Global pharmaceutical excipients market is tremendously growing and is estimated to reach USD5.4 billion by 2021

Following the growth of healthcare expenditure in Asia during the last decade, demand for pharmaceutical excipient in APAC has risen sharply and the market for the same in APAC is anticipated to reach $5.4 billion by 2021.

According to the market research report “Pharmaceutical Excipients Market: By Product (Organic and Inorganic); By Functionality (Filler/diluents, Lubricants, Disintegrants, Binders and Others); By Geography – Forecast (2017 – 2021)published by IndustryARC, estimates the market to reach $5.41 billion by 2021.

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Excipients play an important role in formulating a dosage form. These are the ingredients which along with active pharmaceutical ingredients make up the dosage forms. Excipients act as protective agents, bulking agents and can also be used to improve bioavailability of drugs in some instances. Ongoing trends such as the rollout of universal healthcare, expansion of Asia-based drug maker companies into the region are expected to continue shaping the Pharmaceutical Excipients market.

Organic products constitute a major share in the overall pharmaceutical excipients market.Organic excipients are derived from plants and animals and they possess benefits such as non-toxic, stable, easily available, associated with less regulatory issues as compared to their synthetic counterpart and are also inexpensive. Now a days consumers are concerned towards natural ingredients in food & drugs and cosmetics as they believe that anything natural will be more safe and devoid of side effects. Growing usage of pharmaceutical excipients in general healthcare industry as well as the constant need to develop medicines which are absorbed by the body more efficiently is quickly gaining pace in the market. This parameter of medicines is controlled by the excipients, which in turn would increase the focus on the excipients added to the medicines and thus, increase their sales.

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Based on functionalities of pharmaceutical excipients, the market is segmented into filler/diluents, lubricants, disintegrants, binders and more. The key segmentations for pharmaceutical excipients market include by product, functionality and by geography.

The increased spending on healthcare by developing countries is set to increase the utilization of pharmaceutical excipients.

The global pharmaceutical excipients market is estimated to grow at a CAGR of 6.2% during the forecast period and will reach $5.41 billion by 2021. As the concern for healthcare increases globally, the percentage of GDP dedicated to healthcare is rising in the developing economies. As the developing nations are home to 85% of the world’s population, they will provide strong growth opportunities for the market. The pharmaceutical industry will recorded a higher expenditure towards new product developments and mergers and acquisitions in the second half of 2016, when compared to the first six months of the year

The major driving forces of this market are: increasing incidences of chronic diseases owing to sedentary lifestyles; substantial investments by the pharmaceutical companies in development of medicines; and the implementation of new techniques such as nanotechnology. However, the major challenges currently faced by the pharmaceutical industry are: decreasing the side-effects of drugs; and developing environmental-friendly manufacturing processes. Ever-increasing demand in the emerging markets such as Asia -Pacific and Latin America is proving to be a lucrative opportunity for the pharmaceutical market players, due to the fact that they can plan suitable expansion strategies and introduce new and innovative products, in these regions.

The market of pharmaceutical excipients has been segmented into Americas, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, Europe is the prominent region for pharmaceutical excipients market and is estimated to grow with CAGR of 6.2% during the forecast period. The growth in APAC is estimated to experience rising trend due to growing healthcare concerns as well as healthcare expenditures in various regions.

The Prominent Players in this Market Include

  • Dow Plastic Additives

  • Evonik Industries AG

  • BASF SE

  • FMC Corporation (Cheminova A/S)

  • Ashland Inc.

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Pharmaceutical excipient companies through its broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their hold over the excipients market. The market is highly fragmented with the top players contributing a bit more than 3% in the total revenue for pharmaceutical excipients. There are many small players in the market that produces pharmaceutical excipients on a moderate scale thus serving the market.

Among all the top players BASF SE holds the maximum share in excipients market followed Evonik Industries, FMC Corporation and the Dow Chemical Company. Although the market is growing at a good pace the major players have a less hold of the market owing to high fragmented nature. The market is moderately capital intensive market thus giving chance to new entrants to manufacture this product and survive in the market. With various product launches, mergers, acquisitions, collaborations and other strategies, these companies are obtaining pharmaceutical excipients market shares in the industry.

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