The global pharmaceutical excipients market is expected to
New York, USA, July 7, 2021 (GLOBE NEWSWIRE) – According to a report published by Research Dive, the global pharmaceutical excipients market is expected to register significant income during the forecast period. The inclusive report provides a brief overview of the current market scenario including significant market aspects such as growth factors, challenges, restraints, and various opportunities over the forecast period. The report also provides all the market figures which makes it easier and easier for new entrants to understand the market.
Drivers: The pharmaceutical excipients market is growing because of its advantages. Pharmaceutical excipient is a substance that facilitates the drug manufacturing process, protects, assembles and stores drugs for a long time.
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Another factor driving the growth of the market is the promotion of its uses by the Federation of International Councils of Pharmaceutical Excipients (IPEC), a non-profit pharmaceutical administration. It is a global organization that creates, operates and advances the worldwide use of quality, safety and utility gauges suitable for pharmaceutical excipients and excipient transport frames. These are the main dynamics behind the growth of the market.
Restriction: The accumulation and preservation of advanced drugs is a costly responsibility. This is one of the main obstacles to the growth of the market.
Opportunity: Advances in the pharmaceutical industry are expected to create more opportunities for the market in the coming years.
The report has divided the market into different segments based on type, functions, applications, and regional analysis.
Type: The organic excipients sub-segment is expected to be the most lucrative
Pharmaceutical excipients are mainly classified into two types: organic chemicals and inorganic chemicals. The organic or natural excipients sub-segment is expected to generate the highest revenue during the forecast period.
Functions: Fillers and Diluents sub-segment expected to be the most profitable
The Expenses and Diluents sub-segment is expected to generate the highest revenue during the forecast period. The increasing demand and production of solid oral drugs is the main factor driving the growth of the market segment.
Applications: Oral formulations sub-segment is expected to be the most lucrative
Due to its incredible advantages in drug development, Oral Formulations sub-segment is expected to gain the highest market share during the forecast period.
Regional analysis: the European market is expected to generate the highest revenues
According to the report, the European region is expected to dominate the market. The reason for this growth is the high level of government investment in research and development and advancement of the social insurance segment in the region.
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Key market players
The most significant players in the global pharmaceutical excipients market include –
- Ashland Global Holdings, Inc.
- BASF SE
- Evonik Industries SA
- Associated British Food Plc
- Archer Daniels Midland Company
- Lubrizol Company
- Croda International
- Capital city
- Dupont Pharma Solutions
These players work on developing strategies such as product development, mergers and acquisitions, partnerships and collaborations to support market growth.
An example of recent development
In August 2020, Lubrizol Corporation, a supplier of specialty chemicals to the transportation, industrial and consumer markets in the United States, acquired Avid Product Development, LLC, a trusted service partner of engineering and additive manufacturing. Avid offers a unique blend of 3D printing capabilities including design for prototyping, additive manufacturing (DfAM) and powder bed fusion production (MJF, SLS), stereolithography (SLA) and filament fabrication fuses (FFF) with expertise in various positions – processing technologies.
The report also summarizes many important aspects including financial performance of key players, SWOT analysis, product portfolio and latest strategic developments.
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