LONDON–Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Pharmaceutical Excipients Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of pharmaceutical excipients and acts as an all-inclusive guide for making smart purchasing decisions.
“The growth of the pharmaceutical excipients market can be attributed to the high demand from its end-user segments, which include finished medicine manufacturers and clinical research organizations that focus mainly on the development of new APIs and excipients for use in therapeutics,” says SpendEdge procurement analyst A Kowshik. “Also, suppliers are adopting new technologies, such as nanotechnology, and chromatography techniques for enhancing the capabilities of excipients produced,” added Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Pharmaceutical Excipients Market:
- The emergence and growth of biologics and biosimilars
- The rise in use of nanotechnology in medicines
- Increasing use of excipients for identifying counterfeit medicines
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The emergence and growth of biologics and biosimilars:
The pharmaceutical excipients market is influenced by the use of biologics and biosimilars in the pharmaceutical industry. This rise in usage has led to an increase in demand for new excipients that have the ability to cater to the individual process needs of the different biologic formulations and specialty excipients. Also, the demand for excipients has increased due to the growth in the number of biosimilars in the market.
The rise in the use of nanotechnology in medicines:
The incorporation of nanotechnology capabilities in drugs helps to improve their effectiveness and also facilitates capability enhancements of excipients in the market. It also helps in enhancing the solubility and bioavailability of APIs. Moreover, suppliers are seeking and developing new techniques using nanotechnology to safeguards the passage path of the drugs from toxicity while enhancing the pharmacological activity.
Increasing use of excipients for identifying counterfeit medicines:
Counterfeiting of drugs is a major problem that is on the rise across various geographies. There is a high demand for the use of excipients for identifying the authenticity of different types of medicines available in the market. This is mainly because the use of excipient analysis techniques helps in reducing the cost of testing authenticity of medicines.
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