The market for Polymer Excipients is expected to grow at a CAGR of over 6% during the forecast period. Major factors driving the market studied are growing pharmaceuticals industry and rising demand for polymer excipients from coatings application. On the flipside, stringent rules by regulatory bodies and concerns to meet the required quality of product are the major restraints, which are expected to hinder the growth of market.
– Rising trend for biopharmaceuticals across the globe is expected to offer various lucrative opportunities for the growth of market.
– By product type, polyvinylpyrrolidone (povidone) segment is expected to dominate the market owing to the increase in the demand due to its multifunctional abilities.
– Europe region dominated the polymer excipients market across the globe with the largest consumption from countries such as Germany, United Kingdom, and France.
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Key Market Trends
Increasing Demand for Polyvinylpyrrolidone (Povidone)
– Polymer excipients are the substances which are formulated alongside the active ingredient of a medication. They consist of macromolecular compounds of natural origin such as gelatin, semisynthetic compounds such as cellulose derivatives, and synthetic compounds such as polyethylene glycols.
– The increasing demand of polyvinylpyrrolidone in the pharmaceutical industry owing to its unique ability to get readily absorbed in the body is expected to propel the polymer excipients market during the forecast period.
– Additionally, polyvinylpyrrolidone has superior properties such as good solubility, superb film forming, and physiological impermissibility. Owing to these properties, it is widely used in manufacturing tablets, capsules, oral liquids, sterilization disinfectant, and injection. Due to these factors, its demand is expected to increase during the forecast period, which would stimulate the polymer excipients market.
– The global polyvinylpyrrolidone (povidone) market is expected to grow at a CAGR of over 8% during the forecast period. This is anticipated to positively impact the growth of polymer excipients market during the forecast period.
– Owing to all the above-mentioned factors for polymer excipients, its market is expected to grow rapidly over the forecast period.
Europe Region to Dominate the Market
– Europe region is expected to dominate the market for polymer excipients during the forecast period. In countries like United Kingdom, Germany, and France, owing to increasing demand from various applications such as binders, coating agents, flavors, preservatives, and sweeteners coupled with growing pharmaceutical industry in the region and growing old age population, the demand for polymer excipients has been increasing in the region.
– The increased utilization of excipients in oral solid dosage form (OSDF) along with increased R&D and improved medical infrastructure has led to an increased consumption of polymer excipients in pharmaceutical drugs in the region.
– Additionally, polymer excipients are used as binders for active ingredients in therapeutic drugs so that the active ingredients can be absorbed easily. They are inactive agents and do not have any therapeutic effect on the medicine. Also, they help in maintaining the dosage, balance and efficient delivery of the therapeutic drug. Due to these factors, the demand of polymer excipients is increasing, which expected to stimulate its market during the forecast period.
– The Europe pharmaceuticals drugs market is expected to grow at a CAGR of over 4% during the forecast period and is expected to reach a market value of USD 220 billion by 2027. This is likely to provide lucrative opportunities for the polymer excipients market during the forecast period.
– Some of the major companies operating in Europe region are – BASF SE, Dow, and Evonik Industries AG.
– The aforementioned factors, coupled with government support, are contributing to the increasing demand forpolymer excipients during the forecast period.
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