Pharmaceutical Excipients Market by Type (Organic chemical (Carbohydrate, Petrochemical), Inorganic chemical), Functionality (Filler, Coating, Disintegrant, Binder), Formulation (Tablet, Capsule, Topical, Parenteral) - Global Forecast to 2023

Pharmaceutical Excipients Market by Type (Organic chemical (Carbohydrate, Petrochemical), Inorganic chemical), Functionality (Filler, Coating, Disintegrant, Binder), Formulation (Tablet, Capsule, Topical, Parenteral) - Global Forecast to 2023

“The pharmaceutical excipients market is projected to grow at a CAGR of 5.9% between 2018 and 2023.”
The pharmaceutical excipients market is expected to reach USD 8.53 billion by 2023 from USD 6.40 billion in 2018, at a CAGR of 5.9%. The overall growth of the pharmaceutical excipients market is largely driven by the growing pharmaceutical market along with the advancements in functional excipients, growing generics market, rapidly growing biopharmaceuticals sector, emergence of multifunctional & co-processed excipients, shifting focus of pharmaceutical manufacturing to emerging markets, and the growing biosimilar industry. However, the increasing regulatory stringency, cost and time-intensive drug development process, and the quality concerns of excipient manufacturers represent a significant challenge to the market growth.

“The lubricants and glidants segment is expected to grow at the fastest rate during the forecast period.”
On the basis of functionality, the pharmaceutical excipients market is segmented into fillers & diluents, binders, suspending & viscosity agents, flavoring agents & sweeteners, coating agents, colorants, disintegrants, lubricants & glidants, preservatives, emulsifying agents, and other functionalities. The lubricants & glidants segment is expected to grow at the highest CAGR during the forecast period. This is primarily attributed to the rising uptake of these excipients to reduce clumping of ingredients and friction between a tablet and the dye cavity along with increasing flowability.

“APAC to witness the highest growth during the forecast period”
Geographically, the pharmaceutical excipients market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, Europe commanded a major share of the pharmaceutical excipients market. However, Asia Pacific is expected to witness the highest growth during the forecast period. The significant growth of the Asia Pacific market is mainly attributed to the low labor and manufacturing costs in China and India, cost-effective outsource manufacturing processes, increasing generic drug manufacturers, and less stringent regulations.

Break of primary participants:
• By Company Type – Tier 1: 45%, Tier 2–33%, and Tier 3–22%
• By Designation – C Level: 43%, Director Level: 38%, and Others: 19%
• By Region – North America: 41%, Europe: 30%, Asia Pacific: 23%, and Rest of the World: 6%

The players competing in this market are DowDuPont (US), Ashland (US), BASF (Germany), Roquette (France), Evonik (Germany), Associated British Foods (UK), Archer Daniels Midland Company (US), Lubrizol (US), Croda (UK), Innophous Holdings (US), Kerry Group (Ireland), WACKER CHEMIE (Germany), and Signet (India).

Research Coverage:
The report analyzes the various types of pharmaceutical excipients in the market and their adoption patterns. It aims at estimating the market size and future growth potential of the pharmaceutical excipients market for different segments such as product, functionality, type of formulations, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and market strategies.

Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below-mentioned five strategies for strengthening their market position.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the pharmaceutical excipients market
Product Development/Innovation: Detailed insights on the upcoming trends, research and development activities, and new product launches in the pharmaceutical excipients market
Market Development: Comprehensive information about lucrative emerging markets by product, functionality, type of formulations, and region
Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the pharmaceutical excipients market
Competitive Assessment: In-depth assessment of growth strategies, products, and manufacturing capabilities of leading players in the pharmaceutical excipients market