Pharmaceutical Excipients Market – Top Players:
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.
Pharmaceutical Excipients Market Global Overview:
There are several functions of an excipient that is performs through drugs, its serves as glidant, binder or diluents. Introduction of excipients with multifunctional attributes has reflected positive on the market. Moreover, multifunctional excipients enable to drug-makers to reduce the overall cost of manufacturing. Pharmaceutical excipients are present in is a wide range of capsules, pills and tablets. Currently, excipients face negligible threat from alternatives. Pharmaceutical excipients are likely to gain further momentum in the forthcoming years. Demand for pharmaceutical products has continued to grow in recent years, reciprocal to the expanding patient pool.
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Global Pharmaceutical Excipients Market will capture an impressive growth rate during the review period (2016-2027). Pharmaceutical excipients play an important role in drug formulation. The pharmaceutical excipient industry is highly regulated and hence manufacturers need to get the approvals from regulatory bodied before they can launch a product commercially. There are several guidelines that manufacturers must comply with in order to start commercial distribution of excipients. Dosage is one of most important factors for finding the correct compatibility of excipient. These excipient dosages control and regulate drug release as well as contributes to taste masking.
Rising prevalence of chronic and acute diseases and a growing market for generic products owing to patent expiries are some of the governing factors. At the same time, development of the biopharmaceuticals and biosimilar industry is likely to open new windows of opportunities for market players in the years to come. However, there are several obstacles the hinder the market’s growth. String regulation on drug approval, fragmented regulatory guidelines from region to region, and a sluggish R&D pipeline are some of impediments impacting the market potentials. Duration and cost of new product development are usually extensive, which dampens manufacturers’ confident, reducing their will to participate.
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.
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.
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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