Global Pharmaceutical Excipient Market – Overview
With the growing advancement in the pharmaceutical industry, the need to satisfy patient’s therapeutic needs is also rising. Pharmaceutical raw materials and APIs pharmaceutical excipients are crucial for drug delivery within the body. Apart from active ingredients, inactive excipients play a major role in formulation development.
Pharmaceutical excipients are substances other than the pharmacologically active drug or pro-drug that includes in the manufacturing process or are contained in a finished pharmaceutical product dosage form. Usually, an excipient has no medicinal properties. Its basic purpose is to reorganise the manufacturing of the drug product and to facilitate physiological absorption of the drug molecule.
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According to a recent study report published by the Market Research Future analysts, the global pharmaceutical excipient market is currently very steady and growing at a moderate rate. This market is mainly driven by the factors such as increasing demand for oral solid pharmaceutical drugs and emergence of novel therapeutics on account of the upsurge in the number of pharmaceutical industries. Moreover, growing awareness of the functional benefits of excipients in pharmaceutical industry, and patent expiries of several blockbuster drugs have positively impacted the overall growth of the market. However, stringent government regulations and high cost of production of these recipients have somehow reserved the growth of the market.
Pharmaceutical excipient is a broad array of substances blended with active ingredients into desired finished dosage forms. The pharmaceutical industry has gradually recognized the importance of excipients in aiding active pharmaceutical ingredients to achieve better functionality.
There are 21 categories of excipients for exhibit different levels of relevance to their pharmaceutical product formulations from as low as 19 percent for glidants up to 60 percent coatings. The top 5 most relevant categories of excipients are coatings, acids, solvents, binders, and emulsifiers. Coatings and binders are commonly used in oral solid dosage forms (OSDF) such as tablets and capsules, while solvents, emulsifiers, and buffers are prevalent in topical products.
The global pharmaceutical excipient market consists of number of pharmaceutical drug manufacturers, healthcare providers involved in the market. The market demonstrates steady growth. Further resulting in intensified competition. Top players are investing heavily in R&D and clinical trials to develop effective products in the pharma market space.
The global market consist of players such as Ashland, Inc. (U.S.), BASF SE (Germany), Croda International PLC (U.K), Evonik Industries Ag (Germany), Ferro Corporation (U.S.), FMC Corporation (U.S.), kzo Nobel NV (Netherlands), P&G Chemicals (U.S.), The Dow Chemical Company (U.S.) and others. These are some of the prominent players at the forefront of competition in the global pharmaceutical excipient market and are profiled in MRFR Analysis report.
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Global Pharmaceuticals Excipients Market Segmentation
The global market for pharmaceuticals excipients can be segmented on the basis of product, functions, applications, and region.
The market has been segmented into organic and inorganic chemicals based on product.
The market has been segmented into glidants, lubricants, fillers, coatings, preservatives, disintegrants, binders, and others on the based on functions. Fillers have been accounted to hold the largest market share. They provide ease of administration and improve the taste of the formulation. They also offer ease in preparation, stability, shipping, packaging, and dispensing of drugs.
The market for pharmaceuticals excipients has also been segmented into parenteral, oral, topical, and advanced delivery system based on applications. Oral and topical dosage forms are anticipated to drive the pharmaceuticals excipients market growth. Consumption of excipients is witnessed to be high in oral dosage forms like capsules, tablets, and liquids, compared to parenteral. Local players mark their entry in pharmaceuticals with oral dosage forms as they are easier to manufacture. Also, with increasing topical solutions such as gel, cream, skin patch, and eye drops in pain management and dermatology, demand for excipients is also expected to grow at a steady pace.
Global Pharmaceutical Excipient Market – Regional Analysis
The global pharmaceutical excipient market is growing at a moderate rate. This market is greatly benefitted by the increased aging population in the major regions all across the world. America region captured a significant share of the global pharmaceutical excipient market. American pharmaceutical market is well established with number of major pharmaceutical companies based in this region. High demand of over the counter drugs, rising prevalence of the chronic diseases leading to the high demand for the drugs. Rise in drug development has increased demand for the pharmaceutical excipients greatly in this region.
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European market is second highest revenue generator after America. Europe pharmaceutical excipient market has benefited by the presence of some major pharmaceutical companies in this region. Moreover, increasing patient pool for chronic diseases and changing over the counter drug scenario are driving the growth for Europe pharmaceutical excipient market.
Asia Pacific region is the fastest growing region in pharmaceutical excipient market owing to the rising population with the acute and chronic health problems. Pharmaceutical industry has grown tremendously in this region in last couple of decades which has definitely impacted on the growth of the pharmaceutical excipients market. Apart from that, low cost of raw materials, availability of cost-effective workforce and untapped resources it offers in terms of manufacturing facilities has boosted growth of this market in Asia Pacific region.
Middle East & Africa region is still in the growing phase with new opportunities are being created day by day. Many of the big pharmaceutical companies are expanding their business in the Middle Eastern region which has helped the growth of the pharma market in these region. Currently Middle East & Africa contributes least in the global pharmaceutical excipient market.
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