Global excipients market size was worth USD 3.47 billion in 2013 which is anticipated to grow at a CAGR of more than 6.0% over the forecast period. Rise in demand for the generic drugs and the formulation additives required for the purpose of formulating these drugs is anticipated to drive excipient market in the coming years.
Development of a drug in diverse formulations requires a range of binders, disintegrants, and other chemicals that maintain or retain the characteristics of a drug moiety. Rise in disease prevalence as a consequence of increasing geriatric population is expected to increase the demand for pharmaceutical products, thus impacting the excipients demand over the forecast period. Ongoing investigations for the development of suitable chemicals with ideal characteristics for a given formulation is are anticipated to boost growth in this sector. Adoption of novel delivery models that fuel the demand for enhanced chemical structures that are more stable and active in nature is expected to support in the projected growth. Treatment of the complex diseases pronounces the demand for complicated delivery methods that in turn drive the R&D in this sector thus leading to substantial progress in the coming years.
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Polymer excipients accounted for the largest revenue share in context with revenue generation owing to its higher usage in several drug formulations. Advantages associated with the usage of this category of excipients include its changing property with changing concentration in different kind of dosage forms.
In addition to this, the multi-functionality of these products is anticipated to induce its adoption in several dosage forms thereby leading to its substantial growth. Use of polymers in the sustained and controlled release medication is attributive to support growth.
European region dominated with largest share in 2016. High demand for pharma products due to high base of geriatric population and established sophisticated infrastructure to answer the healthcare needs are the factors owing for its estimated share. North America accounts for the second largest share in market, owing to a large base of pharmaceutical companies in this region.
Asia-Pacific region is expected to gain significant market share, growing at lucrative CAGR owing to the high prevalence of the chronic disease and rising investment by MNCs who outsource their products due to low manufacturing cost and supportive government policy.
In the coming years, development in the drug delivery system and high investment in R&D for improving dosage form technology is anticipated to fuel strong growth over the forecasted period.
Companies that dominate excipient market are Avantor Performance Materials, P&G, Huntsman Corporation, Eastman Chemical Company, BASF, Ashland Inc., Danisco A/S, FMC Corporation, Lubrizol Corporation, and Evonik Industries.
There is a high industry rivalry with intense competition. By capitalizing the untapped market and other strategies such as mergers & acquisitions, integration and collaborations of R&D for better outcomes the companies aim to acquire higher market share.
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Excipients Product Outlook
• MCC (Microcrystalline Cellulose)
• HPMC (Hydroxypropyl Methyl Cellulose)
• Ethyl Cellulose
• Methyl Cellulose
• CMC (Carboxymethyl Cellulose)
• Croscarmellose Sodium
Excipients Regional Outlook
• North America
• Asia Pacific
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/pharmaceuticals
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