Binders Excipients Market Size, Share, Growth, and Industry Analysis, By Type (Cellulosic, Co-Processed Compressible Excipients, Lactose, Polyols, Povidones, Starches and Polysaccharides and Others), By Application (Tablets/Capsules, Dry Form and Solvents and Wet Form) and Regional Forecast to 2028

Updated On: 29 April 2024

BINDERS EXPIENTS MARKET REPORT OVERVIEW

The global binders excipients market size was USD 1.180 billion in 2019 and the market is projected to touch 1.704 billion by 2028, exhibiting a CAGR of 5.3% during the forecast period.

Binders and excipients play crucial roles in pharmaceutical formulations, contributing to the overall stability, consistency, and effectiveness of medications. Binders, also known as adhesives or granulating agents, are essential components that help hold the active pharmaceutical ingredients (APIs) together in a cohesive form. They facilitate the formation of tablets or capsules by providing the necessary binding strength to ensure the integrity of the dosage form. Common binders include starch, cellulose derivatives, and polyvinylpyrrolidone (PVP), among others. The selection of a binder depends on factors such as the desired release profile, mechanical properties, and compatibility with other formulation components.

Excipients, on the other hand, encompass a broad category of non-active substances that are added to pharmaceutical formulations to aid in the manufacturing process, improve the stability of the drug product, and enhance its overall performance. Excipients can serve various functions, such as fillers, diluents, disintegrants, lubricants, and coloring agents. Examples of excipients include lactose, microcrystalline cellulose, magnesium stearate, and talc. These substances are carefully chosen to meet specific requirements, ensuring the safety, efficacy, and quality of the final pharmaceutical product. The combination of suitable binders and excipients is critical in achieving the desired drug delivery characteristics and ensuring the success of pharmaceutical formulations.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering; with the binders excipients market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic led to disruptions in global supply chains, affecting the production and transportation of raw materials for pharmaceutical manufacturing, including binders and excipients. Lockdowns, restrictions, and logistic challenges impacted the availability and timely delivery of these critical components. The economic uncertainties and disruptions caused by the pandemic might have influenced market dynamics, including pricing, competition, and investments in research and development for new and improved binders and excipients.

Pharmaceutical companies may have redirected their resources and efforts toward developing and manufacturing drugs related to COVID-19. This shift in priorities could have influenced the demand for specific types of binders and excipients needed for these formulations. The market is anticipated to boost the binders excipients market growth following the pandemic.

LATEST TRENDS

"Advancements in Excipient Technology to Drive Market Growth"

Ongoing research and development efforts have led to advancements in excipient technology. Innovations include the development of novel excipients with enhanced functionalities, improved solubility, and compatibility with various drug formulations. There has been a rising demand for excipients that not only act as inert carriers but also offer functional properties, such as improved drug delivery, stability, and bioavailability. Excipients with multifunctional roles, like co-processed excipients, have gained attention. The increasing development of biopharmaceuticals and complex drug formulations has driven the demand for excipients that can address the specific challenges associated with these advanced products. Excipients designed for stability, controlled release, and compatibility with biologics are in high demand. These latest developments are anticipated to boost the binders excipients market share.

BINDERS EXPIENTS MARKET SEGMENTATION

By Type                  

Based on type the global market can be categorized into Cellulosic, Co-Processed Compressible Excipients, Lactose, Polyols, Povidones, Starches and Polysaccharides and Others.

Cellulosic Excipients: Cellulosic excipients are derived from cellulose, a natural polymer found in plant cell walls. They are widely used in pharmaceutical formulations due to their versatility and compatibility with various active pharmaceutical ingredients (APIs).

Co-Processed Compressible Excipients: Co-processed excipients are blends of two or more individual excipients, created through a specific manufacturing process. Compressible excipients, in particular, are designed to improve the compressibility of the powder mixture during tablet manufacturing.

Lactose: Lactose is a disaccharide sugar derived from milk. In the pharmaceutical industry, lactose is commonly used as a filler and diluent in tablet and capsule formulations.

Polyols: Polyols, such as mannitol and sorbitol, are sugar alcohols commonly used as excipients in pharmaceutical formulations. They are often used as sweeteners and bulking agents.

Povidones: Povidones, also known as polyvinylpyrrolidone (PVP), are synthetic polymers with a wide range of applications in the pharmaceutical industry. They are water-soluble and versatile excipients.

Starches and Polysaccharides: Starches and polysaccharides, such as corn starch and hydroxypropyl cellulose, are natural polymers derived from plant sources.

By Application

Based on application the global market can be categorized into Tablets/Capsules, Dry Form and Solvents and Wet Form.

Tablets/Capsules: Binders play a crucial role in the formulation of tablets and capsules. They are used to impart cohesiveness to the powdered blend, ensuring that the tablet or capsule maintains its structural integrity after compression or encapsulation.

Dry Formulations (Powders): Binder excipients are used in dry formulations, such as powders for reconstitution, inhalation powders, or dry granules for direct compression.

Solvents (Liquid Formulations): Binder excipients can be employed in liquid formulations where the active ingredient is dissolved or suspended in a solvent.

Wet Formulations (Granules/Granulation): Wet granulation is a common manufacturing process for tablets, where binders are used to create granules from a blend of powders.

DRIVING FACTORS

"Increasing Drug Development Activities to Boost the Market"

The ongoing research and development efforts in the pharmaceutical sector, aimed at discovering new drugs and improving existing formulations, contribute to the demand for specialized binders and excipients. The development of novel drug delivery systems and formulations often requires innovative excipients to meet specific requirements. The overall growth and expansion of the pharmaceutical industry play a significant role in driving the demand for binders and excipients. As pharmaceutical companies continue to develop and manufacture new drugs, there is a parallel need for high-quality excipients to ensure the stability and effectiveness of these formulations.

"Advancements in Drug Delivery Technologies to Expand the Market"

The evolution of drug delivery technologies, including controlled-release formulations, oral dispersible tablets, and targeted drug delivery systems, drives the demand for excipients with specific functionalities. Binders and excipients are crucial in achieving the desired drug release profiles and enhancing bioavailability. There is a growing emphasis on developing patient-centric formulations, including orally disintegrating tablets, flavored medicines, and easy-to-swallow dosage forms. Binders and excipients play a crucial role in formulating drugs that are palatable, easy to administer, and enhance patient compliance. These factors are anticipated to drive the binders excipients market share.

RESTRAINING FACTOR

"Cost Constraints and Pricing Pressures to Potentially Impede Market Growth"

Cost considerations are crucial in the pharmaceutical industry, and excipients contribute to a significant portion of the overall production costs. Pricing pressures, especially in generic drug manufacturing, may lead to cost-cutting measures, impacting the selection and quality of excipients used in formulations. Economic uncertainties and fluctuations in currency exchange rates can impact the overall costs associated with excipient production and distribution. Companies operating in multiple regions may face challenges in managing these economic variables. The factors are anticipated to hinder the growth of the binders excipients market growth.

BINDERS EXPIENTS MARKET REGIONAL INSIGHTS

"North America is Dominating the Market with Large Pharmaceutical Industry Presence"

"The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa."

North America, particularly the United States, is home to a large and well-established pharmaceutical industry. The presence of numerous pharmaceutical companies engaged in drug development, manufacturing, and research and development contributes to the high demand for binders and excipients. The North American pharmaceutical industry is known for its emphasis on innovation and research. Ongoing developments in drug formulations, drug delivery technologies, and novel therapeutic approaches drive the demand for specialized binders and excipients. North America boasts a robust healthcare infrastructure, with advanced healthcare facilities, research institutions, and a high level of investment in healthcare. This infrastructure supports the development and manufacturing of pharmaceutical products, including the use of quality binders and excipients.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Ashland [U.S.]
• BASF (Badische Anilin und Soda Fabrik) [Germany]
• Colorcon [U.S.]
• Croda International [U.K.]
• EMD Millipore [U.S.]

INDUSTRIAL DEVELOPMENT

December 2022: Hypromellose, also known as hydroxypropyl methylcellulose (HPMC), manufactured by Dow Inc. and DuPont de Nemours, Inc. is a cellulose derivative and a key ingredient in pharmaceutical formulations. It is a semi-synthetic, water-soluble polymer derived from cellulose through chemical modification. Hypromellose is widely utilized in the pharmaceutical industry due to its versatile properties and its ability to serve various functions in different formulations.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.