The report " Pharmaceutical Excipients Market, by Product (Organic Chemicals and Inorganic Chemicals), by Functionality (Fillers and Diluents, Binders, Disintegrants, Lubricants And Glidants, and Others (Coating Agents, Preservatives, Emulsifying Agents, and Flavoring Agents And Sweeteners)), by Formulation (Oral Formulations, Topical Formulations, Parenteral Formulations, and Others (Vaginal Inhaled, Ophthalmic, and Optic)), and Region - Global Forecast to 2029"
Pharmaceutical Excipients Market accounted for US$ 6.52 billion 2020 and is estimated to be US$ 10.49 billion by 2030 and is anticipated to register a CAGR of 5.3%. This is attributed to excipients have been provide better functionality and competitive advantage in drug formulations in turns increases demand from pharmaceutical industry. Furthermore, rising demand for generic medicine across the globe the global pharmaceutical excipients market.
Key Highlights:
· On December 2016, Merck & Co., Inc launched “Parteck MXP” which is a polyvinyl alcohol-based excipient that enhances solubility of a wide range of active.
· On February 5, 2019, ABITEC Corporation launched “CAPMUL GDB EP/NF”. This is high-purity, highly-reproducible solid lipid exipient which offers good flow and uniform particle size distribution for use in multiple fomrulations, including tablets, hard gels, softgels, solid lipid nanoparticles, nano-structured lipids, granulations, multi-particulates, extrudates, congealing, and liquids.
Key Market Insights from the report:
The global pharmaceutical excipients market accounted for US$ 10.49 billion by 2030 and is projected to register a moderate CAGR of 5.3%. over the forecast period. The market report has been segmented on the basis of product, functionality, formulation, and region.
· By product, the organic chemical is segment accounted for major revenue share in 2018, owing to it this organic chemicals increases efficiency regarding poorly soluble orally delivered molecules.
· By functionality, fillers and diluents is segment accounted for major revenue share in 2018, due to increasing use of fillers and diluents in the development and production of solid oral drugs.
· By formulation, parenteral formulations is segment accounted for major revenue share in 2018, attributed to parenteral formulations is major line treatment for infectious diseases, hepatitis, tuberculosis, cardiovascular diseases, diabetes, and cancer.
· By region, The Europe pharmaceutical excipients market is expected to dominate in the global pharmaceutical excipients market and is further anticipated to maintain its dominance over the forecast period, owing to presence of European Medicines Agency’s scientific guidelines on excipients, which facilitates pharmaceutical entities to prepare marketing authorization applications for medicines for human consumption in the European countries. The North America pharmaceutical excipients market is expected to account for second-highest share in terms of revenue in the near future, followed by Asia Pacific in 2018.
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The prominent player operating in the global pharmaceutical excipients market includes Eastman Chemical Company, The Procter & Gamble Manufacturing Company, Merck & Co., Inc., Avantor Performance Materials, LLC, Huntsman Corporation, ABITEC Corporation, BASF SE, Ashland Global Holdings Inc, FMC Corporation, Colorcon, Inc, and Roquette Frères S.A.
