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Global Pharmaceutical Excipients Market – by Product, Formulation, Functionality, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2025)
Pharmaceutical Excipients Market – Segmented by Product, Formulation, Functionality, Region | Market Size, Growth, Drivers, Trends, Industry Structure and Forecasts, Competitive Intelligence, Company Profiles | MarkGenes
Pharmaceutical Excipients is a kind of substances that have been intentionally included in the drug delivery system other than the active pharmaceutical ingredient (API) which has been thoroughly evaluated for safety. These excipients enable the drug substance and support the way and place of action without being active themselves and applied to the patient in the right form or quantity.
The global pharmaceutical excipients market was USD 5.38 billion in 2018 and is estimated to reach USD 7.93 billion by 2025 registering a CAGR of 5.69% during the forecast period
Growth by Region
Europe holds the largest market share and is expected to be the dominant region over the forecasted timeframe owing to the huge presence of well-established pharmaceutical companies such as Novartis and Roche, whose larger production has led to higher quantity excipient consumption. Moreover, Europe is widely diverting their attention towards the generics and biologics market in a huge way which will ultimately lead to higher demand for pharmaceutical excipients. On the other hand, the Asia Pacific region is anticipated to witness a substantial growth in terms of excipients market during the projected timeframe.
Drivers vs Constraints
The global pharmaceutical excipient market is mainly driven by cumulative demand for oral solid drug formulations which is witnessing a steady increase over the past few years and boosting the global pharmaceutical excipient market mainly due to the ease of consumption by patient classes including children. The major restraint that the pharmaceutical excipients market faces is the lack of separate guidelines manufacturing and approval of excipients and is considered as a major hurdle restricting the R&D initiatives of the novel pharmaceutical excipients market.
Industry Trends and Updates
Ashland, a global leader in speciality chemical solutions had completed their acquisition of Pharmachem Laboratories, who is also a leading provider of quality ingredients in global health and wellness industries by paying USD 660 million in an all-cash transaction which will enhance the company’s position in fast-growing nutraceutical end markets.
BASF invested USD 200 million into its Kaolin business to further growth potential through the process of sustainable supply, service and innovative solutions over the next 10 years for its customers.
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