The pharmaceutical excipients market is bound to witness a CAGR of 6.7% between 2015-2021. The current scenario is such that technology is making inroads into the healthcare vertical, which, in turn, reduces cumbersome in-person interactions with the caregiver. Telehealth is expected to outlive physical meetings in the forecast period. This would be the state of the health care vertical in the future.
According to the latest market report published by Persistence Market Research, titled “ Global Market Study on Pharmaceutical Excipients: Rising Drug Demand in the Emerging Asia Pacific Market to Drive Demand for Multifunctional Excipients ”, revenue from the global pharmaceutical excipients market to expand at a CAGR of 6.7% during the forecast period 2015 – 2021.
In the report, the global pharmaceutical excipients market is analyzed on the basis of chemistry type (i.e., source of origin), application type, functionality, and region. Based on the type of chemistry, the overall market has been segmented into excipients of plant, animal, mineral, and synthetic origin.
Based on functionality, the market has been segmented into binders (binders, coatings, and fillers), glidants, diluents, disintegrants, and others (solvents, co-solvents, antimicrobial agents, lubricants, colorants, emulsifiers, and humectants). By application type, the market has been segmented into oral, topical, parenteral, and other formulations, including suppositories, intramuscular, and ophthalmic preparations.
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In the general market, oral solid dose formulations are expected to experience increased acceptance due to ease of consumption by patients worldwide. Consequently, the oral application type segment is expected to experience a value increase from US$3,327.8 Mn in 2015 to US$5,094.2 Mn by the end of 2021.
- BASF SE,
- evonik Industries Ag,
- Innophos Holdings Inc.,
- the Lubrizol Corporation,
- the dow Chemical Company,
- Wacker Chemie AG and
- ashland inc.
- Other.
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The main drivers of the market include the increasing demand for sustained release and controlled release formulations, especially in oral applications, and an increased demand for generics. Sustained and extended release formulations are gaining in popularity as they help maintain patient safety through a reduced number of drug doses, but with increased drug efficacy. In addition to these factors, the increasing incidence of chronic diseases in the regions has stimulated the demand for essential medicines, which is expected to drive the demand for excipients during the forecast period.
Frequent physical audits of excipient manufacturing facilities by regulatory agency officials lead to the imposition of substantial operating costs on excipient manufacturers, hampering excipient revenue growth over the forecast period . Other market deterrents include a long gestation period before a new excipient is formally accepted in the industry. However, the situation is expected to improve in the coming years, with individual economies formulating their own guidelines for good manufacturing and distribution practice in collaboration with the International Pharmaceutical Excipients Council.
Based on regions, the market has been divided into North America, Latin America, Europe, Asia-Pacific, and MEA. Developed pharmaceutical markets such as the US and the EU are expected to emerge as the main supply markets, while economies such as India, China and Brazil are expected to emerge as the main supply countries for raw materials such as cellulose, starch , lactose, etc .
The formalization of good manufacturing practices for excipients is an urgent need in the global excipients market, in order to meet the growing demand for higher purity excipients in applications such as parenteral forms. According to various trade associations and regulatory agencies, the global acceptance of excipients by drug manufacturers is a relatively long process, taking around seven to 10 years. This factor is expected to lengthen the revenue conversion period for excipient manufacturers.
This report evaluates trends by chemistry type, application type, functionalities, and regions to provide analytical insights into the potential emerging demand for particular pharmaceutical excipients in specific regions. North America is estimated to dominate the pharmaceutical excipients market, accounting for a peak share of the overall market revenue by the end of 2015.
By the end of 2021, the North American and European markets are expected to account for more than three-fifths of the global pharmaceutical excipients market revenue. In terms of market share by value, North America is estimated to maintain its dominant position, posting a CAGR of 6.9% over the forecast period.
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The global market for pharmaceutical excipients is segmented as follows:
By source of origin
- Plant-based excipients
- Excipients of animal origin
- Mineral-based excipients
- Synthetic excipients
By type of application
- Oral Formulation
- topical formulation
- Parenteral Formulation
- Others
By Functionality
- folders
- gliders
- thinners
- Disintegrants
- Others
By region
- North America
- Latin America
- Europe
- Pacific Asia
- Middle East and Africa
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