Asia Pacific Biopharma Excipients Market Size, Share, Growth, Trends and Forecast Report
by Susan Hill Business ConsultantThe Asia Pacific biopharma excipients market size is
poised to reach USD 791.4 million by 2025, according to a new report by Grand
View Research, Inc., exhibiting a CAGR of 6.63% during the forecast period.
Patent expiry of blockbuster biologics such as Erbitux, Rituxan, Herceptin,
Avastin, Aranesp, and Enbrel by 2030 is encouraging investments in biosimilars
R&D by biopharma players. Soaring need for novel additives for development
of biologics such as those enhancing lyophilization performance to improve
stability of biologics is anticipated to boost the demand for excipients.
As per drug sales record of 2016, eight out of ten top-selling drugs are biologics.
Upcoming patent expiry of biologics is leading to increased R&D for
biosimilar formulations. Biopharma players in the market are adopting price
reduction strategies in order to promote their products. This is triggering the
need for consideration of pricing strategy among excipient manufacturers.
Presence of challenges in development of a stable form of biotherapeutic
is urging manufacturers to develop novel excipients. Processing and storage of
biomolecules are complicated as these products undergo degradation after a
slight change in environmental conditions. Rising demand for chemicals that are
compatible with these biomolecules and serve additional functions such as
binding, bulking, and efficient delivery is stimulating the growth of the
market. Technological advancements, such as implementation of nanotechnology in
the development of novel compounds to enhance drug delivery, are likely to drive
the market. For instance, an Australian provider of microencapsulation for drug
delivery, Ceramisphere, expanded its operations for production of nanoparticles
with extended-release capacity.
Furthermore, Asian countries such as India & China serve as major
markets for biogenerics. Key pharmaceutical players in the market are
increasing their R&D activities on follow-on-biologic. Biologics R&D is
outsourced to CROs in the region as a consequence of cost efficiency provided
by them, which is consequently boosting the demand for excipients.
Further key findings from the report suggest:
- Carbohydrates accounted the largest revenue share due to substantial
product penetration in the market owing to higher availability of raw
materials as well as easy molecular processing characteristics
- In terms of revenue, the polyols segment is projected to expand at a
CAGR of 6.90% during the forecast period
- Japan dominated the market in terms of revenue. However, in terms of
sale volume, the Japanese economy was not on the top as a consequence of
high product pricing
- In February 2014, International Pharmaceutical Excipients Council of
India (IPEC) was launched. Leading international pharmaceutical companies
are founder members of this council, which includes Dow Chemicals,
Lubrizol, BASF, SPI Pharma, Colorcon, Indchem International. It is
estimated to assist the government of India in evolving direction,
standards, and development of the excipient industry in the country, thus
working in favor of the market
- In August 2016, China FDA announced to review excipients as a part
of new drug application. The former system considered separate review
approvals for a drug, its excipient, and its active ingredient.
- Some key companies present in the market are Roquette, DFE Pharma,
Pharmonix, Spectrum Chemical Manufacturing Corp., IMCD, Clariant, Signet
Chemical Corporation Pvt. Ltd., Sigachi Industries Pvt. Ltd., ABITEC,
Colorcon, Meggle AG, SPI Pharma, and BASF SE.
Access full
research report on Asia Pacific biopharma excipients market:
www.grandviewresearch.com/industry-analysis/asia-pacific-biopharma-excipients-market
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Created on Apr 23rd 2020 16:22. Viewed 450 times.