Pharmaceutical Excipients Market to Reach 7.4152 Billion by 2021

(Newswire.net — July 19, 2017) New York City, New York — Growing prevalence of chronic diseases has led to a significant demand for essential medicines in various healthcare institutions, and clinics globally. Easy consumption of these oral medicines has further contributed towards growth of the global market for pharmaceutical excipients. 

Factors Fuelling Growth of the Global Market

Increasing preference for medicines that are relatively more effective has revved up demand for pharmaceutical excipients among the leading drug makers globally. Additionally, growing prevalence of chronic diseases is further likely to impact growth of the global market for pharmaceutical excipients during the predicted period. Extended and sustained release formulations will increasingly gain traction attributed to effective medical dosages. Such factors are likely to contribute towards growth of the global market for pharmaceutical excipients by the end of 2021.

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In contrary to this, increasing physical inspections of manufacturing facilities for excipients by the regulatory authorities has led to imposition of significant operating costs on the manufacturers. Increasing operating costs are likely to inhibit growth of the global pharmaceutical excipients market during the projected period. Further, extensive process for development of the new medical drugs is becoming increasingly accepted in the industry. Such factor will further impact growth of the global market for pharmaceutical excipients negatively by the end of 2021.

Naturally Derived Excipients to Witness Significant Demand

Naturally derived excipients among other products are likely to witness significant demand in the global market for pharmaceutical excipients. This segment is likely to witness an upsurge in demand mainly attributed to relatively less side effects including skin rashes, and flatulence. Additionally, due to an enhanced quality of composition, this segment is likely to witness significant demand in various healthcare institutions, and clinics.

The plant-based excipient among other products is likely to represent nearly one-third of the market share globally by the end of 2021. This segment is likely to bag lucrative opportunities for the global market of pharmaceutical excipients during the predicted period. Starch-derivatives, starch, and microcrystalline cellulose are likely to witness significant demand among other excipients in the global market for pharmaceutical excipients by the end of 2021.

Other segments among various applications use methods of drug delivery that are used less frequently. These drug delivery methods include intra-muscular, suppositories, ophthalmic, and transdermal. Limited manufacturing facilities that are controlled and highly enhanced are likely to inhibit growth of the global pharmaceutical excipient market by 2021. Moreover, anti-microbial contamination is likely to inhibit the development process of excipients such as co-solvents, and solvents in various regions. Such factors are likely to restraint growth of the global pharmaceutical excipients market by 2021.

APAC to Register Fastest Growth

North America among other regions represented a dominant segment in the global pharmaceutical excipients market during the predicted period. The market for pharmaceutical excipients in North America accounted for more than one-third of the revenue share in 2015. APAC among other regions is likely to register fastest growth among other regions. The market in Europe will reflect a healthy growth of 6.1% CAGR during the predicted period.

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Market Players

Major market players operating in the global pharmaceutical excipients market include Evonik Industries AG, BASF SE, The Lubrizol Corporation, Innophos Holdings Inc., Wacker Chemie AG, Ashland Inc., and The Dow Chemical Company.