Research Nester has released a report titled “Pharmaceutical Excipients Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the pharmaceutical excipients market in terms of market segmentation by product, by functionality, by formulation and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The pharmaceutical excipients market is segmented by formulation into oral, topical, parenteral and others, out of which, the oral formulation segment is anticipated to hold largest market share on account of requirement of more amount of excipients by oral dosage forms in the drug manufacturing process. Additionally, owing to factors such as difficulty in swallowing of conventional hard solid tablets, drug manufacturers are shifting their focus towards innovative solid oral product forms, such as oral disintegrating granules (ODGs), effervescent tablets, lozenges and others, which is raising the demand for pharmaceutical excipients.
The pharmaceutical excipient market is anticipated to record a CAGR of around 5.01% during the forecast period, i.e. 2019-2027. Growing pharmaceutical industry, rising adoption of orphan drugs, advancements in functional excipients, shifting focus of pharmaceutical manufacturing to emerging markets and growing biosimilars industry globally are some of the notable factors that are estimated to promote the demand for pharmaceutical excipients throughout the forecast period.
Regionally, the pharmaceutical excipient market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Europe is expected to have largest market share on the back of high consumption of excipients by the pharmaceutical giants, whose presence are large in number in the region. Furthermore, growing emphasis on superior pharmaceutical products, generics and biosimilars is raising the demand for novel excipients, which in turn is estimated to propel the growth of the market in the region over the forecast period.
Growing Demand For Medicines Globally
In the projections provided by World Health Organization (WHO), it is estimated that total deaths caused by communicable, maternal, perinatal, nutritional, noncommunicable and injuries will peak 101,831 thousands from 56,873 thousands in-between 2016 and 2060.
Rising number of diseases and the growing geriatric population, coupled with the increasing projections of mortality rates, all are adding up to the growing consumption of medicines, which is raising the demand for production of pharmaceutical drugs amongst drug manufacturers. The rising demand for manufacturing of drugs is also anticipated to raise the demand for pharmaceutical excipients, as sufficient amount of raw materials are required in the drug manufacturing processes. The rise in demand for raw materials in the drug manufacturing process is anticipated to contribute significantly towards the growth of the market.
However, concerns for high cost of production of pharmaceutical excipients coupled with stringent government norms is expected to operate as key restraint to the growth of the pharmaceutical excipients market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global pharmaceutical excipients market, which includes company profiling of DuPont de Nemours, Inc. (NYSE: DD), Roquette Frères, Ashland (NYSE: ASH), BASF SE (ETR: BAS), Evonik Nutrition & Care GmbH, SPI Pharma, Archer Daniels Midland Company (NYSE: ADM), The Lubrizol Corporation, Croda International Plc (LON: CRDA), and Innophos (NASDAQ: IPHS). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the pharmaceuticals excipients market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.