DowDuPont (US), Roquette (France), Ashland (US), and BASF (Germany) are the leading players in the Latin Pharmaceutical Excipients Market
The Latin America pharmaceutical excipients market is projected to reach USD 579 million by 2024 from USD 403 million in 2019, at a CAGR of 7.5% during the forecast period. Factors such as the growing pharmaceutical industry coupled with advancements in functional excipients, growing generics market propelled by patent cliffs, and the rapidly growing biopharmaceuticals sector are driving the market for pharmaceutical excipients. Also, the increasing focus of MNCs on investing in the pharmaceutical and healthcare sectors in Latin America, availability of local and government funding for R&D activities, and rapid growth in aging population & the subsequent increase in the prevalence of related diseases are propelling the market in this region. The emergence of multifunctional and co-processed excipients, shifting focus of pharmaceutical manufacturing to emerging markets, and the growing biologics and biosimilars industry also present significant opportunities for market growth. However, the increasing regulatory stringency regarding the approval of drugs and excipients along with the cost and time-intensive drug development process are expected to restrain the growth of this market during the forecast period.
DowDuPont (US), Roquette (France), Ashland (US), BASF (Germany), Kerry Group (Ireland), Evonik (Germany), Associated British Foods (UK), Archer Daniels Midland Company (US), Lubrizol (US), Croda (UK), and Innophous Holdings (US) are the key players operating in this market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, partnerships, agreements, collaborations, joint ventures, and expansions.
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DowDuPont is the leading player in the Latin American pharmaceuticals excipients market. The company brings together the complementary portfolios of Dow and DuPont, making it one of the world’s largest chemical corporation. The acquisition of FMC’s Health & Nutrition business in November 2017 alleviated the company’s position in the global pharmaceutical excipients market bringing an extensive range of products under one roof. The company offers a comprehensive portfolio of excipients ranging from rheology modifiers, tablet coatings, controlled release, stabilizers, solubilizers, binding agents, and masking agents to name a few. The company is largely known for its diversified cellulose compound offerings for the pharmaceutical industry. Its position among the top five pharmaceutical excipient manufacturers is attributed to its global footprint through distributors and agents. The company is highly focused on conducting strategic agreements and expansions of its functional units. The company also pursues the strategy of agreements and partnerships with well-known science and technology universities to enhance its presence in the pharmaceutical excipients market. The company intends to strengthen its presence in the market by delivering superior solutions and choices to customers. The firm strongly believes that investments in R&D offer great potential for short and long-term growth.
Ashland is another leading player in the Latin American pharmaceutical excipients market. The company has a diversified product portfolio, which comprises of a wide range of tablet binding, tablet disintegration, tablet film coating, solubilizer, and rheology modifier excipients. Ashland’s leading position in the market is attributed to its R&D activities, strong manufacturing capabilities, and wide distribution footprint across the world, which enables it to serve customers in more than 100 countries. The company’s growth strategy for the pharmaceutical excipients business mainly concentrates on expanding its production capacity and meeting the rising customer demand. Ashland incessantly focuses on the development of the specialty chemicals business by investing in new product discovery. In addition, the company’s strategic priority is to leverage its position in the market by focusing on product launches through customer-focused innovation, which enables it to target a larger customer base and diversify its revenue streams.
Related Reports:
Latin America Pharmaceutical Excipients Market by Functionality (Fillers, Coating, Disintegrants, Binders, Lubricants, Preservatives, Emulsifying Agents, Lubricants, Glidants, Diluents), Country (Mexico, Argentina, Columbia, Peru) - Forecast to 2024
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