Pharmaceutical excipients are constituents comprised in the manufacturing procedure or are confined in a complete pharmaceutical product dosage form. They are neither pharmacologically active drug nor prodrug.
Global Pharmaceuticals Excipients Market size is expected to reach $8.9 Billion by 2024 from $5.3 Billion in 2016, growing at a CAGR of 6.6% from 2016 to 2024. Pharmaceutical excipients are being used as an agent to surge solubility, improving therapeutics effects and as a stabilizing substance in a drug.
Growth of Nano Technology Would Provide Growth Opportunity to Global Pharmaceuticals Excipients Market
Global pharmaceuticals excipients trends are rise in demand of oral solid pharmaceutical drugs, and effort to improve the efficiency & delivery of drugs. Though, high cost of production of excipients, and severe government laws and regulations in pharmaceutical excipients industry may hamper the growth of the global pharmaceuticals excipients market.
Furthermore, evolution of Nano technology is expected to generate many opportunities for the market during the forecast period 201 6 – 2024.
The global pharmaceuticals excipients market has been bifurcated into type, functionality, and geography. Type segment includes organic (carbohydrate, petrochemicals, inorganic (metal oxides, calcium carbonates, calcium phosphates, halites)).
Pharmaceuticals excipients functionality segment is further classified into flavoring agents, viscosity agents, coatings, binders, preservatives, lubricants, and others. Pharmaceutical excipients binders and pharmaceutical excipients preservatives sub segments of functionality are expected to grow at significant rate from 2016 to 2024.
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the key regions of pharmaceuticals excipients market.
Organic sub segment held the highest market share over the forecast period
Organic type dominated the type segment of global pharmaceuticals excipients market with largest market share from 2016 to 2024, driven by its extensive applications in the manufacturing of pharmaceutical drugs.
North America dominated the global pharmaceuticals excipients market with highest market share
North America held the highest market share in 2016 and expected to remain the highest over the forecast period 2016 – 2024, owning to large presence of pharmaceuticals drug manufacturers in the region.
The major players operating in the pharmaceutical excipients market are Ashland, Inc., The Dow Chemical Company, BASF SE, Roquette, Evonik Industries AG, FMC Corporation, Associated British Foods Plc., Lubrizol Corporation, Archer Daniels Midland Company, and Croda International Plc., among others.
Scope of Pharmaceuticals Excipients Market
- Metal oxides
- Calcium carbonates
- Calcium phosphates
- Flavoring agents
- Viscosity agents
- North America
- United Kingdom
- South Korea
- South America
- Middle East
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