The global excipients market is anticipated to reach USD 5.22 billion by 2020, growing at a CAGR of 6.0% from 2014 to 2020, according to a new report by Grand View Research, Inc. Growing developments in the field of medicine formulation and rise in research in the field of dosage technology are expected to drive this industry through the forecast period.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/excipients-market-analysis
Further key findings from the study suggest:
· Introduction of novel technologies for utilization of generic drugs in the development of new formulations is expected to boost growth of this industry over the forecast period. Furthermore, increasing global geriatric population base is anticipated to significantly raise demand for pharmaceuticals as this segment of the population is prone to high risk of organ disorders and infections, thereby propelling market growth.
· Increasing demand for diverse excipients pertaining to interaction with active pharmaceutical ingredients and ongoing R&D for developing sustained and immediate drug delivery techniques for novel drugs is also expected to serve as high impact driver for the growth of this industry over the forecast period.
· Polymer segment dominated with respect to market share in 2014 with over 45% of global excipients revenue. Factors contributing towards high revenue share of this segment in 2014 include growing demand for major polymers such as lubricants, anti-adherents, fillers/diluents, binders, disintegrants, and coating materials in the pharmaceutical and cosmetic industries.
· Sugar segment is expected to register fast growth of about 7.0% over the forecast period owing to higher consumption rate of sugar in different drug formulations. Benefits associated with use of sugars as sweetening agents and disintegrants such as longer disintegration times, odorless formulations even on long storage, inert nature, and low expenses are expected to fuel growth of this segment through to 2022.
· Europe was observed to be the dominant region for excipients industry accounting for 32% of global revenue in 2014 owing to the presence of a large number of pharmaceutical manufacturers, high demand for medicine products as a consequence of rising geriatric population base in the western European countries.
· Asia Pacific region is expected to grow at lucrative rate and its revenue is estimated to reach over USD 1,500 million in 2020. Presence of low cost manufacturing options and high unmet medical needs in countries of this region are factors that are anticipated to attribute to growth of this industry in the given region through to 2020.
· Major players in this industry include P&G, Avantor Performance Materials, Inc., Huntsman Corporation, BASF, Eastman Chemical Company, Danisco A/S, Ashland Inc., Roquette, Colorcon, Inc., FMC Corporation, Evonik Industries, and Lubrizol Corporation. This industry is competitive in nature marked by high industry rivalry levels. Players are striving to gain competitive advantage by focusing on stringent regulations issued by regulatory bodies pertaining to safety of finished products.
Read detailed report or request for sample of this research report: http://www.grandviewresearch.com/industry-analysis/excipients-market-analysis/request
