Pharmaceutical Excipients Market To Expand With Growing Demand For Medicines Globally By A CAGR Of Around 5.01% Throughout 2019-2027
SummaryThe statistics portray the growing need for consumption of medicines amongst consumers around the globe and to follow a healthy lifestyle habitat.
- Author Company: Research Nester
- Author Name: Jacob Dowling
- Author Website: https://www.researchnester.com/
Research Nester has released a report titled “Pharmaceutical Excipients Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The World Health Organization (WHO) projects that a total of 101,831 thousand numbers of deaths will be caused by communicable, maternal, perinatal, nutritional, noncommunicable and injuries in 2060 from that of 56,873 thousands in 2016.
The statistics portray the growing need for consumption of medicines amongst consumers around the globe and to follow a healthy lifestyle habitat. With growing consumption of drugs, it is anticipated that drug manufacturing companies will need to increase their production, which in turn is anticipated to raise the demand for pharmaceutical excipients as one of the major raw materials in the drug manufacturing process.
Growing pharmaceutical industry, coupled with rising adoption of orphan drugs, advancements in functional excipients, increasing uptake of biopharmaceuticals, emergence of multifunctional excipients and the growing biosimilars industry, all of these factors are anticipated to support the growth of the pharmaceutical excipients market. In the statistics provided by Organisation for Economic Co-operation and Development (OECD), export market share of the pharmaceutical industry in Switzerland peaked 13.43% from 9.80% in-between 2006 and 2017.
The pharmaceutical excipients market is anticipated to record a CAGR of around 5.01% during the forecast period, i.e. 2019-2027. The market is segmented by formulation into oral, topical, parenteral and others. Among these segments, oral formulation segment is anticipated to hold largest market share, owing to the requirement of more amount of excipients by oral dosage forms. Additionally, easy consumption of oral solid drug formulations and difficulties faced by patients in swallowing conventional hard solid tablets are some of the notable factors that are significantly supporting the growth of the market.
Geographically, the pharmaceutical excipient market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, Europe is expected to have largest market share on the back of presence of a large number of pharmaceutical giants. Increasing consumption of excipients by these giants coupled with shifting demand for superior pharmaceutical products, generics and biosimilars is anticipated to fuel the growth of the market in the region over the forecast period.
However, higher manufacturing and production costs associated with the manufacturing of pharmaceutical excipients and the changing stringent norms by various developing economies is estimated to act as a barrier to the growth of the market throughout the forecast period.
This report also studies existing competitive scenario of some of the key players of the pharmaceutical excipients market, which includes profiling of DuPont de Nemours, Inc. (NYSE: DD), Roquette Frères, Ashland (NYSE: ASH), BASF SE (ETR: BAS), Evonik Nutrition & Care GmbH, SPI Pharma, Archer Daniels Midland Company (NYSE: ADM), The Lubrizol Corporation, Croda International Plc (LON: CRDA), and Innophos (NASDAQ: IPHS).
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Pharmaceutical Excipients Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall pharmaceutical excipients industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the pharmaceutical excipients market in the near future.