sector’s resilience and potential for innovation. The industry’s value, set at USD 1.4 billion in 2022, is a testament to its current standing in the global market. With the projected increase to USD 1.7 billion by 2028, stakeholders and investors can anticipate lucrative opportunities in the biological excipients landscape.
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Global Biologic Excipients Industry: 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. Polymer 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.
The market is segmented by end-users into biopharmaceutical manufacturers, contract research organizations/contract manufacturing organizations, and research organizations. Biopharmaceutical manufacturers are the leading segment in the Global Biologic Excipients Industry 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 Industry: Dynamics
Growth of the Global Biologic Excipients Industry is primarily driven by rising global demand for medicines, greater uptake of biologics driving demand for parenteral formulations, increasing acquisition of contract research organizations, 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 the grass status of excipients, regulatory audits restricting supply capacity, regulatory hurdles deterring 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 Industry over the forecast period.
A key trend witnessed in the biologic excipients market is the increasing adoption of continuous processing of biologic excipients, the dependence of large drug manufacturers on in-house biologic excipients production, vast proportion of imported excipients leading to production delays, and regulatory harmonization concerning gradation of excipients. Furthermore, the growing importance of developing biologic excipients by big players to enhance their product portfolio, the growing importance of manufacturing authorization, the 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 Industry
Global Biologic Excipients Industry: Regional Analysis
The North American regional market is projected to dominate the Global Biologic Excipients Industry, 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 Market 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 clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market 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 Market Insights (FMI)
Future Market 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 market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a 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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