Southeast Asia’s excipients market is expected to grow at a rapid pace, according to our latest research.
“The growth will occur because the region’s pharmaceutical industry is still developing and has a huge focus on local production of generic drugs,” Shilpi Mehrotra, Industry Manager in our Chemicals sector, said in a recent webinar entitled Opportunities in Pharmaceutical Excipients in the Next Five Years. The reason behind the surge in excipients demand in India, specifically, includes the continued trend of outsourcing generics and increasing demand from the domestic market.
China will see strong growth as well. According to Mehrotra, this is also due to a focus on local production, plus an emphasis on the modernization of traditional Chinese medicine to both improve it and compete with the Western medicine.
The markets of Europe and United States, meanwhile, will observe growth due to the re-industrialization of drug production, along with some innovation.
And lastly, Japan, which Mehrotra said has had some “tough” years, is expected to see demand for excipients recover, most likely due to demographics that include an aging population.
Which pharmaceutical excipients are forecast to have the strongest growth in the time period 2021-2026? Here’s the information from Mehrotra:
- Cellulosics tops the list; they’re expected to comprise the fastest-growing group of excipients because of their wide range of properties, versatility, and compatibility with different APIs.
- Matrix formers will grow because of the increasing demand for sustained-release functionality, which is stemming from the need for patient compliance and innovation.
- Formulated coating is increasingly seen as a more convenient – and a more cost-effective — method compared to developing in-house coating formulations.
- Lactose will continue to be a strongly preferred binder, worldwide, due to its high compatibility and cost effectiveness.
- Disintegrants will grow, mainly driven by ODTs.
As an honorable mention, Mehrotra notes that povidones, especially crospovidone, will be favored for use in solubility enhancement.
What else is going on in the aforementioned regions? And have they recovered from the COVID-19 pandemic? Watch the webinar here to find out. And for more information on excipients, check out Kline’s Specialty Excipients for Oral-Solid-Dosage-Form Pharmaceuticals: Global Market Analysis and Opportunities report, a comprehensive analysis that provides details in the functional category segments in each regional market with a focus on key trends, developments, changes, challenges, and business opportunities. The reports are expected to be published next month.
