Pharmaceutical excipients refer to inert substances used as vehicles or additives in drug formulations and products. These are used to confer additional desired properties, aid in product identification, enhance stability, or improve product appearance. Some common excipients include binders, coatings, disintegrants, flavoring agents, lubricants, preservatives, and sweeteners. Global pharmaceutical excipients market growth is driven by factors such as rising generic drug production, growth in oral solid dosage forms, and increasing regulatory considerations for excipient selection and characterization in drug development and manufacturing.
Market Dynamics:
Global pharmaceutical excipients market growth is driven by factors such as rising generic drug production, growth in oral solid dosage forms, increasing regulatory considerations for excipient selection and characterization, and expansion of contract manufacturing and packaging facilities. Rising prevalence of chronic diseases worldwide which necessitates effective long-term drug therapies also boosts demand for pharmaceutical excipients. However, stringent regulatory policies mandating safety and quality evaluation of excipients can hamper the market growth. Technological advancements in novel drug delivery systems, demand for multifunctional excipients, and development of biopharmaceutical excipients can offer market growth opportunities.
Key Features of the Study:
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