The market is expected to reach USD 8.53 Billion by 2023 from an estimated USD 6.40 Billion in 2018, at a CAGR of 5.9% during the forecast period.
Northbrook, IL -- (SBWIRE) -- 03/28/2018 -- According to a new market research report "Pharmaceutical Excipients Market by Type (Organic chemical (Carbohydrate, Petrochemical), Inorganic chemical), Functionality (Filler, Coating, Disintegrant, Binder), Formulation (Tablet, Capsule, Topical, Parenteral) - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to reach USD 8.53 Billion by 2023 from an estimated USD 6.40 Billion in 2018, at a CAGR of 5.9% during the forecast period. Factors such as the growing pharmaceutical market with the rapidly aging population and increasing incidence of chronic disease, advancements in functional excipients, growing generics market propelled by the patent cliffs, and the rapidly growing biopharmaceuticals sector are driving the growth of the Pharmaceutical Excipients Market. Furthermore, the emergence of multifunctional & co-processed excipients, shifting focus of pharmaceutical manufacturing to emerging markets, and the growing biosimilars industry present significant opportunities for the growth of excipients. However, the increasing regulatory stringency, cost and time-intensive drug development process, and the quality concerns of excipient manufacturers represent a significant challenge to the market growth.
Browse 190 market data Tables and 49 Figures spread through 273 Pages and in-depth TOC on "Pharmaceutical Excipients Market"
Early buyers will receive 10% customization on this report
By product, the organic chemical excipients segment accounted for the largest share of the market
On the basis of products, the organic chemical excipients segment accounted for the largest share of the Pharmaceutical Excipients Market, in 2017. This can be attributed to the use of these excipients in majorly all of the pharmaceutical formulations. They offer advantages such as increased efficacy in oral delivery of poorly soluble molecules along with increased compressibility and flowability properties.
The fillers & diluents segment dominated the market in 2017
Based on functionality, the fillers & diluents segment accounted for the largest share of the Pharmaceutical Excipients Market. The large share can be attributed to the increased use of fillers and diluents in the development and production of solid oral drugs. They improve the taste of the formulation and provide ease of administration (of the drug), along with offering stability, ease in preparation, packaging, shipping, and dispensing of drugs.
Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=956
The parenteral formulations segment is expected to grow at the highest CAGR during the forecast period
By type of formulation, the Pharmaceutical Excipients Market is segmented into oral, topical, parenteral, and other formulations. The parenteral formulations segment is expected to grow at the highest CAGR owing to the increasing incidence of infectious diseases, such as hepatitis, tuberculosis, cardiovascular diseases, diabetes, and cancer, where parenteral formulations are used as a major line of treatment. Also, the emergence of new biologics and biosimilar delivered through the parenteral route will contribute to the market growth.
Europe dominated the market in 2017
Europe accounted for the largest share of the Pharmaceutical Excipients Market in 2017, followed by North America. This regional segment shows significant market growth opportunities owing to the presence of well-established pharmaceutical companies such as Novartis and Roche, whose large production capacities lead to high quantity excipient consumption. Furthermore, many European countries are diverting their attention towards the generics and biologics market which will propel the demand for pharmaceutical excipients.
The prominent players in the Pharmaceutical Excipients Market are Ashland (US), BASF (Germany), DowDuPont (US), Roquette (France), Evonik (Germany), Associated British Foods (UK), Archer Daniels Midland Company (US), Lubrizol (US), Croda (UK), Kerry Group (Ireland), Innophous Holdings (US), WACKER CHEMIE (Germany), and Signet (India).
Know more about the Pharmaceutical Excipients Market:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets