Global Pharmaceutical Excipients Market 2017-2021
About Pharmaceutical Excipients
Pharmaceutical excipients are inert substances that are generally used to manufacture different forms of drugs and are present in the finished products. Excipients help in providing long-term stability and make solid formulations bulkier. They also improve the functionality of drugs and make them safer.
Technavio’s analysts forecast the global pharmaceutical excipients market to grow at a CAGR of 6.53% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global pharmaceutical excipients market for 2017-2021. To calculate the market size, the report considers the sales of pharmaceutical excipients based on their functionalities, which include binders and fillers, coating agents, disintegrants, flavoring agents and colorants, glidants and lubricants, preservatives and antioxidants, sweeteners and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pharmaceutical Excipients Market 2017-2021
Technavio recognizes the following companies as the key players in the global pharmaceutical excipients market: ADM, Ashland, BASF, Evonik Industries, and Dow Chemical.
Other Prominent Vendors in the market are: Associated British Foods, FMC, Lubrizol, and Roquette Pharma.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is demand for new excipients to develop easily consumable drugs. The global pharmaceutical excipients market is significantly driven by the increasing demand for drugs that can be consumed orally. The need to produce drugs that can be swallowed easily, primarily to enhance patient comfort, especially for older people and infants, plays a major role in pushing drug manufacturers to produce easily consumable tablets. This factor, in turn, is fueling the development of new excipients in the pharmaceutical industry.”
According to the report, one of the major drivers for this market is growth in the pharmaceutical industry. The global pharmaceutical market is primarily driven by factors like changing lifestyles and unhealthy eating habits, an expanding aging population base, and increasing occurrences of chronic diseases.
Further, the report states that one of the major factors hindering the growth of this market is decreasing R&D expenditures. R&D efforts play a vital role in the development of any industry, and the global pharmaceutical excipients market is no exception. However, the R&D investments in the market are declining at present, which will have a negative impact on the growth of the market over the next five years.
ADM, Ashland, BASF, Evonik Industries, Dow Chemical, Associated British Foods, FMC, Lubrizol, Roquette Pharma.
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