Pharmaceutical Excipients Market Exhibits Higher Growth Prospects during 2018-2026 | Key Players are BASF SE, The DOW Chemical Company,

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Pharmaceutical excipients are critical components of a pharmaceutical dosage form, ensuring drug safety and efficacy. Therefore, compatibility with API, adjacent excipients and dosage form are essential factors that need to be considered while selecting an excipient. Various types of excipients are used in a pharmaceutical formulations. This includes binders, diluents, glidents, disintegrants, emulsifiers, compressing agents, taste masking agents, lubricants, coating agents, sweeteners, and vehicles (base). Use of excipients is high in oral and topical dosage forms compared to parenteral. These excipients are extracted from different sources such as plant, animals, and minerals or are synthetically developed. The International Pharmaceutical Excipients Council (IPEC), formed in 1991, focuses on harmonizing manufacturing standards for pharmaceutical excipients globally.

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Market Dynamics

Demand for high-quality excipients is more in developed economies, while affordability is the key criteria considered for price sensitive emerging economies. China has emerged as the largest supplier of low-cost pharmaceutical API and excipients. India is the other fast emerging market to which production of excipients is outsourced owing to lower labor and production costs. North America and Europe lead the market for excipients as the number of excipient manufacturers are high in these regions. Moreover, high cost of manufactured excipients generates higher revenue for these regions compared to cost of material produced by manufacturers in Asia Pacific. However, growing pharmaceutical drug price pressure across the globe is expected to drive growth of the markets in China and India characterized by high supply of low cost excipients.

Increasing demand for oral dosage forms is projected to propel the market growth for pharmaceutical excipients in oral application during the forecast period. Moreover, patent expiry of blockbuster drugs would fuel demand for pharmaceutical excipients in the near future. However, regular inspection of FDA approved manufacturing sites by local regulatory authorities is impacting supply of pharmaceutical excipients globally.

Market Taxonomy

This report segments the global pharmaceutical excipients market on the basis of chemistry, functionality, application, and geography. On the basis of chemistry, the market is categorized into plants, animals, minerals and synthetic sources. On the basis of functionality, the market is segmented into binders, diluents, glidents, disintegrants, and others. The application segment is divided into oral, parenteral, topical and others. For comprehensive understanding of market dynamics, the global pharmaceutical excipients market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Key companies covered as a part of this study include BASF SE, The DOW Chemical Company, Evonik Industries, FMC Corporation, Croda International PLC, Ashland Inc., Roquette Group, Lubrizol Corporation, Innophos Holdings Inc. and MEGGLE Group Wasserburg BG Excipients & Technology

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About Author

William Clarke is the lead editor for Oak Tribune. William has written for many publications including the New York Post Vanity Fair and Business Insider. William is based in New York city and covers issues affecting his city and his country. In addition to following the day-to-day life of the Big Apple, William also has a passion rowing and can often be found paddling the shores of NYC.