Global Excipients Market: Snapshot
Booming pharmaceutical industry across the world is helping the global excipients market to grow exponentially. Rising number of medicine manufacturers in emerging region particularly in Latin America is contributing a significant share in the overall growth of the market. Excipients finds its application in pharmaceutical industry for coating, binding, solvent, colorants, and as fillers and diluents, in order to make tablets, capsules, and type of drugs.
The incessant rise in geriatric population all across the world is helping the pharmaceutical industry to grow stupendously, as they are have less immunity making them more vulnerable to various types of diseases. Old people are connected to more complication which requires Medicare. Rapid advancement in technology along with extensive research and development in science, has improved the healthcare industry, making it more expensive. Apart from these, rising disposable income in the region has abode well with the rising rates of treatment, allowing customers to buy medicines in the region has helped the global excipient market to rise exponentially. It is anticipated that by analysts from Transparency Market Research that pharmaceutical industry in the region is expected to grow at stupendous rate of 8.1% CAGR which is likely to push the market in a positive direction in the region.
It is clearly understood that the pharmaceutical industry has a direct influence on the growth of global excipients market. Transparency Market Research, recently published a report, and according to their analysts, the global excipients market in Latin America is prophesized to expand at a whooping CAGR of 6.4% during the forecast period, 2015 – 2023. The market which was worth at US$359.0 mn in 2014 is prognosticated to to touch US$626.9 mn by the end of the assessed period.
Erratic Raw Material Price to Deter the Market Growth
The global excipients market in the region is split into Brazil, Mexico, Central America, Argentina, Caribbean, Colombia, Chile, and Rest of South America. Amongst these, Brazil holds a lion’s share owing to increase in consumption of sugar and other excipients throughout the assessed period. Brazil is likely to grow at robust CAGR of 5.7% during the assessed period. However, on the flip side, Mexico is expected to become the fastest growing market as the country is witnessing a surge in consumption of corsspovidone and poviodone.
However, it has been noticed that the market in the region is strongly been faced by the rising price of the raw materials, which is used for manufacturing organic excipients. This is considered as the major restraint faced by the organic excipients manufacturer in the region, hampering the market. Corn, starch, and maize are the major raw materials that are used for the manufacturing organic excipients market. Apart from excipients market, these raw materials have found its application in energy sector, as they are used for producing cleaner energy. Poor yield, along with increasing application of raw materials have aggressively increased the price of these raw material thus making the market to suffer. However, on the brighter side, the market is filled with lucrative growth opportunity, for example, introduction of new excipients in the market with a proper awareness regarding it among the consumer is likely to break the customers’ resistance. This is anticipated to help the market to grow.
Players to Invest Hefty For Expanding Product Lists
Players in the market are spending bulk in the research and development to produce more efficient product. This step is likely to help the players to increase their product lists and create product differentiation. Players are likely to take constructive steps in increasing customer awareness by educating and advertising about the market. Some of the major players in the market are Avantor Performance Materials Inc., Eastman Chemical Compan, BASF SE, FMC Coporation, and Innophos Holdings Inc.
Ongoing Investments in the Pharmaceutical Industry will Bring Profitable Growth for the Excipients Market
The pharmaceutical industry is growing at a rapid pace across the globe. The use of generic medicines has increased substantially over the years. Drug formulations are experiencing a surge and thus, all these aspects will serve as game changers for the excipients market through the assessment period of 2015-2023.
- Excipients are natural or synthetic substances formulated with the help of an active ingredient of a specific medication. They are prominently used for aiding the manufacturing process. Excipients make about 90 percent of each medicine and hence, help in bringing good growth opportunities for the excipients market.
- The growing need for innovative functional excipients in the healthcare sector will propel the growth exponentially. The funding from the government of numerous countries is also increasing at a rapid rate, which will be advantageous for the growth of the excipients market.
- Research and development activities form an important part of the excipients market. The players in the excipients market always indulge in research and development activities. These activities help in discovering novel insights, which eventually help in increasing the growth rate of the excipients market.
- Strategic collaborations are playing an important role in expanding the growth prospects of the excipients market. Mergers, acquisitions, joint ventures, and partnerships add extra stars of growth. Investments from various firms and conglomerates in the excipients market will assist in boosting the growth prospects.
- Advancements in treatment rate and adoption of novel technologies will further bring tremendous growth opportunities for the excipients market. The players in the excipients market also focus extensively on expansion activities. These activities enable them to facilitate distribution and production at a rapid pace.
- The COVID-19 pandemic has not affected the excipients market substantially. The market was exempted from the lockdown restrictions as it falls under the essential categories.
This report analyzes and forecasts the market for excipients at the global and regional level. The market has been forecast based on volume (tons) and revenue (US$ Thousand) from 2015 to 2023. The study includes drivers and restraints of the global excipients market. It also covers the impact of these drivers and restraints on demand for excipients during the forecast period. The report also highlights opportunities in the excipients market at the global and regional level.
The report includes a detailed value chain analysis, which provides a comprehensive view of the global excipients market. Porter’s Five Forces Model for the excipients market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications are benchmarked based on market size, growth rate, and general attractiveness.
The study provides a decisive view of the global excipients market by segmenting it in terms of applications. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for Latin America. The report also covers demand for application segments in all regions.
The study includes profiles of major companies operating in the global excipients market. Key players in the excipients market include Ashland Inc., BASF SE, FMC Corporation, The Dow Chemical Company, Merck KGaA, Evonik Industries AG, and Croda International Plc, CP Kelco, JRS Pharma, Roquette Pharma, Avantor Performance Materials Inc., Colorcon Inc., Innophos Holdings Inc., Cargill Inc., The Lubrizol Corporation, Eastman Chemical Company, Asahi-Kasei Corporation, Cabot Corporation, Archer Daniels Midland (ADM) Company. Market players are profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The report provides the estimated market size of excipients for 2014 and forecast for the next eight years. The global market size of excipients is provided in terms of both volume and revenue. Market volume is defined in tons, while market revenue is in US$ thousand. Market numbers are estimated based on applications of Excipients . Market size and forecast for each major applications and products are provided in terms of global and regional markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva, and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. Primary interviews provide first-hand information on market size, market trends, growth trends, competitive landscape, outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The report segments the excipients market in Latin America as follows:
Excipients Market - Product Segment Analysis
- Ethyl cellulose
- Methyl cellulose
- Pregelatinized starch
- Sodium starch glycolate
- Polyethylene glycol
- Acrylic polymers
- Propylene glycol
- Calcium phosphate
- Calcium carbonate
- Silicon dioxide
- Titanium dioxide
- Sugar & Other
Excipients Market - Route of Administration Analysis
- Capsules (Hard & Soft)
- Liquids and Semisolids
Excipients Market - Function Analysis
- Fillers & Diluents
- Binders & Adhesives
- Lubricants & Glidants
- Flavors & Sweeteners
- Viscosity Agents
- Film Coating
- Controlled Release
Excipients Market - Country Analysis
- Latin America
- Central America
- Rest of South America