Biopharmaceuticals Excipients Market Size, Share, Growth Analysis, By Dosage Form(Bare Metal Stents (BMS), Drug-Eluting Stents (DES), and Bioresorbable Vascular Scaffold (BVS) Solid, semi-solid), By End user(Pharmaceutical and Biopharmaceutical Companies, Contract Formulators, Research Organizations and Academics, and Others), By Region - Industry Forecast 2024-2031

Biopharmaceuticals Excipients Market size was valued at USD 1.44 Billion in 2022 and is poised to grow from USD 1.522 Billion in 2023 to USD 2.37 Billion by 2031, at a CAGR of 5.70% during the forecast period (2024-2031).

The global biopharmaceuticals excipients market features a highly competitive and dynamic landscape, driven by the increasing demand for biologic drugs and the continuous advancements in pharmaceutical technology. The market is characterised by the presence of numerous excipient manufacturers and suppliers, each vying for market share and striving to provide innovative solutions to pharmaceutical and biopharmaceutical companies. Companies in the excipients market compete based on product offerings, product quality, technological advancements, and pricing strategies. To gain a competitive edge, excipient manufacturers often invest heavily in research and development to develop specialised excipients that cater to the unique requirements of biologic drug formulations. Moreover, strategic partnerships, collaborations, and acquisitions are common practices in the market, enabling companies to expand their product portfolios and geographic reach. The focus on regulatory compliance and adherence to stringent quality standards are critical factors in the competitive landscape. Companies that can meet and exceed regulatory requirements and maintain consistently high product quality are more likely to gain the trust and preference of pharmaceutical and biopharmaceutical companies. 'Ashland Inc.', 'BASF SE', 'Croda International Plc', 'DowDuPont Inc.', 'Evonik Industries AG', 'Roquette Frères', 'Colorcon, Inc.', 'FMC Corporation', 'Kerry Group', 'Lubrizol Corporation', 'Merck KGaA', 'Archer Daniels Midland Company (ADM)', 'Innophos Holdings Inc.', 'Pfanstiehl, Inc.', 'Spectrum Chemical Manufacturing Corp.', 'Signet Chemical Corporation Pvt. Ltd.', 'Finar Limited', 'JRS Pharma', 'Cargill, Incorporated', 'Croda International Plc'

The increasing prevalence of chronic diseases, coupled with the rising aging population, has led to a surge in the demand for biopharmaceutical drugs. Biologics offer targeted and more effective treatments, driving the need for specialised excipients to enhance drug stability, solubility, and delivery, thus propelling the market's growth.

Increased Demand for Specialty and Functional Excipients: There was a growing demand for specialised excipients tailored to the unique requirements of biopharmaceutical formulations. Specialty excipients with functionalities such as protein stabilisation, controlled drug release, and improved solubility were gaining popularity as biologic drugs continued to advance.

Among the regions, North America stood as the dominant market for biopharmaceuticals excipients. The United States and Canada have well-established pharmaceutical and biotechnology industries, with a significant focus on research and development of biologic drugs. The presence of major pharmaceutical companies and contract manufacturers in the region drove the demand for excipients used in biopharmaceutical formulations. Additionally, the robust regulatory framework and favourable reimbursement policies in North America further supported the market's growth.