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Analysis of the Global Pharmaceutical Functional and Multifunctional Excipients Market, Forecast to 2023
Analysis of the Global Pharmaceutical Functional and Multifunctional Excipients Market, Forecast to 2023
Innovative Co-processed and Multifunctional Excipients Will Impel the Market Growth
RELEASE DATE
03-Sep-2019
03-Sep-2019
REGION
Global
Global
Research Code: K377-01-00-00-00
SKU: CM01699-GL-MR_23467
$3,000.00
In stock
SKU
CM01699-GL-MR_23467
Description
Excipients have been a part of the pharmaceutical industry, and their demand is expected to increase during the forecast period. This is owing to their ability to perform various functions such as improving the API stability, modifying drug release, and taste masking. Expanding patient base, coupled with the need to develop cost-effective drugs, has led to the growth of generics and biosimilar drugs. This simultaneously drives the need for excipients that can be successfully utilized for these drugs. In addition, excipients impart no medicinal properties to the drug; they do have well-defined roles ranging from protecting the API to easing the manufacturing process. However, there are certain factors that impact the market growth. The advent of new drug delivery techniques has also increased the need for new excipients that fits the process. However, stringent regulatory process is one of the roadblocks to the development of the novel excipients in the market. Long development timelines, high investment in R&D, and chances of failure have prevented the manufacturers from developing novel excipients. For instance, antioxidants such as ascorbic acid are used in combination with compounds that are prone to oxidation, hence improving the efficiency of the formulation.
Areas of Growth: Continuous manufacturing technology has gained prominence in the solid drug manufacturing. Although the traditional processes are still incorporated in continuous process line, the requirement of ingredients has differed. Therefore, there is a need for excipients that are well suited for continuous process. Moreover, there is an increasing need for excipient suppliers to develop and expand parenteral grade manufacturing. Although manufacturing drugs of parenteral route requires highest quality standard because it evades the natural barrier routes of the body, the long-term positive impacts of the drugs have created the demand for these drugs. This, in turn, has resulted in increased demand for parenteral excipients.
Regional Analysis: North America dominated the market and is expected to maintain its dominance during the forecast period. Strong economic growth increases the affordability quotient, which results in increased demand of better healthcare services in the region. However, the patent loss of the blockbuster drugs incurs a huge loss to the industry, which in turn impacts the excipients market as well. APAC is expected to witness the highest growth during the analysis period.
Competitive structure: In terms of market participation, Tier I companies including BASF, Ashland, Evonik, and Roquette occupied a share of around 45% to 55%, thus dominating the market. Tier II companies occupied a share of 25% to 35%, followed by Tier III companies with a share of 10%. Moreover, Tier I and Tier II companies have adopted strategies such as partnerships and acquisition to expand their customer base and create a global presence of the companies.
Table of Contents
Executive Summary—Strategic Factsheet
Market Engineering Measurements
CEO’s Perspective
Market Definitions
Key Questions this Study Will Answer
Market Definitions
Market Segmentation (continued)
Market Segmentation (continued)
Market Segmentation (continued)
Geographic Scope
Market Segmentation Description
Market Segmentation Description (continued)
Market Segmentation Description (continued)
Market Segmentation Description (continued)
Market Segmentation Description (continued)
Market Segmentation Description (continued)
Pharmaceutical Functional and Multifunctional Excipients Market—Value Chain
Excipients and Compendia Monograph
Good Manufacturing Practice (GMP) Guide Timeline
Certification Requirement
Market Growth Levers
Market Growth Challenges
Market Engineering Measurements
Pharmaceutical Functional and Multifunctional Excipients Market Revenue Forecast by Chemistry
Revenue Forecast Discussion by Chemistry
Pharmaceutical Functional and Multifunctional Excipients Market Revenue Forecast by Source of Origin
Revenue Forecast Discussion by Source of Origin
Pharmaceutical Functional and Multifunctional Excipients Market Revenue Forecast by Route of Administration
Revenue Forecast Discussion by Route of Administration
Pharmaceutical Functional and Multifunctional Excipients Market Revenue by Region
Revenue Forecast Discussion by Region
Pharmaceutical Functional and Multifunctional Excipients Market—Competitive Landscape
Market Share Analysis
Growth Opportunity 1—Improving Economic Conditions in Emerging Economies
Growth Opportunity 2—Need for Novel Excipients and Manufacturing Trends in Pharmaceutical Sector
Growth Opportunity 3—Excipients Compatible with Tableting Processes
Industry Trend—Strategic Imperatives for Success and Growth
Need for Excipients with Improved Functionality
Need for Excipients with Improved Functionality (continued)
Types of Excipients with Improved Functionality
Novel Excipients
Novel Excipient Barriers
Novel Excipient Development Process
Examples of Novel Excipients
Modified Excipients
Co-processed Excipients
Co-processed Excipients Development
Examples of Co-processed Excipients
Examples of Co-processed Excipients (continued)
Examples of Co-processed Excipients (continued)
Oral Pharmaceutical Functional and Multifunctional Excipients Market—Revenue Forecast by Functionality
Revenue Forecast Discussion by Functionality
Parenteral Pharmaceutical Functional and Multifunctional Excipients Market—Revenue Forecast by Functionality
Revenue Forecast Discussion by Functionality
Topical Pharmaceutical Functional and Multifunctional Excipients Market—Revenue Forecast by Functionality
Revenue Forecast Discussion by Functionality
Inhalation Pharmaceutical Functional and Multifunctional Excipients Market—Revenue Forecast by Functionality
Inhalation Revenue Forecast Discussion by Functionality
Market Engineering Measurements
North America—Revenue Forecast
North America—Revenue Forecast Discussion
North American Market Trends
North America—Revenue Forecast Discussion by Chemistry
North America—Revenue Forecast by Route of Administration
North America—Revenue Forecast Discussion by Source of Origin
North American Market Activities by Top Participants
Market Engineering Measurements
Europe—Revenue Forecast
Europe—Revenue Forecast Discussion
European Market Trends
Europe—Revenue Forecast by Chemistry
Europe—Revenue Forecast by Route of Administration
Europe—Revenue Forecast Discussion by Source of Origin
European Market Activities by Top Participants
Market Engineering Measurements
APAC—Revenue Forecast
APAC—Revenue Forecast Discussion
APAC—Market Trends
APAC—Revenue Forecast by Chemistry
APAC—Revenue Forecast by Route of Administration
APAC—Revenue Forecast Discussion by Source of Origin
APAC Market Activities by Top Participants
Market Engineering Measurements
RoW Revenue Forecast
RoW Revenue Forecast Discussion
RoW Market Trends
RoW Revenue Forecast by Chemistry
RoW Revenue Forecast by Route of Administration
RoW Revenue Forecast Discussion by Source of Origin
RoW Market Activities by Top Participants
The Last Word—3 Big Predictions
Legal Disclaimer
Partial List of Companies in “Others”—Competitive Analysis
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
The Frost & Sullivan Story
Value Proposition—Future of Your Company & Career
Global Perspective
Industry Convergence
360º Research Perspective
Implementation Excellence
Our Blue Ocean Strategy
Popular Topics
Excipients have been a part of the pharmaceutical industry, and their demand is expected to increase during the forecast period. This is owing to their ability to perform various functions such as improving the API stability, modifying drug release, and taste masking. Expanding patient base, coupled with the need to develop cost-effective drugs, has led to the growth of generics and biosimilar drugs. This simultaneously drives the need for excipients that can be successfully utilized for these drugs. In addition, excipients impart no medicinal properties to the drug; they do have well-defined roles ranging from protecting the API to easing the manufacturing process. However, there are certain factors that impact the market growth. The advent of new drug delivery techniques has also increased the need for new excipients that fits the process. However, stringent regulatory process is one of the roadblocks to the development of the novel excipients in the market. Long development timelines, high investment in R&D, and chances of failure have prevented the manufacturers from developing novel excipients. For instance, antioxidants such as ascorbic acid are used in combination with compounds that are prone to oxidation, hence improving the efficiency of the formulation.
Areas of Growth: Continuous manufacturing technology has gained prominence in the solid drug manufacturing. Although the traditional processes are still incorporated in continuous process line, the requirement of ingredients has differed. Therefore, there is a need for excipients that are well suited for continuous process. Moreover, there is an increasing need for excipient suppliers to develop and expand parenteral grade manufacturing. Although manufacturing drugs of parenteral route requires highest quality standard because it evades the natural barrier routes of the body, the long-term positive impacts of the drugs have created the demand for these drugs. This, in turn, has resulted in increased demand for parenteral excipients.
Regional Analysis: North America dominated the market and is expected to maintain its dominance during the forecast period. Strong economic growth increases the affordability quotient, which results in increased demand of better healthcare services in the region. However, the patent loss of the blockbuster drugs incurs a huge loss to the industry, which in turn impacts the excipients market as well. APAC is expected to witness the highest growth during the analysis period.
Competitive structure: In terms of market participation, Tier I companies including BASF, Ashland, Evonik, and Roquette occupied a share of around 45% to 55%, thus dominating the market. Tier II companies occupied a share of 25% to 35%, followed by Tier III companies with a share of 10%. Moreover, Tier I and Tier II companies have adopted strategies such as partnerships and acquisition to expand their customer base and create a global presence of the companies.
| No Index | No |
|---|---|
| Podcast | No |
| Author | Prateeksha Kaul |
| Industries | Chemicals and Materials |
| WIP Number | K377-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9100-A2,9938-A2,9595 |