The global excipients market size was estimated at USD 4.1 billion in 2016. Increasing usage of generic medicines and rising demand for multifunctional excipients is expected to be key factors driving revenue growth. Excipients have been recognized to provide better functionality and competitive advantage in drug formulations and this has contributed to their increased usage by pharmaceutical firms in recent years.
Ongoing research on and discovery of ideal or near ideal substances that can be used in drug formulations and delivery has given the market a definite boost. Another factor that contributes toward global growth is that most pharmaceutical firms have been busy in development of more sophisticated excipients with enhanced role in drug delivery.
There is a rising demand for novel substances that support nanoparticle drug delivery for oncological medications to provide better stability and adoption of medicines. This is also likely to propel the market. Patent expiry of blockbuster drugs is also expected to boost the market at a significant pace.
Currently, companies are working on optimization of excipients in drug formulations and delivery. They are also engaged in the development of such formulations. These factors are expected to have a major impact on the development and marketing of these products in future.
Polymers, comprising microcrystalline cellulose, hydroxypropyl methyl cellulose, and CMC, among others, emerged as the leading product category in terms of both revenue and volume. It accounted for over 45% of the total revenue in 2016 and almost 40% of the overall volume used in pharmaceutical formulations. Rising usage in various dosage forms such as suspensions, capsules, and tablets is anticipated to be a key driving factor for this segment over the forecast years.
Polymers can have multiple functions in drug development, which in turn, has attributed to its high usage in pharmaceutical R&D. They offer strength and improved shelf life when compared to other types of excipients used in pharmaceutical preparations. Polymers offer ideal formulation features for controlled/sustained release and help deliver drugs to specific target sites.
Sugars have emerged as the second-largest product segment, accounting for around 30% of the overall revenue in 2016. This can be attributed to their spherical shape and porous nature, which provides flowability and low friability, thereby making sugar a preferred choice in a wide range of pharmaceutical applications. Sugar is also used as a drug delivery agent through the pulmonary route and applications such as these are anticipated to fuel segment growth.
Europe leads the market and accounted for over 32% of the total revenue generated in 2016. The major growth factor in this region is presence of European Medicines Agency’s scientific guidelines on excipients, which facilitates pharmaceutical entities to prepare marketing authorization applications for medicines for human consumption. There is considerable demand for pharmaceuticals in the EU5, which could potentially drive market growth.
Europe is closely followed by North America owing to presence of larger companies, such as Avantor Performance Materials Inc. and FMC Corporation, that are direct manufacturers of the products. The region is expected to witness significant growth owing to ongoing case studies on drug-excipient interactions to enhance delivery efficiency and efficacy.
Asia Pacific and Middle East and Africa are expected to grow at a faster rate owing to an expanding generic market and high volume of unmet medical need in the regions. These regions also enable low-cost manufacturing processes and are a good source for raw material for manufacturing of excipients.
The global excipients market is highly competitive and fragmented, with many international companies competing for a large share of the global revenue. Key participants include Eastman Chemical Corporation; P&G Chemicals; Avantor Performance Materials, LLC; Huntsman Corporation; BASF SE; Ashland Inc.; FMC Corporation; Roquette; Colorcon Inc.; Lubrizol Corporation; Valeant; JRS Pharma; Shin-Etsu Chemical Co., Ltd.; DFE Pharma; and Finar Limited. Development of multifunctional and novel excipients is expected to be a key parameter for competition in this market, with mergers and acquisitions as an additional attempt to expand product offerings and gain revenue share.
Attribute |
Details |
Base year for estimation |
2016 |
Actual estimates/Historical data |
2012 - 2016 |
Forecast period |
2017 - 2025 |
Market representation |
Volume in tons, revenue in USD Million and CAGR from 2017 to 2025 |
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Country scope |
U.S., Canada, Germany, Japan, Brazil, South Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis on industry trends in each of the sub-segments from 2012 to 2025. For the purpose of this study, Grand View Research has segmented the global excipients market report on the basis of product and region:
Product Outlook (Volume in Tons; Revenue in USD Million, 2012 - 2025)
Polymers
MCC
HPMC
Ethyl Cellulose
Methyl Cellulose
CMC
Croscarmellose Sodium
Povidone
Pregelatinized starch
Sodium starch glycolate
Polyethylene Glycol
Acrylic Polymers
Alcohols
Glycerin
Propylene Glycol
Sorbitol
Mannitol
Others
Sugars
Lactose
Sucrose
Others
Minerals
Calcium Phosphate
Calcium Carbonate
Clay
Silicon Dioxide
Titanium Dioxide
Others
Gelatin
Regional Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2025)
North America
U.S.
Canada
Europe
Germany
Asia Pacific
Japan
Latin America
Brazil
Middle East & Africa
South Africa
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