Albany, New York, March 14, 2017: MarketResearchReports.biz now features a report, titled “Global Pharmaceutical Excipients Market 2017-2021.” The report provides a 360-degree view of the global pharmaceutical excipients market. As per the findings of the report, the market is estimated to progress steadily at a CAGR of over 6.0% from 2017 to 2021.
The burgeoning demand for functional excipients, owing to their extensive use in advanced drug delivery, is providing a significant boost to the growth of the global pharmaceutical excipients market. Moreover, several players, with the help of latest technologies, are focusing towards innovating techniques used in the production of excipients. This, in turn, is working in favor of the market. Continuous advancements in nanotechnology and biotechnology are also augmenting the global market.
On the other hand, the patent expiration of several blockbuster drugs, along with the loss of patents, is adversely affecting the growth of the market. Furthermore, slashed budgets for research and development activities and stringent regulatory scenario pertaining to approval on the usage of excipients are hampering the growth of the market.
Nevertheless, the introduction of generic drugs with new composition is likely to emerge as a light at the end of the tunnel for market players. The evolution of these drugs, especially in the form of oral dispersible tablets, is anticipated to facilitate the growth of the market in the near future as they are easy to consume.
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On the basis of functionality, the global pharmaceutical excipients market is segmented into coating agents, binders and fillers, flavoring agents and colorants, disintegrants, preservative and antioxidants, glidants and lubricants, and sweeteners. The binders and fillers segment will continue to dominate the market until 2021. While binders are used to hold the ingredients in tablets together, fillers are used to add mass in a drug.
Based on type, the market is divided into organic and inorganic. Organic accounted for the lion’s share in the market in 2016. Products such as petrochemicals, carbohydrates, oleochemicals, and proteins fall under this category. The increasing demand for organic pharmaceutical excipients in the pharmaceutical industry is driving the growth of the segment.
Geographically, the Americas will continue to represent the leading share in the revenue pie until 2021. The U.S. is expected to be at the forefront of growth during the forecast period. The widening base of geriatric population, growing consumer expenditure on healthcare, and rising incidence of chronic diseases such as diabetes and obesity are supplementing the growth of the region. Brazil will also be a key contributor to the growth of the region, owing to the flourishing growth of the pharmaceutical industry.
The presence of a raft of international and regional players point towards the highly fragmented nature of the global pharmaceutical excipients market. The leading players in the market are Ashland, Evonik, BASF, Dow Chemical, ADM. The dominance of international players can be their high geographical outreach along with large production facilities located worldwide. However, these players face stiff competition from regional players in terms of price and product quality. Some other prominent companies operating in the global pharmaceutical excipients market are FMC, Associated British Foods, Roquette Pharma, and Lubrizol.
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