Global Excipients Market is Expected to Boost by 2020 due to the Increasing Pharmaceutical Products Demand | Hexa Research
Aug 23, 2016
Rising infections and diseases globally is anticipated to drive the demand for pharmaceuticals which in turn is expected to foster the "excipients market" growth over the forecast period.
Felton, United States - August 23, 2016 /MarketersMedia/ —
Increasing pharmaceutical products demand and growing global geriatric population is expected to boost the global excipient market growth over the next five years. Excipients are inert or inactive substances, used to serve as medium or vehicle for active pharmaceutical ingredients (API). Excipients are generally used as integrants, flavoring agents, binders and coating agents in pharmaceutical industry to manufacture capsules and tablets. Rising infections and diseases globally is anticipated to drive the demand for pharmaceuticals which in turn is expected to foster the excipients market growth over the forecast period. On the basis of WHO study, the pharmaceutical market is worth about $ 300 billion per annum.
The product comprises capability which differentiates drugs from other similar counter parts and brands. This is anticipated to bolster the excipient market growth over the next five years. Pricing pressure due to product generalization is forcing excipient market participants to develop innovative products. These excipients consist of features such as consistent disintegration, flow abilities, mixing ability of active particles and improved compressibility. Stringent regulations regarding excipient and new product safe usage is expected to drive the market growth over the foreseeable future. Unmet high pharmaceutical global demand and innovative developments in excipients is anticipated to witness significant growth over the next five years. Technology advancement to reduce manufacturing cost is projected to create ample opportunities in the global market over the forecast future. Growing demand for pharmaceutical products in emerging nations such as Brazil, Indonesia, India and China is expected to fuel the excipient market over the next five years.
Related Category Market Report @ https://www.hexaresearch.com/research-report/global-herbal-medicine-market
The excipient market is segmented on the basis of product as alcohols, polymers, minerals, and sugar. Polymer was the largest product segment accounting for over 40% of the total volume in 2013. The polymer segment growth is attributed to growing cellulose demand which is used as lubricants, anti-adherent, binders, diluents/filler, coating material and disintegrants in cosmetic and pharmaceutical industries. Alcohol followed polymer segment contributed to the second major market segment in 2013 owing to increasing application of glycerin as moistener and solvent is anticipated to boost the market.
Europe dominated the global excipient market accounting for over 32% of the total revenue generated in 2013 and is expected to be the major market over the next five years. Existence of high geriatric population in Western European nations is the key factor for the market growth in the region. North America followed Europe contributed to second major market in 2013 owing to stringent regulations regarding safe usage of drugs and excipients. Growing demand for personal care products is anticipated to bolster the market growth over the forecast period. Asia Pacific is expected to grow at rapid pace over the next five years on account of increasing population and growing awareness towards health. Growing geriatric population in many nations in the region such as Japan is projected to boost the market growth in the near future.
The global excipient market is moderately consolidated. The key market participants include Huntsman Corporation, P& G, BASF, Danisco A/S and Eastman Chemical Company.
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