Plant Based Excipients Market: Exploring Opportunities through Market Share and Growth Projections
anujmyorbisAccording to TechSci Research report, “Plant Based Excipients Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global Plant Based Excipients Market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. Global Plant Based Excipients market is driven by the growing demand for natural and sustainable products, an increasing focus on patient safety, advancements in technology, regulatory support, and cost-effectiveness. Additionally, increasing research and development activities for the development of plant-based excipients that can be used to improve the solubility, stability, and bioavailability of drugs is expected to support the growth of global plant based excipients market in the coming years. Plant based excipients such as alginate, cellulose, starch, proteins, and gums have shown promise in various applications in the pharmaceutical industry.
Plant based excipients are a group of natural ingredients used in pharmaceutical formulations to help stabilize, disseminate, and deliver the active ingredients while ensuring proper dosage and efficacy. One of the major advantages of plant based excipients is their low toxicity and high biocompatibility, which makes them an ideal alternative to synthetic excipients. Moreover, they offer a high degree of formulation flexibility, which allows manufacturers to tailor the products according to the desired dosage form, release profile, and site-specific delivery. Global plant based excipients market has been driven by several factors, including the growing demand for natural and eco-friendly products, the increasing prevalence of chronic diseases, and the expanding nutraceutical and dietary supplements industry.
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The use of plant based excipients presents a lot of challenges in terms of cost, regulatory approvals, acceptance, scalability, among others. Scalability is a major concern hampering the growth of global plant based excipients market. While natural sources like corn, potatoes, and sugar cane are renewable, there may not be enough of these resources to meet the increasing demand for plant based excipients. Moreover, the quality of plant based excipients can vary depending on the source and conditions of cultivation, which can impact their efficacy and consistency. Plant based excipients need to meet strict regulatory requirements before they can be used in pharmaceuticals. The regulatory approval process can be time-consuming and expensive, making it difficult for smaller companies to develop and launch new plant based excipients, thereby slowing down the growth of global plant based excipients market. Also, the cost of plant based excipients can be higher than traditional excipients, which may limit their use in some applications. Furthermore, plant based excipients may not be compatible with all types of active pharmaceutical ingredients (APIs). This can limit their use in certain drug formulations and may require additional development and testing to ensure compatibility.
Global Plant Based Excipients Market can be segmented by type, by application, and by region. Based on type, the Global Plant Based Excipients market can be categorized into carbohydrates, proteins, polymers, minerals, glycoside & waxes, esters, and others. Carbohydrates segment dominated the global plant based excipients market in 2022 and will continue maintaining its dominance through 2028 on account of their widespread use in various drug formulations such as tablets, capsules, and suspensions to regulate drug release, improve drug solubility, and enhance the bioavailability of the active ingredient.
Regionally, North America is expected to witness highest growth in the forecast period on account of the fact that United States is one of the leading countries in the development of plant based excipients. The country has a strong research and development infrastructure, which has helped in the growth of the plant based excipients market. In the United States, there has been a growing interest in plant based excipients due to the increasing demand for natural and sustainable ingredients. The FDA has recognized many plant-based excipients as Generally Recognized as Safe (GRAS) for use in pharmaceuticals. The use of plant based excipients in cosmetics is also gaining popularity due to the trend towards natural and organic products.
Major companies operating in the Global Plant Based Excipients Market are:
- Roquette Frères SA
- EVONIK Industries, Inc.
- DFE Pharma GmbH & Co.KG
- Lonza Group
- BASF SE
- Novartis International AG
- FMC Corporation
- JRS Pharma LP
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“Asia Pacific is expected to register the highest growth in the global Plant Based Excipients Market owing to the growing demand from countries such as Japan, China, India, among others. Japan has a strong focus on traditional medicine, which includes the use of plant based excipients. There has been an increasing interest in the use of plant based excipients in pharmaceuticals in Japan. Japan is also known for its strict regulations on cosmetics, which has led to the increasing use of plant based excipients in cosmetics. Similarly, China has a long history of using traditional plant-based medicine. The use of plant-based excipients in traditional Chinese medicine has been well-established. In recent years, there has been an increasing interest in plant-based excipients for use in modern pharmaceutical products. ” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Plant Based Excipients Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Carbohydrates, Proteins, Polymers, Minerals, Glycoside & Waxes, Esters, Others), By Application (Binders & Diluents, Glidants, Lubricants & Disintegrants, Film Forming & Coating Agents, Plasticizers, Suspending Agents, Others), By Region and Competition”, has evaluated the future growth potential of Global Plant Based Excipients Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Plant Based Excipients Market.
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