- The worldwide excipients market is predicted to expand at around 6.7 percent CAGR during the period of 2014 to 2019. Rising demand for useful excipients, copyright cliffs raising the demand for generics, and production of new excipients are some of the significant drivers of the market. The pharmaceutical industry is experiencing steady inclination towards the utilization of nanotechnology.
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Nanotechnology assists in passing on new functions to pharmaceutical excipients. Liposomal and nanotechnology-enabled drug delivery systems are few of the innovative drug delivery systems under limelight. Reduced spendings in research and developments by the manufacturers of excipients and augmenting regulatory needs causing the shortage of F.D.A. sanctioned manufacturing sites could restrain the flow of the excipients market.
The worldwide market is fragmented on the basis of four categories. These are functionalities, products, administration routes, and regions. The sector of functionalities is segmented further on account of coatings; binders; diluents and fillers; and viscosity and suspension agents. The remaining ones are flavoring agents; preservatives; glidants and lubricants; and colorants.
The products excipients market is divided in view of organic chemicals, and inorganic chemicals. Considering the administration routes, the market can be fragmented into parenteral, topical, oral, and others. The regions market is sliced on the basis of four. These are North America, Asia Pacific, rest of the world, and Europe.
Europe leads the global market and is pursued by North America, and Asia Pacific. The region occupied about 32 percent share in 2014. Rising investments on new drugs, and constant attempts by pharmaceutical companies to provide quality products will drive the markets of Europe and North America.
The Asian Pacific excipients market is estimated to produce decent profits in the coming years. The income of this region would surpass USD 1, 500 million by 2020. Asia Pacific would also notice the highest development in the future. This is owing to firms across the world outsourcing their excipients’ production operations to China and India. Both these nations have low employment and manufacturing costs.
Some prominent players in the excipients market include Colorcon, Inc., Huntsman Corporation, and Lubrizol Corporation. The others are Avantor Performance Materials, Inc., BASF, and FMC Corporation. These players are attempting to get a better market grip in comparison to others.
Information Source: Grand View Research
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