Pharmaceutical Excipients Global Market Expected to Grow at 7.3% CAGR by 2022
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Pharmaceutical excipients are inactive substances in the drug which helps in modulating solubility, bioavailability and stability of active substances for formulating final drug dosage forms. The excipients form the major part of any medicinal product and proportion of it when compared to Active Pharmaceutical Agent (API) exceeds two to three fold in any pharmaceutical preparations. Hence, various charaterstics such as functionality, regualtory status, sources, cost, consistency, bio availability, physicochemical properties, stability, and pharmacokinetic parameters etc play a major role in determine sutibaility of a substance as excipient.
As estimated by Researcher the pharmaceutical excipient global market is poised to grow at a mid range single digit CAGR to reach $7,716 million by 2022. Pharmaceutical excipient market is segmented by source, products, process, functionality, drug dosage forms and finished products. In source excipients market, plant-based excipients holds major share and is fastest growing segment at a CAGR of 7.3%. By products it is segmented into inorganic chemicals, organic chemicals and pharmaceutical water, among which organic chemicals holds major share and others segment is the fastest growing segment. Inorganic chemicals are further segmented into calcium salts, halites, metallic oxides, silicates and other inorganic chemicals, among which metallic oxides holds major share of 44.0%. Organic chemicals are further divided into carbohydrates, petrochemicals, oleochemicals, proteins and other organic chemicals, among which carbohydrates holds major share. By process it is segmented into granulation and direct compression methods. By functionality type, binder & adhesives holds major share with a strong CAGR of 7.7% from 2015 to 2022.
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By dosage forms, it is segmented into oral, topical, parenteral and advanced, among which oral dosage forms holds major share and is the fastest growing segment. By finished products, it is segmented into prescription and Over-The-Counter (OTC) products. In finished products segment, prescription drugs holds major share with a strong CAGR of 6.5%. Geography segment is divided into North America, Europe, Asia-Pacific, rest of the world (ROW) where North America holds largest share of 39.40% and Asia-Pacific is fastest growing region from 2015 to 2022.
Additionally, top selling pharmaceutical excipient lists are identified. North America holds the largest share in the pharmaceutical excipient market due to rising demand for pharmaceutical and biopharmaceutical drugs and presence of a large number of excipient manufacturers in this region. Europe holds second major share followed by Asia-Pacific and Rest of the World. Asia-Pacific is the fastest growing region where emerging countries such as China and India are the major players due to low labour costs, increased outsourcing of inorganic & organic chemicals manufacturing and increasing governmental spending on healthcare.
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Presently, there is demand for the development of novel excipients with technological advancements like new chemical entity excipients, new chemically modified grade excipients, existing excipients with the various route of administration and co-processed excipients. These novel excipients increase the scope for the development of new formulations and drug delivery system which is a major gain for the industry, but high cost and lengthy developmental process along with the safety and quality issues are delaying the excipients approval. Combination excipients are mostly preferred by the manufacturers as the single excipients do not meet all the functional requirements such as high solubility, stability and bioavailability.
The pharmaceutical excipient global market is a highly competitive market hence all the existing players in this market are involved in developing new and advanced therapeutics to maintain their market shares. Some of the key players contributing at global level for pharmaceutical excipient market growth are Ashland Inc (U.S.), Associated British Foods Plc (U.K.), Avantor Performance Materials, Inc (U.S.), BASF SE (Germany), Croda International Plc (U.K.), Dow Chemical Company (U.S.), Evonik Industries AG (Germany), FMC Corporation (U.S.), Lubrizol Corporation (U.S.) and Roquette (France).
Table Of Contents – Major Key Points
1 EXECUTIVE SUMMARY 27
2 INTRODUCTION 31
2.1 KEY TAKEAWAYS 31
2.2 REPORT DESCRIPTION 32
2.3 MARKETS COVERED 34
2.4 STAKEHOLDERS 36
2.5 RESEARCH METHODOLOGY 36
2.5.1 MARKET SIZE ESTIMATION 39
2.5.2 MARKET CRACKDOWN & DATA TRIANGULATION 41
2.5.3 SECONDARY SOURCES 42
2.5.4 KEY DATA POINTS FROM SECONDARY RESOURCES 43
2.5.5 PRIMARY SOURCES 44
2.5.6 KEY DATA POINT FROM PRIMARY SOURCES 44
2.5.7 ASSUMPTIONS 44
3 MARKET ANALYSIS 46
3.1 INTRODUCTION 46
3.2 MARKET SEGMENTATION 47
3.3 FACTORS INFLUENCING MARKET 49
3.3.1 DRIVERS AND OPPORTUNITIES 50
3.3.1.1 Development of multifunctional excipients 50
3.3.1.2 Increased demand for solubility enhancing excipients 50
3.3.1.3 Rising demand for sustained or controlled release formulations 51
3.3.1.4 Strategic partnership/alliances by excipient manufacturers 51
3.3.2 RESTRAINTS AND THREATS 52
3.3.2.1 Less interest in developing novel excipients 52
3.3.2.2 Contamination in formulations 53
3.3.2.3 High market fragmentation with low-profit margins 54
3.3.2.4 Demand for safe and quality excipients by regulatory authorities 54
3.4 REGULATORY AFFAIRS 55
3.4.1 U.S. 55
3.4.2 EUROPE 56
3.4.3 ASIA-PACIFIC 57
3.4.4 REST OF THE WORLD 59
3.5 PORTER’S FIVE FORCE ANALYSIS 60
3.5.1 THREAT OF NEW ENTRANTS 61
3.5.2 THREAT OF SUBSTITUTES 61
3.5.3 RIVALRY AMONG EXISTING COMPETITORS 61
3.5.4 BARGAINING POWER OF BUYERS 62
3.5.5 BARGAINING POWER OF SUPPLIERS 62
3.6 SUPPLY CHAIN ANALYSIS 63
3.7 NOVEL EXCIPIENT 67
3.8 EXCIPIENTS – MOLECULE TYPE 68
3.9 EXCIPIENTS – AVERAGE SELLING PRICE 73
3.10 MARKET SHARE ANALYSIS 77
4 PHARMACEUTICAL EXCIPIENTS GLOBAL MARKET, BY SOURCE 80
4.1 INTRODUCTION 80
4.2 ANIMAL-BASED EXCIPIENT 82
4.3 PLANT-BASED EXCIPIENTS 84
4.4 MINERAL-BASED EXCIPIENTS 86
4.5 SYNTHETIC-BASED EXCIPIENTS 88
5 PHARMACEUTICAL EXCIPIENTS GLOBAL MARKET, BY PRODUCT 90
5.1 INTRODUCTION 90
5.2 INORGANIC CHEMICALS 93
5.2.1 CALCIUM SALTS 97
5.2.1.1 Calcium phosphate 98
5.2.1.2 Calcium carbonate 100
5.2.1.3 Calcium sulfate 101
5.2.2 HALITES 103
5.2.3 METALLIC OXIDES 105
5.2.4 SILICATES 106
…. CONTINUED
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