DALLAS, July 10, 2015 /PRNewswire/ --
According to a new market research report "Pharmaceutical Excipients Market by Products (Organic chemicals, Inorganic Chemicals), Functionality (Fillers, Binders, Lubricants, Preservatives), & by Route of Administration (Oral, Topical, Parenteral, Others) - Global Forecast to 2019", published by MarketsandMarkets, The Pharmaceutical Excipients Market is expected to reach around $8,439.0 Million by 2019 at a CAGR of 6.7% during the forecast period from 2015 to 2019.
Browse 199 market data Tables and 41 Figures spread through 270 Pages and in-depth TOC on "Pharmaceutical Excipients Market"
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The pharmaceutical excipients market is highly fragmented, with none of the major players accounting for more than 10% of the market share. The market comprises of several small players, each accounting for a market share of less than 1%. A majority of these small players are based across low-cost manufacturing locations such as China, India, and Brazil.
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The global pharmaceutical excipients market was majorly dominated by North America in 2013. This market will continue to drive and dominate the pharmaceutical excipients market by 2019. Increased focus on outsourcing of manufacturing activities by companies in North America to facilities in Asian nations and in some Latin American countries will slightly reduce the share of North America by 2019. The growth of the Asian market will primarily be driven by countries like India and China. This is mainly attributed to the rising demand for healthcare driven by growth in per capita income, and increasing excipients manufacturing outsourced by companies in developed nations. The European market is expected to grow at a higher pace than North America mainly due to increasing investments in drug development and continuous efforts of pharmaceutical companies to offer superior-quality products.
Expansions, new product launches, and mergers and collaborations were the key strategies adopted by most companies in the global pharmaceutical excipients market in 2013 and 2014. Broad research in this market has brought into view that expansion strategy is the key strategy followed by major players accounting for a share of nearly 28% of the total strategies. Increasing demand of excipients and high growth potential offered by the emerging markets has resulted in increasing number of companies focusing on expansion into pharma-emerging markets. The key players involved in expansions are Ashland, Inc. (U.S.), BASF SE (Germany), the Dow Chemical Company (U.S.), Roquette (France), and FMC Corporation (U.S.). The pharmaceutical industry's need for novel functional excipients formed the basis for innovations in the market during the forecast period. By adopting this strategy, leading players launched various advanced excipients such as multifunctional excipients and co-processed excipients into the market. Furthermore, the market players also launched modified grades of existing pharmaceutical excipients in the market.
Ashland, Inc. (U.S.), and BASF (Germany) were the leading players in the pharmaceutical excipients market with market shares of approximately 9.5% and 9.3% respectively in 2013. Ashland has a diversified product portfolio, which includes a wide range of tablet binding, tablet disintegration, tablet film coating, solubilizer, and rheology modifier excipients. Ashland's leading position in the market is attributed to its strong manufacturing and distribution footprint across the world, which enables it to serve customers in more than 100 countries.
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