Shifting Focus of Pharmaceutical Manufacturing to Emerging Countries - Major Boon For Global Pharmaceutical Excipients Market

Market Share Estimation:

The market shares for leading pharmaceutical excipients manufacturing companies was arrived at after detailed assessment of their revenues from the pharmaceutical excipients business by secondary data available through paid and unpaid sources. Owing to data limitations, in certain cases revenue share was arrived at after detailed assessment of the product portfolios of major companies and their respective sales performance. At each point, this data was validated through primary interviews with various industry experts.

Global Industry Revenue:

The pharmaceutical excipients market is projected to reach USD 9.7 billion by 2025 from USD 6.9 billion in 2019, at a CAGR of 5.8%.

Data Triangulation:

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides.

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Recent Developments:

# In April 2019, Colorcon, Inc. (US) signed an agreement with DuPont Nutrition and Biosciences (US) in order to enhance the current product portfolio of CR Alliance products.

# In February 2019, Associated British Foods plc (UK) signed an agreement with Indchem International (India) under which, Indchem will distribute Associated British Food’s functional lipid excipient product line in the Indian market.

# In January 2019, Croda International (UK) acquired Brenntag Biosector (Denmark) for its vaccine adjuvants portfolio which would be complementary to Croda’s pharmaceutical excipients portfolio.

# In December 2018, Roquette Feres (France) signed an agreement with Thermo Fisher Scientific (US), which gives Thermo Fisher the right to distribute the product portfolio of Roquette in the US and Canada.

Market Segmentation:

Based on formulation: the pharmaceutical excipients market is segmented into oral, topical, parenteral, and other formulations. In 2018, oral formulations accounted for a major share of the pharmaceutical excipients market, mainly because oral formulations are the most common route of drug delivery. Owing to the shrinking pipeline of new chemical entities (NCEs), companies are increasingly focusing on developing orally disintegrating tablets (ODTs) and other novel methods of oral drug delivery. There is also a growing trend towards sachet formulations.

By functionality: the fillers and diluents segment is expected to account for the largest share of the pharmaceutical excipients market in 2019

The fillers & diluents segment accounted for the largest share of the pharmaceutical excipients market in 2018. This market segment is expected to grow due to the increased use of fillers and diluents in the development and production of solid oral drugs. Oral formulations account for a majority share in the pharmaceutical industry, and as these formulations require fillers and diluents the most, this segment automatically has the majority share of the pharmaceutical excipients market.

Geographical Growth Scenario:

Europe is expected to hold the largest share of this market in 2019.

The dominant share of this region can be attributed to the presence of a number of pharmaceutical giants with large production capacities leading to high consumption of excipients. The growing emphasis on superior pharmaceutical products, generics, and biosimilars has also led to the increase in the demand for novel excipients, which, in turn, is expected to drive the market growth in this region in the coming years.

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Major Leaders:

The key players in the global pharmaceutical excipients market are Ashland (US), BASF (Germany), DuPont (US), Roquette (France), Evonik Industries (Germany), Associated British Foods (UK), Archer Daniels Midland Company (US), Lubrizol (US), and Croda International (UK).