Global Pharmaceuticals Excipients Market Report, published by Variant Market Research, forecast that the global market is expected to reach $8.9 Billion by 2024 from $5.3 Billion in 2016, growing at a CAGR of 6.6% from 2016 to 2024. Pharmaceutical excipients are constituents comprised in the manufacturing procedure or are confined in a complete pharmaceutical product dosage form. They are neither pharmacologically active drug nor prodrug. The excipients control the release of drug in early assimilation process in places where it could cause problem like stomach upset or gastric irritation and damage tender tissues. It is also being used as an agent to increase solubility, enhancing therapeutics effects and as a stabilizing substance in a drug.
"Pharmaceuticals Excipients Market (By Type: Organic (Carbohydrates, Petrochemicals, Inorganic); By Functionality: Flavoring Agents, Binders, Coatings, Preservatives, Viscosity Agents, Lubricants, and Others; By Geography: North America, Europe, Asia-Pacific, RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024"
Increase in demand of oral solid pharmaceutical drugs and companies’ drives the global pharmaceuticals excipients market
Increase in demand of oral solid pharmaceutical drugs and companies, and effort to improve the efficiency and delivery of drugs are the major factors to drive the global pharmaceuticals excipients market trend. However, high cost of production of excipients, pharmaceutical excipients industry is highly regulated industry by government laws and regulation are the major hindrance for the global pharmaceuticals excipients market growth. Furthermore, growth of Nano technology is expected to generate numerous opportunities for the market in the forecast timeframe.
Global Pharmaceuticals Excipients Market, by Type
The global pharmaceuticals excipients market is mainly classified on the basis of type, functionality, and geography. By type, the market comprises of organic (carbohydrate, petrochemicals, inorganic (metal oxides, calcium carbonates, calcium phosphates, halites)). Functionality segments are further classified as flavoring agents, binders, coatings, preservatives, viscosity agents, lubricants, and others. By geography, North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major segments of pharmaceuticals excipients market.
Organic dominated the type segment
Organic accounted for the highst pharmaceuticals excipients market share in 2016, and is expected to continue its trend during the forecast period. The growth is attributed due to its wide applications in the manufacturing of pharmaceutical drugs, which will ultimately influence the pharmaceuticals excipients market size.
Global Pharmaceuticals Excipients Market Primary Interviews by Geography
North America accounted for the highest share in the global market
North America generated the largest revenue in the global pharmaceuticals excipients market, followed by Europe. The presence of large number of pharmaceuticals drug manufacturers in North America has led to their major share in the market.
Roquette signs agreement to acquire Itacel (a leading player in Brazil and Latin America) and reinforce its global leadership in the pharmaceutical industry. The major players in the pharmaceutical excipients market include Ashland, Inc., BASF SE, The Dow Chemical Company, Roquette, FMC Corporation, Evonik Industries AG, Associated British Foods Plc., Archer Daniels Midland Company, Lubrizol Corporation, and Croda International Plc.