Growing Demand For Additives In The Formulation Of The Generic As Well As Novel Drug Development Process Is Expected To Drive Excipients Market Till 2020:Grand View Research,Inc.
The global excipients market is anticipated to reach USD 5.22
billion by 2020, growing at a CAGR of 6.0% from 2014 to 2020, according to a
new report by Grand View Research, Inc. Growing developments in the field of
medicine formulation and rise in research in the field of dosage technology are
expected to drive this industry through the forecast period.
Introduction of novel
technologies for utilization of generic drugs in the development of new
formulations is expected to boost growth of this industry over the forecast
period. Furthermore, increasing global geriatric population base is anticipated
to significantly raise demand for pharmaceuticals as this segment of the population
is prone to high risk of organ disorders and infections, thereby propelling
market growth.
Increasing demand for diverse
excipients pertaining to interaction with active pharmaceutical ingredients and
ongoing R&D for developing sustained and immediate drug delivery techniques
for novel drugs is also expected to serve as high impact driver for the growth
of this industry over the forecast period.
Polymer segment dominated with
respect to market share in 2014 with over 45% of global excipients revenue.
Factors contributing towards high revenue share of this segment in 2014 include
growing demand for major polymers such as lubricants, anti-adherents,
fillers/diluents, binders, disintegrants, and coating materials in the
pharmaceutical and cosmetic industries.
U.S. excipients market, by
product, 2012-2020 (USD Million)
Browse full research report on
Excipients
Market
Sugar segment is expected to
register fast growth of about 7.0% over the forecast period owing to higher
consumption rate of sugar in different drug formulations. Benefits associated
with use of sugars as sweetening agents and disintegrants such as longer
disintegration times, odorless formulations even on long storage, inert nature,
and low expenses are expected to fuel growth of this segment through to
2022.
Europe was observed to be the
dominant region for excipients industry accounting for 32% of global revenue in
2014 owing to the presence of a large number of pharmaceutical manufacturers,
high demand for medicine products as a consequence of rising geriatric
population base in the western European countries.
Asia Pacific region is expected
to grow at lucrative rate and its revenue is estimated to reach over USD 1,500
million in 2020. Presence of low cost manufacturing options and high unmet
medical needs in countries of this region are factors that are anticipated to
attribute to growth of this industry in the given region through to 2020.
Major players in this industry
include P&G, Avantor Performance Materials, Inc., Huntsman Corporation,
BASF, Eastman Chemical Company, Danisco A/S, Ashland Inc., Roquette, Colorcon,
Inc., FMC Corporation, Evonik Industries, and Lubrizol Corporation. This
industry is competitive in nature marked by high industry rivalry levels.
Players are striving to gain competitive advantage by focusing on stringent
regulations issued by regulatory bodies pertaining to safety of finished
products.
For more information: http://www.grandviewresearch.com
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