Global pharmaceutical excipients market is projected to experience a robust growth during the forecast period mainly owing to the various advantages of pharmaceutical excipients and its promotion by several pharmaceutical administrative across the globe. By application, the oral formulations segment is expected to hold majority of share in the global industry by 2027. The Asia Pacific region is anticipated to create lucrative growth opportunities for the global market during the projected timeframe.
According to a latest report published by Research Dive, the global pharmaceutical excipients market is anticipated to surpass $10,600.0 million and rise at a CAGR of 5.8% over the forecast period from 2020 to 2027.
The Asia Pacific pharmaceutical excipients market is projected to grow at a healthy rate during the forecast period mainly owing to the innovation & advancements in social insurance and the high pace of interest in the clinical field.
The report segments the global pharmaceutical excipients market by Types, Functions, Application, and Region.
– By product, the global market is classified into organic chemicals and inorganic chemicals. Among these, the organic chemicals segment is expected to grow at a significant rate over the forecast period owing to the ongoing interest for herbal or excipients in the market.
– By functions, the global industry is categorized into binders, fillers & diluents, coatings, colorants, disintegrates, flavoring agents, and others. Of these, the fillers & diluents segment are predicted to witness considerable growth by 2027 mainly due to its enormously increasing demand & production for solid oral drugs in the industry.
– By application, the global market is segmented into parenteral formulations, topical formulations, oral formulations, and others. Among these, the oral formulations segment is predicted to hold the largest share in the market mainly because it’s the most extensively recognized medication conveyance course.
– By region, the global industry is divided into Asia Pacific, North America, LAMEA, and Europe. Europe pharmaceutical excipients market is projected to have a dominant position during the forecast period.
Pharmaceutical excipients provides various advantages to the pharmaceutical business, such as preservation of medicines for extended period and affixing the assembling procedure. In addition, a non-benefit pharmaceutical administrative, Federation of International Pharmaceutical Excipients Council (IPEC) promotes the usage of pharmaceutical excipients. These are the significant factors predicted to impel the growth of the global pharmaceutical excipients market over the forecast period. Moreover, the increasing development and rapidly growing pharmaceutical industry across the globe is estimated to provide lucrative growth opportunities for the global market in the coming future. Conversely, the stringent government regulations for drug approvals and higher production cost associated with pharmaceutical excipients are anticipated to hinder the market growth in the projected timeframe.
• Major Market Players
The prominent players of the global pharmaceutical excipients industry include BASF SE, Ashland Global Holdings, Inc., Evonik Industries AG, Archer Daniels Midland Company, Associated British Foods plc, Lubrizol Corporation, Capitasol, Daicel, Croda International, and Dupont Pharma Solutions. The report outlines & includes several aspects of all these industry players such as SWOT analysis, recent strategic moves & developments, financial performance, and product portfolio.