HOME › Research Insight › Pharmaceutical Excipients Market: Organic Chemicals in the Product Segment and Fillers & Diluents by the Functionality Market Continues its Dominance in the Market
Pharmaceutical Excipients Market: Organic Chemicals in the Product Segment and Fillers & Diluents by the Functionality Market Continues its Dominance in the Market
The global pharmaceutical excipients market is projected to grow at a CAGR of 6.1% during the forecast period of 2016-2021. Demand for the utilization of functional excipients for manufacturing drugs, recent (and impending) patent expiries of several blockbuster drugs, advancement of nanotechnology, and emergence of new pharmaceutical excipients for the pharmaceutical industry are contributing to the growth of the pharmaceutical excipients market.
The organic chemicals segment dominated the pharmaceutical excipients market in 2015. This segment is expected to register the highest growth in the forecast period of 2016-2021. The oleochemicals segment of organic chemicals accounted for the maximum share, followed by carbohydrates, petrochemicals, and proteins.
On the basis of functionality, fillers & diluents accounted for the major share of the pharmaceutical excipients market in 2015. Lubricants & glidants are expected to grow at the highest rate during the forecast period. The growth of the fillers and diluents market is attributed to the increased use of fillers and diluents in the development and production of solid oral drugs. Tablets are the most popular forms of dosage due to their advantages for both manufacturers and patients.
Among formulations, oral formulations accounted for the major market share in 2015. The tablet subsegment of oral formulations dominated the market in 2015. Owing to the shrinking pipeline of new chemical entities (NCEs), companies are increasingly focusing 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. The topical formulations segment is projected to register the highest CAGR, mainly due to the rising demand for products like transdermal patches and self-adhering transdermal drug delivery systems (TDS).
In 2015, Europe accounted for the largest share of the global pharmaceutical excipients market, followed by North America, Asia-Pacific, and the Rest of the World. Switzerland represented the largest market for pharmaceutical excipients in the European region in 2015, primarily because it is the largest producer of pharmaceutical drugs in Europe, in volume. Increasing investments into the development of novel drug dosage forms and constant efforts to provide superior-quality and compliant products in the market space are the major factors responsible for the large shares of North America and Europe in the global pharmaceutical excipients market. Asia-Pacific is projected to grow at the highest rate in the market, due to rising healthcare awareness, growth in the generic drugs market, large pool of scientific talent, and well-defined R&D infrastructure.
Pharmaceutical Excipients Market by Type 9Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), by Functionality (Filler, Binder, Lubricant, Preservative), & by Formulation (Oral, Topical, Coating, Parenteral) - Global Forecast to 2021
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