Portland, OR -- (SBWire) -- 02/27/2018 --Factors that are likely to impede the market growth include, supply chain issues, high market fragmentation, and implementation of stringent regulations.
Pharmaceuticals Excipients Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $6.4 billion by 2020, registering a CAGR of 7.6% during the period 2015-2020. Organic chemicals would continue to be the highest revenue-generating segment during the forecast period. North America and Europe will continue to be the lead revenue generating economies through 2020. These regions collectively accounted for about three-fourth of share in the global pharmaceutical excipients market in 2015.
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Pharmaceutical excipients are inert substances, other than the pharmacologically active drug, which are included in the manufacturing process or are present in the pharmaceutical product dosage form. Excipients are widely used in drug formulation to provide long-term stability, add bulkiness to solid formulations and facilitate drug absorption. They also enhance the overall safety or functionality of the product during storage or use. The world pharmaceutical excipients market size is evaluated to reach 728.4 kilo tons in volume by 2020, accounting for a revenue of $6.4 billion.
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Binders segment generated highest revenue in 2015 and is anticipated to maintain this trend throughout the forecast period. This is attributed to the higher use of binders in pharmaceutical drugs as compared to fillers and diluents. However, fillers and diluents led this segment in terms of volume (units) in 2015 and accounted for about one fourth of the overall market. Economical cost and high popularity of fillers and diluents across pharmaceutical and excipient industries were the key factors responsible for the dominance of filler and diluents segment.
PHARMACEUTICAL EXCIPIENTS MARKET KEY SEGMENTS:
By Type
Inorganic Chemicals
Calcium Phosphates
Calcium Carbonate
Calcium Sulfate
Halites
Metallic Oxides
Organic Chemicals
Carbohydrates
Sugar
Starch
Cellulose
Petrochemicals
Glycols (alcohol)
Povidones polymers
Mineral Hydrocarbons
Oleochemicals
Gelatin (Proteins)
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Pharmaceutical Excipients Market Is Expected to Reach $6.4 Billion, Globally, by 2020
Factors that drive the global pharmaceutical excipients market are rising demand for pharmaceutical drugs, increasing popularity of functional excipients, drug pipeline, development of novel excipients, and increasing generic drugs market caused by expiration of various bestseller drugs patents.