The global excipients market size is expected to reach USD 6.9 billion by 2025, expanding at a CAGR of 6.02% from 2017 to 2025, according to a new report by Grand View Research, Inc. Globally increasing reach of generic medicines has been a major factor driving market growth. In addition, rising demand for newer excipients owing to the advantages of drug delivery and stability has led to the growth of the market.
Excipients are essential components for the improvement of overall pharmaceutical activity and performance, both of which directly impact the characteristics of pharmaceutical formulations. An excipient in the right proportion can improve the shelf life and bioavailability of a formulation. These can also be used in drug delivery mechanisms such as sustained release and rapid release drugs.
Polymers were the largest product category in 2016 and are expected to maintain a comparatively moderate growth rate over the forecast period. Microcrystalline cellulose was the leading polymer in this category, accounting for a share of over 26.0% in 2016.
Sugars are expected to observe the fastest growth over the coming years, exhibiting an estimated CAGR of 5.1% from 2017 to 2025. Sugars can play an instrumental role in increasing solubility, taste masking, dissolution, and drug delivery, which can drive its market.
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Further key findings from the report suggest:
The global excipients demand exceeded 600,000 tons in 2016 and is expected to grow at a moderate rate from 2017 to 2025
Owing to high market demand, polymer excipients accounted for the largest revenue share in 2016 and the segment can be anticipated to dominate the market for the coming years as well
The global demand for sugars excipients was valued at over USD 1 billion in 2016 and is anticipated to witness significant growth over the coming years
The Europe polymers market was pegged at 74,000 tons in 2015 and is estimated to reach a total volume of over 100,000 tons by 2025
The market in Asia Pacific is projected to witness substantial growth over the course of the forecast period thanks to several development projects undertaken across major economies, especially in newer excipients markets. The regional market is expected to register a CAGR of 6.63% from 2017 to 2025
Key market 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.
Grand View Research has segmented the global excipients market on the basis of product and region:
Excipients Product Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2025)
Sodium Starch Glycolate
Regional Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2025)
Middle East & Africa
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