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Drug delivery advances help propel excipients market

New research report predicts the pharmaceutical excipients market to grow 6.7% annually to $8.439 million by 2019.

MarketsAndMarkets' new research report predicts the pharmaceutical excipients market to grow 6.7% annually to $8.439 million by 2019.
MarketsAndMarkets' new research report predicts the pharmaceutical excipients market to grow 6.7% annually to $8.439 million by 2019.

The pharmaceutical excipients market has witnessed strong growth over the past few years, propelled by investments from pharmaceutical manufacturers on novel methods of drug delivery and the rising development of biologics, says the new MarketsandMarkets report, โ€œ"The 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.โ€

These are among the factors leading to excipient market growth from its reported value of $5.76 million in 2013 to its forecasted compound annual growth rate of 6.7% to a value of $8.43 million by 2019.

Merriam-webster.com provides this medical definition of an excipient: โ€œA usually inert substance (as gum Arabic, syrup, lanolin, or starch) that forms a vehicle (as for a drug or antigen); especially: one that in the presence of sufficient liquid gives a medicated mixture the adhesive quality needed for the preparation of pills or tablets.โ€

A MarketsAndMarkets press release on the report says the forecast provides 199 market data tables and 41 figures spread through 270 pages, with early buyers receiving 10% customization on this report.

Recently, functional excipients have gained greater focus due to their applications in formulations employing newly developed active pharmaceutical ingredients. However, declining investments on R&D by excipients manufacturers, and stringent regulatory requirements curbing the number of the U.S. FDA-approved manufacturing sites are factors that inhibit the growth of this market to a certain extent.

The global Pharmaceutical Excipients Market report is segmented by product, functionality, route of administration, and geography. It also discusses the key market drivers, restraints, opportunities, and challenges of this market and its sub-markets. While the market by products is segmented into organic and inorganic chemicals, the market by route of administration is sub-segmented into oral, topical, parenteral, and other excipients.

North America is a major market for global pharmaceutical excipients, which occupied a major share in this market, closely followed by Europe. Growth in investments on novel drug, and continuous efforts of pharmaceutical companies to offer superior-quality products are factors that have led to the large market shares of the North American and European Pharmaceutical Excipients Markets.

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