NEW YORK, July 4, 2016 /PRNewswire/ -- The global pharmaceutical excipients market is projected to grow at a strong CAGR of 6.1% during the forecast period of 2016-2021 to reach USD 8.1 billion by 2021. The market is mainly driven by emergence of new excipients for the pharmaceutical industry, growing generic drugs market, developments in nanotechnology, and growing global pharmaceutical market. Emerging markets such as India and China and the increasing demand for multi-functionality excipients will provide growth opportunities for major players in the market.
In this report, the global pharmaceutical excipients market is segmented by product, by delivery mode, by functionality, and by region. The pharmaceutical excipients market is classified by product into inorganic chemicals, organic chemicals, and other chemicals. Organic chemicals are further divided into carbohydrates, petrochemicals, oleochemicals, proteins, and others. On the basis of delivery mode, the market is further subsegmented into oral formulations, topical formulations, parenteral formulations, and advanced delivery systems. Oral formulations, by delivery mode, include tablets, capsules, and liquid formulations. By functionality, the pharmaceutical excipients market is divided into fillers & diluents, binders, suspension & viscosity agents, coatings, flavoring agents, disintegrants, colorants, lubricants & glidants, and preservatives.
The fillers & diluents segment accounted for the largest share of the pharmaceutical excipients market, by functionality, in 2015 and is expected to continue to dominate the market in 2021. However, the lubricant & glidants segment will witness the highest growth. From the manufacturer's perspective, fillers and diluents offer stability, ease in preparation, packaging, shipping, and dispensing; for patients, they improve the taste of the formulation and provide ease of administration (of the drug). The fillers and diluents market is expected to grow due to the increased use of fillers and diluents in the development and production of solid oral drugs.
Europe dominated the global pharmaceutical excipients market in 2015, followed by North America. Developed geographies like Europe and North America and are likely to grow at a lower CAGR as compared to the Asia-Pacific market. The rapid growth in the Asia-Pacific region is largely driven by the growth in research activities and emerging market for pharmaceutical manufacturing.
The major players in the pharmaceutical excipients market include Ashland, Inc. (U.S.), BASF SE (Germany), the Dow Chemical Company (U.S.), Roquette (France), FMC Corporation (U.S.), Evonik Industries AG (Germany), Associated British Foods Plc. (U.K.), Archer Daniels Midland Company (U.S.), Lubrizol Corporation (U.S.), and Croda International Plc. (U.K.).
Reasons to Buy the Report
The report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help the firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for reaping a greater market share.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the pharmaceutical excipients market. The report analyzes the pharmaceutical excipients market by technology, products, and end user across all regions.
• Product Development/Innovation: Detailed insights on upcoming trends, R&D activities, and new product launches in the pharmaceutical excipients market.
• Market Development: Comprehensive information on lucrative emerging markets.
• Market Diversification: Exhaustive information on new products, growing regions, recent developments, and investments in the pharmaceutical excipients market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, and manufacturing capabilities of leading players in the pharmaceutical excipients market.
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