Press release
Pharmaceutical Excipients Market 2023 To Rise at 7% CAGR With Global Leading Players - ASHLAND, INC., BASF SE, THE DOW CHEMICAL COMPANY, FMC CORPORATION, ROQUETTE GROUP, EVONIK INDUSTRIES AG
Market Analysis:United States Leads the Market in North America
The United States pharmaceutical excipients market held the largest market share in 2017 in North America due to the presence of high-quality healthcare system and the presence of numerous pharmaceutical companies. Asia-Pacific is one of the upcoming markets due to the advancements in the technology of manufacturing new excipients.
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Pharmaceutical excipients are combined with active pharmaceutical ingredients to prepare the final dosage of drugs. When patents expire, generic drug companies are free to create their replicas, and these can cost up to 80% less than the original, which inevitably leads to a sharp and sudden loss in sales for the companies that developed them. This has encouraged pharmaceutical companies to try and extend patents by using functionality excipients. Also, factors such as increasing demand for functionality excipients, rapid advancements in nanotechnology, and the emergence of new excipients for the pharmaceutical industry are driving the pharmaceutical excipients market.
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Market Segments:
Pharmaceutical Excipients Market is segmented by:
1. Products: Inorganic Chemicals, Organic Chemicals
2. Delivery Mode: Oral Formulations, Topical Formulations, Parenteral Formulations, Advance Delivery Systems
3. Functionality: Fillers & Diluents, Binders, Suspension and Viscosity Agents, Coatings, Flavoring Agents, Disintegrants, Lubricants & Glidants, Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa
Key Developments in the Market
• August 2017: Straumann Group acquired ClearCorrect.
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