Global Pharmaceutical Excipients Market Growth Challenged by Lack of Harmonized Quality Standards


  • Published On : Mar 28, 2016

The global pharmaceutical excipients market is expected to expand moderately over the next few years. According to Persistence Market Research (PMR) analysis, the global pharmaceutical excipients market is expected to expand at a CAGR of 6.7% in terms of revenue during forecast period 2015-2021. By the end of the forecast period, the global pharmaceutical excipients market is expected to be valued at US$ 7,415.2 Mn.

Global Pharmaceutical Excipients Market Propelled by Rising Demand for Oral Drugs

Growth of the global pharmaceutical excipients market is primarily driven by rising demand for drugs that can be orally consumed. Shifting preference owing to ease of consumption and related patient comfort associated with oral drugs has been prompting key drug makers to manufacture and introduce sustained-release dosage formulations. This has resulted in extended shelf life of oral drugs, which is also driving revenue growth of the global pharmaceutical excipients market. Growing incidence of chronic diseases across the globe is fueling demand for essential drugs, thereby driving overall growth of the global market.

Nevertheless, lack of harmonized quality standards for gradation of excipients and their safety evaluation standards is posing a challenge for growth of the global pharmaceutical excipients market currently. Long gestation period before formal acceptance of a novel excipient in the industry is another factor restraining growth of the global pharmaceutical excipients market.

Naturally-derived Excipients to Witness Elevated Demand in Global Market

On the basis of source of origin, the global pharmaceutical excipients market is segmented into synthetic excipients, mineral-based excipients, animal-based excipients, and plant-based excipients. Demand for naturally-derived excipients is rising in the global pharmaceutical excipients market due to fewer side-effects associated with these excipients. Value-wise, the plant-based excipients segment is estimated to account for around one-third of the global pharmaceutical excipients market revenue by the end of the forecast period.

Application-wise, the global pharmaceutical excipients market is segmented into parenteral formulation, topical formulation, oral formulation, and others. By functionality, the global pharmaceutical excipients market is classified into disintegrants, diluents, glidents, binders, and others. The binders functionality (binders, coating agents, and fillers) segment finds its application primarily in oral solid dosage formulations.

Market in Europe to Witness Healthy Growth Despite Economic Downturn

On the basis of region, the global pharmaceutical excipients market is segmented into Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe. Among these, the market in North America currently remains dominant, accounting for over one-third of the global market revenue. Meanwhile, the market in Europe is projected to expand at a healthy CAGR of 6.1% in terms of revenue during the forecast period despite of the economic downturn it is facing. Nevertheless, it is Asia Pacific that is expected to witness the fastest growth in the global pharmaceutical excipients market.

Developed markets such as the U.S. and the EU are expected to be the most prominent raw materials sourcing markets in the coming years, while countries such China, Brazil, and India are anticipated to emerge as the key supplying hubs for raw materials such as starch, cellulose, and lactose. Some key players operating in the global pharmaceutical excipients market are Innophos Holdings Inc., Ashland Inc., Wacker Chemie AG, Evonik Industries AG, BASF SE, and The Dow Chemical Company.

Browse Full Global Pharmaceutical Excipients Market Research Report With Complete TOC @ http://www.persistencemarketresearch.com/market-research/pharmaceutical-excipients-market.asp

Back To Top