PUNE, India, June 16, 2016 /PRNewswire/ --
According to a new market research report "Pharmaceutical Excipients Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), Functionality (Filler, Binder, Lubricant, Preservative), Formulation (Oral, Topical, Coating, Parenteral) - Global Forecast to 2021", published by MarketsandMarkets, The global market is expected to reach USD 8.1 Billion by 2021, at a CAGR of 6.1% from 2016 to 2021.
Browse 194 market data Tables with 46 Figures spread through 256 Pages and in-depth TOC on "Pharmaceutical Excipients Market"
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This report studies the pharmaceutical excipients market over the forecast period of 2016-2021. In this report, the pharmaceutical excipients market is segmented by product, delivery form, functionality, and region. It also discusses the key market trends, drivers, restraints, challenges, and opportunities in this market and its submarkets.
The growth of the market is attributed to the increasing demand for functionality excipients, recent patents expiries driving the demand for pharmaceutical excipients in generic drug manufacturing, advancements in nanotechnology, and the emergence of new excipients for the pharmaceutical industry. However, decline in the R&D investments and increasing regulatory requirements are expected to hinder the market growth.
In 2015, Europe accounted for the largest share of the global pharmaceutical excipients market, followed by North America and Asia-Pacific. The presence of a large number of pharmaceutical excipients manufacturers in the European and North American regions has led to their large shares in the pharmaceutical excipients market. However, the Asia-Pacific region is projected to register the highest growth during the forecast period.
In 2015, the organic chemicals segment accounted for the largest share of the pharmaceutical excipients market, followed by inorganic chemicals. The large share of organic chemicals can be attributed to the wide applications in the manufacturing of pharmaceutical drugs.
Amongst formulations, oral formulations accounted for the largest share of the pharmaceutical excipients market in 2015, owing to the shrinking pipeline of new chemical entities (NCEs), and focus on the development of orally disintegrating tablets (ODTs) and other novel methods of oral drug delivery. There is also a growing trend towards the formulation of sachets. Topical formulations are expected to grow at the highest CAGR during the forecast period.
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The major players in the pharmaceutical excipients market include Ashland, Inc. (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Roquette (France), FMC Corporation (U.S.), Evonik Industries AG (Germany), Associated British Foods Plc. (U.K.), Archer Daniels Midland Company (U.S.), Lubrizol Corporation (U.S.), and Croda International Plc. (U.K.).
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