Europe Pharmaceutical Excipients Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Organic Chemicals, Inorganic Chemicals, and Other Products); Functionality (Fillers and Diluents, Suspending and Viscosity Agents, Coating Agents, Binders, Preservatives, Emulsifying Agents, and Other Functionalities); Type of Formulation (Oral Formulations, Topical Formulations, Parenteral Formulations, and Other Formulations)
The Europe pharmaceutical excipients market is expected to grow from US$ 2,878.05 million in 2022 to US$ 4,198.83 million by 2028. It is estimated to grow at a CAGR of 6.5% from 2022 to 2028.
Growing Generics is Driving the Growth of Europe pharmaceutical excipients market
Governments of developing countries are focusing on reducing healthcare costs by boosting the production of generic drugs. In addition, many drugs are on the brink of losing their patents. Generic drug companies can produce replicas of branded drugs when patents of original drugs expire. The replicas can cost up to 80% less than the originals. Therefore, the generics industry has witnessed remarkable growth in the last decade as the patents of many branded drugs have expired, with companies achieving above-average shareholder returns. Excipients are an integral component of pharmaceutical products that determine the structure of dosage type and its role in delivering drugs. Excipients significantly affect the processability, aesthetics, efficiency, and patient compliance with the dosage form. The principal role of excipients is to support patient acceptability, enhance stability and bioavailability, and assist in effectiveness. Thus, the rise in the sale of generic drugs across the region propels the demand for pharmaceutical excipients used in manufacturing generic drugs.
Europe Pharmaceutical Excipients Market Overview
Europe is in the second position in the global market for pharmaceutical excipients and is expected to register a high growth rate during the forecast period. The pharmaceutical excipients market in Europe is in a growth phase due to the presence of the scientific guidelines of the European Medicines Agency for excipients, which enable the planning of marketing authorization applications for medicines for human consumption. The research-based pharmaceutical industry can play a key role in restoring growth in Europe and ensuring future competitiveness in the global economy. Moreover, the increasing prevalence of chronic diseases is fueling the growth of the Europe pharmaceutical excipients market . Technological advancements in the formulation of medicines with the help of excipients are boosting the market growth in the country. Pharmaceutical companies are launching excipients as a stabilization aid for biologics. In April 2020, DFE PHARMA launched the first in this BioHale range; with BioHale, the new excipient portfolio for biologics, DFE Pharma offers the highest purity excipients to be used in the formulation. Additionally, in June 2019, DFE Pharma, a global excipient supplier of the pharmaceutical industry, announced the US launch of their excipient eStore. This new e-commerce channel enabled pharmaceutical, biotech, and nutraceutical companies to order small quantities of GMP materials delivered fast to their doorstep.
Europe Pharmaceutical Excipients Market Revenue and Forecast to 2028 (US$ Million)
Europe Pharmaceutical Excipients Market Segmentation
The Europe pharmaceutical excipients market is segmented into type, clinical indication, functionality, application, end user, and country.
Based on type, the Europe pharmaceutical excipients market is segmented into bioresorbable polymers & lipids & liposome-based formulation, oleochemicals, sugars, cellulose, starches, petrochemicals, plant protein & polyols & cyclodextrins, inorganic chemicals, and others. The inorganic chemicals segment registered the largest market share in 2022.
Based on clinical indication, the Europe pharmaceutical excipients market is segmented into cancer, metabolic, infectious diseases, dental, ophthalmic, gene therapies, and others. The cancer segment registered the largest market share in 2022.
Based on functionality, the Europe pharmaceutical excipients market is segmented into coloring agent & coating agents, sweetener & flavoring agents, suspending & viscosity agents, preservative & controlled-release, antioxidant & oil, tablet filler & diluents, binders & compression aids & granulating agents, emulsifiers, and others. The tablet filler and diluents segment registered the largest market share in 2022.
Based on application, the Europe pharmaceutical excipients market is segmented into parenteral, orals formulations & tablets, capsules, liquid & injectable, physicochemical excipient container interactions in prefilled syringes, nutraceuticals & OTC, topical, and others. The orals formulations & tablets segment registered the largest market share in 2022.
Based on end user, the Europe pharmaceutical excipients market is segmented into biopharma industries, pharma industries, animal health, and others. The pharma industries segment registered the largest market share in 2022.
Based on country, the Europe pharmaceutical excipients market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Germany dominated the market in 2022.
Archer-Daniels-Midland Co, AshLand Inc, Avantor Inc, BASF SE, Evonik Industries AG, JRS PHARMA GmbH & Co. KG, MEGGLE GmbH & Co KG, Roquette Freres SA, The Dow Chemical Co, and The Lubrizol Corp are among the leading companies operating in the Europe pharmaceutical excipients market.
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