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The Pharmaceutical Excipients market is segmented by Product, Delivery Mode, Functionality (Fillers and Diluents, Binders, Suspension, and Viscosity Agents, Coatings, Flavoring Agents, Disintegrants, Colorants, Preservatives, and Other Functionalities), and Geography.
Fastest Growing Market:
The major factors responsible for the growth of the pharmaceutical excipients market include the increasing demand for functionality excipients, recent patents expiries driving the demand for pharmaceutical excipients, and rapid advancements in nanotechnology.
Many ‘blockbuster’ drugs are on the verge of losing their patents. The patent cliff (the period between 2011 and 2016) resulted in hundreds of billions of dollars’ worth of brand drug sales losing patent protection. Another patent cliff is expected in the coming years. When patents expire, generic drug companies are free to create their own replicas, and these can cost up to 80% less than the originals, which inevitably lead to a sharp and sudden loss in sales for the companies that developed them. Over 300 drug patents have expired in the year 2017. The effect of patent expiration can also be seen on Roche Holdings’ major revenue generated through oncology drugs, such as Avastin, Herceptin, and MabThera/Rituxan are about to expire/expired in 2020, 2019, and 2018, respectively. This encouraged pharmaceutical companies to try and extend patents by using functionality excipients. The pharmaceutical industry is being weighed down by the pressure to cut costs, generic competition, and lack of innovation. Excipients are becoming an important aspect in tablet manufacture as they provide enhanced functionality to pharmaceuticals, aid in drug development and innovation, and help improve patent life, all at a lower cost.
As per the scope of the report, excipients are the pharmacologically inactive substances of the formulation that aid in the manufacturing of the finished pharmaceutical product. They also help in transporting the active pharmaceutical substance to the site of action in the body. The market is segmented by product, delivery mode, functionality, and geography.
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In recent years, binders have made significant gains in quantities used and revenues captured. The pharmaceutical industry has gradually recognized binders to be able to aid active pharmaceutical ingredients to achieve better functionality and provide a competitive advantage. One example of enhanced micro-level demand for binders is the blooming of extended-release formulation, which is made possible through proper binder application. One of the most widely used modalities of binders is the wet granulation process; it is often required when the pharmaceutical form contains a high level of active ingredients. Major market players, such as the Roquette Group, have manufactured multiple pharmaceutical binders with different degrees of water solubility or dispersibility. Some of the examples include LYCATAB PGS - A cold water soluble starch, ideally used in high shear equipment and LYCATAB DSH - a water-soluble maltodextrin binder, suitable for the preparation of granulation solutions or use in dry blends. Due to the ease of administration and affordable price, the demand for binders is rising robustly. This increased demand, in turn, stimulates the consumption of binders in pharmaceutical products, and hence, is a driving factor for this segment during the forecast period.
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North America is found to hold a major share for the pharmaceutical excipients market and is expected to show a similar trend over the forecast period. The US excipient industry is expected to evolve closely, along with the progress of the pharmaceutical industry, as new active pharmaceutical ingredients are developed and novel technologies are adopted (i.e., novel drug delivery systems). Following this trend, innovative multifunctional excipients and specialty blends can be expected to arrive in the market during the forecast period. In the United States, at the macro-level, the rising global demand for pharmaceuticals has fueled the growth of drug production, and consequently, excipient consumption. Within the pharmaceutical industry, the downward price pressure, reduced R&D productivity, and stringent regulations have forced drug manufacturers to increasingly turn to excipients with the intent to develop differentiated and value adding products at low costs without compromising quality. One example of enhanced micro-level demand is the blooming of extended-release formulation, which is made possible through proper excipient application.
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The market studied is fragmented, owing to the presence of a large number of small and big companies. Some of the market players are Ashland, BASF SE, DuPont, Roquette Frères, Evonik Industries AG, Associated British Foods PLC, The Lubrizol Corporation, Archer Daniels Midland Company, and Croda International PLC.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Functionality Excipients
4.2.2 Recent Patents Expiries Driving the Demand for Pharmaceutical Excipients
4.2.3 Rapid Advancements in Nanotechnology
4.3 Market Restraints
4.3.1 Stringent Regulatory Framework
4.3.2 Decline in R&D Investments
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Inorganic Chemicals
5.1.2 Organic Chemicals
5.2 By Delivery Mode
5.2.1 Oral Formulations
5.2.2 Topical Formulations
5.2.3 Parenteral Formulations
5.2.4 Other Delivery Modes
5.3 By Functionality
5.3.1 Fillers and Diluents
5.3.3 Suspension and Viscosity Agents
5.3.5 Flavoring Agents
5.3.9 Other Functionalities
5.4.1 North America
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle East & Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East & Africa
5.4.5 South America
184.108.40.206 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 BASF SE
6.1.4 Roquette Frères
6.1.5 Evonik Industries AG
6.1.6 Associated British Foods PLC
6.1.7 The Lubrizol Corporation
6.1.8 Archer Daniels Midland Company
6.1.9 Croda International PLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments