Category : Healthcare and Pharmaceuticals | Published at : November-2019 | Delivery Format : PDF | Status: Published | Pages : 190
The global pharmaceutical excipients market value is expected to reach around US$ 10.3 Bn by 2026, growing at a CAGR of around 5.9% over the forecast period 2019 to 2026.
Pharmaceutical excipients are pharmaceutically inactive substances in the final formulation. Standard purposes of using excipients along with the active ingredients are streamlining the manufacturing of formulation and facilitate physiological absorption of drugs and support or enhance the stability of formulation. Various excipients are used in the single formulation and account for about 90% of the product. However, they cost about 0.5% to 1.0% of the total product. Emerging multifunctional excipients, growing pharmaceutical industry, and surge in the demand of generics are the key growth factors of the market in 2018. Flavoring agents & sweeteners and coloring agents are used to enhance the aesthetic nature of formulation and improve the ease of administration among patients. Fillers and diluents accounted for the largest share of the market as they are used to provide bulk to the formulation. Hence, the requirement of fillers is more in the final formulation. Organic chemicals and inorganic chemicals are the key pharmaceutical excipients.
Market Dynamics
Growing pharmaceutical industry, increasing uptake of multifunctional excipients, and the availability of high quality raw materials and excipients are the key driving factors of the market. Furthermore, increasing chronic disease prevalence around the world enhances the demand for pharmaceutical products and thereby excipients.The entry of pharmaceutical giants in emerging regions such as Asia Pacific and Latin America, growing disposable income, and increasing awareness about healthcare in these regions are likely to propel the pharmaceutical excipients market in these emerging regions. Increased access to various healthcare facilities due to developed infrastructure, favorable reimbursement, and technological advancement are also improving pharmaceutical consumption across the world. Telehealth facilities help to reach healthcare facilities and expert advice in rural areas.High production costs in developed regions and stringent government regulations are likely to limit the market growth.
Based on the product, the pharmaceutical excipients are divided into organic chemicals, inorganic chemicals, and others. The organic chemicals segment dominated the pharmaceutical excipients market in 2018. This can be attributed to high demand from the pharmaceutical industry as organic chemicals such as proteins, carbohydrates, oleochemicals, and petrochemicals are majorly used in pharmaceutical formulations.
On the basis of function, the market has been segmented into coating agents, filers & diluents, suspending & viscosity agents, binders, flavoring agents & sweeteners, disintegrants, colorants, emulsifying agents, lubricants & glidants, and preservatives. Fillers and diluents segment accounted for the maximum share of the market due to increased usage of fillers in the development and production of final formulations and advantages they offer.
North America dominated the pharmaceutical excipient market in 2018. However, Asia Pacific is anticipated to propel the market growth with the fastest rate. Presence of pharmaceutical giants in the region, emphasis on high quality pharmaceutical products, and high consumption & demand for novel excipients are the key driving factors for the dominance of North America in the global market. The increasing number of pharmaceutical product manufacturers in Asia Pacific is expected to increase the demand for excipients in the coming years. Furthermore, extensive R&D in healthcare, rising disposable income, and increasing treatment rate are other factors to boost the pharmaceutical excipients market in Asia Pacific. Low cost raw materials and workforce and availability of resources for manufacturing facility are attracting several pharmaceutical companies in Asia Pacific. Japan, China, India, Singapore, and Australia are some of the major contributing countries in the region.
The market research study on “Pharmaceutical Excipients Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight on the global pharmaceutical excipients market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global pharmaceutical excipients market, its product, function, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global pharmaceutical excipientsmarket size, and segment markets by product, function, and geography along with the information on companies operating in the market. The pharmaceutical excipientsmarket analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size for different segments have been covered under the scope of the report.
The players profiled in the report include Archer Daniels Midland, Ashland, Akzo Nobel N.V., Associated British Foods Plc, BASF SE, Colorcon, Croda International, Dow Chemicals Corporation, DFE Pharma, Evonik, Innophos Holdings, J.M. Huber Corporation, Kerry Group plc, Merck Inc., Merck Millipore, and Roquette. The competitors are involved in the mergers, acquisitions, collaborations, and product development to enhance their market footprints.
Market Segmentation
Market By Product
- Organic Chemicals
- Oleochemicals
- Carbohydrates
- Petrochemicals
- Proteins
- Others
- Inorganic Chemicals
- Calcium Phosphate
- Metal Oxides
- Halites
- Calcium Carbonate
- Calcium Sulphate
- Others
- Others
By Function
- Coating Agents
- Fillers & Diluents
- Suspending & Viscosity Agents
- Binders
- Flavoring Agents & Sweeteners
- Disintegrants
- Colorants
- Emulsifying agents
- Lubricants &Glidants
- Preservatives
- Others
By Geography
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Pharmaceutical excipients are pharmaceutically inactive substances in the final formulation.
Growing pharmaceutical industry, increasing uptake of multifunctional excipients, and the availability of high quality raw materials and excipients are the key driver of the pharmaceutical excipients market.
According to Acumen Research and Consulting, the pharmaceutical excipients market value is anticipated to be worth around US$ 10.3 billion in 2026.
The pharmaceutical excipients market is anticipated to grow over 5.9% CAGR during the forecast period 2019 to 2026.
North America held maximum share in 2018 for pharmaceutical excipients market.
Asia Pacific is projected to grow at a fast pace during forecast period in the pharmaceutical excipients market.
Archer Daniels Midland, Ashland, Akzo Nobel N.V., Associated British Foods Plc, BASF SE, Colorcon, Croda International, and Dow Chemicals Corporation are the top players operating in the pharmaceutical excipients market.
