Latin America Pharmaceutical Excipients Market by Functionality (Fillers, Coating, Disintegrants, Binders, Lubricants, Preservatives, Emulsifying Agents, Lubricants, Glidants, Diluents), Country (Mexico, Argentina, Columbia, Peru) - Forecast to 2024
“The LATAM pharmaceutical excipients market is projected to grow at a CAGR of 7.5% during the forecast period (2019-2024).”
The Latin America pharmaceutical excipients market is projected to reach USD 579 million by 2024 from USD 403 million in 2019, at a CAGR of 7.5%. Factors such as the growing pharmaceuticals industry coupled with advancements in functional excipients, the growing generics market propelled by patent cliffs, and the rapidly growing biopharmaceuticals sector are driving the market for pharmaceutical excipients. The emergence of multifunctional and co-processed excipients, shifting focus of pharmaceutical manufacturing to emerging markets, and the growing biologics & biosimilars industry also present significant opportunities for market growth. However, the increasing regulatory stringency regarding the approval of drugs and excipients along with the cost and time-intensive drug development process are expected to restrain the growth of this market during the forecast period.
“The lubricants & glidants segment is expected to grow at the highest rate during the forecast period.”
Based on functionality, pharmaceutical excipients are categorized as fillers & diluents, binders, suspending & viscosity agents, flavoring agents & sweeteners, coating agents, colorants, disintegrants, lubricants & glidants, preservatives, emulsifiers & solubilizers, and other functionalities. The lubricants & glidants segment is projected to witness the highest growth in the LATAM pharmaceutical excipients market during the forecast period. This growth is attributed to the benefits of lubricants to reduce the clumping of ingredients and friction between a tablet and the dye cavity, ensuring tablet formation, and the advantages of glidants to improve the flow properties of a formulation by reducing interparticle friction and cohesion.
“Argentina is projected to witness the highest growth during the forecast period.”
Argentina is expected to register the highest growth in the LATAM pharmaceutical excipients during the forecast period. The rising production & consumption of pharmaceutical products, large pool of domestic pharmaceutical manufacturers, rising pharmaceutical expenditure, growing investments by multinational market players in Argentina, growing production of biosimilar products, and rising burden of diseases are factors driving the growth of this segment.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1-48%, Tier 2-34%, and Tier 3-18%
By Designation: C-level-42%, Director-level-40%, and Others-18%
By Region: North America-38%, Europe-25%, Asia Pacific-30%, Latin America-5%, and the Middle East & Africa-2%
The prominent players in the Latin American pharmaceutical excipients market are DowDuPont (US), Roquette (France), Ashland (US), BASF (Germany), and Kerry Group (Ireland).
The report analyzes the market for various pharmaceutical excipients and their adoption pattern. It aims at estimating the market size and future growth potential of the pharmaceutical excipients market and the different segments such as by functionality. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product & service offerings, and recent developments.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies for strengthening their market presence.
This report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the Latin America pharmaceutical excipients market.
Product & Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product or service launches in the Latin America pharmaceutical excipients market.
Market Development: Comprehensive information on lucrative emerging regions.
Market Diversification: Exhaustive information about new products and services, growing geographies, and recent developments in the Latin America pharmaceutical excipients market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and products of the leading players in the Latin America pharmaceutical excipients market.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook