Pharmaceutical Excipients Market Analysis by Top Players, Mega Trends, Sparkling Growth, Demand and Forecast to 2027
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.
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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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.
Key market players profiled in MRFR’s report include FMC Corporation, BASF SE, P&G Chemicals, Evonik Industries Ag, Ashland, Inc., Akzo Nobel NV, Croda International PLC, The Dow Chemical Company, and Ferro Corporation.
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 regions that are covered in the report are North America, South America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA). North America currently accounts for the lion’s share of the market. In addition, the region is likely to retain its dominant position throughout the assessment period. Presence several leading market players coupled with favorable government policies is supporting the growth of the market in North America. Europe is next in the packing order. The region will remain an important investment destination for market over the forecast period. Asia Pacific is the third largest market for pharmaceutical excipients and is likely to present lucrative opportunities in the foreseeable future. High rate of unmet healthcare need and demand for generic drugs are some of the factors having a positive impact on the regions market. Moreover, increased efforts towards bolstering the pharmaceutical sector present in the region is creating a favorable climate for market players operating in APAC.
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