Global pharmaceutical excipient market to reach US$7415.2 million by 2021
Report assesses trends by chemistry type, application type, functionalities and regions to offer analytical insights about the potential demand emerging for particular pharmaceutical excipients in specific regions.
According to a latest market report published by Persistence Market Research, titled "Global Market Study on Pharmaceutical Excipients: Increased Drug Demand in Emerging Asia Pacific Market to Fuel Demand Multi-Functional Excipients", revenue from the global pharmaceutical excipients market is expected to expand at a CAGR of 6.7% during the forecast period 2015–2021.
In the report, the global pharmaceutical excipients market is analysed on the basis of chemistry type (i.e., source of origin), application type, functionality, and region. Based on chemistry type, the overall market has been segmented into plant-based, animal-based, mineral-based and synthetically derived excipients. Based on functionality, the market has been segmented into binders (binders, coatings, and fillers), glidents, diluents, disintegrants, and others (solvents, co-solvents, anti-microbial agents, lubricants, colorants, emulsifiers, and humectants). By application type, the market has been segmented into oral, topical, parenteral formulations, and others, which includes suppositories, intra-muscular, and ophthalmic preparations. In the overall market, oral solid dosage formulations are expected to witness increased uptake owing to the ease of consumption by patients globally. Accordingly, oral application type segment is expected to witness value increase from US$3327.8 million in 2015 to US$5094.2 million by the end of 2021.
The prime drivers of the market include rising demand for sustained-release and controlled-release formulations, especially in oral applications, and increased demand for generics. Sustained and extended release formulations are gaining popularity as they help in maintaining patient-safety through reduced number of medicine dosages, but having increased drug efficacy. Apart from these factors, increase in the incidence of chronic diseases across regions has been spurring demand for essential drugs, which is expected to fuel demand for excipients over the forecast period.
Frequent physical audits of excipients manufacturing facilities by officials from regulatory agencies lead to the imposition of substantial operating cost burdens on excipient manufacturers, thus hampering revenue growth for excipients over the forecast period. Other market deterrents include long gestation period before a novel excipient is formally accepted in the industry. However, the situation is expected to improve over the next few years, with individual economies formulating their own good manufacturing and good distribution practice guidelines in collaboration with the International Pharmaceutical Excipient Council.
Based on regions, the market has been divided into North America, Latin America, Europe, Asia-Pacific, and the MEA. Developed pharmaceutical markets such as the US and EU are expected to emerge as the main sourcing markets, while economies such as India, China, and Brazil are expected to emerge as the main supplying countries for raw materials such as cellulose, starch, lactose, etc.
Formalization of good manufacturing practices for excipients is an urgent need in the global excipients market, to cater to rising demand for higher purity excipients in applications such as parenteral forms. According to various trade associations and regulatory agencies, global acceptance of excipients by drug manufacturers is a relatively lengthy process, which takes around 7–10 years. This factor is expected to prolong the revenue conversion period for excipients manufacturers.
This report assesses trends by chemistry type, application type, functionalities and regions to offer analytical insights about the potential demand emerging for particular pharmaceutical excipients in specific regions. North America is estimated to dominate the pharmaceutical excipients market accounting for a maximum revenue share of the overall market by the end of 2015. By 2021 end, North America and Europe markets are expected to account for over three-fifth share of the global pharmaceutical excipients market revenue. In terms of market share by value, North America is estimated to retain its dominant position, registering a CAGR of 6.9% over the forecast period.
Some key companies covered in this report include BASF SE, Evonik Industries AG, Innophos Holdings Inc., The Lubrizol Corporation, The Dow Chemical Company, Wacker Chemie AG, and Ashland Inc. These companies are primarily focused on enhancing their product portfolio through research and development and the introduction of innovative and cost-effective advanced manufacturing procedures such as co-processing of existing excipients in order to gain higher market share and to strengthen their respective positions in the global market.
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance