Pharmaceutical Excipients Market is Expected to Grow at a CAGR of 6.9% by the End of 2021
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These are some of the important findings of the latest report released by Persistence Market Research which is titled as ‘Pharmaceutical Excipients Market: Global Industry Analysis and Forecast 2017 – 2021’. Besides, this report also has a comprehensive section on the market dynamics affecting the global pharmaceutical excipients market and gives a clear picture regarding the factors that are affecting the market growth. As per the numbers provided in this report, the global pharmaceutical excipients market was valued at US$ 5,682.7 Mn in 2017 and is anticipated to reach a valuation of US$ 7,415.2 Mn in 2021 end, displaying a CAGR of 6.9% during the period of assessment 2017-2021.
Global Pharmaceutical Excipients Market: Dynamics
Increasing innovative collaborative research opportunities in pediatric formulations is being pushed through evolution of new regulations, additional funding opportunities, and increased public-private partnerships. This has been shifting focus to development of excipients used in both oral solid and liquid pediatric formulations, which are flexible, dispersible and multi-functional. Furthermore, continued prioritization of unmet medical needs in pediatrics is expected to drive demand for these excipients and oral formulations in the forthcoming years.
It is also noted that stability testing of excipients is one the most important phases in determining the strength and efficacy of a drug. As more drug manufacturers rely on imports to fulfill requirements for excipients, the stability testing phase adds a layer of complexity to the already costly procedures. This results in uncertainty and lower revenue prospects for excipients manufacturers. These factors are likely to act a hurdle to the market growth of pharmaceutical excipients.
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Global Pharmaceutical Excipients Market: Segmentation and Forecast
Global pharmaceutical excipients market is segmented on the basis of chemistry type, application type, functionality and by region.
Plant-based chemistry type segment has been estimated to witness an increase in market value from US$ 1,650.4 Mn in 2017 to US$ 2,166.8 Mn by 2021.
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Oral applications segment is expected to witness a significant gain in market share during the forecast period, 2017-2021. Parenteral dosage forms are expected to witness lower uptake due to dearth of high purity certified excipients.
Binders functionality segment is expected to witness increase in market value from US$ 2,494.2 Mn in 2017 to US$ 3,523.8 Mn by 2021, registering a robust CAGR during the period of assessment.
North America market is expected to remain dominant in terms of production and sales of excipients, accounting for 36.5% of the total pharmaceuticals excipients market value by the end of 2021.
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Global Pharmaceutical Excipients Market: Competition Landscape
This research report also profiles the leading players that are operating in the global pharmaceutical excipients market in the competition landscape section. Some of the leading players that have been profiled include BASF SE, Evonik Industries AG, Innophos Holdings Inc., The Lubrizol Corporation, The Dow Chemical Company, Wacker Chemie AG and Ashland Inc.
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