Pharmaceutical Excipients Market Segmentation And By Key Players BASF SE, The DOW Chemical Company, Evonik Industries, FMC Corporation, Croda International PLC, Ashland

The Global Pharmaceutical Excipients Market was valued at US$ 5,394.2 million in 2015 and is projected to expand at a CAGR of 6.9% during the forecast period (2016–2024)

Development of new pharmaceutical product requires significant amount of time and effort along with high cost expenditure. However, product development in pharmaceutical excipients is economical as compared to drug or API development. Quality by design is a scientific method that involves risk-based approach at product concept stage. In 2002, the U.S. Food and Drug Administration (FDA) started an initiative for pharmaceutical companies called pharmaceutical current Good Manufacturing Practices (GMP), a risk-based approach for organizations involved in pharmaceutical product manufacturing to adopt management techniques to enhance quality in keeping with modern standards. Furthermore, key players in the market are focused towards expanding geographical presence by setting up new plants and manufacturing units worldwide. For instance, in 2016, Ashland Inc., established a new pharmaceutical excipients manufacturing unit in Nanjing, China to meet increasing demand and new quality regulations, which is a major stronghold for the company in the region.

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The global pharmaceutical excipients market is expected to expand at a CAGR of 6.9% during the forecast period (2016–2024). The rise in market for oral formulation is expected to favor the market for pharmaceutical excipients over the forecast period. This has been supported by the introduction of different types of oral dosage for having variations in release timing and coating properties.

The binder functionality type segment in the global pharmaceutical excipients market was estimated to be the largest in 2015 and is expected to dominate the market throughout the forecast period in terms of value. This is expected to grow in the near future on the backdrop of rise in demand for oral dosage forms globally.

In terms of product type, the plant chemistry type segment is expected to expand at a significant CAGR of 7.8% during the forecast period. The growing demand for plant products are projected to favor the market for pharmaceutical excipients market in the near future

The global pharmaceutical excipients market is characterized by strategic research and development and advancements in the excipients processing, also the organizations involved in the manufacturing of the excipients are now inclined towards product development to expand their product portfolio. For instance, according to pharmaceutical technology, in 2012, Ashland announced the expansion of production of Polyplasdone cross-linked polyvinylpyrrolidone (PVPP) in Texas City manufacturing facility.

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