Excipients are deemed useful and efficient preservatives in pharmaceuticals. Growth in the sector of pharmaceuticals is estimated to boost the demand for the excipients market. The worldwide market was estimated at about USD 5, 260 million in 2011. It is predicted to be worth around USD 7, 586 million by the end of 2018. The excipients market is likely to observe a CAGR of around 5.4 percent during 2012 to 2018.
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There has been considerable demand for new excipients at the worldwide level. This is also predicted to positively affect the growth of the market. Inspite of a supportive ambience, the market would have to cater to matters relating to high manufacturing and supply chain pricing. The excipients market is predicted to rise steadily in the coming years.
Fast augmentation in the market of generics owing to patent termination of several bestseller drugs is also estimated to steer the market further. Rising demand for efficient excipients and new excipients in the industry are also projected to propel the sales of the excipients market. Additionally, many unexplored prospects in China, India and Brazil are also anticipated to steer further demand for the market.
The excipients market is segmented further on account of products and geographies. The products market is sliced in view of minerals, polymers, alcohols, sugars and others and gelatin. The geographies excipients market is fragmented on account of Asia Pacific, rest of the world, Europe and North America.
The products sector was dominated by polymers in 2013. Polymers occupied about more than 45 percent of the total income. Expansion in the sector of polymers is majorly propelled forward by rising demand for cellulose. The worldwide market of polymers utilized in excipients was expected to have collected around USD 1, 588 million in 2013. Alcohols followed polymers with regard to share in volume.
The geographies excipients market was leaded by Europe in 2013. The region ruled the market in relation to income. It occupied around 33 percent of the share. Rising demand for pharmaceuticals, due to high medical expenses and increased geriatric inhabitants, is expected to be an important factor, positively affecting the European market.
Also, regulatory agenda and high-tech medical infrastructure are the two other significant factors, generating increased revenue for Europe. North America chased Europe in 2013. It occupied the second spot with respect to income. The region was projected at about USD 1, 137 million that year. The Asian Pacific excipients market is likely to be driven by high unmet medical requirements and inexpensive manufacturing alternatives in China and India. Both these factors are also expected to open development opportunities for Asia Pacific in the years to come.
The Asian Pacific market is anticipated to rise at the maximum CAGR during 2014 to 2020. It is expected to achieve more than USD 1, 500 million by the end of the forecast phase. Growing excipients with high performance also provides growth prospects to the excipients market. Growing demand for pharmaceutical excipients across the four geographical regions is also expected to add revenue to the worldwide excipients market.
Information Source: Grand View Research