Pharmaceutical Excipients Market Size Hit US$ 10.3 Bn by 2026

LOS ANGELES, Nov. 5, 2019 /PRNewswire/ -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled "Pharmaceutical Excipients Market By Product (Organic Chemicals, Inorganic Chemicals, Others), By Function (Coating Agents, Fillers & Diluents, Suspending & Viscosity Agents, Binders, Flavoring Agents & Sweeteners, Disintegrants, Colorants, Emulsifying agents, Lubricants & Glidants, Preservatives, Others) – Global Industry Analysis, Market Size, Opportunities And Forecast, 2019 - 2026."

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Some of the key observations regarding pharmaceutical excipients industry include:

• In August 2019, LBB Specialties has entered into a partnership with MEGGLE Excipients & Technology to distribute MEGGLE's products in the U.S. nutraceutical and pharmaceutical markets. MeGGLE provides pharmaceutical-grade lactose to the world.
• In July 2019, Colorcon announced its plan to open a starch manufacturing plant in the Netherlands. With the help of this new facility, Colorcon plans to double its existing manufacturing capacity by 2022. The location was strategically chosen in the Netherlands to become closer to the customer base in Europe.
• In June 2019, Ideal Cures Pvt. Ltd., an India based manufacturer and exporter, expressed its interest to set up its first international manufacturing facility in the U.S. The company has distributors in more than 30 countries across the world and established its offices in Italy, Turkey, Israel, Spain, and the U.S. Ideal Cures is anticipated to open its manufacturing in the U.S. by April 2020. This will help the company to serve its existing customers and target new clients in the U.S.
• In December 2018, Roquette purchased a majority stake in Crest Cellulose, a privately owned India based pharmaceutical excipients manufacturing company. With this transaction, Roquette expanded its cellulose based excipients and enhanced its capacity to serve customers in India and Asia.  
• In October 2017, Roquette opened a new Asia pacific headquarter and innovation center in Singapore. The new facility compliments Roquette's existing research in the field of food and pharmaceutical excipients. The facility will allow tailored company's products according to the dietary needs of the region.
• In June 2017, Roquette acquired Itacel, a firm based in Brazil. Through this acquisition, Roquette entered into fast-growing Latin America market. 
• In October 2016, Ashland opened its pharmaceutical excipient production facility in China. The demand of excipients is continuously rising in China as the country's pharmaceutical industry moves to modern oral drug formulations. Hence, to serve better, Ashland opened a new facility in China.

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North America dominated the pharmaceutical excipients market in 2018. However, Asia Pacific is anticipated to propel the market growth with the fastest rate. Presence of pharmaceutical giants in the region, emphasis on high quality pharmaceutical products, and high consumption & demand for novel excipients are the key driving factors for the dominance of North America in the global market. The increasing number of pharmaceutical product manufacturers in the Asia Pacific region is expected to increase the demand for excipients in the coming years. Furthermore, extensive R&D in healthcare, rising disposable income, and increasing treatment rate are other factors to boost the pharmaceutical excipients market in Asia Pacific. Low cost raw materials and workforce and availability of resources for manufacturing facility are attracting several pharmaceutical companies in Asia Pacific. Japan, China, India, Singapore, and Australia are some of the major contributing countries in the region.

Based on the product, the pharmaceutical excipients are divided into organic chemicals, inorganic chemicals, and others. The organic chemicals segment dominated the pharmaceutical excipients market in 2018. This can be attributed to high demand from the pharmaceutical industry as organic chemicals such as proteins, carbohydrates, oleochemicals, and petrochemicals are majorly used in pharmaceutical formulations.

Related Reports

• Biopharmaceutical Excipients Market - The global market is forecasted to grow with 6.9% CAGR between the year 2018 to 2025 and the biopharmaceutical excipients market is foreseen to reach USD 3.3 billion by 2026.
• Pharmaceutical Cartridges Market - The global market size is anticipated to around USD 934.2 billion by 2026, this market is anticipated to grow with 8.0% CAGR during the forecast time period 2019 to 2026.
• Active Pharmaceutical Ingredient (API) Market - The global market is forecasted to grow at a stable CAGR around 6.5% during the forecast period 2018 to 2026 and reach the market value around USD 260 billion by 2026.

On the basis of function, the market has been segmented into coating agents, filers & diluents, suspending & viscosity agents, binders, flavoring agents & sweeteners, disintegrants, colorants, emulsifying agents, lubricants & glidants, and preservatives. Fillers and diluents segment accounted for the maximum share of the market due to increased usage of fillers in the development and production of final formulations and advantages they offer.

Key operating players in the pharmaceutical excipients market are Archer Daniels Midland, Ashland, Akzo Nobel N.V., Associated British Foods Plc, BASF SE, Colorcon, Croda International, Dow Chemicals Corporation, DFE Pharma, Evonik, Innophos Holdings, J.M. Huber Corporation, Kerry Group Plc, Merck, and Merck Millipore. Collaboration with pharmaceutical companies, increasing manufacturing capacity, and strong distribution channels have been the most adopted strategies by industry players to enhance their market footprints.

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