New Jersey, NJ, Aug. 29, 2019 (GLOBE NEWSWIRE) -- Rapid growth of the pharmaceutical industry, increasing geriatric population, rising prevalence of chronic diseases, advancements in functional excipients and the swiftly growing biopharmaceuticals sector are driving the growth of the global pharmaceutical excipients market. Global pharmaceutical excipients market is expected to reach USD 9.78 Billion by 2025, at a CAGR of 5.93% from 2018 to 2025, according to the new report published by Fior Markets.
Pharmaceutical excipients are substances other than the pharmacologically active drug or prodrug which are included in the manufacturing process or are contained in a finished pharmaceutical product dosage form. Pharmaceutical excipients are used in the pharmaceutical drugs for the purposes of aiding the manufacturing process, to protect, support or enhance stability, and bioavailability of the drug. Pharmaceutical excipients help in transporting the active drug to the site in the body where the drug is intended to exert its action as well as keep the drug from being released too early in the assimilation process in places where it could damage tender tissue and create gastric irritation or stomach upset. Thus, the global rise of the pharmaceutical industry propelled by the increasing demand for generic drugs is driving the global pharmaceutical excipients market.
Even though the factors such as global surge in the sale of generic drugs, rising use of biopharmaceuticals as well as rising geriatric population are driving the global pharmaceutical excipients market. The stringent regulatory approval process and cost and time intensive nature of the drug development process are expected to hold back the growth of the market over the forecast period.
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Key players in the global pharmaceutical excipients market are Ashland, BASF SE, DowDuPont, Roquette, Evonik, Associated British Foods, Archer Daniels Midland Company, Lubrizol, Croda, Innophous Holdings, Kerry Group, Wacker Chemie, Signet, Avantor Performance Materials, Inc., FMC Corporation, Colorcon, Inc., Eastman Chemical Corporation, P&G Chemicals, Huntsman Corporation, Merck, Valeant, JRS Pharma, Shin-Etsu Chemical Co., Ltd., DFE Pharma, Finar Limited, among others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the market.
- For instance, in 2017, DFE Pharma announced the launch of new specialty grade SuperTab® 40LL. This new product provides the possibility to comfortably run highly dosed formulations (e.g. mini-tablets) through processing machines directly compressible; at high speed with good content uniformity.
- Solubility of the active pharmaceutical ingredients with poor bioavailability has been the major problem faced by the pharmaceutical industry. Thus to overcome this problem Merck in 2016, introduced the Parteck® MXP, a polyvinyl alcohol-based excipient. The Parteck® MXP enhances solubility of a wide range of active pharmaceutical ingredients (APIs) with poor bioavailability with.
The organic pharmaceutical excipients segment had a market value of USD 2.65 billion in 2017
Type segment is divided into organic excipients, inorganic excipients, and others. The organic pharmaceutical excipients exhibit a significant property for delivering improved efficacy in oral delivery of poorly soluble molecules. They also provide the increased compressibility and flow ability to the pharmaceutical formulations. Thus the organic pharmaceutical excipients segment led the global pharmaceutical excipients market with USD 2.65 billion revenue in 2017.
The fillers & diluents segment had a market value of USD 1.99 billion in 2017
The functionality segment contains fillers & diluents, binders, suspending & viscosity agents, flavoring agents & sweeteners, coating agents, colorants, disintegrants, lubricants & glidants, preservatives, emulsifying agents, and others. The fillers & diluents materials help in improving the taste of the formulation and provide the ease of administration coupled with providing the stability, ease in preparation, packaging, shipping, and dispensing of pharmaceutical drugs. Based on these factors the fillers & diluents segment emerged as the global leader in the pharmaceutical excipients market with USD 1.99 billion revenue in 2017.
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Parenteral formulations segment is anticipated to grow at a CAGR of 7.72% in 2018-2025
Formulation is segmented into oral formulations, topical formulations, parenteral formulations and others. Due to the increasing utilization of the parenteral route for delivering the biologics and biosimilars drugs, the parenteral formulations segment is projected to grow an accelerated CAGR of 7.72% over the forecast period.
Regional Segment Analysis of the Pharmaceutical Excipients Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The Europe region emerged as the largest market for the pharmaceutical excipients with a 41.53% share of market revenue in 2017. Presence of major substantial elderly population, well developed pharmaceutical and healthcare industry as well as huge capacity expansion projects undertaken by the major pharmaceutical players were some of the factors that led the Europe region to lead the global pharmaceutical excipients market in 2017. The Asia Pacific region is anticipated to grow at the fastest CAGR of 8.09% over the forecast period. This accelerated growth can be attributed to the growing demand for the generic drugs and rapid growth of the pharmaceutical manufacturing industry in the region.
About the report:
The global pharmaceutical excipients market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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