The latest market report published by Acute Market Reports “Pharmaceutical Excipients Market - Growth, Future Prospects, and Competitive Analysis, 2018 - 2026,” the global pharmaceutical excipients market was valued at US$ 6,615.7 Mn in 2017 and expected to reach US$ 11,938.1 Mn by 2026 expanding at a CAGR of 6.87 % from 2018 to 2026.
Browse the full report Pharmaceutical Excipients Market - Growth, Future Prospects, and Competitive Analysis, 2018 – 2026 report at https://www.acutemarketreports.com/report/pharmaceutical-excipients-market
Market Insights
Polymers segment currently dominates the pharmaceutical excipients market due to its vast application in drug formulation from conventional to novel drug delivery systems. Over the last two decades, polymers have undergone tremendous structural modification to improve the bioavailability and solubility properties of the API. In this research report, proper emphasis is given to decipher the current research being conducted in drug formulation and development studies entirely focusing on the use of polymers to effectively decouple the reduced intrinsic solubility of APIs by using various technologies that would disrupt the crystal lattice of drug candidate to increase their solubility.
Fillers and diluents comprises nearly 42% of the pharmaceutical excipients market and is the leading segment by function. Binders segment will be making a significant growth owing to the latest trend observed in the pharmaceutical industries investing huge in the excipients co-processing to overcome several obstacles in drug formulation and reducing the development costs.
Domicile of key players such as BASF SE and Roquette Group in the Western European region mainly define the pharmaceutical excipients market in Europe. In addition, flexible regulatory guidelines stipulated by the European Medical Agency (EMA) for the manufacturing of pharmaceutical excipients contribute to the dominance of Europe. Asia Pacific is set to register significant growth during the forecast period from 2018 to 2026, owing to low cost of raw material and efficient workforce. Moreover, emergence of local manufacturers has created a competitive environment for the key players, which contributes to the growth of pharmaceutical excipients market in Asia Pacific.
As per the research findings of the International Federation of Pharmaceutical Manufacturers Association (IFPMA) 2016 report, approximately 10% of the drugs currently marketed are poorly soluble. Moreover, 40% of the new chemical moieties are rejected due to their solubility issues. To overcome such challenges, excipients play a major role in determining the bioavailability of the API, change their gastrointestinal motility and even membrane permeability. Rise in chronic diseases due to unhealthy lifestyle and huge investments made by pharmaceutical industries in the formulation and development segment will drive the pharmaceutical excipients market growth. It is noteworthy to understand that due to incompatibility between excipients and API has resulted in the drug related adverse events which makes it mandatory for the manufacturers to maintain quality standards as per cGMP guidelines and maintain accuracy in accelerated stability testing studies. Key players are currently emphasizing on developing ecofriendly manufacturing processes as the production of excipients in large quantities causes environmental pollution, a major challenge faced by the pharmaceutical manufacturers.
The key players spearheading the pharmaceutical excipients market are Archer Daniels Midland Company, Associated British Foods Plc., Ashland, Inc., BASF SE, Croda International Plc., The Dow Chemical Company, Evonik Industries AG, FMC Corporation, Lubrizol Corporation and Roquette Group. However, entry of local players, particularly in developing countries is observed to be challenging the dominance of the top players.
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