The Pharmaceutical Excipients Market is likely to scintillate going forward. With various cloud options to explore, the healthcare industry is expected to be at a newer high in the forecast period. In other words, organizations across the globe are advancing their downtime regarding digital business initiatives. They are swiftly moving towards the cloud for modernizing the environments, enhancing system reliability, supporting hybrid work models, and addressing the other new-fangled realities surfacing in recent times. This would be the outlook of the healthcare vertical in the upcoming period.
Microcrystalline cellulose (MCC) is one of the most widely used excipients in Europe and Asia Pacific. The prime reasons contributing to MCC’s popularity is its multi-functionality as a diluent used in direct compression and also that it is an anti-caking agent and an emulsifier. Furthermore, it fulfils all USP standards, which further drives its demand. In addition, manufacture of oral liquid formulations is gaining popularity as a patient-centric drug delivery format, despite having shortcomings such as shorter shelf life and need for airtight packaging. In this context, oral liquid formulation administration is preferred for geriatric and paediatric patients and people suffering from chronic diseases such as cancer with reduced swallowing capacity. Oral liquid formulations provide dosing flexibility, which is particularly suited to oral drugs that are dosed by patient weight or body surface area. However, excipient’s solubility and stability data is extremely important during excipient selection for oral liquid formulations.
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These are some of the important findings of the latest report released by Persistence Market Research which is titled as ‘Pharmaceutical Excipients Market: Global Industry Analysis and Forecast 2017 – 2021’. Besides, this report also has a comprehensive section on the market dynamics affecting the global pharmaceutical excipients market and gives a clear picture regarding the factors that are affecting the market growth. As per the numbers provided in this report, the global pharmaceutical excipients market was valued at US$ 5,682.7 Mn in 2017 and is anticipated to reach a valuation of US$ 7,415.2 Mn in 2021 end, displaying a CAGR of 6.9% during the period of assessment 2017-2021.
- BASF SE,
- Evonik Industries AG,
- Innophos Holdings Inc.,
- The Lubrizol Corporation,
- The Dow Chemical Company,
- Wacker Chemie AG and
- Ashland Inc.
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Global Pharmaceutical Excipients Market: Dynamics
Increasing innovative collaborative research opportunities in pediatric formulations is being pushed through evolution of new regulations, additional funding opportunities, and increased public-private partnerships. This has been shifting focus to development of excipients used in both oral solid and liquid pediatric formulations, which are flexible, dispersible and multi-functional. Furthermore, continued prioritization of unmet medical needs in pediatrics is expected to drive demand for these excipients and oral formulations in the forthcoming years.
It is also noted that stability testing of excipients is one the most important phases in determining the strength and efficacy of a drug. As more drug manufacturers rely on imports to fulfill requirements for excipients, the stability testing phase adds a layer of complexity to the already costly procedures. This results in uncertainty and lower revenue prospects for excipients manufacturers. These factors are likely to act a hurdle to the market growth of pharmaceutical excipients.
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Global Pharmaceutical Excipients Market: Segmentation and Forecast
Global pharmaceutical excipients market is segmented on the basis of chemistry type, application type, functionality and by region.
- Plant-based chemistry type segment has been estimated to witness an increase in market value from US$ 1,650.4 Mn in 2017 to US$ 2,166.8 Mn by 2021.
- Oral applications segment is expected to witness a significant gain in market share during the forecast period, 2017-2021. Parenteral dosage forms are expected to witness lower uptake due to dearth of high purity certified excipients.
- Binders functionality segment is expected to witness increase in market value from US$ 2,494.2 Mn in 2017 to US$ 3,523.8 Mn by 2021, registering a robust CAGR during the period of assessment.
- North America market is expected to remain dominant in terms of production and sales of excipients, accounting for 36.5% of the total pharmaceuticals excipients market value by the end of 2021.
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