Pharmaceutical Excipients Market Size and Growth Rate:
“The Global Pharmaceutical Excipients Market was valued at US$ 7.2 Bn in 2018 and is expected to grow at a significant CAGR over six years forecast period 2019-2025 owing to growing generics market coupled with increasing population across the globe”
Pharmaceutical Excipients Market Growth Drivers and Restraints:
The global pharmaceutical excipients market was valued at US$ 7.2 Bn in 2018 and growing at a CAGR of 5.1% over the forecast period owing to increasing geriatric population and rising consumption of oral drugs. Increasing number of pharmaceutical and contract manufacturing companies coupled with increasing demand for drug delivery system and rising demand for biological products fuels the growth of the market. Moreover, Growing orphan drugs adoption and availability of multifunctional excipients and direct compression technology in oral dosage formulation drives the growth of the market. Additionally, market players focus on novel therapeutics development and the combination of nanotechnology and drug formulations in excipients for the development of nano-coated tablets, vaccines, and nano-derived liposomes. Increasing prevalence of chronic diseases is the main factor that drives the growth of the market. However, Strict regulatory policies for the approval of the generic products as well as the chronic disease products and increasing cost of the excipients and time-intensive drug development process are expected to restrains the growth of the market.
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Organic chemicals segment accounted for higher revenue share
Based on product type, global pharmaceutical excipients market segmented Inorganic chemicals, organic chemicals, and petrochemicals. Organic chemicals segment market accounted US$ XX Mn in 2018 and projected to dominate over the forecast period owing to increasing use of organic chemicals in the pharmaceutical industry for the formulation of medications. Factors such as increasing number of pharmaceutical companies and contract manufacturing companies are expected to drive the growth of the market over the forecast years.
North America is expected to dominate Global Pharmaceutical Excipients Market
PBI’s global pharmaceutical excipients market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America is expected to account for larger revenue share in 2018 and the same trend is projected to follow over 2019-2025 owing to the presence of large number of market players with extensive production capabilities in the region and increasing geriatric population in the region increases the demand for pharmaceutical products. Europe is followed by the North America and is expected to grow with a significant CAGR over the forecast years. Asia Pacific dominates the growth rate over the forecast years owing to increasing number of generic players with good production capacities in the region and availability of labors at very low cost when compared to other regions drives the growth of the market over the forecast period.
Market Players are focusing on the launch of new products and expansion of company’s presence by strategic acquisition and collaborations.
Key player’s profiles in the report are Ashland Inc.(U.S.), AkzoNobel (Netherlands), The DOW Chemical Company (U.S.), Archer Daniels Midland Company(U.S.), Associated British Foods PLC (UK), Colorcon, Inc.(U.S.), BASF SE(Germany), Evonik Industries AG (Germany), Innophos Holdings Inc. (U.S.), J.M. Huber Corporation (U.S.), FMC Corporation (U.S.), Roquette Group (Nord-Pas de Calais), Croda International PLC (UK),Merck KGaA (U.S.) and Lubrizol Corporation (U.S.) to name a few.
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