This Persistence Market Research (PMR) report examines the ‘Global Pharmaceutical Excipients Market’ for the period 2015-2021. The primary objective of the report is to offer updates and information related to market opportunities in the global pharmaceutical excipients market.
This Persistence Market Research (PMR) report examines the global pharmaceutical excipients market for the period 2015-2021. The primary objective of the report is to offer insights into the developments in the pharmaceutical excipients market that are significantly transforming global businesses and enterprises. Rising demand for reduced medicine dosage through consumption of sustained-release oral formulations is expected to bolster the growth of the pharmaceutical excipients market over the next five years. In addition, increasing demand for biologic drugs for their instantaneous effect and greater drug efficacies in developed Western European economies is expected to drive the growth of the pharmaceutical excipients thus aiding formulation of parenteral applications during the forecast period. Primary excipient demand emerges from developed pharmaceutical markets such as Europe and North America, as these companies in these regions possess highly developed and technically advanced drug manufacturing infrastructure.
The pharmaceutical excipients market report begins with an overview of the pharmaceutical excipients process and analysis about why excipients are needed in the manufacturing of drugs. This section includes identifying the key functions of excipients and the respective considerations in each segment for appropriate sizing of the market. The following section underlines factors influencing the growth of the pharmaceutical excipients market currently, along with details of the key trends, drivers, restraints, opportunities, and an analysis of impacts expected to be created by each of the drivers and restraints over the forecast period. Impact analysis of the key regional growth drivers and restraints have been assessed based on a weighted average factor model along with key region-specific trends. This has been included in the pharmaceutical excipients market report to better equip clients with information and hidden insights. At the end of the report, PMR has provided an exclusive section on key strategic considerations for a new entrant planning to enter the pharmaceutical excipient in near term. The section highlights key requirements, which should be used to assess the quality of excipients produced, to better capture higher market share and emerge sustainably profitable over the long term.
The global pharmaceutical excipients market is analysed by chemistry type (i.e. source of origin), segmented into plant-based, animal-based, mineral-based and synthetically derived excipients. Based on functionality, the market has been segmented into binders (binders, coatings and fillers), glidents, diluents, disintegrants and others (solvents, co-solvents, anti-microbial agents, lubricants, colorants, emulsifiers, and humectants). By application type, the market has been segmented into oral, topical, parenteral formulations and others, which include suppositories, intra-muscular, ophthalmic preparations in terms of value, over the forecast period. A detailed analysis of every segment in terms of market size, Y-o-Y growth rate, absolute $ opportunity, market attractive index, and BPS analysis has been provided along with appropriate rationale.
The next section of the report highlights the growth trends witnessed in the pharmaceutical excipients market, by region. It provides a market outlook for 2015-2021 and sets the forecast within the context of the pharmaceutical excipients market. The study discusses key regional trends contributing to the growth of the pharmaceutical excipients market worldwide, as well as analyses the extent to which the corresponding drivers are influencing this market in each region currently. Key regions assessed in this report include North America, Latin America, Europe, Asia-Pacific, and the MEA.
Analysis by chemistry type, application type, functionalities and regions helps in evaluating the present scenario and growth prospects of the pharmaceutical excipients market for the period 2015 - 2021. We have considered 2014 as the base year and provided data for the forecast period.
To ascertain the pharmaceutical excipients market size, we have also considered key quality assessment parameters that should be considered while judging the quality and grading of excipients. The forecast presented here assesses the total revenue generated, by value, across the pharmaceutical excipients market. In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the pharmaceutical excipients market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of the three different types of analysis, based on the supply side, downstream industry demand, and the economic envelope.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyse based on key parameters, such as Year-on-Year (Y-o-Y) growth rates, to understand the predictability of the market and to identify the right opportunities in the pharmaceutical excipients market.
The pharmaceutical excipients segments have been analysed in terms of the Basis Point Share (BPS) to understand individual segment’s relative contributions to market growth. This detailed level of information is important for identification of various key trends in the pharmaceutical excipients market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective, in the pharmaceutical excipients market.
To understand key growth areas of pharmaceutical excipients in the near future, Persistence Market Research developed the pharmaceutical excipients market’s ‘Attractiveness Index’, which has been represented by for all four categories, chemistry type, application type, functionalities and regions. The resulting index is expected to help providers identify real market opportunities.
In the final section of the report, information related to the pharmaceutical excipients ‘Strategic Recommendation’ is included to provide report companies with insights required while entering a specific segment or a country to strengthen their revenue footprints in the pharmaceutical excipients market and to differentiate themselves. Key categories of providers covered in the report are pharmaceutical excipients manufacturers. Detailed company profiles have been primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a key market segment in the pharmaceutical excipients value chain and the potential players with respect to the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the pharmaceutical excipients marketplace.
Detailed profiles of the providers also include company-specific long-term and short-term strategies, key offerings, and recent developments in the pharmaceutical excipients market. Key competitors in the market, covered in terms of manufacturers, include BASF SE, Evonik Industries AG, Innophos Holdings Inc., The Lubrizol Corporation, The Dow Chemical Company, Wacker Chemie AG and Ashland Inc.
Key Segments Covered
By Source of Origin
By Application Type
Pharmaceutical excipients are substances other than pharmacologically active drug components, which are included in the drug manufacturing process or contained in a finished pharmaceutical product dosage form. They facilitate formulation design and perform a range of functions such as increasing lubricity, enhancing flowability and improving compressibility, among other characteristics. The global market for pharmaceutical excipients has been segmented based on the source of origin or chemistry type as per U.S. pharmacopeia, i.e. plant-based, animal-based, mineral-based and synthetically derived excipients. The market has also been segmented by application type and functionality of various excipients, and by regions.
The global pharmaceutical excipients market is estimated to be valued at US$ 7,415.2 Mn by 2021 end, with various markets registering significant CAGRs during the forecast period.
The growth of the global pharmaceutical excipients market is mainly driven by increasing demand for drugs that can be consumed orally. Ease of consumption and associated patient comfort has been pushing big drug makers to develop sustained-release dosage formulations. This also contributes to extended shelf life of oral drugs, which adds to higher revenue prospects. However, non-availability of harmonized quality standards for gradation of excipients and their safety evaluation standards are some factors expected to restrain the growth of the market over the forecast period.
International regulatory benchmarking for uniform good manufacturing and distribution practices for excipients, spanning regions, is set to define the market landscape of the excipient industry over the forecast period. This is expected to be accompanied by standardized documentation, and approval and pharmacovigilance activities related to these inactive ingredients.
Based on chemistry type, the market has been segmented into plant-based, animal-based, mineral-based, and synthetically derived. Globally, naturally derived excipients are witnessing increased demand due to lesser side effects, such as flatulence, skin rashes, etc. and improved composition quality. In terms of value, the plant-based excipient is estimated to account for close to one-third of the global market share by 2021 end. The segment is expected to gain market attractiveness throughout the forecast period. The principle plant-based excipients expected to witness increased demand are microcrystalline cellulose (MCC), starch, and starch-derivatives. They would find primary application in oral formulations.
Based on application, the market has been segmented into oral, topical, parenteral formulations, and others. Others segment includes less frequently used drug delivery methods such as suppositories, intra-muscular, transdermal, ophthalmic, etc. Lack of highly developed controlled manufacturing facilities and fear of anti-microbial contamination is expected to deter the development of excipients such as solvents and co-solvents in certain regions over the forecast period.
Based on functionality, the global excipient market has been segmented into binders, diluents, glidents, disintegrants, and others (solvents, co-solvents, anti-microbial agents, humectants, colorants, sweeteners, etc.). The binders functionality segment, consisting of binders, fillers, and coating agents are primarily used in oral solid dosage formulations and is expected to account for close to 50% of the total excipient market by value over the forecast period. The segment is expected to be valued at US$ 3,523.8 Mn by 2021 end, registering a significant CAGR over the forecast period.
The global pharmaceutical excipients market has been segmented into five major regions namely North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. In terms of value, North America is estimated to be dominant, accounting for over one-third of the total excipients market value by 2015 end. Asia Pacific is estimated to emerge as the fastest growing market among all the emerging regions while revenue from the market in Europe is expected to expand at a healthy CAGR of 6.1% over the forecast period despite the ongoing economic downturn in the region.
Some of the key players covered in the global pharmaceutical excipients drug market report are BASF SE, Evonik Industries AG, Innophos Holdings Inc., The Lubrizol Corporation, The Dow Chemical Company, Wacker Chemie AG, and Ashland Inc. The report is enriched through identification of company-specific strategies related to excipient raw material sourcing, research and development, market consolidation initiatives, and analyzes of the various market player’s specific strengths, weaknesses, opportunities, and threats.