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Market Research Report
Product code
1018028
Europe Pharmaceutical Excipients Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product ; Functionality ; Type of Formulation |
Europe Pharmaceutical Excipients Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product ; Functionality ; Type of Formulation |
Published: June 4, 2021
The Insight Partners
Content info: 167 Pages
Delivery time: 1-2 business days
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The pharmaceutical excipients market in Europe is expected to grow from US$ 2,560.5 million in 2019 to US$ 3,796.4 million by 2027; it is estimated to grow at a CAGR of 5.8% 2020-2027. Nano delivery systems and nanomedicine are new and yet rapidly growing fields where nanoscale materials are used to deliver therapeutic agents to specific targeted sites or are used as diagnostic tools. Nanotechnology provides several advantages in the treatment of chronic human diseases by site-specific and selective delivery of accurate medicines. Application of nanotechnology for the prevention and treatment of diseases has created a broader forum for the distribution of 'difficult to deliver active pharmaceutical ingredients. This increased use of nanotechnology-assisted drug delivery systems (NADDS) has shown wide-range of benefits from enhancing oral bioavailability to targeting of drugs to tissues. NADDS face challenges in their production and manufacture. Many excipients are used to prevent aggregation during processing and to achieve nanoscale size. Excipients are traditionally used to promote the conversion of APIs into medicinal products, as they contribute to processing, product stability and efficiency. In view of the diversity of NADDS, such systems need a complex three-dimensional structure for their operation. In addition, excipients also play a key role in increasing absorption or successful targeting. Consequently, the efficient production of NADDS includes a detailed understanding of the physicochemical properties and functionality of the excipients. Thus, the excipients enabling nanotechnology are likely to witness intensive scientific investigations, as they have the capability to contribute unique functionality to the drug products.
The market for pharmaceutical excipients market is segmented into product, functionality, and type of formulation. Based on product, the pharmaceutical excipients market is segmented into organic chemicals, inorganic chemicals, and other products. In 2019, the organic chemicals segment accounted for the largest share, and is expected to grow at a fastest CAGR during the forecast period. Organic chemicals are chemical compounds that contain carbon-hydrogen bonds, and these can be found in natural or synthetic form. Most organic chemicals are carbon based, hence produced by plants or animals, whereas synthetic organic chemicals are produced through chemical reactions. Organically derived pharmaceuticals excipients include oleochemicals, carbohydrates, petrochemicals, proteins, povidones, acrylic polymers, mineral hydrocarbons, starch, cellulose, and others. The most used oleo chemical-based pharmaceutical excipients are fatty alcohols, mineral stearates, glycerin, and lipids. The organic segment is expected to lead the market owing to the rise in the use of organic chemicals in various formulations in the pharmaceutical industry.
Critical drugs can be added to the list in due course as further clinical policies are developed to support the COVID-19 response. Likely, any medicine containing a new active substance for the treatment of viral diseases falls within the mandatory scope of the centralized procedure, meaning that they must be assessed by the European Medicines Agency (EMA) and authorized by the European Commission. EMA is ready to support medicine developers with all available regulatory tools to advance and expedite the development of effective measures to fight and prevent the spread of this virus. These include fast tracked scientific advice, PRIME scheme, accelerated assessments and conditional marketing authorizations. Further, growing research activities to develop treatment against corona virus is likely to favor the growth of the market. As Europe has been impacted by the COVID-19 pandemic, an extensive clinical research is currently being conducted to identify effective therapies. The UK dominates the COVID-19 research space, and accounts for the largest number of clinical trials (24.5%), which is then followed by Spain (13.2%), France (9.5%), Italy (5.3%), Russia (4.8%), and Germany (3.8%).
The overall Europe pharmaceutical excipients market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe pharmaceutical excipients market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe pharmaceutical excipients market. DuPont de Nemours, Inc.; Roquette Freres; Ashland Global Holdings, Inc.; BASF SE; Evonik Industries AG; Associated British Foods Plc; Archer Daniels Midland Company; Lubrizol Corporation; DFE Pharma; and Croda International Plc are among a few players operating in the Europe pharmaceutical excipients market.