Excipients Market to Grow Remarkably Owing to the Growth of Global Pharmaceutical Market
Transparency Market Research has published a new research report, titled “Excipients Market – Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth And Forecast, 2012 – 2018”, in an effort to study the viability of the excipients market in the global scenario. According to the publication, the global excipients market, which was valued at US$5,260.0 million in 2011, is expected to be worth US$7,586.6 million by the end of 2018.
Excipients are considered as functional additives in the pharmaceutical industry. Driven by factors such as the expansion of the pharmaceuticals market, the global excipients market is poised to grow at a 5.4% CAGR between 2012 and 2018. In addition, a significant rise in the demand for novel excipients is observed at global level and is expected to positively impact the demand for excipients. Despite the development of a favorable commercial environment, the market will have to address issues pertaining to high costs of supply chain and manufacturing.
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Currently, demand from the global market for excipients is dominated by Europe. However, as per the research report, Asia Pacific will soon surpass Europe to emerge as the leading market owing to the availability of cheap labor and skills in abundance. Moreover, the cost of raw materials is also significantly lower in Asia Pacific, which will encourage manufacturers to capitalize on the available opportunities. North America is a highly lucrative market for excipients as well. The demand from the latter is projected to grow at a 5.3% CAGR between 2013 and 2018. A significant portion of the demand for excipients in North America is registered in the U.S., which is also the biggest pharmaceuticals market globally.
In order to present an executive-level overview, the report segments the global excipients market into polymers, minerals, alcohols, gelatin, and sugar and others, in terms of product types. Among these segments, sugar and others dominate the market due to its diversified uses as diluents, fillers, and in tablet coating, followed by alcohol and gelatin. The sugar and others segment is expected to grow at a 5.1% CAGR over the forecast period. Pregelatinized starch is a product that falls under the polymers category. As per the report, the market for pregelatinized starch is expected to register remarkable growth over the forecast period from 2013 to 2018 at a 6.2% CAGR. However, in terms of revenue as well as volume, the market for glycerin is anticipated to register the fastest growth, at a 6.4% CAGR between 2013 and 2018. Demand for gelatin will also increase significantly during the forecast period owing to its growing use for the manufacture of drug capsules.
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The report highlights that the global market for excipients will also benefit from the growth of the food and cosmetics and personal care industries. In order to provide an in-depth analysis on the competitive landscape of the market, the report profiles leading vendors in the market such as DOW, FMC, Proctor and Gamble, BASF, ABF, ADM, Evonik, Cargill, and Akzonobel.
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