22 February 2021
Visiongain has published a new report on Pharmaceutical Excipients Market Report 2021-2031: Forecasts By Product (Organic Chemicals, Inorganic Chemicals, and Other Chemicals), By Functionality (Fillers & Diluents, Suspending & Viscosity Agents, Coating Agents, Binders, Flavoring Agents & Sweeteners, Disintegrants, Colorants, Lubricants & Glidants, Preservatives, Emulsifying Agents, and Other Functionalities), By Type of Formulation (Oral Formulations, Topical Formulations, Parenteral Formulations, and Other Formulations), By Patient Demographics (Adults, Geriatric, Pediatric, By End User (Hospitals, Homecare, Specialty Clinics, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) PLUS Profiles of Leading Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Pharmaceutical Excipients market was valued at US$ xx Million in 2020 and is projected to reach at a market value of US$ xx Million by 2031. North America dominated the global Pharmaceutical Excipients market and is projected to witness CAGR of XX% during the first half of the forecast period i.e. 2021 to 2031.
COVID-19 Impact on Pharmaceutical Excipients Market
COVID-19 impact through different recovery models such as V-shaped, U-shaped, W-shaped, and L-shaped; has been taken into consideration while estimating and forecasting the Pharmaceutical Excipients market. Different recovery scenarios are also included in the report for all the segments and regions/nation. The recovery scenarios based on which market has been forecasted and analysed herein the report are mentioned below:
Rapid Surge in the Generics demand
There is a very rapid increase in demand for generic drugs around the world. Generics drugs are medications manufactured as same as pre-existing branded or patented drugs in safety, dosage form, strength, quality, route of administration, intended use and performance characteristics; Which makes generic drugs work as same as its brand-name version. Generic drugs are very cost effective as compared to their branded version which makes it more preferable. Recently, the market has reported a sudden rise in the demand of generic drugs along with increasing regulatory approvals for it. Various manufacturers have increased their research and development activities for generic drugs and on the other hand many manufacturers have launched their product portfolios in generic drugs which have helped to fulfil demand and to work as a driver for the market. Rapid surge in the generics drug is increasing demand of pharmaceutical excipients products due to this reason the factor is working as a driver for the market.
Increasing Geriatric Population around the world
Geriatric population is increasing very fast around the world from the last few decades. All regions are facing a huge increase in the number of geriatric populations. For instance: According to the United Nations, Department of Economic and Social Affairs, the Population Division geriatric population (persons aged 65 or over) was 702.9 million in 2019. Geriatric populations are at high risk of developing chronic diseases due to decreased immune systems. Rapid increase in the number of the geriatric population around the globe is also increasing demand for pharmaceutical excipients for development of drugs around the world. Due to the increasing geriatric population around the world is working as a driver for the pharmaceutical excipients market.
Increasing therapeutic Advancements in Pharmaceutical Excipients
Increasing demand of generic drugs and orphan drugs has led various leading manufactures to increase their research and development activities for pharmaceutical excipients. Research and development activities for new advanced pharmaceutical excipients in the order to improve the manufacturing process, cost of the product and availability of the product. New research and development activities for therapeutic advancements in pharmaceutical excipients are expected to increase demand of pharmaceutical excipients in the forecasted period.
Top companies (Dupont De Nemours, Inc., Roquette Frères, Ashland Global Holdings Inc., and Evonik Industries AG) constitute more than XX% share of the global Pharmaceutical Excipients market. Other companies profiled in the report include: BASF SE, Kerry Group PLC, Croda International, Associated British Foods PLC, Archer Daniels Midland Company, Lubrizol Corporation, Innophos Holdings Inc., WACKER Chemie AG, Air Liquide S.A., Colorcon Inc., DMV-Fonterra Excipients GmbH & Co. Kg Others are some of the key developments are listed below:
● In 2020, Evonik has launched RESOMER, which is a precise platform for custom functional polymeric excipients to facilitate pharmaceutical manufacturers to control parenteral drug products profile. The launch of the new product will help the company to increase revenue generation from a market focused product portfolio.
● In 2018, Pfanstiehl launched L-Arginine, which is a new high-purity, low-endotoxin, and low-metal. The new product is specifically developed to meet US Pharmacopoeia (USP), European Pharmacopoeia (EP), Chinese Pharmacopoeia (ChP) standards and Japan Pharmacopoeia (JP). The launch will help companies to increase their market share in the pharmaceutical excipients market.
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