Marine Pharmaceutical Excipients Market Size, Share, Opportunities, And Trends By Coverage (Agar, Alginate, Carrageenan, Others), By Formulation (Capsule, Liquid, Others), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2024 To 2029

The marine pharmaceutical excipients market is projected to grow at a steady rate during the forecast period.

Derived from marine organisms, particularly marine algae, inactive ingredients have emerged as pivotal components in the formulation and delivery of medications. In the contemporary landscape, there is a growing awareness and emphasis on environmental sustainability among consumers and regulatory bodies. This has led to an increased demand for natural alternatives to synthetic excipients, further highlighting the relevance of marine excipients. Moreover, the specific targeting abilities of marine excipients hold promise in catering to individual patient needs, aligning with the evolving landscape of personalized medicine.

Market Drivers

• Growing demand for generic drugs and pharmaceutical products.

The surge in demand for both generic drugs and pharmaceutical products is evident and carries significant implications for consumers and the healthcare system. Generic drug competition plays a crucial role in generating substantial savings, amounting to billions of dollars annually when compared to higher-priced brand-name drugs. A recent study by the FDA highlights the considerable impact of generic drugs approved in 2018, 2019, and 2020, resulting in approximately $53.3 billion in savings during the first year after approval. As drug consumption increases, coupled with a rise in chronic diseases, there is a corresponding uptick in the demand for marine-based pharmaceutical excipients. This trend is reflective of the pharmaceutical industry's efforts to meet the growing demand for effective and diverse drug formulations. The utilization of marine-based excipients aligns with both the demand for pharmaceutical innovation and the overarching goal of addressing the healthcare needs of an expanding patient population.

• Improvements in biotechnology

Advancements in the pharmaceutical field unlocked the potential of diverse marine organisms, resulting in the discovery of novel excipients boasting superior functionalities. Extensive research paved the way for an expanded range of marine excipients, each tailored to specific drug delivery needs. Reflecting a commitment to innovation, the announcement was made, for instance, in October 2019, Hispanagar launched QSol® High Solubility Agar which is a natural hydrocolloid extracted from red seaweed, possessed a unique characteristic – it dissolved at lower temperatures with less time compared to traditional agar. This introduction marked a significant step forward in providing pharmaceutical solutions that align with both efficacy and environmental considerations.

Market Challenges

• Regulatory challenges.

The entry of new excipients into the market faces challenges due to stringent regulations, demanding substantial investments and time for the approval process. This is particularly relevant in the context of Marine Pharmaceutical Excipients, where navigating regulatory requirements can be intricate and resource-intensive. The need for compliance with regulatory standards adds a layer of complexity, influencing the time and investment required for these marine-derived excipients to gain approval and access the market.

The marine pharmaceutical excipients market is segmented by formulation into capsules,  liquid, and others.

The Marine Pharmaceutical Excipients Market is segmented by formulation into capsules, liquid formulations, and other specialized forms. Capsules, being a popular and precise dosage form, benefit from marine-derived excipients that contribute to controlled release and overall drug performance. Liquid formulations, known for their versatility in drug delivery, leverage marine excipients to enhance solubility, stability, and bioavailability. Beyond these, specialized forms, including films, gels, and targeted drug release systems, are influenced by marine-derived excipients, offering distinct advantages in pharmaceutical applications.

Market Developments

• July 2023-  Roquette formally agreed to acquire Qualicaps through which Roquette aims to strengthen its position as a significant supplier to the pharmaceutical industry. The collaboration between these two entities is expected to play a pivotal role in advancing Roquette's strategic growth plan while simultaneously opening up new prospects for both Roquette and Qualicaps' customers and employees.
• November 2022- Merck introduced two new cosmetic active ingredients for the Asian Pacific market “RonaCare® JouvaMer” and “RonaCare® ReviMer” which are developed from brown seaweed. Functioning as excellent boosters for well-being and skin vitality, these ingredients find application in a broad spectrum of topical products, ranging from daily skincare to dermocosmetics.
• October 2021-  Cargill Beauty unveiled the launch of Satiagel™ VPC 614 Kappa Carrageenan which is designed to excel in high-gelling applications and solid formulations, complementing Cargill Beauty's commitment to providing a comprehensive range of carrageenan solutions.

Company Products

• BD DIFCO™- BD offers the BD DIFCO™ Marine Agar 2216 in a 500g. With a comprehensive range, BD provides over 400 distinct BD Difco™ and BD BBL™ brand media formulations and ingredients in dehydrated form, catering to the convenience of laboratory professionals and bioprocessing specialists alike.
• JRS Alginate - The comprehensive range of JRS Alginates offers a diverse selection of viscosities and particle sizes, ensuring optimized handling, process capability, tailored functionality, and ultimately, high consumer acceptance. Within the JRS "Alginate" collection, alginic acid serves as the foundational element from which the alginate salts and functional systems are derived. This specifically designed range addresses various application needs, with solubility characteristics in both cold and hot water. Each variant, including Sodium Alginate and Potassium Alginate, demonstrates unique properties such as gel formation with calcium and swelling in cold water. Notably, the versatility of JRS Alginates makes them a valuable resource for achieving customized solutions in a variety of applications.
• VIVAPHARM® Alginates- VIVAPHARM® Alginates offers a range of customizable products, tailored to meet specific application requirements. Among the diverse applications, alginates find use in disintegration and pH-controlled release within tablets. They can also create a "gel-raft" in anti-reflux applications and contribute to the formulation of flexible, clear, and glossy film strips and capsule shells. With ion exchange properties, alginates prove effective as wound-protective agents.

Market Segmentation

• By Coverage
  • Agar
  • Alginate
  • Carrageenan
  • Others
• By Formulation
  • Capsule
  • Liquid
  • Others
• By Distribution Channel
  • Online
  • Offline
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Others

1.  INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. MARINE PHARMACEUTICAL EXCIPIENTS MARKET BY COVERAGE

5.1. Introduction

5.2. Agar

5.3. Alginate

5.4. Carrageenan 

5.5. Others

6. MARINE PHARMACEUTICAL EXCIPIENTS MARKET BY FORMULATION

6.1. Introduction

6.2. Capsule

6.3. Liquid

6.4. Others

7. MARINE PHARMACEUTICAL EXCIPIENTS MARKET BY DISTRIBUTION CHANNEL

7.1. Introduction

7.2. Online

7.3. Offline

8. MARINE PHARMACEUTICAL EXCIPIENTS  MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. United States

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Spain

8.4.5. Others

8.5. The Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Israel

8.5.4. Others

8.6. Asia Pacific

8.6.1. Japan

8.6.2. China

8.6.3. India

8.6.4. South Korea

8.6.5. Indonesia

8.6.6. Thailand

8.6.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

10. COMPANY PROFILES 

10.1. BD

10.2. HiMedia Laboratories.

10.3. Pharma Excipients.

10.4. J. RETTENMAIER & SÖHNE GmbH

10.5. JRS PHARMA

10.6. Foodmate Co., Ltd

10.7. CD Bioparticles.

10.8. BLG.

10.9. MarkNature

10.10. Japan Trading Co., Ltd.

BD

HiMedia Laboratories.

Pharma Excipients.

J. RETTENMAIER & SÖHNE GmbH

JRS PHARMA

Foodmate Co., Ltd

CD Bioparticles.

BLG.

MarkNature

Japan Trading Co., Ltd.