The Pharmaceuticals Excipients Market is expected to reach $6,493.38 million by 2023
Europe dominates the Pharmaceutical Excipients Market
Europe dominates the Pharmaceutical Excipients Market during the forecast period. It is expected to reach $2,528.75 million by 2023 at a CAGR of 7.2%. Germany is a major market for the development and sales of high-end pharmaceutical products. The healthcare industry is also one of the most important markets in Germany. The excipients play an important role in creating oral formulations. They also act as protective agents and can improve the bioavailability of drugs in some cases. France is the largest consumer of pharmaceutical products. The pharmaceutical excipients are distributed throughout the country but are more concentrated in some areas.
Selected Analysis done in the full Report:
The organic chemicals segment in 2016 generated revenue of $2,843.41 million. It is expected to generate $4,553.48 million by 2023 at a CAGR of 5.9%. Organic excipients are derived from plants and animals. They have properties such as stability, nontoxic nature, and availability. Consumers now prefer natural ingredients in drugs and cosmetics as they believe that they are safer without side effects. Pharmaceutical excipients of plant origin such as starch, agar, carrageenan, and xanthan gum are used in the pharmaceutical industry as binding agents, disintegrates, colloids, thickening agents, and gelling agents. Organic chemicals are mainly used to make pharmaceutical excipients and holds 72% of the market share.
Excerpts on Market Growth Factors
- Growth of the geriatric population enhances the demand for pharmaceutical excipients.
- Increasing expenses on healthcare by developing countries drive the growth of the Pharmaceutical Excipients Market.
- Increasing demand for new drug delivery systems spurs the demand for pharmaceutical excipients.
- With the help of excipients, manufacturers have been able to produce medicines that provide immediate relief to patients.
Key players of the Pharmaceutical Excipients Market
BASF SE dominates the Pharmaceutical Excipient Market, followed by Evonik Industries, FMC
Corporation and the Dow Chemical Company. BASF SE manufactures multifunctional excipients such as Kollicoat, Kollidon, and Ludiflash. Evonik Industries produces Eudragit polymers, which are used for time-controlled drug release, and solubility enhancement. FMC Corporation manufactures Avicel RC/CL, which is used in pharmaceutical suspensions and creams. Dow Chemical Company manufactures Methocel Cellulose Ethers and Ethocel Ethylcellulose resins.
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